RE: Hot off the press in Georgia9 Nov 2019 10:18
SB ii
Must give ‘the prodigy’ a standing ovation for working on this and delivering this revelation…what a corker. I don’t doubt the authenticity of the article as it makes sense on so many levels.
Perhaps FRR deliberately held back some payments to employees so they could put some pressure on the Georgian Govt to expedite the tax refund and license? Anyway, seems the tax refund issue may be resolved but the extension of the license is still pending.
At the Govt-to-Govt level, lots happening with the introduction of the Georgia Support Act, expected to be passed by the Congress in the next few weeks. Perhaps in this Act, there are special provisions for US companies operating in Georgia and hence strengthens FRR’s case when the next Arbitration hearing takes place in January. Remember according to the above news article, Zaza says that the investment case does not add up unless the license is extended beyond 2027 (now they have creaked the geology and can put these wells in to long term production). He also says funding from investment banks will be possible based on the extension of the license. The gas reserved for the Super Major(s)?
So, only a couple of months to wait (to January) but I think we could have some agreement with the Georgian Govt before year end (would be a great Xmas present!).
Although not out of the woods by any means, it’s starting to look a little bit better, with FRR’s voluntary request to withdraw from the Fiduciary Case, plus the personal hearings against SN & ZM in Texas pushed forward to January…Again, according to the above article, ’the crisis period is until the end of January’.
Thanks to the LSE BB Mob for their continued efforts.
Sign In
Follow the stocks
