I think corruption has decreased massively in the last few years..Issuing permits may be excellent in Georgia, The only thing that Irks me is the timescale.. take Mtsare Khevi well #32A.. The application for this well went in, and the funding was in place, By February 24th I think..6 months later and it appears we are around a week into the drilling.. Because some of Frontera's wells are in protected areas, each step of the way requires licences/permits or court appearances.. I understand the need to protect these fragile areas but Frontera are no fools, They have an excellent health, Safety, and environmental record..it's time the Government "fast tracked" these applications and cut away some of the red tape which seems to bog things down..The faster the revenue stream picks up, The faster we all benefit, Frontera, Shareholders, Varang, & Government..Lets get this oil show on the road :-)
A funny old week. A swift burst of life on Thursday, quickly followed by a retrace and back to slumbering peacefully on Friday.
We are all another week older, maybe not wiser, but nearer to the end game (whenever that may be). One thing is for sure, whilst the SP rolls along trapped in this range, my personal wealth remains fairly static. This, in itself, is fairly re-assuring on AIM. Prior to loading up here, I was in and out of all sorts of stocks on AIM, trying to recoup major losses from the likes of DES, BKIR, IPM, KEA......the list goes on.
I am a more experienced investor now. Apart from a few, had I stayed put in many of the stocks I made losses on, I would be at break even or well in profit now. So, whilst the Bank interest rate remains stubbornly low, I am more than happy to park my hard earned here for the foreseeable, just waiting for blast off.
Big day on the LordLash tomorrow. Works Bar B Q, which turns out to be an all day sesh......haha. Have a good weekend all :)
I don't think we need to worry about the Georgian govt ripping us off, not like the Azers did. I see this info as either a positive or a tweak to the existing for the additional 5 years.
After all, Georgia have got their World Bank "Ease of doing business" ranking to protect, currently 8th best global business environment measured by assessing indicators such as dealing with construction permits, enforcing contracts and protecting investors.
Bear in mind the World Bank has England in 11th place.
Also, I have a friend who works of PwC with an office in Tbilisi who has done a lot of work in the region. He says the Georgians approach to business is fantastic these days and the efforts being made to streamline business processes, align with the EU and stamp out corruption are really commendable and paying dividends.
Just 2 isolated reports I've picked up.. Seems to me it would be a short term gain for the Georgian Government but a long term gain for Frontera..Looks like the Georgians would like a lesser share of the revenues, But sooner rather than later..
first to 2p FRR.......REM.....or UKOG.. first to 5p FRR......REM......or UKOG first to 10p FRR......REM......or UKOG answers on a postcard or even here My guess first to 2p UKOG first to 5p UKOG first to 10p FRR reasoning UKOG close to breaking ground has DL on BOD .so should hit 2p soon and if and big if .. get oil and or gas shows well .. should get 5p . 10p is a little stretch for them so the race is between REM and FRR so far REM are better with news and have DL on BOD have a commercial product and factory to be built 2 year time frame supposedly !!! we have shed loads of oil and gas J V deals in the pipeline well we all know what FRR have but what we need is publicity bla bla bla could go on about SN and the tactics we are using but I have to admit I haven't got the foggiest idea what his strategy is ,simple game for any takers first to 2p.5p.10p and why ... comical answers most acceptable as this is a bank holiday my home team is at Wembley Saturday and it isn't thr Rhinos .. to all fellow FRRs have a great B Holl ..great posts recently and enjoyed the nobul v everyone else tete Te tete ,,,, I understand his frustration and concern but hope to any God ( if there is one) that he is wrong ....
I've picked up a couple of reports that i didn't know about regarding Frontera's 5 year exploration extension..I didn't know that "inserted" into this 5 year extension was a condition .. clipped below... "Oil and Gas Corporation, "Frontera," a 25-year license since 1997. The company has a 5-year contract extension to the case, if it is an ore mining potential. The corporation said that "pronteram" license in 1997 from the state for free, because the law was not "oil and gas" and the decision of the government was awarding licenses for mineral extraction. "The contract for payment by nothing is said. 25th year is added to 5 years. Such a condition is inserted in the agreement. Today that" Frontera "pays, it's natural resources mosakrebelia- 1 Ton 21 USD. November 2012 until 2017 that the state belongs to the obtained products 10 percent., 2017, to 2019 will be approximately 20%, "- said the orporatsia"...21 USD per ton is around 3 USD per barrel payment to the Georgian Government..and also the states share of "obtained products" is currently running at 10%...Does this mean that the states 51% share of hydrocarbon revenue has been replaced by this 10 then 20% share ?.. And what about our $400 million investment up to now?.. I was under the impression that we clawed that back before then going 51%/49% with the Georgians..Thoughts ? http://www.netgazeti.ge/GE/105/business/33018/ Should be top hit and translate page
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