Member Info for Retireby40

Where are you getting this from - Total assets June 30 2018 - june 2017 = $11.22m

Look at the previous periods!

That photo was posted on 26 June so will they have included that in the June 30 accounts. The rcenue suggests it hasn’t which is odd.

And we have nearly $650,000 in cash so was able to pay YA in cash. No further news as they said it’s accurate as at 26th Sept so nothing new from YA. Revenue is disappointing but good to see we have cash in bank and money being obviously spent in the field.

Bob and no Hope of a deal being proposed/sealed by time of the meeting. Hopefully flow rates and gold News.

I don’t think we’ll get an ops update until next week. For some reason they tend to release results and follow up with an update a few days later rather than combining as most PLCs do. Not sure how much T-45 and possibly Dino oil revenue will be included in H1 but hopefully nearly double ‘17 which was $1.5m. We’ll see. Exciting times and I’d be surprised if Zaza isn’t attacking YA from a position of strength.

A post on advfn to WShak - You have a point re insider dealing but if an insider/advisor (YA) told those meant to be on the outside (TW et al) a placing was coming and to attempt to drive the price down to all their benefit that is both market manipulation and insider dealing. I hope people and writing to the relevant authorities re YA and TW as they clearly work in concert.

Never great to gap up as it’ll come back down to fill it.

5,000, that’s depressing! Yep, good to see production elsewhere on the up which hopefully bodes well for us.

Thanks mate. Here’s hoping T-45, Dino-2 and T-39 are producing 500+bopd between them.

I very much doubt FRR is producing 1,000bopd as Zaza said he expected that by YE so to be doing that over 3 months ahead of schedule seems highly unlikely. Bugsy, do you believe that oil at auction, due to its make-up, to be from T-39 or could it be from another producer?

Clearly brokers and market makers have been co-operating with FRR in order for them to know when the shares were sold. Surely they’ll come to an agreement before it turns even nastier.

I can see Niko being an issue with the majors if they wanna t the oil plays too. Having a third party in the mix may complicate matters.

H1 will be published by the end of next week. Not sure how much oil revenue from T-45 will actually be realised in the figures.

I was thinking the same. Not sure why FRR wouldn’t just presumably transfer the money (or out the way they did the prior month) but it could be that they wanted and tried to pay YA but it wasn’t accepted as YA wanted shares as they’d make more money from them. I assume if that is the case FRR has evidence to that effect which is why they published the recent RNSs. All very odd but I can’t see Zaza, Levan et al simply not paying and then not issuing shares as a result of limited cash. I also can’t see them publishing the RNSs unless they’re 100% confident of their position.

Following investigation by the Company into the circumstances surrounding YA II PN, Ltd.'s actions and the submissions of the Conversion Notices, the Company's legal advisers wrote to YA II PN, Ltd. on 12 September 2018. By that letter, YA II PN, Ltd. was informed that (i) the Company had serious concerns as to the validity of the Conversion Notices and the calculations contained therein and (ii) the Company does not consider that it would be appropriate to action any conversions in respect of the Conversion Notices pending further investigation. The Company and its legal advisers have received no substantive response to this letter from YA II, PN, Ltd.

I doubt a great deal of the 3 well testing oil or even T/45 will be realised in H1 results. Yes we had a twitter photo uploaded on 26 June of oil being inspected but how many before that? I hope we get some decent commentary with the AR which hasn’t been the case in years gone by. An ops update with it would be great.

Very confused post there pal. The monthly payments are to YA not YJ and their retainer (YJ) will be perhaos 2% of what YA are owed each month.

Yes that’s why I said August’s payment may have been transferred back to FRR so the amount remained as it was on July 19th RNS. May be a long shot though as YA accepted cash for the first payment and why on 28 Aug would they decide they want shares when the share price was falling (assuming they’d presold some). Odd. Maybe FRR were late with the payment and paid after they received the conversion notice on 28th and then the Sept 3rd RNS lands and YA decide they want shares. All a little odd.

I would think they’ve transferred the payment back to FRR and have then requested shares to cover their short. RNS published on 3 Sept and they ask for more share and early so can use the lower share price to request a higher number of shares. I’m assuming (not what I thought first thing as the RNS should’ve been worded a lot better if that’s the case).