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24.00p (0.00p) 0.00% AIM Fossil Fuels and Distribution £17.97m
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Commentary

Texan oil and gas prospector with a 49% share of production and development possibilities in Georgia's portion of the oil rich Kura Basin in partnership with the country's peacefully empowered government

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Financial History

Financial Year End 31/12/2004 31/12/2005 31/12/2006 31/12/2007
Currency USD USD USD USD
Turnover 1.04 1.81 0.76 1.88
Operating Profit -3.71 -8.62 -13.53 -17.58
Pretax Profit -5.60 -4.41 -9.73 -19.66
Earnings After Tax -5.60 -4.41 -9.73 -19.66
Profit Available For Dividend 0.00 0.00 0.00 0.00
Ordinary Dividends 0.00 0.00 0.00 0.00
Retained Profit 0.00 0.00 0.00 0.00
Shareholders Funds 0.00 57.89 55.01 38.84
Net Current Assets 0.00 0.00 0.00 0.00
Adjusted Earnings Per Share Undiluted 0.00 0.00 0.00 0.00
Adj Earnings Per Share 0.00 0.00 0.00 0.00
Dividend Per Share 0.00 0.00 0.00 0.00

Company Details

Address 3040 Post Oak Boulevard, Suite 1100, Houston, 77056
Telephone (713) 585 3200
Fax (713) 585 3204

Executives

Chairman Steve Nicandros (1.10% holding)
Chief Executive as above (0.00% holding)
Finance Director Randy Theilig (0.00% holding)
Director Spyros Karnessis (8.30% holding)

Main Shareholders

DDJ Capital: 12.3%
Och-Ziff: 7.4%
Persistency Capital: 4.4%
Artemis: 3.7%

Advisers

Nominated Adviser Morgan Stanley
Nominated Broker Morgan Stanley
Solicitors CMS Cameron McKenna
Auditors PricewaterhouseCoopers
Registrar Computershare Investor Services

Commentary

Texan oil and gas prospector with a 49% share of production and development possibilities in Georgia's portion of the oil rich Kura Basin in partnership with the country's peacefully empowered government

Company Data

Code FRR
Sedol US35904460
Shares In Issue 74.869 m
Indices
Entry on AIM 14/03/2005
Interim Results Aug
Final Results Apr
Year End Dec
Accounts Due May
Int div payment n/a
Fin div payment n/a
Int net div per share nil
Fin net div per share nil
Probable CGT relief