Member Info for Dulwichman

Whilst acepting that political direction is a factor it ceratinly is not the only one. We live in a international market and LGN seem to be very aware of this. Trade deals which include finacial products opens up new markets and each Country will have different political and finacial cycles - these are all oppotunities for more funds under managment and LGN have the ware with all to enter these markets as long as they have both political and finacial nouse. If you look say at some of the large multies they are full embebed with the political and diplomatic decision makes. It realy is up to the Company just how far they go, just having a european focus (which we do not have ) is simply daft for our size and wealth the Indo Pacific rim area is now open to us thanks to brexit so this could be a really excellant share if you are a long term holder

Many thanks looed as ever. Interesting that you put the words " Couple of outsatnding matters" in quotation marks in your update. Anybody hazard a guess if the American version of "Couple" translates into English in the same way ie 1 or 2ish matters. If it does and they turn out positive this would re shape the landscape from our perspective in at least the legal definiition of of a short time period ( Ie for ever!) and we will will know and understand a lot more and with light at the end of a tunnel may even to able to return to the normal ups and downs of the active Commercial world. I predict by Xmas of this year we may be able to possible have so kind of hope turning in reality . No doubt I am wrong! Time for another Heart starter Chin Chin

Whilst I do not have any problem with Looed explanation of "slim" especially "FRC cannot continue to be a litigation-focused company now most of the litigation seems to be out of the way.

So whatever they have, I think they are going to have to show their hand soon else the other parties who have sat on the sidelines will move on."

I personally think there are more factors that have to be accounted for which again we are in the dark. To name one for example we ceratinly had very big support and pressure from Uncle Sam do we still have that? add another that one way or another we had Halibuton doing quite a lot and if zaza is still be be belived big major(s) were looking under the hood. So can this all be re energised? well I suppose where there is money and geo political influence at stake it can but when?

To add to the possible ++ I read over the week end that due to the change in Alchol tax many brewers are reducung the strength of some beers (mainly the stronger ones) which will save a price increase. Not entirley sure how this translates into the price of a pint over the counter and subsiquent profit. For me I buy beer in general for the taste but avoid rocket fuel as I am a session drinker. being used to London prices a penny or two here or there makes no difference to the number of pints I drink especially as certainly in London people pay by card so most people would not even know the price of a pint these days ecept perhaps wheatherspons drinkers. But is this the same for the rest of the country where most of out pubs etc are?

Gordon the Novice

Absolutly no isuues at at all with your corection. Those who know me will know that I do like a little heart starter before I get out bed in the morning and on the odd ocassion over do it. Age is a terrible thing and does bad things to your body I can now only do once a night what I used to be able to do all night long and even during the day if the oppotunity arises. Add in the fact me memary is going ( cant even spell now) last night I even accidently reached for a glass of water during the night!

Back to basis ( Hic) I know some people do disregard the geo politics but I still hold the view that a key driving force in the energy sector is everything from local to geo politics- ulitmately money really is not the issue over the principle desire to be energy secure for any nation. of course money matters to both us indervidually and to the Company I will never deny that but even looking at us in reality we should have gone down the pan a long time ago but normal rules simply do not apply. Any close look at us things have happened in a positive way for a long time and in my view will still keep happeneing. The only real unanswered question is will we as share holders benefit? For that one question is in my mind up for debate but lets hope so. It is all in the land of the Jabberwoky maybe?

"The time has come to talk of many things" The Walrus said. Nugh said- its Pimms o'clock and watch the test match- Nothing anybody can say until we find some more news ( PS its a lot better with a good slug of Gin in it)

Riptonk

Firstly I agree with your comments re The west. It is a complete mess and this is from my past - there was a time when the west was quite a co hesive group with much going on behind the scenes. This is not the place to explain further but take it from me that on a geo political basis the UK under Boris was doing a lot to attempt to put matters right, Sadley he was fighting an uphill battle not only politicaly (both nationaly and internationally) and also internally from many of my former foriegn office collegues. What ever his other faults he was right in taking the leadership re Russian activities and was even making some progress re china. Matters have got worse since his departure as PM. I do pick on one point though be very carefull about looking at russia through western eyes. Its a mistake that even experienced diplomats still make despite warnings from those whose job it is to Russia watch ( we sadley have precious of those now and although recuitment is taking place they need experinece and a huge mind set change to be of any use use. The one positive is that the UK did realise this ealy on sadley even th USA dropped there guard perhpas only Poland with limited resource maintined the Russia watch. as for the rest - very much no comment!!!! Too much reliance on Knights on white chargers.

Returning to our own position - dependant on what happens in Turkey and which way it blows Georgia is an important place with many eyes looking on it. It is only my guess now but I do think that will benefit us -the real question is when. We can get all our ducks in a row but if the Politics is not right then matters will stall.

Uk Gov just announced millions in funding for Hydrogen mainly for use in Industry add in the fertiliser aspect it could be of use to us. The argument is all about self relience. The intention is to use the excess energy from wind frms to produve the Hydrogen. I wonder if we will poke our nose in especially as Baker Hughes are well established in the UK?

Quit agree about negative comments on private education. Good manners start at home NOT SCHOOL. Back to buisiness - Does the now banning of Russian diamonds affect any diamonds we have? As a general comment when a lack of supply happens then those who can supply get a better price but are we too far down the track with a fixed price rm contract?

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!