Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Surely the headline today is that a $31b major who has spent time studying the oil and gas in block 12 in the data room, want a piece of the action as the 'FIELD DEVELOPMENT' unfolds in the coming weeks and months.
That is a massive vote of confidence, and surely provides both shareholders and the market with renewed enthusiasm.
I've always considered my holding here previously as a binary bet, but tonight I'll sleep a little easier...lol.
Hopefully good things come to those who wait.
Having read the RNS slowly again, it does seem that if BHGE have been in the data room. They are now effectively outlining in the MOU a deal and arrangement to be worked up and finalised if FRR want it. Namely BHGE will develop and produce 3 areas of block 12, and share the profits from the produced oil and gas. The financial details are still to be finalised, maybe once the competition has shown their hand. The 30 day clause suits FRR, if the other industry major brings another deal or better deal, then effectively FRR can take their pick.
If this is a farm-in then it appears understated. I think it's fair to say the detail still needs to be revealed here.
RNS sounds like a real step forward in the right direction of 'field development'. Not sure if this has already been discussed today, but the following line has thrown me. 'Which may include the company (BHGE?) contributing to the venture via sharing of its oil and gas production...' How are BHGE intending to share their own oil and gas. Anyone else struggled with this?
JS... I have followed this share for years, as I know you have. I'm convinced that our exit strategy in Georgia, is fully aligned to our entrance into Moldova. And both of these moves are a bigger, and a well orchestrated strategy of global politics that stretch well beyond Frontera. The timeframe on this move is a collapsing around us, and I think most LTH believe this is to the positive. Fingers crossed here that Frontera, Georgia, Moldova and the region see sunny 'brilliant' days on the horizon.
It's worth noting that Zaza commented of the technical 'due diligence' work being undertaken in the data room. This sounds to me that there is already some agreement on what the deal looks like, providing the data numbers stack up. And if the latest video is anything go on, the economics are just getting better and better. Each well a $3m outlay, paid back within 10 months and a $60m return. If it comes in that good, I may even buy one of them wells myself. Now wouldn't that be a story for the grandkids.
Pyro... We just need to remember Steve Nicandros words... 'that over time the unconventional, becomes the conventional'. New technologies have opened up a mega field of hydrocarbons.
Breakout gaining momentum?
There is a lot that can be taken from this RNS, not least the confirmation that Hope and Outrider do not have FRR shareholders at heart. But to the contrary, people in glass houses don't through stones. For Zaza to start calling the these people and YA out, provides me with more reassurance that he and the board are playing a straight bat. Genuinely working hard, and willing to shine a spot light on the skeletons to get our giant assets into the market.
Earsburn, great post and a great quote. LMAO. Shorted can try as hard as they want, but LTH in this share are not parting with these golden tickets. Nobody is selling at this late stage in the game.
Spot on I think.
Outrider and Hope will get their legally entitled returns and that's it.
They know its a poultry sum compared to what's coming to shareholders, but they haven't gold the golden tickets.
Zaza aka Willie Wonka.
An excellent RNS this morning. It provides clarity and is strongly worded, providing confidence that Frontera now have teeth. Ready to call out those they have been trying to derail this company for years. You can guarantee Uncle Sam's backing in all of this. I think the US have a plan to get Georgia standing on its own two feet.
Just catching up from yesterday's news. It seems like Outrider are trying to muscle in on the action (again), but it's nice to see Frontera aggressively fighting its corner. Well done Zaza. Could it be simply that Outrider want access to current talks and the data room. But rightly Zaza has told them to think again, and slapped an injunction against their interference in current talks.
Could it be that Outrider, are now left out in the cold along with YA. Do they all want shares before this takes off, but the deals don't allow it.
Many of FRR holders have been here for many years and are LTH. You only need to see ave. Daily volumes to see people are holding on tight to their golden tickets. Many have probably written off their investment a number of times over the years, but Frontera has kept going just like we have. Now it genuinely feels like the pain and heartache has been worth it, and we are now entering the golden age. I think anyone would be mad to sell up know, but that's of course just my layman's view.
Frontera need to wrap this deal up before Christmas. But for those that know the history here, it feels like we now in the home leg. If we keep hold tight of our shares, it will make the shorters nervous and hopefully they will stay away. I believe, once in a lifetime opportunity.
Grest effort and good luck to those making the journey. I'm sure the rest of us would welcome any commentary you can share.
Positive comments from the Caspian conference. Multiple references to new opportunities for other countries to develop and add to SGC. Have we already found our investors. If your a major considering an investment, it would be good to hear. I still am favouring SOCAR Georgia is in the mix. https://www.azernews.az/oil_and_gas/137822.html
Well done Zaza for calling this out. Sure sign that he feels that they can now see the back of this type of funding. CPR coming later this month, possibly! Massive assets.