if Levan was striking up a good rap or with Baadur Kipiani of BP during their discussions on tax at the Amcham Energy Mining and utilities committee meetings. Im sure a farm in with BP would be satisfactory all round.
Thats just my opinion and is total unsubstantiated. Just wishful thinking.
post recommended. Nice summary and insight. SN is a very, very shrewd cookie - if he were just playing chance with overtone else's money i might think differently but the guy has backed himself, his company and his expertise with gazillions of his own cash. Ive never known a ceo to deliberately squander the familys hard earned and certainly don't expect SN to be the first. i's to be dotted and t's to be crossed. Remember he's had his pocket picked once. Once bitten twice shy i would say and I'm all the happier for that!
yes, it caused quite a stir at the time. I emailed Liz as there were reports that Frontera had had the production suspended to which we were assured that was not the case. As is the norm around these parts very little information on the day to day wranglings is released by the company. We await the CPR to confirm- SN has stated an upside in the gas to 9.7billion an increase in multiple of 5.5 times previous estimate.
Hence we all silt around heavily invested awaiting the next RNS.
FRR and SN , board of directors have messed up big time and a little unlucky too,but what company spends $400 million dollars on proving up acreage but yet provides a minimal cashflow for the company to continue , and has to issue shares all the time, but hey that is why the price is 0.84.
Truth is the price has not done much over the last few years , and may not do much in the future , us PI s dont really know whats going on its just one big educated guess that things will turn out well.
On the flip side , good CPR , sale of MK , and where all laughing. in the mean time zzzzzzzzzzz
is that for a business owner/CEO whatever its bloody demanding and demoralising. I was having a chat with my CEO (I work for an AIM listed company, over £3 a share) and he's stopped the good new flow this year. He is a clever man, runs the business perfectly, 25% TO growth consistently for the last 7 years and with a view to make it massive and great for shareholders, but he pee'd off that if you do well, the city wants more, if you do bad the city wants blood.... why am i saying this here in our beloved FRR? It just reminded me about SN, dammed if he don't, dammed if he do.... however the suggestion that he'll sell out cheap is crazy, how many shares does he own? why would he give away millions of £?
Could mean they want to revel this soon or maybe they have found more!
Gas Deposit with Capacity of 42 Bln Cubic Meters? – American "Frontera" Hides Information from Georgian Gov’t
16:06 29.9.2014 -+
The International Oil and Gas Company "Frontera Resources Georgia Corporation" doesn’t reveal information about the gas reserves.
In June of the current year “Frontera” confirmed that gas deposit with capacity of 42 bln cubic meters was discovered in Georgia, in particular in Sagarejo district that caused a stir in expert and public circles, because the discovery of energy reserves in such an amount actually meant the country’s energy independence.
To date, there isn’t any kind of documents confirming that the company owns such gas reserves. Gas reserves of 23 million m3 of were mentioned in the documents for obtaining a license filed to the State Oil and Gas Agency by "Frontera" 5 months ago.
According to the regulations, the company is obliged to submit information about reserves, however, as "Frontera" has not submitted this documentation to the Agency, it imposed a fine on the company.
According to the Agency’s Director Giorgi Tatishvili, the Agency draw up protocol on administrative offences under which the company was fined GEL 1 000 .
Tatishvili notes that at this point they are waiting for a response from "Frontera", two weeks left to pay the amount or appeal it.
The fine was imposed for the violation of regulations established by the Agency.
The company defends its position referring to the contract signed with the government in 1996. Accordingly, the legal dispute began between the two sides.
The Agency continues to say that "Frontera" holds its position.
American "Frontera" had to submit a report on reserves before June 1.
it odd for a company to have spent so much money proving oil and gas reserves and not doing much now or certainly looking as though they arnt doing anything Lord maybe they are going to move on....were was SN hinting about a while back?
Perhaps SN was only ever in Georgia to prove up reserves and then move on. A company with strong political motivations alligned with their business strategy. After all, they haven't really made much effort to get the share price up when they could do quite easily, and the regions they're in and looking to work in are all strategically important to "the west". That said, I still believe us mere PI's will do well if we can hold out long enough. If they do sell out on the cheap as being suggested, perhaps it will be to GOGC, we should still be squids in from here though. it would be most disappointing if this happened though so I hope we're wrong. I would like it if get the mtsare khevi CPR soon, followed by a joint venture with major or buy out of the mtsare khevi by a major sometime in H1 2015. A rise in share price post CPR and due to speculation about what they'll do with all the gas prior to that would be most welcome. I need to take some money off the table in the next 6 months to a year and would hate for it to be at this level, or dare I say, below this level!
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