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"cloudtag action coordinator". Or CAC, aka poop...
Thanks again, that makes sense.
Thank you Looed.
More delays then, but is there really any advantage to objecting to the court accepting YA II's evidence? What makes evidence inadmissible in any event, particularly when a court has previously accepted it? Does FRC see itself above the courts?
Good to see it close at 1.25 today, after a very quiet return.
https://www.google.com/finance/quote/BLOE:LON?window=5D
47% up over the last month too, the inclusion of CNPC cannot be overlooked and I look forward to news in that respect. Hopefully this will be a slow build in anticipation of any announcement, but given their involvement, they must be taking BLOE seriously. You don't send senior management just to pay lip service, so an announcement can only be imminent.
All looking good at the moment.
https://www.google.com/finance/quote/BLOE:LON?window=5D
The MoU referred by ODR1:
On 14 November 2022 SAOG and GOGC, acting on behalf of the Government of Georgia, on the one part, and Frontera Resources Corporation (“FRC”), a Houston, Texas USA international oil and gas exploration company and FRUS (wholly owned subsidiary of FRC) signed a memorandum of understanding (“MoU”) setting forth their mutual agreement regarding the assignment of the rights, interests and obligations of Frontera to FRUS. According to the MoU and the FRC and FRUS are imposed to pay to the Company all sums ordered to be paid to the claimants by Frontera and FRUS under the Arbitral Award and reimburse damages arising out of non-sharing by Frontera of the Petroleum produced from the Contract Area. Prior to the date of the payment the Company will continue operating on respective Contract Area.
Georgian Oil and Gas Corporation JSC - Notes to the Consolidated Financial Statements for 2022
According to the arbitral award and MoU, Company has right to claim GEL 16,488k (£4.8M) from FRUS. The receivable is treated as originated credit impaired accounts for balance at nil. Receivable should have been paid in November 2022, nevertheless due to non-repayment payment term was prolonged till 15 September 2023."
Why even allow this poster air time? Occupying space in your heads and taking time to respond? Feeding its ego and making it feel important. Don't you see, its feeding off your replies and then people rise to the bait. It needs help more than anything else.
Please ignore it, block it, whatever it takes, just don't respond and the board will settle into normal debate with important information not being missed.
An interesting article from Piscator on BLOE forum overnight, highlighting China National Petroleum Corporation (CNPC) interest in the Georgian area, where FRR have similar interests. What is of particular interest is a photo of Paul Haywood (CEO BLOE) standing next to the CNPC senior management at their Georgian well site (https://www.lse.co.uk/rns/BLOE/corporate-update-8ranmm53ivuczfl.html), suggesting negotiations are at an advanced stage. For BLOE holders this suggests a much needed share price increase, potentially well beyond those highs last experienced, since 18th December, having experienced a 41% share-price increase.
Should that all come together and perform as potentially possible, the parallel developments here could just coincide with those allowing a welcome, return of FRR to a potentially large market, which has always been available. The possibilities are further interesting, given that if CNPC is prepared to invest it creates a market for other organisations to head into the area increasing competition. accordingly.
Lets hope that Georgia's politics continues to remain more Western focussed (particularly in the light of Ukraine), added to Montiburns comment dated 22 Dec and the reply from FRR to JimSlade (18 Dec) dispensing a "few outstanding matters, while continuing to advance interests in Georgia", combined with the above gathers pace in 2024 and we can all enjoy a healthy return to market and recovery of investments.
It does all seem to be coming together, the ONLY thing we dont know here is the timescales required to resolve a 'few outstanding matters' and a return to market.
We sit and wait, but it seems BLOE may well now be leading the way.
"When a company is delisted from the public markets or trading in that stock is halted by the listing exchange, traders may be unable to cover their short positions because the stock no longer trades. However, the original loan to the borrower is still on record, and can only be closed after shares are cancelled and DTC removes all positions in the shares from participants' accounts or, in the case of a trading halt, the halt is lifted. That process can take anywhere from a few days to months or even longer.
In the meantime, the borrower may continue to have to pay Hard-To-Borrow fees on the collateral market value based on the closing price of the last trading day. The minimum mark is £1 per share but can be much higher, depending on how and when the delisting or trading halt occurred."
Always good to quote the source. In this case https://www.ibkrguides.com/kb/article-2880.htm. Interactive Brokers LLC
A member NYSE - FINRA - SIPC and regulated by the US Securities and Exchange Commission and the Commodity Futures Trading Commission.
Headquarters: Two Pickwick Plaza, Greenwich, CT 06830, USA
I think its replaced the 'T' with an 'X'
Https://thewest.com.au/business/boards/peter-landau-former-high-flyer-jailed-for-at-least-44-months-over-continental-coal-citation-resources-crimes-c-12832326
Former top Perth lawyer and globe-trotting promoter Peter Landau has been sentenced to potentially more than five years in jail for a $2.2 million spree of thefts and cover-ups.
The WA Supreme Court judge said offences of the kinds Landau had admitted committing between 2015 and 2016 had the potential to undermine confidence in Australia’s financial markets.
“You stole from a company of which you were a director,” Justice McGrath said. “Anyone considering such acts must know the consequences.”
The judge made the comments ahead of imposing a head sentence of five years and two months on five WA stealing offences and one count of forging a bank statement.
Https://www.bioenergy-news.com/wp-content/uploads/2021/09/David-Palumbo-CEO-EQTEC-plc-768x649.jpg
A face to be trusted????
Thank you Looed - as always succinct and well explained.
Very many thanks to you.
Thank you for taking time to reply @Looed. Down to 5 cases then, 1 of which will be “extinguished”, so really only 4 to worry about.
Worrying that FIC v SN AND FRCC bankruptcy are not scheduled for almost a year, but given the GOGC involvement maybe we can hope of an early settlement, 9 months to go there though.
YA II v FRC – no end date
FRC v YA II – No action since the Original Petition; again open ended and no end date in sight.
Hopefully FRR's plan to draw everything to a close is genuine, they have 9 months it seems. Lets see how genuine they are.
How many cases remain unresolved?
"Website updates are effectively useless at this point, lost all trust in them."
Indeed - seems the site is down yet again. The cloudtag website spends more time offline than on, a good indication of poor management. Most websites have CMS so there is no excuse for it to go down so often, unless its on a cheap server...
"t’s all about getting in at the right time and getting out on the spike. I’m fortunate and I hope my story gives a sense of optimism.
I bought this is 1.1p and watched £50k drop to £6k losing 90% value in 12 months but held out and bought more pls don’t ask me why.I just had a feeling and Trump helped the green revolution with stocks rocketing an i was holding over tens of million of shares plus from 0.0.8p it went to 3.3p by 2021 within afew months.
Existing at £360k in March 2021 at an average of 2.8p and buying 88e for a 1000% increase in April. It was a redit hype stock.
Always have an exit in mind and excute it. Don’t be the one carry a s£&t story around leave it to someone else.
Wishing you all well and hoping this swings but I can’t see why It would begin this only rose on hype and nothing else along with the whole sector.
This is AIM not investing. Don’t confuse the two. But on hype sell on the spike."
Of course you did yet since you joined in 2015 you conveniently forgot to tell anyone. Throughout the whole of 2021 this share never went above 2.7p Go away singh and stop gloating. Pathetic.
1984Investor: "I only “lost” 23k, which is about a months earnings for me, I can easily afford it."
So you earn circa £500k per annum and feel the need to invest a months salary here?
Dulwich - given the spelling in that last missive, it seems you drank the port beforehand!