Member Info for Timster

clarification its 2 and not 3 too. Which is good, as I thought that thread of thinking was just made up....

hopefully the second is actually a super major oil company...

GLA

I said it earlier that I find it really bizarre that todays news can be viewed as bad! I didn't expect massive rises as there is no detail yet. but I didn't expect to be down.

I think this is the deal too, nothing more to come other than the finer detail once fully signed off

We are continuing to work with BHGE with the view to entering into definitive agreement(s) that will define our mutual cooperation, which may include the Company contributing to the venture via sharing of its oil and gas production.

THIS is the deal with a Major, it says it in the title

until the deal is finally signed off we don't know the detail which is clearly key here!

It's a funny old game isn't it!

like you say how could it possibly be viewed negatively that a company with a market cap of $66 million has signed a MOU with a company with market cap of 10s of billions who can help FRR develop it's Georgian assets in ways they could never of dreamed of a few years/months back.

good news then...

dyou think its wise posting your insider knowledge on here?

Tsbs Not sure because them the mou would be with Exxon not FRR To me the deal is a fullstream deal with bhi no one else involved. I could be wrong though

TSBS

all Oil Majors use service providers such as BHI they use service providers for pretty much everything. As they don't own rigs etc.

eg if you work on a rig for Exxon normally the only representative of exxon will be the "company man" he's in charge of the whole show but:

- The rig is provided by a service provider e.g Maersk, Transocean etc. which includes personnel for day to day running roughnecks and roustabouts etc
- The drilling fluid (mud) is provided by a service provider eg BHI, Schlumberger, Haliburton
- The mud logging is provided by a service provider eg BHI, Schlumberger, Haliburton
- The Geologist might be Exxon
- The Cement is provided by a service provider eg BHI, Schlumberger, Haliburton
- The LWD/MWD is provided by a service provider eg BHI, Schlumberger, Haliburton
- The Directional driller (if required) is provided by a service provider eg BHI, Schlumberger, Haliburton

You get the idea.....

What Schlumberger and BHI have done over the years is move from just a service provider to offering a fullstream capability with Schlumberger that also means they have become operator for some blocks, as I'm sure BHI are looking to do or may already do.

The terms will be key, and that's the next stage in the process. The wording below is "collaborate" which suggests BHI stumping up cash too:

"Under the terms of the MOU, the Company and BHGE will collaborate with the aim to improve efficiency of operations, enhance service capacity and capabilities, and commence in-field drilling and intervention campaign to increase production and recovery of resources in the Taribani, Mtsarekhevi and Mirzaani fields of Block 12"

Looks like they are interested in gas too:

"During Phase III, the parties will cooperate to work on future projects that includes BHGE solutions and expertise with regards to the natural gas monetisation"

After rereading the RNS, it sound to me like this is it there wont be another announcement of another deal (apart from the finer detail when signed) BHGE are the deal and there is no doubt they are a massive world leader:

https://www.bhge.com/our-company

I'd have to agree unfortunately Chris, Zaza marketed this deal as with a super major. the everyday investor regards a super major oil company as Exxon, BP, Shell etc

but BHI are massive, interesting to see what the actually workings of the deal are when signed, todays RNS doesn't really say much so we continue to wait. Don't this the SP will go mental as I'd hoped :(

I used to work for BHI, Google them they are massive in service company world, Haliburton, Schlumberger and BHI

good news, and no its not exxon or BP but BHI are massive and like schlumberger are looking to become an exploration company.

can we have the flow rates now though?

WOW

I like them calcs madpunter!!

FRR have been pretty much airtight up till now. It's just the usual " don't want to be out for the weekend " crowd

Zaza leaving his bling lying around ...

Exceptional Drivers

endless dross..

We should also get a new resource estimate with the RNS to show why the MAJORS want in.

Zaza has already stated the one of the MAJORS has done their own CPR and it was better than the existing one by a long way.

It's all about field development for me if a major can drill 100 wells in 2 years with wells that pay for themselves in 8 months, then what will the price be??

and its a shitty farm in not a SUPER DUPER MAJOR lol

ZONE 19... typo

the November well isn't happening until discussions with the hedge fund are concluded to go deeper into zone 9 OR the SUPER MAJORS pay for it!!

Flow rates wont be released until after the SUPER MAJOR partners announced either...

next few months are going to be very exciting and hopefully life changing!!

Wouldn't want to be out over the weekend haha

GLA