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Is there any up and coming court cases for FRR and any whispers about if production continues, or likely to restart. We are certainly in a time where any gas has increased value and not just monetary but also geographically for alternative sources for Europe. Anyone got a glimmer of good news?
I believe May in the next court case.
There is a hearing end Nov in the Mourant v SN, ZM case – repayment of a foreign debt. To some extent SN is working with the Plaintiff on this one, presumably to make sure any judgement against SN / ZM doesn’t fall solely on him.
Lots of chatter in the Georgian media discussing energy security and independence but mostly in relation to Georgia’s role as an energy carrier and transport hub. I think this is due to recent visits from nearby energy suppliers i.e. Azerbaijan.
Thanks for the input Looed. Still lots of haze around FRR. For me, it would be helpful if we could find out what is happening with the Georgian PSA. I guess the company continues to remain schtum because of the ongoing legal cases but they could give us a hint in terms of discussions with the Georgian officials. I presume there has been no word from your contact recently?
Monti
Even though would be great o having direct info from Frr that is not looking like until 2023.
On the PSA ext of 5yrs would think that Frr must be very confident of that ext being awarded to them, if not already.
In end, as usual though we hope on everything working out & Frr comeback in 2023.
Hi MontiBurns - I haven't heard anything. All we have to go on is the message that JimSlade shared which talked about them "continuing to make progress". They were very bullish in documents submitted in the Texas case regarding the 5 year extension but any replies were wither redacted or not submitted for public view.
So there's no legal cases known about for after this date? If so, hopefully good news in the new year!
If there are no further legal cases and the current ones are in the main 'academic', there is no reason why the company cannot expedite things now, recommence and re-list. After all, given the situation unfolding in Ukraine and the increase in hostilities today from russia, it's becoming more pressing that alternative supplies be introduced. That alone will have a 2-fold impact; no further dependence on russia and turning the focus towards a EU friendly supplier.
It's almost becoming a 'no brainer' situation where it's a win win situation.
Begs the question: What is delaying things?
Fairly obvious answer really, RU is still calling the shots in Georgia via its puppet regime, the situation in Ukraine will be focusing georgian minds on where thier loyalty lies, but to decide to lean west will inevitably incur the wrath of the Russians which seems in capable of fighting in the battle fields and targets women children and the elderly instead. The Georgians will rightly be nervous of kicking the hornets nest but how long can you live next to and under the control of fascist child murderers? They will inevitably make the right choice eventually, this as always is a battle of hearts and minds which russia never understood and for that reason can never win. Everyone hates them even the Chinese and Indians, tho that doesn't stop them buying cheap oil for the time being.
Everyone would be happy if it got sold to a major for a couple of billion and we all got 10p a share
Just to clarify, there are ongoing cases of which Mourant is the one with the next scheduled court date. There is YA, FIC, Hope in the US as well as actions in Georgia, the latest in Georgia happened las week.
Looed
YA, FIC, Hope - is that one case?
Do you mind detailing what you know in more detail. I used to know what was happening but don't follow to the same detail anymore and I'm sure I'm not the only one.
Thanks in advance
Nigel
Posted by Looed, regarding when we might hear something from the company:
RE: PSA03 Aug 2022 04:21
Lifeishard - I would hope well before year end!
What’s your view now Looed? Are you still hopeful that we will have news soon and before year-end? I think a lot here are probably expecting this to rumble on past Christmas, so I’d be interested to discover your latest thoughts. I know you have said you’ll not be able to reveal some news until after an agreed date has past, but just wondering whether your expected deadline has now drifted a tad.
BTW, I’ve not emailed the company for a while now, as they have never responded, but I still look in on this BB every day looking for an update.
Thanks in advance
Turbovb2 – They are separate cases and are related to past events in the Caymans / the liquidation of FIC. These cases involve Hope and / or various parties trying to get money from SN / ZM for services rendered while they were directors.
Then there are cases in Georgia. These should include criminal charges against ZM / others if the company followed through on its ‘promise’ to prosecute ZM and his associates. It will be almost impossible for us to get info on these criminal cases as they are rarely made public unless the company / Georgian Prosecutors Office make a statement.
There are the ongoing civil cases in Georgia against ZM / various corporate entities, but again, it’s almost impossible to get details on the specifics of these other than we know that a hearing is about to take place.
WHamBoy – We did get a holding message via JimSlade not too long ago. That message specifically referenced the ongoing cases. It is also possible there are other cases ongoing that we cannot access via public records. So yes, it is possible that it could be a few more months before we get a more detailed response rather than the recent holding message.
The next bit of news that might tell us something should be available at the end of this month when the Q3 lobby report is filed.
I hope this isn’t the kiss of death but seems like BLOE on a good path to hopefully some nice profits going forward. Germany doing deals with Georgia , so I am hoping if they can achieve success then fingers crossed we get these bloody court cases closed out successfully , then we also could reap the benefits …????
GLA real holders