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This started off looking like Georgia against little Frr now though it is Massive USA against little Georgia.

As previously cannot see this all going in one direction & if that is the case then any appeal would I feel be turned down.
Overall though would say, let's see the outcome before thinking on both sides next move.

I would be thinking that at very start of this, if anybody knew all of this was on it's way & not knowing what will happen then they/anybody would invest much, if at all into Frr.
Now though we are at the end of the arbitration & have some sort of idea on it & have an outcome in coming few months or so.

On the statement, generally I have no worries on it not being from Frr.

ODR
As usual we, wait & see.
At least this time round once we get an announcement on outcome or just maybe both settling the wait will be over.

Overall, as long as frr have 2 out of the 3 sitting looking at this in a favorable way for Frr then it will not matter where the arbitration was held.
Just hope that they do not take too long on making an announcement.

The below letter was issued by Hogan Lovells [legal reps for GOGC] dated 31st January 2020 and has been posted before on another thread, but deserves further careful reading. In the letter, it says that the hearings were conducted in London in December and “are concluded”.

The next step was for any ‘final submissions’ due by the mid-February before the 3 arbitrators deliver their decision. Clearly, release of this letter was directed towards the Congressmen after a flurry of ‘finger-pointing’ Letters from the US. We know some high-level Georgian Officials met US officials last week and we can only hope that some friendly pressure resulted in a resolution. But my gut feeling is that they will not budge because of Ivanishvili’s interference and so it will be over to the Arbitration…

Anyway, here is the contents of that letter…

"Hogan Lovells claims Frontera’s accusations against the Georgian side to be baseless
31 January, 2020

Hogan Lovells represents Georgian Oil and Gas Corporation (“GOGC”) and the State Agency for Oil and Gas in arbitration proceedings arising from and relating to breaches by Frontera Resources Georgia Corporation of its obligations under its 1997 Production Sharing Agreement (“PSA”) with those entities. Various material breaches of the PSA have been asserted over time, and those issues are required by the PSA to be resolved by arbitration before an impartial international arbitration tribunal following international rules.

GOGC and the State Agency followed the contractually bargained-for dispute resolution procedure in the PSA, by initiating arbitration proceedings before an international tribunal appointed under and in accordance with the PSA and international law (the “Tribunal”). The hearings on that matter were conducted in London in December and are concluded; the parties await the Tribunal’s decision. GOGC and the State Agency have committed to respect, honor and abide by whatever award is issued by the Tribunal. Consistent with this clear respect for the rule of law, GOGC and the State Agency have refrained from initiating action to interfere with Frontera’s continued exercise of rights in the disputed territory, even though GOGC and the State Agency believe Frontera is without rights in that regard.

The issues in dispute form a standard, customary commercial dispute, and the Georgian entities involved have acted properly in invoking contractual remedies and disputes procedures. There is simply no basis to claim otherwise. Nonetheless, Frontera has, without justification or factual basis, asserted otherwise and attempted without factual basis to place blame upon the Georgian parties with which it has dealt.

Frontera has sought repeatedly to delay and impede arbitration proceedings in various ways, with the result that they have been protracted. However, GOGC and the State Agency have adhered to their respect for the contractual requirements and the rule of law.

We would be happy to provide addi

One thing is that this info in the statement must be along same lines as what has been said/shown to the arbitrator of which reads well.
So still believe as few others that in any outcome from the arbitration, it will show some compromise from both sides.

Last one
The mandatory contract investment program was $ 18.5 million. The company has exceeded this obligation by about 30 times.

Reads in a positive way for info put into arbitration on Frr adhering to the contract. In what would think, is a very important part of the contract.

Total investment in oil exploration and extraction since 1997 is approximately US $ 580 million.

The above has gone way above the original $400M that has been mentioned a good few times over the yrs.

Every time I read it something new pops out!

"Together with US banks JPMorgan, Morgan Stanley, Shell Capital and Deutsche Bank, they began investing in the 12th Block Project, successfully performing three-dimensional seismic research, drilling up to 60 wells with modern technology, horizontal drilling of oil wells with leading US companies, Netherland With Sewel & Associates, Ryder Scott and Miller & Lens approved the 12th block of oil and gas reserves. (The acquisition of these supplies will fully meet the country's demand for oil products and natural gas consumption and increase the volume of Georgian oil and gas exports.)"

And -

"total investment in oil exploration and extraction since 1997 is approximately US $ 580 million, while US $ 60 million worth of oil and natural gas has been extracted and sold during the same period. The state has received tens of millions of dollars in taxes. The project employs hundreds of people."

Not sure if these figures match what others have or have estimated i.e. Madpunter

Part 2

It is also noteworthy that Frontera Resources fully assumes the responsibility and risk of capital investment in the project, with more than half of the oil and gas profits owned by the State of Georgia.
The company began harassment from the state in 2013, which resulted in the issuance of various types of operating permits and repeated attempts to revoke the license to extract oil and gas.
In 2017, the State and the Georgian Oil and Gas Corporation launched an international arbitration dispute against Frontera, which significantly hampered the Company's operations and the inflow of planned investments in Georgia.
Nevertheless, the company hopes to continue implementing the multi-billion dollar oil and gas exploration project, which will bring energy independence to Georgia and provide its people with greater material benefits.
It is a great honor for Frontera Resources Corporation to be part of Georgia's economic revival, ”the statement said.

part 1

The Merrick oil company Frontera has issued a statement. It has recently spoken about a company in Georgia that Frontera calls "incorrect and incorrect."
Interpressnews offers the following statement:
“Frontera Resources Corporation responds to recent incorrect and often incorrect information about the company in Georgia. Frontera is an American oil and gas exploration and production company headquartered in Houston, Texas, USA.
The founding shareholders of the company are prominent representatives of the American energy and financial industry, including Baker Hughes, Conoco, JP Morgan, Shell Capital and many more. Since its inception, the company has worked in Texas in the US, Latin America and the Black Sea.
In 1996, Frontera signed two production sharing agreements in Azerbaijan, where it began oil exploration and production that same year, making it the largest foreign oil company in Azerbaijan for several years.
In 1997, the company won a tender announced by the state of Georgia and obtained a license to conduct oil and gas exploration and extraction in the 12th block of East Georgia.
After a year of negotiations with the Government of Georgia and after the terms of the agreement were agreed with the Cabinet of Ministers, the State Investment Council and the Parliament of Georgia, the Company signed a Product Share Distribution Agreement with the State of Georgia and the State Company Saknavobi.
The mandatory contract investment program was $ 18.5 million. The company has exceeded this obligation by about 30 times.
For the first time in its history in Georgia, Frontera:
Together with US banks JPMorgan, Morgan Stanley, Shell Capital and Deutsche Bank, they began investing in the 12th Block Project, successfully performing three-dimensional seismic research, drilling up to 60 wells with modern technology, horizontal drilling of oil wells with leading US companies, Netherland With Sewel & Associates, Ryder Scott and Miller & Lens approved the 12th block of oil and gas reserves. (The acquisition of these supplies will fully meet the country's demand for oil products and natural gas consumption and increase the volume of Georgian oil and gas exports.)
In 2004, he placed shares on the London Stock Exchange for the Georgia Project. This was the first time the Georgian stock market had raised capital. This transaction successfully introduced Georgia to the international stock market capital market.
The first gas pipeline and compressor station was built to supply locally supplied gas to users in various regions of Georgia.
Total investment in oil exploration and extraction since 1997 is approximately US $ 580 million, while US $ 60 million worth of oil and natural gas has been extracted and sold during the same period. The state has received tens of millions of dollars in taxes. The project employs hundreds of people.

It's a statement not an article from media. So has more credence to it.

As this is something big on all of what has been happening. Would be good to have it reposted a bit later.

See what you are saying now.
:-)

It is not saying who founded Conoco, but who started up Frr.

Will add that it seems to read that they have a good case in the arbitration.

Looed
Excellent
This shows Frr are still properly alive & kicking.

There was a meeting last week that it was said that Frr was mentioned & the write up from GG/GOGC looked to read in a favorable way from what can remember & think Bezzy was upbeat on it.
There also, is Gipps theory that looked to have some wait to it.
In end though we wait & see, as usual.