The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Puds,
A few years ago I test drove a 2nd hand Bentley. About an 1988 model, a Turbo R, I think. The pile on the carpet was so high I had my knees under my chin! Scary fuel consumption as well - was doing about 3mpg on a dual carriageway.
Didn’t go for it. But once this is sorted. We can form an orderly queue at Jack Barclays - and then take the down the Riviera.
Bezzy
Lol. Just messing!
Is there an echo in here?
tsbs,
Maybe there is an NDA in place as if there is a super major in play, that would be an RNSable event for them - and presumably they're not ready to announce yet.
I think the GG are being very vociferous at the moment so when a deal is done, they can say they pushed it over the line and they're heros.
Total guesswork on my part, as usual.....
Bezzy
Hi,
High,
Bezzy
Denzal (8:49) - I think that's Georgia in the US mate
tsbs,
Glad to be part of the crew. Don't mind going to Moldova as long as my pockets are rammed with cash!
Bezzy
I WANNA GET OFF!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Puds, LOL!!!
Thanks Gazza,
I get it now. Appreciated.
Bezzy
Hi Gazza,
Thanks for the link. I'm not sure I follow why you think they're already in manufacture. Please can you explain? Apologies if it's obvious to others.
Thx,
Bezzy
So you're still on the fence, FerrariCollector?
Lol
Hi Arsenal,
I think our posts just crossed.
Yes, it is January but that's really not long ago in the grand scheme of things. They've clearly not turned their back on it yet.
Bezzy
Arsenal,
If it works for everyone else, this is the letter we've been referring to (1.5 pages)
Bezzy
Yes it seems to! Here's page 2:
https://scontent-lht6-1.xx.fbcdn.net/v/t1.0-9/95514146_10221448675461591_6780281612530614272_o.jpg?_nc_cat=100&_nc_sid=ca434c&_nc_ohc=StYLNCthpnwAX__jvMG&_nc_ht=scontent-lht6-1.xx&oh=69ef982867653247c6ce902fe55554d2&oe=5ECFD4E0
2nd & last bit:
In 1997, on the basis of an agreement with JSC Gruzneft and the Ministry of Energy of Georgia, Frontera received a 25-year license to search and produce oil and gas in the east of the country on license block XII, whose area is 5.55 thousand square meters. km The total initial oil resources of the block, which includes the Mirzaani, Taribana, Nazarlebi, Patara Shiraki, Baida and Mtsare Heavy fields, are estimated at 600 million tons.
However, all these years, according to authorities, Frontera accounted for scanty production volumes, despite the company’s announcement about the discovery of large oil and natural gas resources in the licensed territory. She never presented the work plan and the necessary documentation, although this is provided for by the license agreement and regulations.
So, in 2016, Frontera Resources announced the discovery in South Kakheti of natural gas reserves in the amount of more than 5 trillion cubic meters. A number of experts and government officials noted that the company, for the sake of profit, is likely to mislead the country's leadership.
Frontera Resources Corp. Founded in 1996, it has headquarters in Houston (Texas). It conducts exploration, development and production of oil and gas mainly in Latin America and the Black Sea basin.
It says:
Frontera Resources accuses Georgian authorities of misrepresenting arbitration dispute results
04/30/2020 NewsTbilisi Economy
Frontera Resources, an American oil and gas exploration and production company, has accused the Georgian government of disseminating false information about the results of an arbitration dispute over a claim for non-fulfillment of contractual obligations by the company.
“Last week, we learned that the Georgian government and the lawyers hired by it deliberately made incorrect public statements about the results of the arbitration dispute that was launched in 2018 against our company,” the statement released by Frontera on Wednesday said.
“These statements and false news were purposefully directed against our company, its work in Georgia for 24 years and investments related to this work, which exceed $ 500 million,” the company said.
The company calls on the Georgian authorities to stop the fake and unfriendly public relations campaign against Frontera and other American enterprises operating in Georgia.
At the same time, the statement does not indicate what specifically, in the opinion of the company, consists of “falsity” of the statements of the authorities.
The statement said that the company is pleased with the arbitration decision and will continue to work actively on its license block in Kakheti.
“Now that the trial has ended, we hope to move on to a more constructive relationship (with the government - IF). (...) We believe that the government will continue to work closely with Frontera and other similar companies to return foreign direct investment to the country, ”the statement said.
Commenting on this statement from Frontera, the Georgian Oil and Gas Corporation (GOGC) said that they are asking the company for permission to publish a decision of international arbitration, since without it the corporation cannot unilaterally publish this decision.
Last week, GOGC and the State Oil and Gas Agency of Georgia (SAOG) announced that they had won a lawsuit in a lawsuit on non-fulfillment of contractual obligations by Frontera Resources Georgia Corporation and Frontera USA.
“The arbitration tribunal supported the interpretation of the contract by GOGC and SAOG and satisfied the vast majority of their claims,” the corporation said.
The report said that on April 17, 2020, the international tribunal made a final decision on the claim of the Georgian side in connection with the repeated violation by the American company of the agreement of June 25, 1997 on the shared distribution of products.
It was noted that GOGC and SAOG are discussing further steps to enforce the arbitral award and exercise the rights stipulated by the contract.
In 1997, on the basis of an agreement with JSC Gruzneft and the Ministry of Energy of Georgia, Frontera received a 25-year license to search and produce oil and gas in the east of the country on license block XII, whose area is 5.55 thousand squ
It is the same letter I posted a link to earlier under a separate thread (the US one in the last hour). I've tried to copy the ext but it won't let me (or I'm just useless at this stuff)