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Phil
Think can remember ZM.saying along lines of what you mention on the handing back of the unused land.
As you say though we just have to wait & see what comes out over coming weeks.
The GG I believe only issued the termination notice after FRR said their claiming victory in the Arb and statement were incorrect. I assume this along with not immediately handing back the land riled the GG, even though FRR has apparently so many weeks by the Arb to do so. I am assuming here the not giving back the land immediately was the more pressing issue.
The latest GG statement seems to just reconfirm what we already know. Confidential nature of Arb results and possible confidential documents. The GG keeping on much the same tack. I get the impression though that the GG know they will get the land back within the timeframe allowed they are just trying to put pressure on FRR to do it sooner. I also get the impression that there is something being batted around here in the background that is of significance to both parties. Whether that is just the land or possibly something else we may only find out after a bit more waiting I'm thinking.
What like these .jeez
News ?10 Dec 2018 11:58
$10bn buyout imho
JRjnr
Posted in: FRR
Posts: 4,785
Price: 0.345
No Opinion
RE: Patchy News ?10 Dec 2018 11:48
wait until 18th - Hope deal minutes before walking into court....then the big reveal will follow very shortly
JRjnr
Posted in: FRR
Posts: 4,785
Price: 0.34
No Opinion
RE: Up She Goes07 Dec 2018 12:11
0.8+ next week.... case settled - partner announced imho
SteveV. How much time have you got?
https://youtu.be/-b3XTj5G_SA
Surely someone should be asking the tribunal for clarification. i.e. was their intention in the ruling for FRR to simply hand back the 99%, or, in light of the PSA terms, hand back the entire block.
Would that not make the whole issue crystal clear.?
There has to be some truth in wha tboth are saying but what that truth is and which will win out is another question.
Mole confirmed a while back that the data would ahve been shared with GOGC as 50/50 partners..
Tsbs. Yes but FRR have years of seismics to get to the possible sweetspots, that must mean alot in terms of costs and time for the GOGC.
its pretty simple, theyve seen the value, a deal possibly that a consortium would pay and they want it for themselves.
A bit like a handful of the top Russians walked away with the riches in Russia years ago
They've been given the opportunity they needed and are now taking it. Its not rocket science
Now we just have to see if they can pull it off and if zaza and the USA can stop it happening
They will just ride out the storm until it dies if they make it to July 27th
“As a result, FRGC must reimburse GOGC with approximately 6 million USD for mineral resources usage tax and for legal expenses resulting from the arbitration proceedings. “
As per yesterday (inc KPMG): are these the best awards out of the 14 that the GOGC can claim? Smacks of desperation as well as backtracking. The GD party are on the back foot and they know it! IMO !!!!
GLA
But the judgementof the arb has only confirmed that a breach has occured now.. so presumably there may be a clause which allows the lands to be returned to remedy that breach, all I am saying is that there is provision for the remeding of breach. GOGCs action do seem to fly in the face of the spirit of what we know of the Arb award. They could be pushing thier luck.
The press are picking up on it - its late night for me so hope I wake up to more developments in the morning
https://agenda.ge/en/news/2020/1677 (in English and a rehash of the GOGC statement)
If you are right about Zaza hoping he wouldn;t have return the lands Its possible that the Arb ruling also allows time in which to carry out the transaction in order to remedy the breach
"Where there is a clause in the contract covering termination, it is important to follow any specified notification requirements and time limits. You may also be obliged to give the party in default an opportunity to remedy the breach within a certain time."
In Moles last post he suggested otherwise.
As follows Moles comments.
Your latest post is high lighting the affiliate connection. If FRR us is affiliated it should not need GG approval for the transfer per section 27 of the PSA only written notification which is what that is. That doc and the others in that set are the response to GG not accepting the registration. If you keep going you will start to pick up the FRR US registration of a foreign branch subsidiary. Also attempted to be blocked at registration. When Zaza talks of obstruction in these transactions you can see some evidence of it.
SR.. but in practice... do people actually cancel contracts for material breaches? would it be out of the orderinary.. ie challengable.. odd that it was in the contract in the first place. Also odd tha Zaza seems happy enough to hand hte lands back now.. why didn't he isn 2017? Feels like a game of cat and mouse to me.
fair play to you fellas still here and believing !
have we won yet??
JRjnr - I pray you are correct. We deserve no less.
I think JRJnres point is that a meterial breach is not as serious as repudiary.. however the contract does state material.. I would say considering the investment and time that has passed it would be a little odd to cancel the contract on such grounds
https://en.wikipedia.org/wiki/Breach_of_contract
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A material breach has been held to mean "a breach of contract which is more than trivial, but need not be repudiatory ... which is substantial. ... A breach of contract will likely constitute a material breach if the term of the contract that has been breached is a condition of the contract.
Jrjnr post from end of april, he has a point tbf
"Not far from the mark...
The bulletin boarders need to look up the difference between material breach and repudiatory.
Not a cats chance in hell that GG can terminate for a material breach on Taribani.
It looks like a lot of posturing whilst the real deal in the background is being thrashed out"
if the gogc know that frontera wont release a statement then they would carry on attacking them wouldn't they
Zaza has said they will work on a one together, why would he say that ?
It looks as though we don't have leg to stand on but we'll see
And while I don't like it, I also don't discount that GOGC are right in the absence of evidence from our side. Hopefully this latest move (I wonder if in retaliation to the youtube video?) moves the pieces a bit more and we get see more of the story.
StarRage: having read back through JRjnr's posting history, sadly (no offence!), I agree with you.
MadP - back and have now had chance to slowly read the new statement. I always thought the Arbitration was in Stockholm but this mentions Hague!
I would say though scathing in tone, it is a return to the original position and you absolutely can say it could be read as a talkback of the more recent position. It doesn't mention the asset move issue.
It could also be read as at the end of the day -FRR pay USD6m.
But the material breach is mentioned multiple times so we cannot forget that fact.
You could say - GOGC issued original statement, then issued the termination, then said they wouldn't comment anymore, and now release more comments that seems to bring us back to where it all began.
As do JRjnr's posts! (end up with more questions than answers).
JRjnr: please ellaborate.
Good to have you back JRjnr