Member Info for Shafqut

No news yet. may not be a relist. Just have to wait patiently and see what happens, while you are waiting you might want to read the posts.

No news yet. may not be a relist. Just have to wait patiently and see what happens, while you are waiting you might want to read the posts.

Do FRR have to prove gas and oil is commercial by 2021? If we do this then do we automatically get the license for production, if yes, how many years is the license?

I noticed a post the other day on ii showing that GOGC have won the majority of licenses in Georgia. Now if we don't prove commercial most likely GOGC will take over block 12. This is the main reason I reckon BP are helping us out so we prove commercial and then sell the license to BP.

What are your thoughts?

Thanks for the email, 100% agree. The wait continues.

LMAO, JUST LOLLLLLLLLLLLLLLLLLLLLLS :-) , don't visit the ADVFN website!

I really hope we hear something, not fair on us shareholders. I didn't expect us to go 6months without hearing anything, bloody joke!

If frr give us a relist date then might be worth ask IG if they can transfer them back prior to relist??

ODR, I knew it would eventually go into my share holding account, however I was hoping it would slip through the net. Now that its happened its very upsetting. Also, if we do get a dividend, 32% tax!!!

absolutely gutted, was hoping that if we relisted that it would still be in ISA. What is percentage of tax for capital gains, 20%?

All shares have been transferred from ISA to normal shareholding account :-(

Thanks punter, I dont think Zaza will settle for anything less than 5% buy out.

Valuation
18kMMbbls oil and 202TCF (at the same recoverable rates as the figures in the CPR = 2.9kMMbbls and 140TCF) . If this is converted to oil equivalent (1TCF = 170MMbbls oil) = 2.9 + 26.7 = 29.6kMMbbls. With an oil price of $75/bbl = $2002.5bn.
Typical takeover amounts for O + G companies are 1 - 3%. As the numbers are so huge, it would have to be a consortium (we have two majors interested remember) and the 1% would likely be the top limit. Therefore, with 1% = $20bn, which equates to a share price of 98p. If a JV/farmout, then I would look at 0.1% = $2bn, which equates to 9.8p. If FRR were to go into field production alone borrowing the money, then £500m market cap. is achievable + $440m recoverable expenditure is roughly $1bn. Hence, why IMHO $2bn is the figure for a JV/farmout.
IMHO a figure somewhere in the middle of the range is most likely for a buyout of Block 12. Therefore, halfway between $2bn and $20bn is $11bn, which equates to a share price of 53.5p ($11bn = £8.44bn @ current rate of $1 = £0.7675).
Remember, I have used a very conservative value of just over 0.5% of the value of the recoverable hydrocarbons. When takeovers are considered, factors that give higher valuations are low costs per barrel; infrastructure in place; market in place; proven resources and fields already in production. BP recently bought 4.6kMMbbls for $10.5bn and FRR has almost 6.5 times as much. The costs for the BP acquisition are well under $50/bbl, whereas for FRR it is under $12/bbl. There are pipelines running through Block 12, with the nearest to Tarabani only 18km away. There's a ready market in place connected to the pipelines. Production apart from the very low zone 9, is only just starting for FRR. Tthe resources are being proven by the current EWT's, plus the seismics and the proven geology of the Kura Basin and Maykop formation. Therefore, IMHO taking everything into consideration, half a percent of the recoverable value is very conservative and not utter tosh.
I am assuming the resource of 4.6kMMbbls of oil BP bought is the amount recoverable, as I haven't found a breakdown for the resource.
FRR has 6.5 times as much recoverable hydrocarbons and 4 times as much profit per barrel, which equates to 26 times as much profit. BP's acquisition is already flowing at 190kbbls/d and is a proven resource. IMHO $11bn for 26 times as much profit, than a resource for $10.5bn with the field already developed, is a good deal

AJ, I am only dreaming, I only have 4.5mil shares. 202tcf is more than 5p? :-)

Zaza we know you follow this board, please give us a sign, give us something.lol

Zaza did say golden tickets, so I will be disappointed if the tickets are less than a quid each :-)

I think I will just get a Mercedes...however I have been looking at million pound houses.hahaha

Lol timster, dont think I can look at Lamborghinis with 4.5million shares :-(

Have we made any further contact? now would be a good time, I don't think anything mentioned now will effect the court case.

Anyone know where he has disappeared too? Has Zaza been in touch?

Only good thing to come out of this case is that hope has resigned. Now we have to do what we should have done is pay the creditors. Once this is done we should have no more obstacles, over to Caymans now and show our hand.