Re: FRR Stream Log - PFL - FRR will have...

PFL - FRR will have an OPEX much larger than 45M per annum if you include all drilling cost/s, servicing the debt/interest and investment to increase production, if the stated figure of 200 employees/contractors is correct. However, if an increase in production to the levels indicted happens during this year, FRR will flip into a cash profit generating company. I now hold over 7M and aim to increase to at lease double this over the next few weeks so I for one would like a period on PI selling so the price goes sub .8p. Additionally, talking to some of my old colleagues in Baku about FRR (known to them) lack of data on their gas and shallow operation (last report focussed on the deep opportunity) their opinion is that either the shallow results are not as good as first thought (hence explains the departure of our big holders) and they are holding back this news hoping for more revenue generation and better reportable results of the deeper (or more info on none reported wells) to off-set this disappointing news!!!! or they are selling asset and need to keep a lid on proven resources at the request of the buyer (common in O&G . Why am I holding and going to increase my holdings - based on price of .9 > 1p is about correct at current production levels (I see very little down side)- any increase in production will make this a profitable company and therefore the upside is very good 1.8 > 2.5P. Maybe not to the levels some expect but at least double todays value in a short period of time (two or three months in my estimation). If their is a sale of asset in the pipeline then we are all holding valuable shares.