Member Info for Spudsoil

Bit surprised we haven’t seen the upward trend continue since Monday. Any Chartists views able to explain why? Although would have thought sentiment and nothing else should be driving this at present. Massively strong buy for me

Wouldn’t read anything in to not hearing anything on Niko yet. These things take time, especially at this time of year. We always say it by I genuinely think sept is the month

And in the meantime whatever we are producing is being sold in to a pretty buoyant oil market. we get what, Brent minus 10 on the oil train, I think someone said? That’s a damn good margin and given the debt markets are not liking some the of geo-political events at present, Brent at 70 dollar plus is a good position to head in to negotiations on funding for our field development roll out plan.

Those who know their stuff when it comes to choke sizes.... whilst I understand the need for T-39 to prove up long term sustainable production over the lifetime projections forecast in the business plan, do you think FRR would consider ramping up production from this well to the detriment of longer term production to realise increased revenue from the well in the short term. If a company was short on cash I guess this could be a consideration and from what Zaza was saying in the podcasts, it sounds like they've restricted the flow considerably - is this an argument to suggest our finances are in a better state than some think because if they weren't the option to get it gushing at full pelt would look attractive? Or am I reading too much in to it?

be interested in others views on this, but the more I think about it, the more it seems logical that with a successful Niko drill/production, we could scale up the oil operations rapidly, assuming further financial support was forthcoming from the hedge fund that is with us on NIKO. And you'd have to think it would be if results from Niko are successful - in some ways it's a much higher risk to finance only 1 drill than it is to finance, say, 10. yes more gross funding required but you don't live or die by the results of just 1 drill. There's been some great views shared on this board about proving up what we have to then be in a better position to negotiate terms of a JV or similar. And with Zone 19 getting Zaza excited, any future partnership post Niko may be starting from a much improved position than originally thought.

Is reason for 2nd podcast so Zaza and YJ can review first and then ask second interviewer to focus on aspects that they feel weren’t sufficiently covered off or clarified from 1st? That’s how I’d do it if I was them, and then whichever interview is better is the one you plug on Twitter etc etc

Either the PR has been given no thought or 1) maybe they are so thrilled with Tarabini results they figure it matters much less now than prior to campaign kicking off or 2) they are considering other options for gas. Or 3) their PR strategy is not the best!

Coggy, open a new investment account, buy twenty quids worth at this price and you can tell everyone you’re in at .3😜

No sustained flow rates so nothing to base growth and finance models on yet. Once they are in, we’ve got something concrete to work from

If you asked 100 of us on here how you would release news (within the boundaries of regulatory requirements) I would hazard a guess we’d all say get the avg to poor news out the way so you can clear the decks for the better stuff to come. It may be weeks away but whatever we say about Zaza needing to focus on the operations he’s human so I’m sure he’s had a sneaky peak at his share portfolio, and if he’s similarly weighted towards FRR as most of us seem to be, you can bet he’s eager to see SP appreciation as much as the next shareholder!

I’m predicting a flow rate RNS early next week and MMs hoovering up before the good news. Just typing it makes me feel better regardless of whether it happens!

As a dummy quote I should add

£50k shares being taken in one go at .0285. MMs want them

Surely due a bounce. Dummy quote to sell and the MMs will take massive volume in 1 go so this is going up I reckon

So we know that 25% of the 4 drill campaign will not be progressing (for now). We also know that 75% of the campaign is progressing under budget, with expanded remit, encouraging early results and a clean H&S record. Another few weeks (possibly less, possibly more) and we will know the critically important part - the sustained flow rates. I’m happy to sit and wait until that RNS and I also applaud the company for taking their time to build out their portfolio of knowledge and data in 2018. It’s O&G E&P - never straightforward but am confident we have the right leadership team in place to drive the company forward.

Great summary off the ball and a reminder of why patience is key.

It’s a waiting game now. We can expect updates on all 4 drills at some point in the next few weeks and news could drop anytime. Im happy with everything that’s been delivered by FRR this year and every reason to think the momentum the company has built up from an operational perspective will start to positively influence the financial side of things, including shareholder value.

Patience...........taken from Oil and Gas journal........ Extended well testing (EWT) provides one route for both obtaining the data required to reduce the uncertainties-and thus the costs-of facilities design and reducing the uncertainties of reserves and productivity. In the right circumstances, it provides the key to unlocking untapped reserves and reducing the overall costs of field development. EWT can provide the bridge between conventional appraisal testing and commitment to full field development.

Agreed, am just pointing out that we want to avoid getting in to any negative chat about the first finance payment. My take on it is we made a payment of 10m shares, that transaction completed around 14th. Logic suggests first payment will be a month after new arrangement kicks in. Anyway that’s my view, might be completely wrong but wanted to share it before we get in to a spiral of YA paranoia

there’s been a few comments about 16th June beibg redemption date for old YA finance agreement and therefore we should expect a company update regarding the first payment tranche to YA in respect of the new 12 month agreement. I’ve re-read the rns and can’t see anything specific about the first payment date, so it could be we don’t hear anything on this for a few weeks and given the longer FRR have to make first payment the better chance fully in cash, that’s got to be a good thing. Am I missing something about why we expected a transaction to go through on or around 16th?