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Completely agree with Pryo's thoughts I would also welcome views from others over should China be added to the mix? I hope not as it does seem uncle Sam is pulling out the stops and it could get a bit messy
This is way way bigger than the noise of the court cases. In the words of Cinerama5, they are just fish and chip paper.
Oh sorry i almost forgot
" You do not fight over an empty box"
TSBs,
I do not think Russia are at al interested in Zaza SN, Stephen Hope or OMF.
They do not want to buy anything off any of them.
They want Georgia to move back in bed with Mother Russia, then they can work with Georgia in getting any energy resources into a operational phase. At the same time this would keep Georgia from being part of the West and align Georgia with Russia in a strategic , economical and military phase.
Russia does not want further expansion of Nato on its door step, it does not want western Europe expanding eastwards and it wants to maintain a strangle hold on Europe with Energy.
Russia is not interested in Block 12 in isolation, its a very small part of the picture of what Russia wants and does not want.
A russian company running block 12 will not be enough for Russia. It gives them no power at all, they need full control.
What Russia does not want is Georgia moving towards the West, Nato and western companies like Exxon and BP taking more control of energy in the region.
Now does Georgia give the PSA and back moving more into bed with the West, or invite putin back into its bed.
I do not think Mr Hope with OMF have backing of Russians
Mr hope and OMF are funded my a small group of very rich investors.
OMF buys companies in trouble then tightens the grip until the life is snuffed out of them.
What actually happened here was another company was in trouble that held loans to FRR, so Mr Hope rescued that company buy purchasing the loan notes at a discount, huge discount.
OMF learnt something about FRR, the intial idea was just buy loan notes worth $20m for $4m
OMF tried to assist in a hostile takeover of FRR, some said at 3-5p a share
(Actually i would take that right now)
Anyway FRR realised what was going on and stopped it
Hope then forced his way on the board and began a strangle hold on us.
What happened next we all know.
So Hope will have huge bills now, but it does not matter, if he wins FRR pay them?
Or do they?
Thing is if FRR did get taken before any loan etc then what is there of value?
Block 12 is all
What if we lost Block 12 if OMF won and it went back to GG
That leaves FRR bankrupt and gone, and OMF with huge bills and no way to pay.
Now i suggest that OMF have been having some funding by investors, the same story here where investers with 10m in already at another 2m to safeguard the 10 already in. This of course can come to an end very quickly.
If thse big investors suddenly realised they are in a lose/lose situation then its game over for Hope.
Now i suggest some will be questioning the ongoing costs and chance of getting it back. getting hesitant on putting more money after the bad money, increasing losses. I suggest a few of his investors wil be quite happy with breakeven and a get out . Confidence in Stephen Hope starting to fade. The risk of not getting anything back even if they go all the way and win will play very much on their minds.
These investors will be high profile and mega rich, but they will not want to lose in this, i suspect that FRR needs improved PSA, then get loan and then pay something to OMF and everyone wipes their mouth and walks away , head high.
The risk for us, and for Hope is that GG do not play ball, which is why some pressure applied from high levels.
I am afraid that in this Hope, OMF , FRR and us lot are all in the same boat, if that boat sinks we all lose.
If we get that extension and following that the loan, all in that boat should see something for their investment.
So really is down to the GG to extend that PSA.
Now what we do not know is if some on our side are in bed with EXXON, or BP, do not discount it as this is also about securing energy for Europe without the control of Russia. If Russia get that gas they could in future hold Europe to Ransom and that will weaken the USA against Russia as it could not rely on Europe to push for any sanctions etc in future. If Europe did the Russia could turn off the gas causing the lights to go off in Europe.
I doubt Mr Hope has the backing of the Russians. If the GG side with the Russians and are ultimately successful in revoking the licence then Hope (and FRR) will lose out on the asset. In respect of the ARB Hope and FRR are aligned.
Us LTH’s will the at the premier of this convoluted staorybif it ever makes it to the big screen.
Either in our bright red ‘rarri’s or in our clapped out beige Lada’s.
ALL or F all
Surely we can’t be that lucky for this to come good?
Yep
And they ain’t gonna play fair!
Jackpack, it wouldn’t be the first time that Hope has colluded with Russian interests.
Anybody besides me wondering if Mr hope has the backing of a certain foreign government and that is why he is able to fight so hard. If so it would answer a lot of questions that have been on my mind for a long time.