Member Info for Dulwichman

Mr Mole
Given your last Para RE the FCA , and I accept we all may not be there yet but things are looking that there MAY be an issues with a failure with shall I say for the moment at least an issue over due diligence of the FCA. Are you suggesting that it may be worth putting together a group action of some sort against them?

I think like a number of people I am to say the least confused.
In the simplest of terms and purely from a commercial point of view (although I still feel there is more to this than just commercial) There are a large number of court cases in various countries taking place. Some are stand alone ,some in a convoluted way are related. This is costing money which if I may say everybody thinks we do not have the money for.

I add that I think that there is a general consensus that we can safely say from what we know there is no money in the bank and there is very little likelihood of commercial loans etc to pay for either. So we can pay for the lawyers, further exploration or related matters.
For give me for being stupid but winning pyrrhic victories when the only source of money must be private back pocket is either
A) a Rich mans plaything driven by ego perhaps? well it does happen but it is rare
B) Driven by blind belief that data is either wrong and I know best (whatever small amounts have been produced it has not been declared commercial)

The above is either what we know or there is a consensus of information sourced by our wonderful super sleuths, and some very knowledgable people on this board who have been around the block within the Industry.

This can only lead me to believe that there is lot of information that we are not privileged to and that it has some real commercial value even if we do not get a few pennies from it.,Otherwise why has the Company just not packed it in and move on if it can?

Have I miss understood the last few years? as it does not make cense to me.

Answers on a post card to here please if you can find one ounce as to why the fight continues?

Hi Mr Mole. Hope you still get a chance to sample the water of life meetings which are perhaps a little more important and real than the musings on here as fear all is lost, however given your comment which in principle I agree with there is a very slim chance of a way out. It all depends on how high up the food chain the control of any hydro carbons in Georgia actually is from Uncle Sams point of view.
Firstly I am not suggesting that FRR is a CIA front which was suggested a couple of years ago by somebody
Nor am i suggesting that there is a particular reason that FRR is any special in Uncle Sams views other than it is the present tool in play- All that matters in my view from Uncle Sams point of view COULD be not who holds the rights to to what ever is or is not there but make sure that rights are not held by unhelpful powers ie Russia or China. This is very much big picture stuff. This may sound like a cold war novel but it does still happen if it is deemed important enough. Sadly I would think that all Uncle Sam needs is denying the asset from others - nothing to do with production If ther was any desire for production then it would have happened by now and add in that the EU seems not to be taking any notice over Nordstrean 2 only adds in that production is not important to Uncle Sam.
In an absolute long shot that this is anywhere near a part of the story all these court cases unspeakable Directors actions just add in to denying the asset. In this scenario any delays are the equivalent to any denying and anything involving a court is as Shakespeare said "The wheels of the law turn very slowly" that may be helpful to Uncle Sams policy.

Some very well meaning posters may well think this is very far fetched indeed I am doubtful my self but the history of oil in the Middle east may shine a light a brief known history follws. The UK was very concerned over the actions of people like Rockerfeller and his like were gaining great sway in the middle east and were able to act like Imperialists and it was thought Uncle Sam wanted an Empire and the UK would miss out . Oil was key future commodity and we had none yet the Royal Navy had begun to move away from coal and onto Oil. The RN would loose the technological position of Ruling the Waves Rule Britannia and all that. Churchill realised this and created the UKs first wholly owned Commercial Company to in effect take on Uncle Sam but simply did not have the dosh so they had to revert to game playing and dirty tricks by the standards of the day. The result is what we now call BP. All I would say is that substitute gas for oil.

A very long shot

Whilst we are a little upset with what appears to have taking place I just wonder if a lot of heart ache over a long long period could have been avoided. We have never been informed as to why the Nomad walked out. I have no doubt what the Nomad did was 100% legally correct but we have never been told why. We are all aware of the risks involved with the AIM market but in general the types of actions we are finally discovering are not as devious as it appears to be in most AIM Companies (and in any case much has happened after the Nomad left) So just what was the reason the Nomad left? I would doubt it would just on a whim. I also presume that The Nomad is not under any obligation to explain there reasons, unless of course they presumed criminal activity all that time ago in which case it should have been reported to the relevant Authorities perhaps even to the the Police so I am guessing it was not a criminal Act so Again just what was it?
This is all water under the bridge now but it does bug me the lack of transparency whilst we were still listed Perhaps the madness of our situation should be placed before the Authorities for a review of the rules /system ? we do have one advantage that being we do have a list of quite a lot of shareholders and I suspect the expertise to put a cohesive case together for both the Authorities and perhaps our MP's

What do people think ? I certainly do not have the expertise to put a case together but I see this as principle gone wrong and would like to think that our loss may be able to help protect others. After all Nomads are supposed to be trustworthy people they don't just walkout.

Freds old Land rover would have pulled it out ( no electronics etc and a tap from a big hammer)

With HMG opening up the north sea to bids again (i presume they need the tax income) I wonder hoe the Bp's etc will react? I ask because they do see to be pulling away from exploration. It of course mare also be related to nordstream being under attack from Uncle Sam and the UK wants gas security separate from the EU. If say BP do bid it at least it shows they have some interest in exploration/production in new O&G which may mean they are still interested in Georgia and therefore us. mind you BP is in transition and I really do not have clue about them any more

I have always found in this day and age that important communications are better sent by good old fashioned letter. It is outside the norm so it has to by pass Company systems and normally lands on a senior persons desk (I always send to the chairman). This has worked many times when communications via email etc do not seem to work. Just my four pennyworth (4p would do me me fine)

Am I right in thinking that because we are no longer a listed Company the "Concert party"rules no longer apply? This could be important if we ever want to act as a cohort of share holders? one for the legal beavers I think

The idea of running down the insurance based upon a fake law suit does not run with me, I think it would have to have a reasonable chance of success ie +50% or more for the insurance company to agree to pay

Arsenal. You may not be far off the mark (one lives in hope anyway of something) I would remind people that if this Company is able to get back on its feet so to speak Zaza whilst we were still on AIM did say that "On Brokers advice -share consolidation would only be wise when the share value was about 2p a share" - given that the Nomad was present as I was and I certainly did not see the Nomad wince I would go with the that view also as it seems a pretty normal view held in the City for consolidation. Of course that was when we were a quoted Company.
As a private Company now with all other things being equal etc etc could it be that one of the aims of the Company to be a return to market with the shares consolidated at around the 2p entry level which would be a easier process. Of course getting there means there is sufficient recoverable O&G to make a long term profitable Company. To get there some real progress has to be made in a lot of areas- Legal, getting the share register in good shape ( I expect that is a bit of mess) et al. If perchance I am right then it will be a bit of a journey in terms of time but it looks like that journey may have already started but not helped buy present day lockdowns etc.
Hope I am right for if so I will not be interested a quick sale upon return to market just to recover my investment for despite the issues with Zaza (good or bad we do not know)he did make sense at the public meetings over the then future which was to go it alone on the oil and one way or another the gas would be dealt with by others, If this is a viable Company in all senses then it is still a valid way forward and we are all in good position .it will be the new share holders that will have to pay more for shares/financial tools as with a good wind the Company will be highly investable for those with a liking for risk.

Just my thoughts for if the court stuff and other matters can be dealt with one way or another then putting the Company back in shape would not cost a vast amount given some (and it needs more) of the changes taking place

Informed by my Stockbroker

Informed today that the Company has been dissolved

I look in once in a while still but in truth had written this off but livid in some wild hope we still had a future. Like some i did meet Dustin but not being an expert could not really make any comment about him other than he seemed very ambitious (nothing wrong with that) however it must be remembered that he is a techie man and I am guessing that to get the results that he did he may have been a bit of risk taker but willing to be corrected. My own thought is that what is left of the Companies was rather lacking in technical expertise in a position of power/responsibility from any bank or who ever to convince that any monies invested had a chance of a return. Having Dustin back is in my view a confidence booster with a tick up as he already knows the on the ground details and has a track record. Of course there are are still many hurdles to jump ( what's new) but this is a good start to the restructuring.

As a side issue I have noticed that BP have now got their Gas interconector fully up and running but I would guess at still a low volume the gas is of course will be a long time off and will need others to do but I have noticed that the new way of using any gas is as the power source for any new drilling etc if this Company can get to this stage and the oil works it all helps ( see president energy) this is new and innovative and is certainly Dustin's style in my view. Just a tuppence when all looked over. Certainly something positive is happening.
Good to see the board up and running and a few of the old bad of brothers posting. You never know we could have even more to digest in the near future

Keep well and safe to all

still here ,just twiddling my thumbs on just about everything

Whilst I fully accept the race to find a vaccine, I can only presume that many of the scientific staff have been pulled off on going projects etc, I wonder just how much has now been put on hold? As a company it always has to be looking to the future with either new or improved products to keep in the race and I presume all the other companies involved in the vaccine are in the same boat - any thoughts

Sadly a vessel the size of an aircraft carrier in the black sea would break the international agreements in place. from memory the limit on navel vessels is 20,000 tons. If one were to enter ( the RN did just a few weeks ago but only for 24 hours and it caused a formal complaint so perhaps testing the waters) it would stir things up a lot perhaps from Turkey which is flexing its muscles at present and also playing the west against the east somewhat at present. the area as a whole is not in the best of shape and volatile and the west in spending a lot of money on soft power has rather forgotten that you still have to have credible hard power. Binden may change this and it would certainly help if the EU had any sort of strategic policy with regards to security / intelligence etc but getting the 27 to agree on such matters is almost impossible and the USA will take time to build up it hard power again.

Remember that the advice we had had was that share consolidation would have to result in a share price of about 2-3 pence per share - Brokers advice. I can only assume that it was the intention to both get off the AIM market onto the main as advice had already been sort. well perhaps this could be achieved! but by a route not envisaged at the time and a lot going on in between!!! I live in hope but God knows how

Isn't that the way they last updated the web site last time which caused a panic?

Hi Pryo and good to view your comments. I would love to uptick anybody who makes a statement of any sort of positive outcome but things are so complicated in trying to build a correct picture I am not connived anybody can make a forward looking judgment ( good or bad) I really do think anything could happen even a white knight all the way trough to the towel being thrown in, there really are very few up to date facts which make any sense to me now as after all we should have been dead in the water some time ago but we seem not to be and God knows how? All I can see at present is that i can work out a ton of reasons for Uncle Sam to be pulling strings some of which are really nothing to do with us directly we are just a vehicle. My only real guess is that I am not convinced that we will be dumped after the elections as a few Senators have put their neck on the line during a sensitive period back in the old US of A -may be they will dump us after a failed court case? it really is all guess work now in my view. that is not to say that any of the permutations good or bad on this forum are either well thought out or devil making. I am simply taking the view we are unlikely to hear anything real until either the shop closes up or we live to fight another day in a better position financially than we are now. Radio silence will remain until such time for reasons I can only guess.
It is sad in many ways apart from our hard earned in so far Georgia does need an economic boost as it is try to bring itself into modern world with a lot of bumps along the way.
As to your reference to our little bad of brothers well we certainly put a lot of work into this forum over the years and thankful all poke our noses in once in while. Take care to all

Whilst a small number of us a long time ago had thoughts that something was never quite what it seems with this Company with comments running from a" CIA front" to the OIl and Gas Industry always had had a great deal to do with geo politics ( I tend towards the latter) as a Company and I have always held the view that Zaza has politicle ambitions personally at some stage in his life. It is not beyond the realms of possibility that Uncle Sam does more than a passing interest in what is going on that is directly to do with us. I accept publicly that the EU has real concerns over reliance on energy supplies but really does not have much of a capability to shall say "Interfere", In any case it is only really the UK and possibly France who have any real experience in this area and whilst the UK still has acess to the North sea where there is still plenty of O&G but needs a lot of further investment and this would be against the EU intentions?policy etc ( The recent years have not been the right time for the UK to stretch its independent muscles until all Brexit matters are resolved and we regain full control of our Foreign policy - and I hope we do develop our own policies again we happen to be rather good at it and certainly energy supply will a part of this but that is for the future) It seems to me that with Uncle Sam learning the positive effects of soft power, I ask my self "Is it in the interest of Uncle Sam for the EU and indeed the whole of Europe to be reliant on an increasingly stronger Russia which is prepaid to us this as bargaining with Europe? I would say it is not as Uncle Sam does not want Europe or the EU to fail on the basis of a gas tap? it would certainly have an negative effect on the USA economy. So it is in the interest of the USA to " help Europe/EU have easy gas that is reliable and stable. That is my Political argument in favour of of why Uncle Sam is so involved with the Oil and gas fields in both Georgia and any other surrounding countries. they need politicly West leaning counties who need a lot of inward investment to help that the ever increasing influence of Mr Putin and It is helpful in USA-EU Europe relations especially as the EU is virtually incapable of doing anything for itself in this area. So this is tick box one and is the main priority.
It would seem to me that it would also be helpful at the lower end of the scale that the USA would prefer if any such investments were under the influence of uncle Sam and may even give some sort of financial return ( even the USA have bean counters) I ask my self given that I have no idea as to why we are still alive could we be that vehicle? If so we have a high chance of survival and perhaps more as long as the O&G is real. Well call it a game of fantasy investment -on that basis it does seem to fit Oh Just add in the possibility of a very friendly politicle person heading up our Company who in my view want to be the top dog at some time.
All fantasy? well may be or ?