Member Info for Dulwichman

"Give me a year" Not trying to be difficult, but I do think that this is open to interpretation. My own view (and I was there to the public question) was rather wrapped around "the well being of the Company" In that that sense he has achieved as it looks like we are paying off debt to YA in cash ( it would to have this as an ongoing situation) and the extra funding is in place.

This may not seem like a lot to some people.

Thanks coggs. Always good to have a technical and experienced person posting on such matters.

Pyro

If it is anything like I am having to deal with professionally at the moment EVERYBODY is away with their bucket and spade and if it involves more than one decision making party then everything is on hold. Never seen it so bad perhaps there it is an age thing with not a lot of people with kids off there hands still working and the younger generation with kids taking leave.

Devon Not disagreeing with your theory/ thoughts as of course we are all in the dark but I do seem to remember that zaza stated at the last meeting that the arbitration was "a hammer to crack a nut" along with we do not have the detail. This would suggest to me that he did at least have an idea as to what it was about if not the detail.

From my point of view going by your theory the difference in the figures is perhaps worth a bit of a fight over from GOGC 's point of view . Have I got this out of proportion to fit into your theory? or is this just the normal game playing?

Just to confirm Zaza's background taken from a one to one conversation with him.
1) He originally did a medical degree
2) He began to make some money on shall we say small scale metal trading!
3) he then moved onto the bigger metal trading.
At no time did he intimate that he has made further use of his medical degree, It may well be the case but what do I know that he still has an interest in metal trading, Certainly I know one or two two mwtal traders down here in London that rather treat it as a part time job as they are chasing the deal. The is mainly in metals that are not traded on the LME. Could it be that he still does the odd deal here or there to keep himself afloat. All I care about is that he spends as much time as is needed on us., and certainly his skills in doing a deal will have been well developed from his metal trading deals but it does take time to get the right deal. Most of my mates spend more time trying to find mainly high value high rollers to invest than actually trading but of course they are not the big boys who are quoted companies.

I think that the bank of Georgia and the now implementation of the gas tanks etc is good background stuff and shows the clear direction of the Georgian government but as such does nothing for us at the moment. IF we can get both the oil and or the gas out of the ground at commercial flow rates then it is of some importance to us as if the bank keeps going as it is then it is a source of loans to develop the field at non punitive rates and also for-fills the Georgians Govs wish to be self sufficient in energy. we just need commercial results and am just as frustrated as anybody else as this is still very much an AIM gamble. If of course it is all positive then I think we can say goodby to YA and our medium term dept at punitive rates to bed as this will fall in with the now confirmed Gov'ts wish

Fully accept that what we are all waiting for is results but I am afraid to say that many things that make me sick and tired of particular subject DO have some relevance especially to us. As Ja has just pointed out even Total have pulled out due to geo political stuff. It is in some ways as important as getting the right choke size to get a constant flow.

Each to there own and what I don't know about I often learn from others. Just remember that how ever good the results are on the oil it is still not worth much if it can not be got to market in any quantity - even that depends on politics

Thanks Ja

I was thinking not only on the political side but apha mention the possibilities of new pipe lines ( Gas/Oil?) avoiding Russian territory. This to means a possibility of going trough Georgia - what to the tech experts think who know the wider area? All a long way off I know but if we do get into the gas/oil at some point in time where there is a need for pipelines it just may add some confidence. I know we have been offered access to the gas pipeline as built but alternatives may be better depending of the route.

Any views?

Taken from seeking alpha not my favorite view but

Leaders of five Caspian Sea countries - Russia, Kazakhstan, Iran, Azerbaijan and Turkmenistan - signed an agreement over the weekend that aims to settle a longstanding dispute over ownership of oil and gas reserves on the water.

Caspian reserves as of 2012 were estimated at 48B barrels of oil and 292T cf of natural gas, indicating that the deal could spark a surge in exploration and the construction of new pipelines in the area.

The Caspian sea holds Kazakhstan’s giant Kashagan oil field, the world’s most expensive oil project with costs of $50B-plus since 2000 - with shareholders including Exxon Mobil (NYSE:XOM), Royal Dutch Shell (RDS.A, RDS.B), Total (NYSE:TOT) and Eni (NYSE:E) - as well as Azerbaijan’s largest natural gas field, the BP-operated Shah Deniz gas field.

Is the fact that it is bucket and spade have any thing to do with matters. Certainly in terms of any Government decisions they just do not take place. Financial people - there will be a reduced staffing at least. Where it is a committee type function they will be reduced to a bare minmum- and the list goes on.
# Thoughts anybody?

What ! with my stammer you lot would have to wait until breakfast for a drink!

Coggs
Shouldn't you be concentrating on writing your second edition! ha ha

Hi Contra
On paper this will add more pressure to the Georgian Gov to be helpful to us BUT it should be remember that Trumps style is to go in hard on sanctions see what happens and then adapt. Remember that there is a time lag between his announcements- giving the executive order- and then implementations. The implementation may or may not take place on his last executive order signed a few days ago. This could allow Russia or perhaps even China to fill the void even at some financial cost to them as they both are trying to drag Turkey on there side. Turkey at present smiles to both the east and the west at present depending on who is being nice to them. Sadly The EU is yet again making a mess of things as by threatening sanctions back to trump and in truth it will not hurt the US economically as it is peanuts but more importantly it will suit Trumps ambitions to grow home grown products as the EU is basically inward looking. Trump and the Georgian Gov do care about the influence of Russia and china. Ways will be found to get energy to turkey via the open market in the short term as it will suit the USA and the west.in general but medium term, Iran will not be sorted out in the short term so" A" way in the medium term is to Push for an accelerated development of realistically near by O&G which would include us. But at the end of the day it depends on people like Dustin of the ground. and Zaza to make sure we have the money. Others have suggested and I agree that if our present flow rates are good and stable then the finance will fall into place without further dilution. remember Georgia already have inter Government money on the way for which there is a reason and commercial money will I am sure follow. Chasing the money is always a good idea.

All my own view I accept but for another reason I was present at a meeting at which Lord David Owen was speaking. He is very much still on the scene so to speak ( he was talking to the Canadian Pm about brexit two days before) He happens to live in Turkey and runs a metal trading business with Russia (similar to za za's past) He recons that Turkey wants to face more to the west but Russia gives then good deals perhaps this is the ideal time for the west to stump up so to speak money talks
Apoligise for length it is an art not a science!

Hav't seen a FFFFRRRR-Frally friday for a while- lets hope so

Matte
You are correct that NDA's have not been released in an RNS but this is quite normal. If you own BP there would be 10 a day!. BUT Zaza has stated some time ago that NDA's were in place ( We know others have been in that data room) but we know know no detail - again this is normal it may even be the case that they are now terminated WHO KNOWS!

JME
All I am trying to do is to add my little bit of knowledge and understanding of the geo politics which professionally I have spent many a year directly involved in. It is not a precise science but there really are only a few people on here who take an interest in such things BUT they do have an influence as the O&G industry affect the economies countries and add external pressures and influences often outside the control of the Company unless of course you are a major where the tables can be turned especially in a developing country like Georgia.
At the end of the day it may sound simple. Is there an asset there? can it be recovered economically? can you get it to market? - others on here will know much more than me on this board than me and I respect both there input and the knowledge I gain but are are all part of the same picture and they are linked.There are constant changes in both so at the end of the day it is all about timing so I ask anybody on here Is the timing right? my own view for what it is is not quite yet but it is more than light at the end of the tunnel.
As to what any PR Company releases - well they have there uses as well as downside.
I am a long term holder and unless any changes very negatively will hang on in and I do look at both the board and the SP daily but that is just a part of the fun. I need to get a return of investment and I am sure I will with a good profit but as with the rest of my investments- trade rarely as I am a dividend investor for the most part.

Oppsi
Many thanks for positing. The front page giving a number of articles gives a very good picture of some of the geo politics as well as some important detail of just where georgia is in terms of both the energy supply and demands.
It is clear that We are very much at the center of this given our recent advancements ( yes we have advanced!).

This may explain what many will call delays for us. it looks to me as though the previous thoughts by some including me that there is a real game being played out in the background. This is mostly positive for us with a few bits and pieces still need to be sorted out. The overall direction of travel though is looking good in my view within these areas.
I accept that on a day to day basis re the SP this may be holding us back but for those willing to wait for things outside our direct control to be resolved the pressure when released WILL turn us into a regional big boy.

At present us PI's may be just a bit too much focused on either the SP or the results. we know the gas and the oil is there and as such this is about engineering solutions which already exists and having the right financing in place. We already know that as far as day to day ops go we are making sufficient dosh to keep YA of our back but this is day to day stuff.
I fell very strongly that we are being held back on purpose as we now have it confirmed that the Americans. the Spanish and the Chinese are more than poking there nose into the country and perhaps with greater zeal as they are in competition with each other and have seen the need.
Zaza and SN I think is playing a blinder which I know may not go down well with some but politics is not only complicated but moving. Such comments ( only) say that he would prefer to move forward with results for all our assets as a group and other associated comments i think is an excuse while the Politics moves on in a positive direction. At the same time he has to mange pressure from us lot. The balance is not easy!.

Just my personal view so feel free to have a go back but I am in here for the long term

Zaza has stated that having taken advice consolidation will not happen until the sp is around 2p- so a while to wait then

PLEASE PLEASE PLEASE can we stop this nonsense that a major is all over us. We simply do not know. When they are we will soon know about it and I expect in a very positive way - It serves no purpose spreading these rumors or indeed starting one!

what we do know is that some data and we do not know what, has been shared and that was some time ago. things have changed a lot from that time Anything else is just pure conjecture

Believe me when it comes to big OILand Gas they are all very well informed and may move when it suits them and that is all. Given what we believe is in the ground and retrievable at an economic/political time to suit them - not us

Sorry to be strong on this but people really must get real. Just look and read what the big boys are up to and what available money they choose to make available. it is all there plain to see

Ears
depends which school of though people are taught to speak Latin! Civis Romaous a well known Latin book in my era at school we were taught soft c others use a hard c.

Time is only a base line reference point the base line can be anything as long as both parties understand and use the some reference base line. No different to watching a conductor beating out 8 beats to the bar the time of a bar can be anything but as long as the orchestra all follow the conductor the piece is played in time.