Half yearly results23 Dec 2018 15:39
Georgian Tax Refund
From the inception of operations in Georgia, the Company has incurred certain tax expenses which per the terms of the Production Sharing Agreement with the Georgian government are subject to reimbursement from the state. The Company has notified the appropriate authorities and is in the process of collecting a tax refund from the Georgian government. As of June 30, 2018 the amount of refund due to the Company was $6.4 million. As collectability is uncertain, the Company has not recognized a receivable as of June 30, 2018 or 2017 for these ongoing proceedings.
When do receive this back and more? Must be selling more oil now with the new wells