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R8. I don't know what to make of the arb doc, it certainly looks official, and would take an expert in legal documents to alter 14 points and all the corroborating evidence for those points convincingly. Only for the benefit of a few pi's on a bb in the uk. When it would be easily proved false by the arbitration body making a statement saying it is false. I think Zaza is making the best of the cards he has left to create a long awaited political change, which we will need to stand any chance of getting our oil and gas out of the ground. He would make an awesome poker player.
ODR - you are stating that the arbitration result is 'clear' and therefore factual. If someone is skilled enough to write it then someone is skilled enough to alter it. We therefore don't know that it is legit just as we don't know that the photocopies are legit.
R8: I think anyone in Georgia is scared of publishing or direct quoting from the Arbitration Ruling for fear of legal action. The arbitration ruling does look genuine, as I have stated before; to forge something so convincingly would be an incredible achievement. I appreciate that most on here disagree with me but then most haven't read it. I'm just stating what I believe, which is what these boards are for.
So I don't believe Zaza, and he has plenty of 'previous' with mis-statements, but I am delighted that he has adopted the approach he has as we need him to win. After all, the alternative is to accept the ruling and hand over our asset; so he has little choice but to do what he has. He is, however, doing a fabulous job of it thankfully.
JRjnr: would love to be back down the Nags Head!
Is 'drafts' a cross between draughts and darts ;)?
I think so... another Woods miracle on the cards
Rods is very sure of the contents of the leaked arb doc these days.
Sorry JRjnr
Jnjnr are we still on track for the green jacket
Everer the expert on material breach versus repudiatory.... I am glad Rodney is not my QC.... Perhaps head back to the nags head and finish your game of drafts with trigger!
ODR - that’s assuming the arb doc was legitimate. Zaza keeps mentioning 14 items raised in the arb with only two being awarded to the GG. I couldn’t see 14 items in the leaked doc which makes me believe it had been altered. As previously mentioned, the Georgian media would also have used this in the interviewing of both the GG and Zaza if it was legit.
Goit: the arbitration ruling is clear on this point (actually it is clear on all points). It said that it was a material breach irrespective of subsequent compliance with returning the 99%. It also recognised the implications of that breach. So what the GG have done is completely in line with the ruling and as such we have 26 days to go.
However their (verbal) position softening is presumably down to politics. We just need then to follow it up with action and not take the remaining 1.58% back.
"The Arbitration Tribunal ruled that “Frontera Resources Georgia Corporation” committed material breach of the contract by refusing to return the exploration area (99% of the entire licensed area) to the State, which gives the State right to terminate the contract*. According to the decision,”Frontera Resources Georgia Corporation” and “Frontera Resources US LLC” are obligated to reimburse the amount of the mineral usage tax paid by JSC “Georgian Oil and Gas Corporation”
*if the unused license area is not returned in x days/weeks of this judgement
Why do I feel like something along these lines is being purposefully missed out by GG.
Why inexplicably change your position to reconciliation, if you had such a cast iron position which they claimed to have.
Frontera should get a boy from uncle Sam to attend the negotiation meetings to report directly back on whether or not it is an untenable farce.
Cf , hopefully when this time next month we will have a clearer idea of where this is heading .
Seingred, very possible that ZM didn't feel it would evolve into this. He did say (and I paraphrase someone else's paraphrasing), that GG were using a sledgehammer to crack a nut. We got to member what's been coming at FRR: one side, GG, with state attempts to misappropriate; at other end, Hope, TW, YA and dirty naked shorting, and even StarRage wading in. Perhaps not a excuse (or at least a good enough one), but we seem to still be in the fight and by now holding our own.
Looed, thanks for that. That's extremely helpful. Keep up the great work!
Ziggy / Freelast / CF73 - this is what the GOGC have said about the findings in the Award, all taken from their statements on gogc.ge. They always talk about the vast majority of claims being met in their favour but, once you wade through the bluster -of which there is a lot - it all seems to come down to this -
"The Arbitration Tribunal ruled that “Frontera Resources Georgia Corporation” committed material breach of the contract by refusing to return the exploration area (99% of the entire licensed area) to the State, which gives the State right to terminate the contract. According to the decision,”Frontera Resources Georgia Corporation” and “Frontera Resources US LLC” are obligated to reimburse the amount of the mineral usage tax paid by JSC “Georgian Oil and Gas Corporation”
Those two wins seem to be agreed by both parties - The land has already gone back (by the way, surely Zaza now knows the % involved if those lands have already been returned ?) and the issue with the mineral tax doesn't seem to be about the amount, rather, how its paid or offset against other amounts due.
The other claims made in various gogc.ge statements include US$6m in costs, and a 1 time mention that the asset move was illegal.
Hi StarRage, if I recall correctly, Zaza and the DM had some behind closed doors chat, the DM then went public as Zaza mentions in this latest translation. After this interview the Minister - either during a meeting with the US Ambassador or directly after that meeting - made the same offer to meet and discuss. If this is a ruse then they have now roped in the US Executive branch which won't sit well.
Cf , as often is the case there is no right side imo . One corrupt bunch will be replaced with a different bunch of corrupt characters .just with a different master . As far as zm is concerned ,he looked people in the eye knowing all this was unfolding and encouraged people to buy shares .
Off topic ,I saw the Rustavi state choir at the Barbican 4 or 5 years ago and recommend highly .
MadP - Sorry the sloppy editing as it was late night for me and wanted to post before bed
Past part of Pt.5 should read "last few years"
Seingred, have ticked up your post as in principle I agree with what you say.
While it seems easy for the US to enter into these things at the drop of a hat, it is more to do who and where. Iraq, Libya, Venezuela etc are far more easily interfered with than Gerogia. Gerogia history and geopolitics makes intervening much harder for the US.
I say this as someone generally not at all pleased with US foreign policy, and as someone who is a one-time international relations student. Have said previously, if I knew geopolitics were going to come into this, to this degree, including relying on the US political establishment, I wouldn't have touched this. But am confident, that for once, through FRR, we are on the right side.
Cf , Not being funny but the usa have killed untold ammounts of people and wrecked Iraq on the back of feeble information . Get real . The us just want a compliant gvnt that likes a tummy rub .The georgian people should be careful what they wish for . Georgia has numerous parties to choose from and are having their democracy arranged by a country that has a two party system where last time out the winner had less votes than the loser .currently they have the choice of two geriatric characters that should both be barred on mental grounds .
Can imagine that FRR presented the findings of the Arbi to US politicians. That would have been the final straw for the US establishment.
"Paying 200,000 gel ???mineral tax, of something."
------------------------------------
Could easily be as feeble as that. GGs claims have been flimsy. They wanted to misappropriate this asset. Really do believe that when ZM talked about 'the truth', he meant it. The case we have was so clear cut that when the plain facts were presented to those US politicians, it was too easy for them to step forward in support.
Paying 200,000 gel ???mineral tax, of something.
Didn't Zaza mention in much earlier interview, that it was a trivial matter....they pay every year ?
Re the “ two claims that went against us “ ....one is the 99% ish hand back, do we know what the other one was ?
Is worth adding, FRR cannot meet GG until the spectre of those as-yet-to-be-determined conditions has been removed. They need to arrive to that meeting an established, definitive agenda, and, if all goes well, then release Joint Statement settling the matter.