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ODR
I think the only ones that should apologise, is ZM & SN, but that might change on if there is good reason for this 100% silence.
Ok; apologies.
ODR
why I started with "on it being the case"
Just need to wait & see, as usual
Arsenal: we ought to caveat that with the fact that we have only heard that from a Zaza quote ...
GLAdioli
On it being the case that Frr have been offered to continue up until 2027. Would think that maybe GG are thinking along the lines that Frr have to reach some form of target in a few areas & on reaching them then GG would come to a full long term agreement with Frr.
Just another thought.
Hi Ivy
They will have some input but given the wevare open to investment, trust us and the fact the GG have also been lobbying senate - maybe tbe GG are falling on our side in this arbitrational discussion
Hi Prodigy,
Thanks for reminder but aren’t the GOGC largely influenced by the govt or have I got that wrong.
Anyway important bit is the arbitration is decided by an independent body of the oarties can’t agree
Ivy in really to your 11.06 post
It’s not the GG who we are in arbitrational conflict with
It is GOGC and SAOG.
Read page 6 onwards
http://www.osgf.ge/files/newsletterENG/transparency_background_report_ENG_UiZKc6FJJ.pdf
Bit of an insight to arbitration
https://www.lse.co.uk/ShareChat.asp?ShareTicker=OXS&share=Oxus-Gold-Plc&page=31
Bb still up amazingly.even after the arbitration loss there were posters hoping for 7p.
Worth a trawl.
I don't suppose anyone has a copy of the actual 1997 PSA document? The GOGC seem very confident of winning and have already chucked £250,000 in legal fees at it.
True, if the post 2027 situation is all that remains in the arbitration to be discussed then we might start coming out of the woods soon. I tend to get the impression that this month of November is perhaps the last particularly sensitive month for FRR. FFR also have by the 18th of this month to find replacement counsel in their case against Hope, if not I'm assuming it will all be dropped with FRR having to pick up the costs at some point. Overall if both end up out of the way then stuff could be happening from this December onwards hopefully on a more positive note.
I think that is based on frr's counter claim against the Georgian government. Let's face it most of people on here would be over the moon with $3.5billion dividend - whatever frr would keep for moldova/ukraine
Big gun,
If MP is even 10% correct many in here will be multi millionaires !
Ivy,
If what we hear is correct then the last piece of the puzzle is the length of the PSA after 2027 . That's the last piece of the arbitration puzzle.
I find that very strange as we have not broken any terms of the PSA until June next year , infact I think I read a post stating the PSA does not come up for review until 2022.
sounds to me like a deal is being done with the GG.
Arbitration is a scary word if you dont fully know what it means, if you are not sure Google it. No where near as scary !
you mean MP's valuations are a bit conservative... :-)
Zen that's an incredibly conservative number ... see MP valuations that I believe to be very fair.
I want $15-20 Billion
Gipp51, I like your optimism. $3.5 billion and this nightmare ends. We can but dream !
Think point made by CF73 in his 9.27 very pertinent and I quote.
The arbitration process is applying pressure in both ditections - remember, it's not GG overseeing arbitration, they are no thte judges
The arbitrators will be the judge and jury in this matter and let us nit lose sight of that fact.
Yes US govt pressure will help “ moderate” any issues and position of GG and help create the mediation background but at the end of the day if no agreement between the parties is possible there will be a ruling based on the merits of the case.
Contra
Exactly. It might mean that the GG pay us a fair figure for our time and expenditure say £3.5 billion for arguements sake . That £3.5 billion comes from a SM who then take over complete operations and then share the PSA directly with the GG and we move on to Moldova...
Overall, as long as Frr can show convincingly that they can progress with B12 then would think that a mutual agreement can be reached by both parties & on that happening then it should be all systems go.
Lets hope that the above does come to pass over coming weeks/few months.
It seems to me that Frontera are not without the means to to achieve a good result. If we are envisaging the involvement of an SM and BH then 20 years and $400m and all the detailed knowledge accumulated during that time cannot be dismissed and needs to be paid for one way or another. International convention demands no less.
The best way to achieve a successful outcome for all, and most of all for the Georgian people, is to reach agreement between all the parties so that these incredible natural resources can be realised in a proper, planned and profitable way.
I think ZM said at the meeting that most issues had been negociated succesfully but that they Frontera were looking for an extension beyond 2027 and would hope to have a resolution by Jan 2020.
As always eloquently written by Mole.
All ... and I mean all of our problems go away with money either from oil and gas sales which we have no idea of , a loan which we seemed to be on the brink of at the end of last year which was blocked by Hope or a JV or FO . I’m not going to say too much about a TO as that’s huge wishful thinking with so little of the block explored.
The initial well production figures that were released nearly two years ago were excellent and they were with no artificial lift. Production from T-39, T-45 and Dino could have gone up considerably with the help of BH and then there’s the associated gas.
As for a loan I seem to remember we had two that were being worked on one for $60 million and one for $150 million both at the time fell through because of Hope. It’s been 6 months since Hope resigned. We could well have gone back to those lenders.
Nico we had done a deal on, someone saw enough to fund that well again that deal seemed to be put on hold possibly because of what was going on with a SM .
Hope was strangling us to a slow death, possibly shorting the company (personally I don’t believe that ) but certainly blocking finance. Even he said in one of his emails that he thought the SP might be going higher soon or words to that effect.
We needed Hope off the board . That could be what this was all about. We have achieved that. Job done.
As for arbitration if what we are led to believe is so the last piece of the puzzle is the length of the PSA. Not a problem in my mind.
The main positive in my mind is the USA interest in the region , they want it tied down that’s clear. Georgia has nothing to offer the US except it’s natural resources.
In summary I disagree with Mole , positive steps have been made since April .
GL to all the LTH.