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WHamBoy - I don't think it has any relevance. Georgia typically scores high on ease of doing business. The UK is one of the main sources of inward investment. Investment in energy is the second highest market of FDI. For sure EU status would be a "nice to have" and would increase some level of integration, but the lack of it it doesn't seem to be pausing investments.
To date I believe Georgia has only fulfilled 3 of the 12 requirements as set out by the EU.
"You have to be in it to win it. Put all your eggs into one basket."
I sold the lot when this Share seemed wrong. "Do you suffer from
self-harm?" What a dreadful question to ask and under pressure
I bought the lot again and topped up. Short sellers thought she is mad.
They collect their loot and fill their boot and find the next train
again and again. On HL I did the same and was dumped when I
knew how to play this game. Finance can turn common sense folks inane.
Jv 123, incompetence everywhere and nobody cares. They catch us on-line where
no one is safe. They fleece the rich, the poor and kill each other. Few at the top are like
birds of a feather sticking together. I once was an au pair. For 24 hours I worked non stop.
Then ran away and found a good job and soon a better job . Never in finance for I do not
like to rob.
My hunch is that the company is fighting for its rights in a foreign company through the courts in US. If they don't stick its all for nothing
If the licence is not extended its lights out.
We’ve had a million different reasons for the failure of FRR - political landscape, unfavourable government, bad men undermining the board, wars etc etc.
However, the real reason is incompetence. The company has been in Georgia for 2 decades and delivered nothing. Even now, they hide behind their legal battles, choosing not to talk to shareholders (the majority anyway) and dragging things along month after month, year after year. The saga never ends.
They care not a jot about the money we invested.
It does make you wonder how they could get things so spectacularly wrong and yet still exist and continue to deliver nothing of value to anyone.
If the value is there, why hasn’t it been exploited? Why has it not been taken over by a major ? Surely, in these times of need where O&G is in demand, the goal would be exploitation by fastest means possible ?? Where is the pressure from Georgian goverment to make this happen asap? Do they care about FRR? You’d think they would if the reserve figures are to be believed?? Why no pressure then?
Why is FRR fighting YA over a couple of million when the value of what’s underground far outweighs that ?
Delay tactics for $2m when you’ve spent $500m proving up your resource doesn’t seem like logic to me ??!
If the goal is to return to operations and create value then this should be the absolute priority - everything else should be swept aside to make that happen - if that is the goal?
The whole thing baffles, frustrates and angers me in equal measures. I’m probably naive but I just don’t get it.
I don’t see the light at the end of the tunnel.
Lovely lady Mapp, I believe our leader fights for us, unlike Sam Bankman, who is now fried!
With luck his investors will get some of their monies back?? Just like we will get ours🙏
What you seem to fail to take into account however Abkhaz is that it would affect the price paid for such an asset. More risk means a lower price paid and vice versa. Perhaps your absolute certainty should have been a little more nuanced maybe?
It means absolutely nothing and is almost entirely irrelevant to O&G which consistently works in challenging jurisdictions.
I wonder how much the impending decision on EU candidate status will determine our eventual success or failure. The decision is due at the end of the year and potentially buyers of our assets may be holding back until candidate status has been granted.
https://ecfr.eu/article/the-geopolitical-tightrope-balancing-georgias-eu-candidacy/?amp
Block 12 belongs to investors of FRR .
We may be lucky? Lost precious share turns up again.
A rare surprise on AIM.
@ Steve Nicandros and FRUS.
There's a few old investors here. Can we leave anything behind for our children/ grand children. Will we too have a second to enjoy, relax before our last breath...
An updated article to what tsbs1 posted.
"We will try to bring in a strong technological company" - there is another oil and gas field in Kakheti
Elene Gogberashvili
01.11.23 18:00
The Oil and Gas Agency is planning to bring an international investor to the 10th license block in Kakheti. According to the head of the agency, there are historically both gas and oil reserves there.
The said license block is 4,336 square kilometers and includes the districts of Tianeti, Sagarejo, Akhmet, Telavi, Kvareli, Sighnaghi, Gurjaan and Lagodekhi.
"We have a free license block in the direction of Kakheti, where we are thinking of reprocessing the materials in this area to offer to investors. It is a block with a large area, in an interesting location, there was a well drilled historically, in which there were both oil and gas occurrences.
We will try and try to bring in a strong technological company that will develop this direction as well", Giorgi Tatishvili told bm.ge.
The volume of oil and gas extracted in Georgia is increasing. According to the head of the State Oil and Gas Agency, this year oil production has increased by 200%, and gas production has increased by 140%. The Agency hopes that the last recorded indicators of the year will reach the 40,000-ton mark in the case of oil, and 15-18 million m³ in the case of gas.
https://bm.ge/news/vetsdebit-dzlieri-teqnologiuri-kompania-shemoviyvanot-kakhetshi-navtobisa-da-gazis-kidev-erti-sabadoa
Mngmt must have an ounce of decency, surley tell us if we're still in it.
The company update last year appear to suggest they were returning to operations. If both GOGC and FRR share the license, who's taking the profits? Oil & Gas prices are getting higher, who is benefitting?
This should be sorted soon.
Nigel
Thanks for the update Looed, Jonathansxx, you could be spot on with gov elections, not sure the money issue would be it after entering these court cases, the fees must be truly huge, yet still we fight on.
And yes the ad’s are a pain in the bum, but lse of course do offer us an ad free reading zone, it just costs money.
GLA real holders
I agree it seems very flimsy but perhaps that is all that is needed to comply with Texas civil code.
Seems a bit of a flimsy reason, are they kicking the can further down the road because they haven't the money, or waiting for a government change in 2024?
Adds are a nuisance but are a money spinner for London South East, LSE.
The Internet makes or breaks. They catch and fleece us and throw us overboard as soon as
we refuse to be bullied.
FRC have petitioned the court for a new trial stating -
"Defendant now files this Motion for New Trial seeking a new trial in the interest of justice and for the purposes of extending appellate deadlines. See Old Republic Ins. Co. v. Scott, 846 S.W.2d 832, 834 (Tex. 1993) (stating that “[t]he filing of a motion for new trial in order to extend the appellate timetable is a matter of right”)"
You have adds on the top of the page to left of page and the bottom of the page the adds on the left are too big and covering the posts, so I can not read all of the post where is the logic in that, or put them on the right as well and then nobody will be able to read anything.
Many thanks Jim, I also send a request but I think its as you and seisprocessor have stated.
I think the article that tsbs1 shared is more of a wish list for a Georgian Santa - "we are thinking'..."we will try" etc. I don't see anything specific in it.
I will dig some more and thanks to tsbs1 for sharing.
Just found it and wondered if it was anything of ours wasnt sure but super sleuths will get to bottom of im sure probably not our block
ours is and will always be under the control of CIA to hide their activity
It sparked my interest as it stated 51/49% WI. would be ideal if it was ours and being sold for cash, but it just related mainly to an investor to manage the project.
Thanks Jim.