Member Info for Chris572

Who in the right mind would award FRR the tender? also you need a minimum of 5 year experience. I think it would be a stretch to call FRR experienced.

I felt we had a chance as we had no word from the company, gg or gogc so maybe a deal was being worked, but now that our block is up for tender I don’t see any return for FRR. Why would a major do a deal with FRR if they can pick up the block for potentially cheaper in a few months? The only rational I can think of is the data and cost recovery pool, but with block 12 up for tender it’s not unreasonable to assume we have no renewed PSA and the block is not longer with FRR. Looed has advised the FRR are no longer in Georgia. Anyone got an angle as to why we might see a return other than blind faith and dilusion?

Looed, I hope your contact has the courtesy to let you know if its all over.

Thanks looked. I think the writing is on the wall with this one. Sounds like closure won’t be too far away.

Dated 4/11/2024

An international tender was announced for obtaining a general license for the use of oil and gas resources.

The State Oil and Gas Agency of the Ministry of

Economy has announced a tender for the 12th block located in Dedoplistskaro. Acceptance of proposals will end on January 27, and the winning company will be announced on the same day.

According to the agency, from November 11, companies can apply in writing on the conditions under which they will issue a license for this block. In the information released by the State Oil and Gas Agency, it is only written that those who wish to participate in the tender must have at least 5 years of experience in oil and gas exploration.

It is worth noting that the license for the 12th block was owned by the American company "Frontera", with which the state terminated the contract in 2020 and would no longer have the right to carry out oil and gas operations in the contract area.

https://bm.ge/news/mtavroba-kakhetshi-navtobisa-da-gazis-mopovebistvis-investors-edzebs

4th Nov 2024…… no mention of Frontera liquidation

https://www.gov.ky/content/published/api/v1.1/assets/CONTBF4E18E4201F44D6B71510995BF3B142/native/Ga232024.pdf?channelToken=c915417e96ad49e2bcda2e4d22158c40

At the same time, on October 18, 2024, the Ministry of the Environment published an announcement in the Official Gazette urging Frontera Resources International LLC "to approach" the institution's headquarters to receive the notification dated May 3, 2024, "issued in order to remove the admitted violations and the effective execution of the Concessionaire's obligations".

"Otherwise, the public authority will initiate the process of withdrawing the right to the deposit," the announcement states. This notice was originally sent to Frontera's headquarters in the US, but there was no response from the company.

We attempted to contact Frontera Resources International representatives. Lawyer Igor Odobescu, Managing Partner at ACI Partners Law Office, who assisted Frontera Resources in establishing companies in the Republic of Moldova (two companies) and offered consultations "on certain aspects related to the legal regime of natural deposits", says that " he hasn't communicated with them for more than five years

https://stiri.md/article/economic/cautarea-gazului-si-petrolului-moldovenesc-in-circa-opt-ani-nu-s-a-facut-nimic/

The silence is deafening…..

Bid deadline is 5th November. Something to keep an eye on

The State of Georgia represented by the LEPL State Agency of Oil and Gas of the Ministry of Economy and Sustainable Development of Georgia on August 1st of 2024 announced an Open International Tender to obtain the License for the Use of Oil and Gas Resources on free license Blocks VIIB, X and XIWN-M.

https://www.mcci.gr/wp-content/uploads/2024/08/%CE%94%CE%B9%CE%B5%CE%B8%CE%BD%CE%AE%CF%82-%CE%B4%CE%B9%CE%B1%CE%B3%CF%89%CE%BD%CE%B9%CF%83%CE%BC%CF%8C%CF%82-%CE%B3%CE%B9%CE%B1-%CE%AC%CE%B4%CE%B5%CE%B9%CE%B5%CF%82-%CF%87%CF%81%CE%AE%CF%83%CE%B7%CF%82-%CF%80%CE%B5%CF%84%CF%81%CE%B5%CE%BB%CE%B1%CE%AF%CE%BF%CF%85-%CE%BA%CE%B1%CE%B9-%CF%86%CF%85%CF%83%CE%B9%CE%BA%CE%BF%CF%8D-%CE%B1%CE%B5%CF%81%CE%AF%CE%BF%CF%85_%CE%91%CE%BD%CE%B1%CE%BA%CE%BF%CE%AF%CE%BD%CF%89%CF%83%CE%B7%CE%95n.pdf

Bid deadline is 5th November. Something to keep an eye on

The State of Georgia represented by the LEPL State Agency of Oil and Gas of the Ministry of Economy and Sustainable Development of Georgia on August 1st of 2024 announced an Open International Tender to obtain the License for the Use of Oil and Gas Resources on free license Blocks VIIB, X and XIWN-M.

https://www.mcci.gr/wp-content/uploads/2024/08/%CE%94%CE%B9%CE%B5%CE%B8%CE%BD%CE%AE%CF%82-%CE%B4%CE%B9%CE%B1%CE%B3%CF%89%CE%BD%CE%B9%CF%83%CE%BC%CF%8C%CF%82-%CE%B3%CE%B9%CE%B1-%CE%AC%CE%B4%CE%B5%CE%B9%CE%B5%CF%82-%CF%87%CF%81%CE%AE%CF%83%CE%B7%CF%82-%CF%80%CE%B5%CF%84%CF%81%CE%B5%CE%BB%CE%B1%CE%AF%CE%BF%CF%85-%CE%BA%CE%B1%CE%B9-%CF%86%CF%85%CF%83%CE%B9%CE%BA%CE%BF%CF%8D-%CE%B1%CE%B5%CF%81%CE%AF%CE%BF%CF%85_%CE%91%CE%BD%CE%B1%CE%BA%CE%BF%CE%AF%CE%BD%CF%89%CF%83%CE%B7%CE%95n.pdf

Majors signing deals to explore and develop 4TCF's offshore.... come on Steve, let the cat out the bag.

In a third announcement, SOCAR and BP, alongside other international partners including MOL, INPEX, Equinor, ExxonMobil, TPAO, ITOCHU, and ONGC Videsh, also signed a new addendum to the production sharing agreement (PSA) for the Azeri-Chirag-Gunashli (ACG) fields in the Caspian Sea. The agreement focuses on the exploration and development of ACG’s significant free gas reserves, which are estimated to be as much as 4 trillion cubic feet.

You would like to think Georgia is the obvious next step, given the potential and infrastructure already in place. Unfortunately its been a while since I widened my sleuthing scope, as new information like this inst important unless we have a company...... an update of some sorts must be due soon.... please.

https://www.bp.com/en_az/azerbaijan/home/news/press-releases/SOCAR-and-bp-to-cooperate-on-new-energy-development-opportunities-globally.html

Sorry all!! ignore my post. My setting had been changed to hide nill balances.

Morning all, my FRR shares have disappeared from my II account this morning. Anyone else the same?

Encouraging Looed, I am sure you are very limited in what you can divulge but do you get the impression that we will hear someone before Christmas or is the can kicked well into 2025/26

Keep an eye out for any updates. Would we even hear the outcome of this case?

*Looed -Autocorrect!!

As you have already mentioned Looped, a bit of movement in September. 12 days until the below

'Frontera Resources Caucasus Corp. and David Griffi -OSC why case should not be closed'

https://www.nysb.uscourts.gov/calendars/mew.html

I appreciate you keeping track of this stuff lifeishard but we have heard the same noise coming out of Georgia for over 15years…yet to see any meaningful change or positive impact to FRR. Death by a thousand cuts

You can laugh Njames but 202tcf was absolutely the figure that the company quoted for the gas across the entire asset, but from memory, there was a letter from Frontera that stated that the recoverable reserves was closer to 30,000,000,000,000 ft.³, who know what we actually have. Onshore, low carpex, route to market…. We had (have) it all. This is why FRR investors backed the company. It was a black swan in the making. ….. we were waiting for our cairn energy style rise (for anyone who remembers that)