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Not good reading, no mention of transfer to FRUS. Looks like they're still playing hard.
We can only hope he's right and that we will get a share of the pie.
For Frontera, the Georgian government’s announcement they would back off seizing their operations offers at least a temporary reprieve — one they hope they can use to their advantage. Nicandros, now 60 and living in Houston’s Memorial Heights neighborhood, insists a big discovery is just around the corner. He just needs more time.
“You have to take something from the passion of the pursuit and the money we put behind it,” he said. “Look at an old friend in Texas, George Mitchell. It took him almost 25 years to figure out how to tap the Barnett shale.”
https://interfax.com/newsroom/top-stories/81372/
No.mention of block
15 Jul 2022 19:35
Georgia to begin producing own gas at field in Kakheti no later than 2024
TBILISI. July 15 (Interfax) - Proven gas reserves at the field in Georgia's Kakheti region total 16 billion cubic meters, and development of them will begin in the near future, according to the State Agency of Oil and Gas, Georgian Vice Prime Minister and Economy and Sustainable Development Minister Levan Davitashvili told journalists on Friday.
"According to the most pessimistic calculations, gas production at this field will begin in 2024," Davitashvili said.
According to the State Agency of Oil and Gas, the presence of natural gas at the site has been confirmed by a well drilled by specialists with the company Schlumberger . These reserves should be enough to last the country for approximately eight years, it said.
Almost all of Georgia's gas is imported from Azerbaijan, including 2.2 bcm in 2021.
Nice to hear from you Njames. I hope you're right.
Just wondering how much Nicandros and Co pocketed from the peak of oil and gas prices, will we ever get the truth. At the same time not sure what additional funding was required. Will be annoyed if they need funding now that prices are reducing. Rince d repeat.
“We have excellent cooperation in defense and security, but my goal is to elevate this partnership to a qualitatively new level,” said Zalkaliani, who was most recently foreign minister and then deputy prime minister. “We want to upgrade the level of our economic partnership with more US investment in energy, transportation, communications, tourism, hospitality and technology.” Dec 7 2022
https://washdiplomat.com/georgian-envoy-to-us-we-were-the-first-to-suffer-russian-aggression/
I'm sure I posted this last Yr.
Thanks Jim.
Trying to remain positive! If operations are ongoing then maybe we can get some spcial divi.
"Mr. Nicandros and our new management team have carefully charted a course for return to business and, in doing so, extensively funded this effort over the time period you reference. "
What does this mean, funded through sales of oil and Gas or via their own pockets, either way we should be aware as shareholders.
"And Georgia could be one of these partners. You see that we are building new partnerships all around us and the message I come with is that we want to build partnership with you when it comes to reliable energy supply to Europe and through it, also energy security for Georgia and the Caucasus, and for Europe. And I think that through this cable we can start to establish that."
Interesting, what do they have up their sleeve.
Delist? Buyout?
Pls .
https://agenda.ge/en/news/2022/4228
PM says gov’t expects at least $3 billion in energy investment over 3 years
https://agenda.ge/en/news/2022/4231
Georgian FM, US ambassador review strategic partnership.
Dear FRR -do we feature in any of these Plans?
https://agenda.ge/en/news/2022/3851
Some announcements coming up in next few weeks. I wonder if this will include Gas production initiatives...
In FRRs recent communication to Jim Slade they mentioned
"We are indeed continuing to make progress. However, due to ongoing legal proceedings that are related to the continued progression of our interests that our board is advancing, we remain restricted in our ability to share details at the moment for confidentiality/strategic reasons." 19th Sep FRR comm with Jim Slade.
This is dependent on court cases (Maybe today's court case) but they're clearly talking about the future and seem hopeful .
On 15 th of Sep...
"the strength of the ???????? strategic partnership, and the importance of increasing economic/commercial ties between our two countries."
David Zalkaliani discussing with US Congressman Brian Babbin (FRR supporter) - 15th Sep 22.
I can't see Georgia waiting til mid 2023 (hope court case) for these commercial/economic ties, maybe hope has settled and we're waiting for Zaza latest case to be out the way.
I'm guessing GC will be delisting soon andmake a cheap offer. Keep the comoany and maybe sell it down the line.
I think previous chairman was used in media to entice shareholders, probably thought GC was crafty, immoral when he learnt his plan and resigned. I dont think hes resigned from his other company.
Sadly i think you're right, have said it before,he wants this for himself but at a low price.
I suspect and RNS within days, possible positive announcement..
This could be potentially positive...instituions want to see detail before they invest???
Given Bidtack’s strong following of private investors, the limitation for only institutional investors to see the research note issued by Stifel, and the sheer lack of detail included in yesterdays RNS, will have increased nervousness among Bidstack shareholders as to what the revision in outlook actually was..."
This is last opportunity to get in at low price.
Significant revenue growth in 2023.