erazzel,
Not swayed at all by the scum. I will have to go back and re-research for additional snippets. I am standing firm (not least because we have little choice). However, I would not sell on the grey market if I could. Do or die for me on this one.
GLA LTHs
erazzel,
I am very impressed with your verve shown today. Have you found anything additional we should be aware of at this time? Or just had enough of the little one's drivel? Or both?
Glass half full over here. Appreciating your style.
Bezzy
Shed lol!
What adverts? Just use an Ad Blocker
Well said regdik,
I am of a similar view.
ATB everyone
Morning WHamBoy,
I'd also add the Tim Thomson news as further evidence of the "indirect communication/signs of life" referred to below. Despite Tim's assertions, I don't believe updated their website to add his new details for the fun of it.
All IMO of course....
i.e. 13:41 post extract as follows:
In accordance with the Law of Georgia on Public Registry, a decision was made to satisfy the request.
The decision shall enter into force upon publication.
The decision may be appealed in court within 30 calendar days of its publication.
ThomBola,
It may also have been ring-fenced for JV purposes.
tend!
I'd tnd to agree Arsenal
Arsenal,
Looks like decision was made 11th June. With a 30 day term to appeal from publication.
Was she OK about it?
It's happening on all the boards. Remarkable really given the LSE BB is usually so reliable(!).
I've taken to copying my post before I send it, so if it screws up I can paste it back in and re-submit. Saves a lot of typing and replacing computer screens.....
correction:
....or the asset remains somewhere in the group.
I can understand the asset being moved into an empty shell. Question is, is the shell a subsidiary in our group of companies (that we're invested in) or not? I don't recall the name but it almost appears to be a typo - very strange! Anyone recall seeing it in a list of subsidiaries before?
I have tried to look on a Georgian version of Companies House but I cannot find one. Company could be registered anywhere though, I guess.
For me, I would have thought if the asset was transferred out of the group, it would have had to be for fair consideration (i.e. sold for cash etc). If it was in a subsidiary of the TopCo we are invested in, the proceeds from any transfer should still be within the TopCo - or the asset itself still remains in TopCo.
All IMO.
gourock,
Where is the source of your rumour, please?
http://cecexhibitions.com/gioge-exhibition-conference/
Key part is this:
“Georgia has of its own oil and gas reserves both offshore and onshore and the hydro-power potential to be a regional exporter of energy. Total Georgian oil reserves are estimated at 580 million tonnes, including 200 million tonnes in offshore fields. The development of Georgia’s indigenous energy resources and production is vital. The IFI’s are working closely with Georgia in the energy sector to rehabilitate existing capabilities (thermal and hydro) and to restructure the national energy concern “Sakenenergo”. Five major western Oil & Gas extraction companies are working alongside the Georgians to achieve this aim. Two British companies are taking lead in developing and extracting local oil and gas in Georgia: JKX Oil & Gas and Ramco Energy. Air BP, which is a branch company of BP Oil, signed a contract that envisages the installation of a new aircraft re-fuelling facility at Tbilisi international airport. Frontera Resources Corporation has invested around $30 million in the past two years to explore six deposits, the first of which, the Taribani field came on stream in March 2000. Drilling of the next three wells at Taribani is likely to require additional investment of US$70-80 million. Frontera also plans to start drilling at the neighbouring Mirzaani and patara Shiraki fields.
Lasmo and Shell Capital (UK) are also involved in developing Taribani field. They have already invested 7$ million and planning to invest another 20$ miillion more.
Anadarko petroleum plans to spend 1$-$2 million on seismic in the Georgian waters of the Black sea after it farmed-in to the 8,900 sq km West Georgian Offshore PSC. The Greek State Oil Company has also recently held negotiations with the Georgian government to develop the Norio site near Tbilisi. The EU plans to assist Georgia in the formation and development of its gas sector and supports its participation in regional transportation and energy projects.”
Per my last post, note the description given to Frontera:
“Frontera Resources Corporation – Georgian Branch - Oil and Gas International Company Representation”
Which is quite different to BP’s description (they’re also, coincidentally, on the list):
“BP Group – Energy transportation and Fuel supply”
Why aren’t we described as exploration/production etc? Why “representation”? Are we representing someone else......?
Not sure if this has been seen before (given date - 2018), however it’s interesting to see little Frontera on the list......
https://forbes.ge/news/4709/Georgia-s-top-10-Investor-Companies-