Member Info for Looed

Kenirogas - The Arb panel consisted of a 1 person from the Arb Board, one from GOGC and one from FRR

FRR agreed with the findings of the Arbitration ("the decision was unanimous") so amidst all this noise is the true story.

Long article just and pasting the statement and recent events. Nothing new but here is the link if you want to look. I imagine there will be lots of these today. I will lonely post this one unless the others contain new info -

https://www.newsgeorgia.ge/gruzinskaja-storona-obvinjaet-amerikanskuju-kompaniju-frontera-v-nedobrosovestnom-davleni/

1- They pay no heed to the seemingly reasonable reason FRR gave for not discussing the result. As part of the Arbitration Process involves the agreement that both parties must sign off on any disclosure, seems unfair to be critical (I know, we all wanted to see it until FRR explained)

2- The talk about the obligations placed on FRR by the arbitration result - but not about obligations placed in the GOGC

3- I thought FRR disputed the bit about repaying taxes?

4- "Empty Box" - maybe FRR refused to share sensitive info with GOGC. GOGC claim the Arbitration supported them on this. We have no proof thus far.

5- We need clarity on the location of the asset. Mole was working through a heap of papers so hopefully he can shed some light on this.

6- Rectification costs. This hadn't been mentioned before ?

7- They say no more discussion but they didn't have to make this statement. The last statement re termination could have remained their final word.

8- We have learnt some new - admittedly not nice - things here. Lets see how the other side respond so we can better judge the truth in this.

The GOGC statement starts by saying FRR will increase public pressure. We anticipate an article is already in the works. Minutes after the GOGC statement the article on Congressman Bishop drops. Lets hope FRR come out fighting ASAP. I expect more congressmen will get involved now.

If the asset move is illegal - does that mean the asset reverts to GOGC immediately or its back to the original entity. So back to liquidated company / Hope?

This new statements refers to the termination as applying to the whole contract area - before it was 99% of the area.

Let the End Game begin!!

"Another Republican congressman, Rob Bishop, has joined the act of imposing sanctions on the Georgian government. The ninth congressman was added to the bill of Congressman Marquine Malin on May 5.

Republican Marquin Malin, a member of the US House of Representatives, sent a letter to Georgian Prime Minister Giorgi Gakharia expressing concern over the deviation from democratic values ??and the deteriorating economic situation. He posted the letter on Twitter on January 17. One example of business harassment is that of the oil and gas company Frontera Resources, which Georgia disputes with international arbitration.

Malin drafted Georgia's Fair Sanctions Act in 2019, but his fellow party members began supporting the act a year later.

The document obliges the US President to inform Congress whether Georgia is violating the obligations or agreements it has signed with American businessmen working in Georgia. Also, notify the current or former officials responsible for this. If the rights of American businessmen are violated, the president should impose sanctions on the Georgian government and officials.

Source -https://on.ge/story/55656-???????????-?????????????-??????????-?????????-??-9-???????????-???-??????-???????

PJohn - the GOGC typically play it hardball but this new statement does seem to close doors rather than leave some open. The comment on the asset move and the final statement infers they are confident of their position. I would say its not looking good, but as usual who knows until we see the full story. Sorry, wish I could paint it in a more rosey way.

I think that's the first time GOGC have commented on the asset move. Hard to glean anything positive from this.

"Public statements made by Frontera Resources Georgia Corporation to distort the results of arbitration proceedings became more frequent after bringing out the final award of Arbitration Tribunal over the dispute between Georgian Oil and Gas Corporation and State Agency of Oil and Gas, following serving termination notice of the contract from Agency.The Corporation and The Agency are expecting Frontera to increase the intensity of aforementioned statements and keep efforts to politicize the purely commercial dispute, which aims to exert unscrupulous pressure on Georgian side and mislead parties concerned.

In order to provide society with unbiased and objective information, the Agency and the Corporation offered Frontera to disclose the Arbitration award, which the company rejected.

The Arbitration award unambiguously defines appropriate obligations of Frontera including the return of the exploration area along with reimbursing relevant funds and it may not be the subject of discussion.
Despite Frontera’s strong efforts, the Arbitration Tribunal has fully shared the position of the Corporation and the Agency regarding Frontera’s statements over the discovery of volumes of oil and gas were unfounded and could not be substantiated. The Arbitration Tribunal also ruled that Frontera’s attempt to transfer the contract to its affiliated company (Frontera US) was illegal.

Contrary to Frontera’s statement the arbitration claims raised by GOGC and the Agency did not seek cancellation of the contract among the parties. Nor could it, since termination requires a declaration in arbitration of a material breach. The Arbitration Tribunal has unambiguously ruled the material breach of the contract by Frontera. As a result, the Agency has served termination notice upon Frontera based on the respective contractual provision .

The contract will be automatically terminated on July 27 2020 in relation to the entire contract area ..

Frontera is obliged to bring out the necessary steps in order to return the licensing block and rectify severe environmental conditions.

The Agency and the Corporation are no longer intending to continue controversy with Frontera, instead will follow the relevant procedures defined by the contract.

https://www.gogc.ge/en/article/-frontera-refuses-to-disclose-the-arbitration-tribunal-award-and-keeps-spreading-false-information/481

Oops - By "tomorrow" I meant Saturday. I know I am ahead of most of you timezone-wise, but I am not that far gone!

Georgia has a couple of Public Holidays coming up. Tomorrow, 9th May is 'Victory Day' and Tuesday 12th May is "St Andrews Day" So if we don't hear anything today it might well be all quiet until the long weekend is over.

(I am posting this now in the hope I jinx myself and news starts to appear right away.)

Denzal - the article should be on here -https://netgazeti.ge as this was the site mentioned by Shatner. He did say the jorno was asking / waiting for comments for the GOGC. Perhaps this is delayed, other news has pushed it off the front page, or its delayed on purpose as per Keysersoze post.

As with all things FRR - we will likely be the last to know!

I am not sure if it was Shatner who said this but I recall a poster stating the article would be released COB today.

Thats great - As I think you know what you are trying to find you are definitely the most efficient to manage this piece of detective work. If there was a vote for who should do this job - you or other "sleuthers" you would gain 100% of the vote. I bet everyone is relieved you are on the case. I certainly am.

I am not sure if relevant to your search - it may just be standard declarations - but there are some FRR statements about potential discrepancies between the PSA and legislative changes. These statements where from 2005 (though there may be more) so may no longer be relevant. ie -
"Despite references in the current legislation grandfathering the terms and conditions of the Block 12 PSA, confirmation from the
State Agency that the Block 12 PSA has been grandfathered into the Oil and Gas Law and the stabilisation
provisions in the Block 12 PSA, conflicts between the interpretation of the Block 12 PSA and Mineral Licence
and then existing, current or future legislation, including, but not limited to, any new Oil and Gas Law and the
new tax code effective 1 January 2005, may exist or could arise"

I should have added that the website is Russian based and is full of anti western articles ie - The West sent CV to Moldova and only Russia and China tried to help.

With that in mind, it is not unreasonable to think Moldova, Ukraine aren't watching whats going on.

On 29 Apr GOGC posted on their FB page their intention to terminate the PSA. In the comments section, the GOGC also make the following statement -

"13 oil and gas operations are carried out by 13 companies on the basis of share distribution agreements with the state and 20 general licenses for the use of oil and gas resources. Work is underway under the minimum work program and approved plan for each contract area. Which includes both different types of geophysical works as well as the drilling of exploration wells and the intensification of extraction works in existing wells."

Can anyone extract anything from that? We already have lots of projects on the go ?

Here is the FB page - there are only 2 comments of which one is above - https://www.facebook.com/StateAgencyofOilandGas/posts/2898599013697213?__tn__=K-R

Thanks Zeps - A while back he told me he was keeping his night shift routine but that might have changed now. I was calling out as havent seen him online for a while now and he usually posts when stuff has been going on as it has the past few days. Just hoping he is doing OK.

Just a shout out to MadP as haven't seen you online for a while and I was in the archive today which exists due to you. Hope all is OK and drop us a Hi when you can.

After a weekend of talk about privileged information, groups within groups - now we are suddenly given clues and challenges? The search for information is already tasking enough without sending people off on a potential wild goose chase. If this info is so vital it likely would have been discussed at the time - check the archive - or you can DL the appropriate software so you can do it yourself ? Looking forward to you sharing your findings.

I know Mole is a respected poster and have enjoyed his posts - always informative. But I found this a bit patronising.