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The penny finally dropped about time, just sit back and wait it's all we can do.
Jeez ...after all this time, all the sleuthing and all that has been put in the public domain we really are non the wiser re wether we will ever see any of our money back .
We await Hope trial
We await outcome of personal guarantee action by Hope .
We do not know judgment ( Feb 20) re personal guarantee action by Mourant
We do not know if we are producing any product
We do not know who we have paid
We do not know how much money we have
We do not know how much money we owe
We do not know if any partners are still working with us
We do not know if any potential partners are still interested in us , NDA’s etc.
We do not know true result of Arbitration
We do not know what we asset we still have
And lastly and most importantly we do not know progress of liquidation, which may result in us loosing our main asset irrespective of a positive Arbitration result or not
We have gained a lot of knowledge of what has gone on surrounding all these issues but basically after all these months and digging , in relation to the possibility of future money in our pockets from our investments here , we shareholders know ....Sweet F.A.
It could be that GG went into this whole thing with the intention to take back 100%
They clearly see the non return of the 99% as a material breach, and it says in the PSA this is grounds for termination of the PSA
The GG seem hell bent on this, but we don't seem to know right now if returning the 99% repairs the material breach so the PSA can't be terminated, OR, having made a material breach they ARE at liberty to terminate in any circumstance, if they choose to.
Zaza will not rest until a resolution is found.
Scripts. I can't say I agree with your last 2 sentences, as I'm hoping Zaza's intervention causes a public reaction in the upcoming elections.
The GD get kicked out and a western looking government recinds the termination notice, allowing a deal to be made with any SMs and we get a life changing divi.
if frontera win this fight and they still have the licence does that mean the long process of finding funding and putting pin pricks in the landscape goes on and on with the usual can kicking or does the lot get sold in a major deal
just want it over with
Earsbern: thanks for reposting; some of us miss what is said on ii.
Just to correct SB: the termination notice was actually served on 27 April.
Having re-read Zaza's statement from yesterday, I felt more positive than I have done for a while and I think it was because he used the word "shareholders" twice. It suggests to me that he may not have forgotten us. I guess the extrapolation is somewhat remote but there you go :).
GLAd it's still sunny...
Just mention that the release of report, is now to be ok by Frr once they have taken out what they see as sensitive info.
Let's hope above, is over next 4/5 weeks
Oh damn. Cancel my last apology and accept this one. Symore's post was from this morning. I'm going loopy. C'est la change....
My apologies. I've just realised that Symore's post that I just copied was put on ii 27 days ago. C'est la change ....
In one way, you have to be glad that all this tit-4-tat arguments are being done in the public domain, because at least we can see what the hel l is going on. So, in the last 24 hours, first we get a statement from the Georgians and then last night we get Zaza’s rebuttal. And it was a pretty strong pushback, accusing the incumbent Govt of chasing out American companies since 2013 (I think that was pretty evident when we were trying to secure the gas transportation license). This Bidzina fella has chosen to put himself between the Americans and the Russian and ultimately the Georgian public will have to decide if they want to be with Russia or EU/US. Slowly, slowly, you start to realise how tough it been for FRR since the Dream Party came to power, squeezed by Russians, Azerbaijanis and even indirectly Iranis? For what? A Block that apparently contains little or no oil or gas? Also, interestingly, the unpaid employees also dragged in to this political warfare and appearing to take the side of the Govt - so much for loyalty to a company which was also doing a lot on CSR such as providing health checks.
So despite all the public rhetoric, we are non the wiser on who’s right, who’s wrong or does the truth lies somewhere in the middle? But it was good to read Zaza reaffirming his commitment for a joint statement but Georgians unwilling to engage. I also think Zaza is correct that releasing a 152 page document would be unwise and a little impractical given some sensitivities around people and commercial discussions.
My take, for what it’s worth, I think the Georgians went to the Tribunal to get clarification on whether FRR was in material breach of the PSA, not to seek a judgment to cancel the PSA per se. They feel they have this clarification now and hence the notice of termination was served on FRR on 17th April. They are presenting this as a commercial dispute supported by an independent decision process but in reality everybody can see what Bidzina et al are doing: how can they get away with robbing an American company that has invested $560m plus all the good work promoting Georgia in the US and Europe.
So, from what we read, there are mainly three areas where the Georgians wanted the Tribunal to opine: non payment of mineral tax ($200,000), return of unworked land and back-dated payments ($100m?)from the sale of o&g. From Zaza interviews, they will pay the advance tax and have returned the unworked land but apparently there was no money due from historical O&G sales.
I am sure there is a lot of talking going on behind the scenes but will it lead to a resolution? Doesn’t look like it.
The GG must be sweating, Zaza seems to be making this as public as possible to the Georgian people (hes only done Georgian interviews) and if he releases the arb documents (which we hope will show zaza is telling the truth) then the Georgian people will clearly see the GG have attempted to hood wink them with false info. I bet the gg had no idea Zaza would put up such a fight and bring so much attention. their last statement almost sounded like they were begging FRR to stop.
The Georgian PM saying that he will not let one company ruin the Georgia- US relations....... did anyone tell the PM that the USA only make friends if they are set to benefit from that relationship?
Political posturing on part of Zaza, in that he will create so much negative press around the GG that it will further damage an already tainted view of the GD that will ensure they don’t get re-elected. The only way for the GG to stop him will be to cancel the contract termination notice. Therefore a possible deal can be drawn up (if we believe this), Georgia can get its energy independence and the GD can take credit for it. Win win. As opposed to the alternative, Frr lose it all and the GD lose power in Georgia. Lose lose.
Still as always we wait & see.
Even though it is still only ZM talking via interview. I just feel this interview gives more credence to what ZM has been saying then previous ones.
With a firm standing on holy ground would be as vocal as Zaza has been imv.
Let us pray that I am correct !
After reading the translated script from the interview I fully believe zaza - his comments not only relate to present day but give you an insight into some of the Major issues they faced throughout the years of Dream Party power.
Also his analogy on the current situation is spot on - no winners in the current scenario.
The GOGC, on the other hand , just press play and repeat - we won- we terminate - we rule. It’s not credible and certainly not how to manage investor relations with billions at stake. It’s just bully tactics - and these tactics are seen more and more in modern day politics - even in the Great UK !!
How things can be resolved - I don’t know, but I believe zaza! Just my opinion.
Unfortunately that’s probably more likely than not!
Unfortunately SR I doubt it July will come and go and Aug (?) note payment will come and go and we'll then be talking about the elections being the defining moment, then Christmas then ??? ....finally it's pretty clear why no share holder comms there's nothing he needs from us or i fact can get from us i'e. placing ' etc.
They are possibilities I guess but personally I don’t agree with the view that all the GOGC statements are just political posturing. I guess we’ll know for sure come July.
Scripts: or the GG say we have now got all this oil and gas and if you vote for us you can partake in Georgia's renaissance and prosperity. Vote Georgian Dream.
Just playing devil's advocate.
None of us have a clue. But the clock continues to tick down...
That should read. Or everybody wins.
No SR... the GD may withdraw the termination notice to save their chances of re-election and avoid the negative press. .. Zaza could be saying either everybody loses all everybody wins.
If that's correct, releasing the arb document after the elections won't make a difference, as the contract will already have been terminated.
Another possible theory - the Georgian government did win the arbitration and it’s exactly as they say, they are entitled to terminate the contract. That being said Zaza has now set out to discredit the GD and ruin their chances of re-election by spreading false news and having America turn against them. The GD Now need to make a decision, as to whether to proceed with the termination or withdraw and come to some kind of deal with Frr so as to avoid the negative publicity.
The reason why I say this, is due to Zaza now having been on all media outlets (newspapers, radio and tv). If we consider that the GD read these statements too, Zaza may be speaking directly to them when saying that “it will take time” to redact the 152pg document, it’s a genius touch, in my opinion it rules out any chance of release if the arb awards to the public before the elections. At which point should a west facing government be elected it will be too late for the Georgian dream.
Just my opinion.