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Zibs
Agree with your view the whole thing is bigger than our little problems.
For what is worth with this latest release of information over over Uncle Sams activities in public I would suspect that is even more pressure going on behind the scenes. The Potus does not like military intervention but does like the power of both threats and the dollar
Quite a warning to the GG. Those LTHs who were here long enough always knew this was political all along and now its open warfare. Notice the ruskies weighed in immediately. Weirdly they have reinforced the focus on FRR. The pressure is now on the GG and if we lose in Georgia then there will be calls to return the sunk costs to the company circa 2.5p per share. IMO.
the letter from the US Senate dated 13th Jan believe,
1. Arb done, we have lost out, please change your mind.
2. Arb not done, please consider the consequences.
3. hold on, the arb is an independent arbitration centred in the Hague .. hmm, we're watching.
4. Lets play nice please, you scratch mine etc ..
5. NOHAFI
GL All, LCBK,
the letter
de-listing
Even though, still not absoulately certain. As mentioned earlier not many companies, including $B ones have this sort of support on foreign soil from USA , so increases chances massively. Especially when dealing listed value of Frr was around $40M mark.
Enjoy
Arbitration is meant of course to be independent. I wonder if this is a warning to the Georgian government to accept the outcome of the arbitration when it comes...
Pophead: I am not digging for negatives; I desperately want this to come good.
FinnFCR: thanks for correcting my misinterpretation; you are correct so it isn't quite as bad as I concluded.
Yes Finn....does sound like u.s. describing their behavior over recent times......a warning to get things right on this future development of ours.....or else. Waiving the big stick....so to speak.
We can but hope this is the case.
Play nice....or we won't help your little country along on its journey as lucratively as we might otherwise of done, might not care so much about your lost areas...Odessa, maybe you're not quite ready to join our NATO club, etc.....
Georgia has lots to lose here....if u.s. gets tetchy.
Negatives pretty shabby ODR
1. Whatever led to the letter being written
????? We have been in limbo for more than a year now, it’s not news to anyone that something negative is going on, it’s called an ARBITRATION.
2. Frontera being cited as an example of exportation.
As FinnFCR quite rightly highlights the article states “with the aim of” expropriation. Doesn’t say it has resulted in expropriation. We already suspect the Georgian Gov are trying to take(expropriate) from FRR.
3. The initial hostile response from the representative of the Georgian govt.
Again they are in arbitration and trying to get more out of the big box. We suspect all of this already. They are not going be be all nice in their response.
You can dig in despair for negatives. Sorry in desperation. But really the glaring positives here are that we are fighting over something hugely significant and we have support from powerful US government representatives. What’s also positive is the speed of response from both the Georgian Gov representatives and Russian articles of descent. GLALH.
Yep it’s looking more and more like pressure while the result is pending
“The result of all this is a reduction in foreign direct investment, as American and European business interests are attacked in Georgia with the aim of harassment and expropriation. An excellent example of this is the oil and gas company Frontera Resources from Texas”
States “with the aim of” expropriation. Doesn’t say it has resulted in expropriation. That’s how I’m reading it
Well there certainly are negatives to be taken from what our amazing sleuths have unearthed today:
1. Whatever led to the letter being written
2. Frontera being cited as an example of exportation
3. The initial hostile response from the representative of the Georgian govt.
The positives are:
1. That we clearly have strong support from the US. Without it, we could already have been sunk.
2. if we do exit arbitration with anything the likelihood of us being shafted seems remote imo.
It seems our fortunes may rest upon whether Georgia decides to look West or East.
GLA
Star you tart we are entitled to be positive!
brmg69
Will say that if there is anybody turns up generally saying that we are shafted then this letter I think is the answer that should be posted in reply.
Lets, as usual hope that we see some form of confirmation, sometime soon on a positive outcome on the arbitration.
Enjoy
Arsenal (and others) your kind words of thanks are much appreciated.
I agree the tone is negative - but it would have been easy for him to state along the lines of "Frontera went out of business ages ago" rather than complain about a company 'operating since 1997'. So I see the glass is both half-full - and half-empty at the same time!!
One thing with this letter, is that seriously cannot see ZM & SN not keeping shareholders in the loop on Frr coming good. Especially as the letter has been signed by one or two big hitters, as they would not want to be associated with anybody who f.c.k up their shareholders.
Seeing other side of the coin.
Looed
Even though not a very positive one, like earlier. Still great find & always good on seeing anything that might take the edge off congressman letter.
Vice-Speaker of Parliament Gia Volski says the critical letter from US Congressman Marquin Malin is biased and serves the interests of a particular company, Frontera.
Republican Congressman Malin in his letter to Prime Minister Giorgi Gakharia expresses concern over the deviation from democratic values ??and the worsening economic situation.
As Congressman writes, Georgia has shown negative tendencies towards the indicators of democracy and free market economy, which have reduced foreign investment. He cites the example of the oil and gas company Frontera Resources and the deletion of profile pages from Facebook.
In response to Malin, Gia Volski said that Georgia-US relations have not been at such a high level since Georgia's independence. As for Frostera's Vice-Speaker, the dispute is pending before the Arbitration Court and is a commercial dispute.
"I think the announcement is biased and is in the interest of a particular company ... I think it is so baseless and so contrary to the reality of Georgia that I am convinced that specific well-known political parties will somehow get an objective and real picture," he said. Volski told reporters.
As for Malini's resolution on sanctions on fair business partnership in Georgia, Volski said the congressman had a similar initiative in 2017, but the document was not discussed.
Frontera Resources is a US-based company that aims to extract oil and gas. Frontera Western Georgia has been operating in Georgia since 1997, and during that time they have repeatedly announced that they have found a large supply of gas, but this has not been confirmed.
Frontera Western Georgia owns a 50-percent stake in the state, namely the Baptism and Gas Corporation. The state and Frontera are suing each other in the arbitration court.
Posted on https://on.ge/story/48991-??????????-?????????????-??-??????????-?????????-????????-???????????-??????-????????????-???????