Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Hi Oopsi .
Why dont you hold much hope of any success in the arbitration process ?
You did say earlier in the week you expected that if the decision went against us that FRR would have grounds to appeal. I would have thought the GoGC would want to hammer out a deal so field development could start not have years more of legal battles .
The GOGC wanting 99% back instead of 100% says to me they are ready to deal in arbitration and that we have not broken all of the PSA conditions. Arbitration is the resolution of a dispute outside of the courts. Resolution means solving a problem. The minimum we.should be getting back is sunk costs which is in the region of 3p a share. Who could deny us that ?
As soon as its officially confirmed we have been given an offer that was turned down we are in business.
Zaza said January was the crucial month . A week to go ...
GL to all the LTH ... shorters work out what 3p a share will cost you on your short .
Just some thoughts on the asset move. It seems confirmed now that the asset was moved out of FRCC . Whether this was done legally or not we dont know. What we do know it would have had to be done in conjunction with the GG-GOGC. that' says they are co operating with each other.
We will have to hope there was a loop hole in the mortgage document that they have exploited and that it was not water tight.
To add to that as Arsenal says it's probably a delaying tactic to get the arbitration sorted then get a SM on board and pay up Outrider in full.
Ziggy.
I remember Mole saying over a year ago that Hope Outrider can never get anymore than they are owed.i suppose if they got the asset back and sold it to a SM for peanuts we would be screwed.
I truly believe the asset move has been done in conjunction with the GG and the GOGC and that for their co operation we have given away a % of the block and the shallow fields and basin edge.
I'm sure the liquidators will be looking into the asset move as there was not enough in FRCC to cover what we owed Outrider . I'm hoping the asset move has been done legally. They certainly have had enough time to make sure it has been done so.
My first thoughts are the debt is not covered by the 5% as they are seemingly allowed to go after the other companies under the Frontera banner.
I'm not sure if the debt atm is the $2 million missed interest payment or the lot ?
We have been made an offer OFFICIALLY .... then and only then we are in business.
My thoughts are that a SM or majors have made an offer to FRR and the GOGC. Obviously both parties will know what the offer is. The stumbling block is the PSA. Why should the GOGC do a deal with us beyond 2027 when they can get 100% of the revenue beyond that year.
It does feel like we will reach agreement with the GOGC at some point if it is true that they have made an offer to us which has been rejected atm.
It's close now .
Madpunter , thanks.
What's your view on the Oopsi link earlier which states they have made an offer which has been turned down ?
MP ,
We know FRR are asking for $3.5 billion in the arbitration case. Does that not say we are happy to walk away with that and probably less than that once a deal is done ? If I were the GOGC I would do the deal at the arbitration then do the deal with the SM myself.
Yes they can come down fully on one side but I'm convinced they wont or they would have taken the license away
TSBS
I dont think the arbitration can be appealed. I hope I'm wrong as if it can be then it's in both sides interests to come to an agreement so serious work can begin in block 12.
This might go higher than GOGC V FRR ... behind closed doors it could be USA v Russia negotiating as I believe neither side can leave this to chance !
Thanks Looed.
We have had America backing for years, more so recently . Sounds like the US have a concern as to which way this is going. I hope I’m wrong.
Well done PJOHN . Thanks for sharing. They will need $30 billion minimum just for the gas or some kind of share swap.
Yesterday's rough calculations were just gas..... the oil might be worth a few billion too. A $1 a barrel would do!
ODR, you will have a long wait waiting for PJOHN to add anything at all . Just an attention seeking keyboard warrior. Best ignored mate .
5.3 TCM is 187TCF .... 1 TCF of natural gas is worth $3 billion at the well head , 187TCF at $3 billion is $561 billion.
All worked out with google. Not sure how close i am
Funny Regdik !
We heard the last thing to sort was the length of the PSA from Zaza. If that's the only thing outstanding it means we have huge backing , not a $60 to $150 million loan that after Hope is paid off leaves a small amount of money to bumble along drilling a couple of wells a year, no SM money where 50 -100 oil wells are brought on line and gas wells too with the help of BH.
The GG have waited long enough , they want the revenue and they want it asap. If we didn't have Super Major or Super Majors money coming on board they would have taken the license back by now.
Bugsy
Sadly they didn't say whether it was dry or associated, I'm sorry. There were a number of employees on the ground that reported seeing the oil and gas flow,I t was not just one employee.