Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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The split under the PSA was FRR 49% and GOGC 51%, therefore with the 5% RA the GOGC gets 53.43%. I think from memory that the split was listed as 50/50 before, except for the small print in the PSA, which was 51% and 49%.
Bigun2 - I have never been down under and had never heard of that website.
Tsbs - Do you honestly think Zaza has time to spend posting on here, with all the court cases, negotiations etc.? If I was Zaza I wouldn't have had to evolve my theories with each new snippet of information. Plus we don't know that any of my theories are correct and I'm sure Mole still thinks I'm wrong about the auctioned oil. I wouldn't mind swapping my 4.1m shares for Zaza's 1.04bn shares.
Baker Hughes would be at the helm IMO.
Wish I understood all this.
Has anything been resolved?
The arbitration?
YA debt?
OR/SH claims?
Do we or don't we have employees?
Is anyone getting paid?
Are we producing any O&G?
Finally when do the 2018 Chrissie presents arrive?
No rush folks, time is nowt to a frr holder, or so it seems. :))
loose lips sinks ships!
As it now looks very much like the asset has been moved would think that there will be no problem in both parties coming to an agreement concerning arbitration.
Still too soon imo. Let it take it's course because I'm certain that there's still plenty of stuff going on behind the scene.
We'll hear something soon enough..
Good luck investors
Shatner: isn't that a different company number to the other one?
It's all double Georgian to me!
Maybe it’s time for FSG to attempt contact with Zaza again. Seems like things have moved forward in a big way
Well if they have successfully transferred the asset to the new company and out of Hopes way but lost 50% of the PSA to the GOGC and settled the arbitration then I will settle for that. The court case is just fluff as B-2-0 and Kickmuck said.
Roll on next year I just hope Zaza thinks of his shareholders in all this. I guess as they both have lots of shares you would think they would. GLA
Just found an old document from 2017 which also states 50% : 50% hmmm..
https://www.companyinfo.ge/uploads/docs/25254/252541-B17050285.pdf
If half the asset is the price of an arbitration agreement I will be more than happy with that.
so if this is the case as in sharing the asset then think most would take that! we just divide MPs figures by 2 and we still have a serious multibagger!!
That document shows a 50% PSA, 50% FRR and 50% GOGC. The IP number is 206237491 and if you search the same site for that number it relates to.
JSC Georgian Oil and Gas Corporation
GOGC. So it seems they did get more than they wanted!
Syric, I'm actually reading differently (wrongly?) i read it that they now own 50% of the asset which is significantly different to 51% of the production.
TSBs the profit agreement was 51% / 49% to start, so it seems more or less the same to me.
Does this mean a new CPR has been placed with GOGC and state oil have the data to confirm acceptance.???
Would this not then imply that the Arbitration has already been settled?
Zaza was reported to have said a five point plan had been agreed with the GG. Is this 'Commitment' part of it?
Great find Oopsi.
If it's anything like the UK then the 'trouble of doing it' is very minimal: a few minutes and a minimal payment.
The significant thing is the fact that GOGC are involved. They must have consented...
Also of significance imo is the retention of the Frontera name. Why not call it GOGC Georgia East? Well presumably so that we can bid for other licences (eg in Ukraine) and point to successful operations here in Georgia.
So we have yet another positive sign ... we just need to get this over the line from the mega precarious financial position we are in.
GLA
Roll on Christmas Eve.... :-)
The one thing it does show given the recent timing of the filing is that there is life - you wouldn’t bother going to the trouble of doing it if it was lights out.
The one word that sticks out is “commitment”. I don’t know if that’s just the word that google translate has used but it coupled with the 50/50 split is the type of terminology used when setting up a joint venture.
My reasoning :
There is an Aussie horse racing tips website called MadPunter.com that advertises itself as
" Mad Punter is your reliable source of horse racing information to keep you in the game"
which could easily be transmuted to
"Mad Punter is your reliable source of FRR information to keep you sane"
:-)
it would be life changing.
Just who is MadP?
Could MP be actually the third man? :-)
Could it mean they now own 50% of the farmed out 95% of the PSA? Therefore now have 47.5% of the block and tying up with madpunters theory!