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So GG have spent over 6Mil on lawyers (best in the land) to fight little old FRR for their block (or most of it). The offer to extend to 2027 which FRR threw out so w are now waiting for Arbitration on a block with no gas (or so they now say).
If I had a strong case I would not offer any concessions however, it seems that FRR did seem to offer a 50/50 deal with the GG. So prior to the final ruling it seems the horse trading continues.
The US letter seems to have rattled a few cages in Georgia and Russia raised the stakes will this push them East or West.
I now doubt that we will be thrown out of all of B12 (why offer a compromise) but the value of years of data gathering (and spending 400Mil) will be a significant factor for the Arbitrators to take into consideration (the NSA report and subsequent drilling results will only strengthen FRR case. Unless FRR have broken their LtO contract then I can’t see a total loss. GG failure to pay their Vat bill will also weaken their hand as would KK outbursts in 2016 about FRR. So its not the first time that they have claimed we have no gas.
All to play for.
Potential is much larger than previously explained.
Good news and easy to understand. All in writing
while the shorts are in pain. That's what you have to
expect on risky A I M . I am only an INVESTOR. Shorters are not.
They can rot.
they no EVIDENCES!!!!!!!!!
Is FRR under an NDA with the USA
I would say why throw in jeopardy a US free trade agreement, joining NATO's, damage business climate.... ALL for what...AN empty box??
Houston, Texas, U.S.A. - 8 October 2015
FRONTERA RESOURCES UPGRADES GAS POTENTIAL IN GEORGIA OPERATIONS
Frontera Resources Corporation (London Stock Exchange, AIM Market - Symbol: FRR), an independent oil and gas exploration and production company ("Frontera" or the "Company"), today provided an announcement of a significant upgrade to gas resources associated with its ongoing exploration and production efforts in the country of Georgia.
The Company recently announced that it had continued to advance its natural gas focus within its eastern Georgia holdings by combining the technical focus of its Mtsare Kheve Gas Complex and Taribani Field Complex into one integrated 2,000 square kilometer geologic unit called the South Kakheti Gas Complex. In addition to gas resources previously identified for subsets of this combined area, Frontera's ongoing work recently concluded new estimation of as much as 135 trillion cubic feet (3.8 trillion cubic meters) of gas in place from reservoir targets found between 300 metres and 5,000 metres in depth. An independent assessment of Frontera's new internal estimates is now underway.
Earlier this year, during the month of April, Frontera announced results of a report it commissioned by the U.S.-based independent consulting firm of Netherland, Sewell & Associates that confirmed combined prospective natural gas resources of as much as 12.9 trillion cubic feet (365 billion cubic meters) of gas-in-place, with as much as 9.4 trillion cubic feet (266 billion cubic meters) of recoverable prospective natural gas resources at the Mtsare Khevi Gas Complex and Taribani Field Complex.
Following on from this assessment, extensive geologic and geophysical studies continued within and between the Mtsare Khevi Gas Complex and the Taribani Field Complex areas as the Company has believed that these areas are part of a common geologic complex. As a result, ongoing exploration studies have confirmed an extensive integrated gas resource potential that is much larger than previously identified.