Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Thanks for posting looped. Great news
https://business-partner.ge/biznesi/sakartvelos-navtobis-sektorshi-shesadzloa-frontera-dabrundes
Continued
According to the government's decision, the contract with "Frontera" was not canceled and it was given the opportunity to continue its activities in the part of the initial contract territory, where oil extraction was still taking place since the Soviet period.
It is about 1% of the exploration territory of the state, because about 99% of this territory has already been returned to the state by "Frontera" according to the arbitration decision.
"Frontera" may return to the oil sector of Georgia
Business 28/01/2023
The State Oil and Gas Agency may announce an updated tender for the "Frontera" block.
As the chairman of the agency, Giorgi Tatishvili, told "Business Partner", "Frontera" returned 99% of the license block according to the international arbitration order. It has the remaining 1%, where the oil and gas corporation operates.
"The manager company of Frontera itself is in liquidation mode." Rather than the process of liquidation, if the economic situation does not deteriorate and the oil is not spilled, this oil will be brought to the state in its entirety. However, at the same time, we are talking to the American management of "Frontera", who wants to continue the work here, but with the reservation that the conditions set by the arbitration will be fulfilled, because they have money to pay. So there is a possibility that "Frontera" will return. If this does not happen, the state will continue to work there," says Giorgi Tatishvili.
According to him, formally, the owner of the license is still "Frontera". We are talking about "Frontera" founded in the Cayman Islands.
"When the liquidator entered this company, they had no motivation to work in Georgia. We will work until this situation with the American management of "Frontera" is settled and they make a decision whether to return or not," says Giorgi Tatishvili.
We remind you that "Frontera" violated the contract of June 25, 1997 on the share distribution of products and the processing plant, which became the legal basis for terminating the contract. According to the decision issued by the arbitration tribunal, "Frontera" was ordered to return the exploration area (about 99 percent of the contracted territory) to the state and reimburse the costs incurred by the Georgian side in connection with the arbitration dispute (the total amount of payment obligations is about 6 million USD).
According to the 1997 contract, "Frontera" was supposed to carry out exploration work within 10 years in order to discover new commercial reserves of hydrocarbons and further exploit them. After this deadline passed without results, the company asked for an extension of the search term 2 more times, which was granted by the Georgian side. Accordingly, the total period of search has increased by 20 years. As a result of a 20-year fruitless search, in 2017 "Frontera" again asked for an extension of the search term for an additional 5 years and refused to return the search area. This was the basis for the request of the Corporation and the Agency to initiate an arbitration dispute at the Permanent Court of Arbitration in The Hague.
Finally, the government of Georgia made a decision to terminate the contract with "Frontera", which was explained in order to preserve the investment environment and taking into account the strategic partnership with the USA.
George Chikovani meets Rovshan Najaf, President of SOCAR
29 November, 2022
Development of gas transportation and storage infrastructure and expansion of cooperation were the main topics of the meeting held between George Chikovani, General Director of GOGC and Rovshan Najaf, President of State Oil Company of Azerbaijan Republic (SOCAR) in Baku.
The goal of the meeting was to strengthen the close partner relations with the state companies of the two countries and plan the future steps. Prospects, needs of the current projects and ways of meeting these needs were discussed at the meeting.
Particular attention was paid to strategic partnership between Azerbaijan and Georgia in the energy sector which is developing successfully. Significance of joint large-scale energy and transport projects and enhancement of the role of Georgia in increasing the Caspian oil and gas transit and energy security were emphasized.
The issues to be discussed included projects envisaging increase of Azerbaijani gas volumes in Europe.
"In terms of energy security of Georgia, the role of SOCAR and Azerbaijan Republic in general as a strategic partner is very high. Therefore, maintaining close contact and daily work with them are vital for prompt implementation of projects significant for our country, the region and Europe", - stated George Chikovani.
The delegation from Georgia consisted of representatives of GOGC, Georgian Gas Transportation Company and Ministry of Economy and Sustainable Development of Georgia. The meeting was also attended by Ambassador Extraordinary and Plenipotentiary of Georgia to the Republic of Azerbaijan, Zurab Pataradze.
https://www.gogc.ge/en/article/george-chikovani-meets-rovshan-najaf-president-of-socar-/570
Hi whamboy
I have checked in on our recently employed individual and been following posts they have liked. There is certainly things happening in Georgia. This is a post from two months ago that he liked
Once again, we have the opportunity to conduct geophysical survey in Georgia to identify the geological structure, recording 2D seismic data in the eastern part of this beautiful country, north of Tbilisi, in the Norio region.
The purpose of the work, commissioned by Georgia Oil & Gas Limited, is the acquisition of seismic data with a range of 225 km, using vibroseis as the source. Research works are carried out in upland agricultural and urbanized areas. Seismic data is obtained with the use of autonomous Quantum nodes. The project is scheduled to be completed in October 2022.
The company which posted the info above specialises in the following
We deliver innovative geophysical, geological and geotechnical solutions for energy sector.Our offer covers a broad spectrum of services focused on exploration and production’s intensification of hydrocarbon deposits, development of geothermal reservoirs as well as underground storages for natural gas.Our core activity covers: Seismic Data Acquisition Seismic Data Processing Seismic Data Interpretation Logging & Perforating Well Log Analysis We also provide solutions for ground geological prospection for industrial and technical infrastructure on land and at sea
I wish but no. I remember these from years ago
Wish I could say the same for II but still showing as 0
I would bet almost 0 chance. It’s bang or bust with this one. I think the only way management could stop a mass exodus upon any market relist would be to pay a special dividend of some kind.
Other than that it’s a buyout or bust if you ask me.
I would personally to take the 280m figure with a pinch of salt. Frontera can’t realistically ask for this right? We all remember the $3bill they wanted to sue the GG for. Good to see things moving and hopefully we are a bit closer find out more
Tarlev: "Moldova could produce its own gas" 12 Sep. 18:15 Economy 1398 Moldova could produce its own oil and gas, but it must deal with this in the most serious way and substantial investments are needed. This opinion was expressed by the former Prime Minister of Moldova, Vasile Tarlev, in the program "Mechanism of action with Elena Levi?kaia-Pahomova" from the NTV-Moldova television channel, Noi.md reports. He mentioned that earlier in the south Gas was found in Moldova, but the wells were preserved, and the company that won the competition for gas exploration and production in Moldova in the 90s has done nothing since. "There is gas in Moldova. It's just that a master is needed and investments are needed. As experts have stated, at a depth of 650 meters there are large deposits of oil and gas. Above the ground is the barbed wire that divides the countries, the territories , and underground everything is interconnected. And if it is extracted in Romania, across the Prut, then why couldn't it be extracted in Moldova as well? Underground there is a gas storage facility, where the gas passes both on the territory of Moldova, as well as on the territory of Romania. We just have to take care of this. The problem does not lie in Romania. The problem is that there are oil and gas reserves on the territory of the Republic of Moldova and we have to take care of this, we have to attract investors", said Vasile Tarlev. Frontera Resources signed a concession contract with Moldova. According to him, back in the early 60s, during the Soviet Union, wells were drilled in the area of ??southern Moldova, where oil and gas were found. But these wells were simply preserved, because oil and gas production was started in other regions of Russia and Azerbaijan, because there the extraction was cheaper. "There the hydrocarbons were more on the surface, not at such a depth as in Moldova - 650 meters. But now some countries extract oil and gas from a depth of 1000-1500 meters, therefore Moldova can solve this problem very easily ", emphasized the former prime minister.
Yeah it is, www.frontera-resources. Website is still up
Found this persons CV online but don’t want to give personal details away. Encouraging?
Chief Exploration Advisor, Eastern Europe at Frontera Resources Corporation
Frontera Resources Corporation
Nov 2021 - Present
Not one for the translator as it can be done on our own, providing I can get to a desktop computer
I have sent it to the FRR email address and flagged it as something they should read. I commented that shareholders have been a vital source of information in the past and that we are still trying to help. Might be something they are already aware of but definitely worth sharing. I’ll let you know if I get any reply
The link has Georgia words in it so I don’t know how to post the link ….
Hi guys, doing some more sleuthing and came across this letter. I am unable to translate it fully on my phone but I don’t recall seeing it before. I think it’s green capital lawyers reaching out to Kelly degnan and other officials etc but there is no date of when the letter was written but it mentions outcomes of court cases in 2021. Worth forwarding to the company if it’s zaza up to no good?
https://commersant.ge/img/pdf/????????-????-????????.pdf
https://commersant.ge/img/pdf/????????-????-????????.pdf
Link here
https://gnerc.org/files/Annual%20Reports/2021%20GEO.pdf