Any posting on here that the company was dead because the website was suspended can apologise on here for being wrong and fear mongering at their own leisure. The cost of paying for the website maybe be peanuts but why would you bother putting fuel in a car with no engine?
The account was suspended not deactivated. It is fairly rational to assume they have not renewed their hosting fees. If they wanted to relaunch the website they would of built it in the background and the transition would of been more or less instant when they made it go live - in the mean time leaving the current one up. They still own the domain name but they are dirt cheap anyway. The website also seems surplus to requirement at the minute. It wasn't used for anything meaningful with any noticeable updates (although there was the news section debacle to counter this point, so there was some possible well meaning activity). It just feels like a kick in the balls because its one less avenue that shows the lights are still on to us shareholders and one less official (but never materialising) point of contact with company. Taking the grand total of effective points of contact from zero to zero. The hosting fees would of been very small so either the finances are super super tight or its an administrative error on bill paying. If that is the case then it should be easily and quickly resolved.
Based on what would be a rational assumption, the Georgian government wouldn't be wasting their time and money arbitrating under false pretences. The continuation of the arbitration indicates to me that FRR have 'got away with it' so to speak in regards to the asset transfer. Obviously time will tell. Maybe the stalling and obfuscation is literally just FRR stalling to get the finance to make Outrider disappear before they can fully investigate the matter and find that it is 'a bit dodgy'. For the time being, we have the asset anyway.
RE: Posted by Symore_Bottoms on ii15 Nov 2019 15:45
Zaza is trapped in a revolving door at the Last chance saloon, where the fat lady keeps lifting the mic up to start singing but stops as he goes out of sight, until he comes round again (Luckily for us FRR has paid the electric bill for the speakers to work anyway). Wish I could turn off till end of Jan but know no doubt I'll be checking on here nearly every day for a morcel of hope to add to my small pile of crumbs. The last indirect word from zaza to shareholders... ' ‘business as usual’ stance as the operations on the ground are very much in full swing and I suspect that this is not the last we have seen of the company.
Shareholders, I am told should sit tight, there may be a consolidation of the shares but they are still very much worth holding on to as a re-listing is very much on the cards and I understand that shareholder meetings etc will carry on. The court case can be attended to and the financing put in place, on the ground they are working with potential partners of significant size in Georgia.' How much has the picture changed I wonder. By the abscense, it appears that arbitration was never a worry at the time and maybe they didn't anticipate it to become apparent financial choke hold on the company it is now.
RE: GOGC confirmation or ongoing arbitration14 Nov 2019 14:48
I think that is based on frr's counter claim against the Georgian government. Let's face it most of people on here would be over the moon with $3.5billion dividend - whatever frr would keep for moldova/ukraine
Best confirmation we could hope for from an employee is that there is/was Baker Hughes and BP personnel pottering around on site still in fairly recent times. People should take some comfort that we are still producing and still supposedly drilling and therefore still functioning as a company, no matter how tenuously. Hopefully this employee payment issue can be resolved soon.
Continued drilling (BH still on the scene?) and production? Question is where is all the extra money going? Must be pretty soul destroying watching the oil go down the road for sale and being told there is no money for wages
RE: FRR to sigh deal with investor09 Nov 2019 10:18
So arbitration was delayed till the end of Jan and assuming all goes well financing will be put in place shortly afterwards. We know financing is going to be a fair old whack since the last we heard about it, it was at 160mil. Whether BP is still knocking about waiting for frr to get its sheet together is yet to be seen but I imagine it would only be a matter of time until a super major or the Chinese peaks some interest again if we survive and begin field development. I however, do not like the sound of 'crisis period' to me that means the staff will still not be getting paid until late January and that does not fill me with confidence. That is a very grim situation for them and the stability of the company. I hope they recieve some sort of interim payment before Christmas and that Zaza was being realistic.