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I think you are refering to the time when many of us thought this would be ideal for BP as they have the gas interconector near by and the stated that the gas quality was good enough to go directly into it and it at that time ( may still have) the capcity. TheZaza Came along and at one of our meetings he went public over the fact that a Major was sniffing around the place ( the Nomad woke up) When he was challenged to if it was BP he eventually said "they have looked under the hood) If I remember correctly the Nomads expression was not good. I am then very vague as I think the Nomad then quit but I may be wrong on that timing. Certainly for a while ther was much chatter on here about it being BP. Note BP have recently walked back a bit on its eco trip ( as some other majors have) and there is a general concensus that they may be back in the M&A game. they certainly have the dosh. If you look at the top end of what we might have it would still be back pocket money to them over a development period
jack pack. If we actually get that far then In principle you may well be partially right. In general uncle sam is not really interested in making us rich ut is more likley to give a bit more to the georgian Gov to lean to the west if the play ball. I would add you can really think of BP as an american Company these days. I would add a third party player that being China.
From memoary if a share is dumped out of an ISAand comes back to market it is up to the revenue to decide IF it can be counted back in. It is after all not our fault it gets delisted. However there will be guidence for them to make that decision which we may or may not qualify for. Those who have Brokers should contact them when and if it happens and or seek advice from an accountant as I am a bit out of date ( I seem to remember that an indervidual had to make an application rather than it happening on block but things may have changed)
Whilst it is positive this case has be resolved. I think it may still be a bit of time to see if some of the other cases are unraveled. Quoting Shakespeare "The wheels of the law turn very slowly" I think it was generally agreed among most of us that at least some of these cases are interlinked either by design (I remember that it was stated that the American Lawyers that a strategic approach was very much involved to achieve an end game point). We simply do not know at what point SN knew for a fact that ZN was up to no good and at what point he involved the lawyers for advice, Nor do we really know what SN's end point is? It could be just to get zaza back with the view that every thing else has gone XXX's up or was it to get the Company up and running again. I very much hope the latter. Nor do we know how the Companies lawyers have done a deal with hope from the beginning ( remember at the end of the day hope wants a return and can not get one from a busted flush) everything else in the middle is just fluff if not both expensive and a waste of time for the courts which is not unknown in trying to achieve the ultimate goal I am informed by those who know the American legal system better than I.
All I am suggesting is that it took time to ravel up this mess and it may take time to un ravel, hopefully not as long though.
Many thanks looed. Within the limitations of the public knowledge base you have covered the ground. As with most cases the court would always prefer an agreed resolution which the court can rubber stamp. Judges must be fed up with knocking heads together and sending the parties away to have a further chat. My only real concern is kicking the can down the road again but as Shakespeare said. The wheels of the law turn slowly - I would add who would have difficult clients! (well except the legal teams) Thanks
perhaps more one for Looed. Given that a formal offer has been made and I gather not accepted. Would I be right in thinking that prior to any formal offer being made there would have been communication between all the parties and at least an in principle offer have been agreed prior to going for disposal? ie is this a refusal more a matter of detail (such as % of initial sum) or more likely an out right refusal for staged payments? would have thought even allowing for any past track record on payments a bird in the hand is better than nothing.
At this moment n time I would suggest that Russia has quite a lot on its plate. I would not be too worried about this as it seems clear to me that one way or another the west is quite determined. For those who perhaps do not have the knowledge of these sorts of things the present situation is quite likely to take a considerable period of time to come to some sort of conclusion. This not a slam dunk situation say like the falklands ( for those who remember that) it is very much a game of cat and mouse at present. Of course that can change into a big game hunt but that is a long way off yet and lets hope it stays that way. Either way when it comes to the rebuilding of a nation state they will need vast quantities of energy preferably on a relatively local tap. Transportation is very expensive when infra structure is damaged
Mick
I was on the understanding that BP with all its eco stuff may not be interested in new ventures, HOWEVER it was reported in the American press a few days ago the BP were reviewing its eco stuff and focusing more on its core future. I presume this means oil and gas. so perhaps they may still be interested. I note also that shell is reviewing its entry into the end user market. Perhaps these net zero targets are slowly being pushed out to a later date ans so there will be more interest in the O/G industry!
With the latest news in mind I wonder if a slight change in tack in any communications with the Company is in order? I fully accept (and that includes my self ) that the lack of communications has been more than frustrating along with this is the whole of the zaza affair witch is not only distasteful to us but must be even more so for SN. I am sure that SN must have some understanding form our point of view and at least accepts any negative comments sent into the Company.
But what is clear is that (and god knows how or why) not only is the Company still in existence but is fighting back on behalf of all the Investors with so far some success SO FAR. As a general rule these affairs are both complex and very messy.
I just wonder if the time is not right to show ( via are usual suspects) some positive feed back from our observations from 3rd parties that the fightback seems to be having some success. I know that in the world of business, emotions really do not come into it but if I were SN it may be nice to know that we as shareholders do keep on eagle eye on what we can find out and that whatever is going on behind the scenes which has been explained at least via email to a chosen few is for good reason limited (probably for legal reasons) his efforts and drive seem to be positive so far and well done. (For those who do not know me I am far from being woke in fact exactly the opposite) but with a bit of luck and following wind this may be come an active Company again. I think it is just polite and good manners to recognise even small successes = rather old skool I know but remember SN 's age and the American way of being Polite. It may hold well for us in the future you never know! Over to those who do the Communication as a thought.
The general rule I have always taken is that civil legal action is really a failure to either negotiate or unable to negotiate. Whilst not a legal eagle I have appeared in civil cases often as an expert. The number of times I have seen a judge delay a case going forward tell both sides to bash each others heads together is very common sometimes with annoyance from the judge knowing that the attempt of legal action is really one set of lawyers forcing the issue with no intent of it going to full hearing. I am convinced that there has been some game playing especially with the Hope cases as the actions of ZM have to say the least upset the apple cart. Just a feeling in my water that this part of the conundrum is going to work out well. Lets just hope some common sense prevails re the negotiations and it is amicable. Judges always with the best intent intend to leave both parties feeling they have lost out
Kipper. I agree with your comment in general however for those of us who were able to attend the meetings the NOMAD was present. If anything was said by the Company during the meeting was factually untrue then the NOMAD should/would have interfered. Not quite a golden bullet as a degree of over egging in marketing type level speak does tend to be allowed. An example is that Zaza made it clear as a statement of fact that a number of majors were very interested. under pressure from the floor he sated that a BP was looking under the bonnet. =There was no interference by the Nomad. After the meeting ( so outside the responcibilty of the Nomad and during the drinks session a few of those present spoke to zaza directly and gained a little more. when we all went to the pub afterwards we all took it to mean that BP were more than interested especially I seem to remember that BP had already been named on some technical issues. Its all a long time ago so I stand to be corrected on exact wording. Hope this just adds to your comments!
Leaving aside all of our personal investment which we may or may not see any form of return on. I still have to wonder why SN is still keeping the candle burning? he certainly does not need the money, he is no longer a young man and we gather that he has or at least had health problems. OK I accept he may have a kind of addiction to the business and of course we really do not know how much Uncle Sam is putting pressure on but he could just close the business down, walk away and simply play golf or what ever and enjoy the rest of his days and if i was a mean person just leave us in the poo. BUT he hasn't. In fact he seems to be fighting very hard. Makes you think.
Happy new year to ALL the Band of brothers. I need a drink for fear of becoming sober
drinking mulled port So I can mellow into oblivion for a while.
PORT DOES NOT GIVE YOU GOUT
Life.
Lets keep it very simple. the introduction of an improvement in electronic communications will be a policy driver for the region and of benefit to all in the region. We do NOT know if this has been influenced by the demand for oil and gas but it is certainly helpful in my view but again it will certainly not be because of us but a wide range of considerations. so in the edd it may be of benefit if we are up and running but is more by luck than chance.
Bugsy. Whilst not being an oil man (on the ground) I do understand the importance of tech within the industry. I fully accept in the scheme of things using satellite comms and data should not feature much but in these days of over active bean counters the tender is a helpful brick in the wall.
tbs so do I !!!! I expect Mole does as well!!
Firstly I do agree with devox and others regarding further action. To add to this it is important to remember our role as share holders - WE do have a legal interest in the Company but we do not run the Company! ( although I am quite sure there are some on here who could and maybe do a better job but we still do not have all the information to line up the dots-) what we do know for sure is the one member of the board has been judged to have not be playing cricket as a director. It is not the first time this has happened else where in other Companies- remember that a key player was acting for his own interests with malice and intent against both the Company and the shareholders- I am sure Looed will correct me if I am wrong- but the important point if you cut to the chase is that it was only found out after the event and the deception will have affected many players ,some quite big and important and trying to put thing back together in a way that regains trust is long and complex and made more difficult by the fact that people always attempt to find a defense for their actions however blindingly obvious they have done wrong and one thing nobody can do is to speed up any court cases. We all know that to have your day in court is a fundamental issue . We an only assume that the Company has a strategy that on paper is in all our interest (remember even SN has skin in the game) I acept this is not the way I would like as I sometimes believe in summary justice and this is one such case from an emotional point of view but would achieve little we just have to sit back and let the Company do it job and be thankfull they have not shut up shop many would have done its called "business"
To add to this on a single issue . A member made a move which changed the decision making of a judge. I ask all to remember that it was not done with ill intent in fact exactly the opposite a mistake was made and it has been apologised for. Lets leave it at that please. who here has not made a miss judgment?
We can only live in hope as things are still taking place. the lack of information is frustrating but in truth except for a short period it has always been like that, again when we did have the extra communications we still do not know how truthful that was!
Lastly many years ago I called this group "a band of brothers" it certainly was and in my view still is- brothers often disagree but t has no consequences. Lets keep it that way. And just thank those who have taken up the mantle where others for good reason may have left off but still keep an interest and contribute when they can. We all including SN have a common interest. Pity that bloody book a certain person who posts on here has not been able to write the next chapter yet. I am sure it will come - one day!
Njsmes I expect you are right but I seem to remember that it was also quoted that both the quality of the gas was good enough to enter the relatively nearby pipeline ( compressors etc required but peanuts in the scheme of things) and that the pipeline was one where BP had a major financial interest in and that it had the capacity to take extra gas. If my interpretation is correct and my memory is correct then I suspect BP did a bit more than just look at the data