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Sone things stand out:-

1- FRGC was represented by.....ZM! No legal representation seemed to be present.

2- I am checking with the translator but the area seems tiny - equivalent to 1.25 acres, assuming 5060 m = sqr meters

3- The areas mentioned in Pt.2 -

"Dedoplistskaro, Signagi, Sagarejo, Gurjaani, Marneuli and Gardabani territory (Geological allotment area on the plan – 5060 (5 Thousand Sixty) sq. m.)"

don't match the areas that Welloiled listed in his post from last July -

"I’m intrigued how GOGC has identified Mirzaani 17.2 km2, Taribani 17.66 km2, Patara Shirak 1.96 km2, Baida 3.71 km, Nazarlebi 0.49 km2 and Mtsarekhevi 1.59 km2 as the fields and the field areas which FRR are being allowed to keep and develop under the PSA. The field areas bear no relationship to the areas given on the FRR website, i.e. Mirzaani 100 km2, Taribani 80 km2, Mtsarekhevi 950 km2; Nazarlebi and Patara Shirak are most eastern of the shallow fields but appear to have a combined area similar to Mirzaani. Baida is a puzzle because I have not seen it referenced by FRR before and it was not identified in the Netherland, Sewell & Associates report of 01/07/2010 which did identify Mirzaani, Mtsarekhevi, Nazarlebi and Patara Shirak. From https://works.bepress.com/kakhaber-koiava/20/download/, Baida is located near the Azerbaijan border to the west of Taribani. However, I’ve found that Ryder Scott Petroleum Consultants have evaluated it together with the Mirzani ,Nazarlebi and Taribani fields (https://www.ryderscott.com/international-experience/asia-australia/georgia/);"

I wondered if this was part of the undeveloped lands (hence the reference to 2022), but according to ZM they where returned in full not long after the Award.

Pt.2 (final part)

Power of attorney N104/21-1

“Green Capital” LTD (ID 402052372), hereinafter referred to as – “Trustor”, empowers Giorgi Kishmaria (P/N 62006053441), as a “Trustee” to protect the interests of the LTD.

Trustee is authorized to represent the Trustor at the National Agency of Public Registry and within the representation to submit an application/request on registration of “Green Capital” ltd (ID 402052372) as the 50% stakeholder of “Frontera Eastern Georgia” Ltd (ID 204905674) instead of “Frontera Resources Georgia Corporation”.

Trustee is entitled to represent the Trustor in Oil and Gas Corporation and within the representation request to grant "Green Capital" Ltd the exclusive rights on Dedoplistskaro, Signagi, Sagarejo, Gurjaani, Marneuli and Gardabani territory (Geological allotment area on the plan – 5060 (5 Thousand Sixty) sq. m.) to operate on production of oil and gas granted to "Frontera Resources Georgia Corporation" from 27 August, 1997 to 27 August, 2022, by an agreement on the share distribution of products and the study of a processing plant

The Trustee is authorized to address Oil and Gas Corporation to recognize and register “Green Capital” Ltd. as a party of "Agreement on the Distribution of Products and the Study of the Processing Plant", dated June 24, 1997.

No one has the right to question the powers of the Trustee because the rights of the Trustee are not exhaustively listed in the present power of attorney. The Trustee is authorized to perform any other action that is not directly specified in this power of attorney, but is necessary to protect the rights and legitimate interests of the Trustor.

“Trustor”
“Green Capital” LTD /signed/
Director – Otar Urushadze

Translation ends

(I recall the '2022' date came up in one of the GOGC statements:-
“I am unaware till nowadays, whether they intended to return the exploration area after 2022. Now that the Arbitration Tribunal has already ruled that they are obliged to relinquish territories (which they had to concess back in 2017), they pretend as if they are intending so”-the lawyer explained."
https://www.gogc.ge/en/article/karl-prnbacher-frontera-was-trying-to-politicize-the-case-from-the-outset/482

I had already let them know that we had these documents and were proceeding to get them translated. I have also let them know we have this copy and that the company really needs to address shareholders on what appears to be a very material issue.)

Pt.1

Tbilisi City Court

D e c i s i o n on behalf of Georgia

31.03.2021 Tbilisi

Introductory part

Board of Civil Cases Judge – Archil Kochlamazashvili, Session Secretary – Tamar Tsikarishvili

Plaintiff – LTD “Green Capital”, Representative – Elene Kishmaria, Giorgi Kishmaria

Defendant - Frontera Resources Georgia Corporation CR-72227/USA/, Branch of Frontera Resources Georgia Corporation in Georgia, Representative – Zaza Mamulaishvili

Subject of dispute - Imposition of money, fulfillment of obligations under the contract, recognition as a party to the contract, recognition as a shareholder

Case hearing form - oral hearing

Resolution Part:
The court was guided by Articles 8, 53, 243-244-3, 248-249, 2591, 364, 369 of the Civil Procedure Code of Georgia and

Decided:
1. To uphold Green Capital's claim

2. To order Frontera Resources Georgia Corporation to pay the equivalent of USD 5,800,000 (five million eight hundred thousand) in GEL in favor of the plaintiff Green Capital Ltd.

3. To grant "Green Capital" Ltd the exclusive rights on Dedoplistskaro, Signagi, Sagarejo, Gurjaani, Marneuli and Gardabani territory (Geological allotment area on the plan – 5060 (5 Thousand Sixty) sq. m.) to operate on production of oil and gas granted to "Frontera Resources Georgia Corporation" from 27 August, 1997 to 27 August, 2022, by an agreement on the share distribution of products and the study of a processing plant.

4. “Green Capital” Ltd. shall be recognized and registered as a party of "Agreement on the Distribution of Products and the Study of the Processing Plant", dated June 24, 1997.

5. To register “Green Capital” Ltd. (ID 402052372) as a 50% stakeholder of “Frontera Eastern Georgia” Ltd (ID 204905674) instead of “Frontera Resources Georgia Corporation”

6. To return the state fee of 5000 GEL paid through JSC "TBC Bank" by "Green Capital" on 04.03.2021. and also return the state fee of 100 GEL paid through with the same bank by Elene Kishmaria on 17.03.2021.

7. The decision can be appealed to the Tbilisi Chamber of Appeals within 14 days after the submission of the reasoned decision in compliance with the rules provided in paragraph 8 of the Resolution, through the Civil Cases Board of the Tbilisi City Court.

8. The party wishing to appeal the decision, if he / she is present at the announcement of the decision or knows the date of the announcement of the decision, is obliged to appear in the Tbilisi City Court and receive a copy of the decision no earlier than 20 and no later than 30 days after the announcement of the resolution. Otherwise, the appeal period will start on the 30th day after the announcement of the decision. Extension and restoration of this period is not allowed.

Judge /signed and sealed/ Archil Kochlamazashvili

Pt.4

ZM - In fact that is why Europe and America are involved here today in our political crisis. Yes sir. I will specify the moment I was talking about. It was a quote from Kent. He said, "The Georgian Dream government has announced that it will apply for EU membership in 2024. They still want to join NATO, so I think it is clear that it is not only the choice of at least ¾ of Georgians, it is the constant path of the Georgian Dream governments, in which both formally the party chairman and informally the party founder is Bidzina Ivanishvili.” Further he continues this way - "I think when we listen to Georgians, including the current Prime Minister of Georgia, who was formerly the Minister of Defense and with whom we worked closely, this commitment to Georgia's path and its strategic goal is clear. I think this hearing is about how committed Georgia is to values. NATO is not just a military alliance. It is a community of countries that share values. In my opinion, this is the final test for Georgia.” This is what a representative of the State Department spoke about.

ZM - And here we must remember that these messages come from the people and the government of the country where such a crisis occurs several times a year. This is called closing the government when the government has no funding. This is a situation where Republicans and Democrats are entering a deadlock in negotiations, but no matter how fierce this controversy is, they still find a way out, find points of contact that they can agree on, and keep the country moving.

J1 - Therefore, they cant imagine why we can't agree with each other.

ZM - Of course. They cant imagine talking with each other without the interference of US government.

J1 - Yes sir. On the issue of aid, as we have already said, Jim Risch put forward the preconditions for US aid to Georgia. We remember in the spring of last year at this time there was such a proposal in the bill of the House Appropriations Committee, there was talk of some part, but it did not work out. However, Risch recalled that the EU had recently set the preconditions for providing financial assistance to Georgia. Do you think can this issue be put on the agenda?

ZM - As we have seen, the agenda has already active. Ahead was a bill that would have frozen 15% of aid if the country did not meet certain conditions, but then that 15% estimated freeze was no longer in the law, but the very fact that a political statement was made in Congress was already an important message to Georgia. As Senator Rish said yesterday, they seem to think that such a mechanism should be reversed in order to have more influence over the Georgian government.

J1 - The answer was interesting about that. This is where State Department spokesman McDonald said: "We can't want the reforms we talked about more than we want them to."

Pt.3

ZM - So it is, and at least that is the perception that Washington has today. And they have this perception in the State Department and in the Senate Foreign Relations Committee. This is practically a group of people who always stand by Georgia and they have to decide what kind of help the country will receive from the government of the United States in the future. By the way, everyone says that we should not want more democratic and economic development of the country than Georgians. If there is no democratic development, if equal conditions are not created for American business, no investment is made, the economy does not stand on its feet, then we will not be able to escape the influence of Russia.

J1 - We know that the formation of the new Biden administration is coming to an end, the team working on Georgia, and we also know that the Senate will work with the White House and the administration on Georgia case. How do you imagine, what resolution can the senate take towards Georgia and how can be the further aid linked to this matter?

ZM - In my opinion, if there is a resolution or any action to be taken by the Senate, of course the government will be responsible for all the events taking place in the country, and there will be some active action with them, but they will also work very actively with the opposition. So I do not think that this effort should be directed only at the government unilaterally. Probably enough efforts will be made for the opposition to be able to reach an agreement on both sides. Because it can not go on like this, and the US State Department and the State Department see it very well. There were many things which were untold at the meeting, such as the report of the US Director of National Intelligence, which was published 2 weeks ago, which clearly shows what Russia is doing in the United States, not taking into account the region, what Iran is doing on US soil and how it interferes in elections. Therefore, the US will be forced to put more effort and pressure on both the government and the opposition.

J1 - The pressure on the opposition to enter the parliament? Will be the West be satisfied if the opposition enters the parliament?

ZM - I would not define it this way. The opposition must determine what tactics and strategy it will choose, but the pressure will be on the country to avoid the destabilization that Russia is promoting today. Believe me, Russia is doing a lot more work in different directions today to aggravate and make the situation in Georgia more explosive. So they will try not to bring the country to the point where unrest or destabilization will start.

Pt.2

J1 - By the way I must say about Mr. Kent by all means. It was a little heartbreaking when he was talking about barbed wire in our conflict region. He said that one could see the Russian soldier in those places. I also thought at that moment that I do not remember the Georgian Dream members talking about these barbed wire in our parliament. I do not know if I missed something. I remember the opposition raising these issues in the previous parliament, but I do not remember much about this issue from the representatives of our government. Of course, there was absolute goodwill, fanfare towards Georgia, but Mr. Rish raised the issue there and then spread the topic that there can be no help if a number of reforms are not carried out, there will be no healthy democracy, and so on. How do you think this process will develop? Yes, the hearing ended yesterday, they talked about the crisis and expressed their desire to resolve it, but now we are talking about adopting a resolution. How do you see the continuation of yesterday's story?

ZM - You mentioned the barbed wire, and the author of these barbed wire is the Kremlin and the current Russian government. By the way, during these hearings, Russia was heard from many different participants, practically everyone mentioned Russia several times. And, we must look at the big picture and the context in which Georgia is mentioned. This is very important because its players - Russia, Iran and Turkey, who are trying to move their agenda forward with Georgia and the region, are very active. We should not forget that after the collapse of the Soviet Union, it happened a few months ago, when Russia still has its troops in all the republics of the Caucasus - in Georgia, Azerbaijan and Armenia. Therefore, the geopolitical situation has changed and it has not changed in favor of Europe and the US. For Georgia, whose aspiration is to become a member of the European Union and NATO, to be in a strategic relationship with the United States, this is a very bad and negative context.

J1 - However, it was also said that if it continues like this, you will not become a member of NATO. The Georgian government says it wants a Euro-Atlantic course but that is still a abstract issue. Such kind of thing was said at the hearings - You have to follow the values that these countries follow, otherwise you will not be a member of NATO and the European Union.

Pt.1

J1 - Our guest is Zaza Mamulaishvili, President of Frontera Resources. Thank you, Mr. Zaza for participating in the show. Let’s summarize and analyze yesterday’s Senate committee hearing. Give us your initial assessment and then we will go into the depths.

ZM - Thank you very much. First of all, what became obvious to everyone was what USA, particularly Washington, knows very well and accurately about the ongoing processes in Georgia. And these Senate hearings in the Foreign Affairs Committee were another good example of how everyone saw how important Georgia is to Washington, what exactly they are informed about, and how exactly they define the problem that the country is facing right now. By the way, Senator Shaheen stated very clearly and well that when the leader of the political party is in prison in this case only Russia rejoices, when the seats of the parliamentary opposition are empty, only Russia rejoices.

J1 - By the way, let’s move on to the interpretations now. Here, this phrase was followed by interpretations. The Dream interpreted it as the opposition was harassed, the second thought was that the opposition should enter the parliament. Did this mean directly that the opposition should just enter parliament? Did that mean that if the opposition is not in parliament it is just bad for this country? How did you understand that?

ZM - Because there was no different interpretation it was very clearly defined that despite the fact that these opposition seats are empty, the political leader is in prison (However, it was emphasized that this political leader has broken the law and is therefore in prison) ...

J1 - I was listening to very restrained and objective statements from the beginning to the end ...

ZM - Yes, indeed ... and they emphasized that the main thing is that no matter which angle you are looking from, the government should still take the first step and said very specifically that it is not only the job of the government to work for democracy and work for the development of democracy, but also the work of the opposition. So both the government and the opposition must work together.

J1 - In America, this culture has been in place for centuries, and they make decisions together. For example, Jin Shaheen and Jim Rish are members of different parties but work together on strategic issues. They have an idea, of course, but it may be a little difficult to accept that the government is somewhere else and the opposition is totally different.

ZM - You mentioned a very interesting thing and there was 1 important detail when Mr. Kent, the Deputy Secretary of State, said that both sides turn to us to meet and talk to each other. This means that we have tough situation in the country because the government and opposition can`t or don’t want to talk to each other unless this happens with the help of USA. This was said by Mr. Kent duting the speech.

Pt.5 (and final part)

J1 - the way, it's good that you started talking on this topic, Zaza. The money collected from the sale of oil was invested in agriculture and construction. I'm amazed. Once I watched documentary film on Youtube about the Chronicle of death of Kutaisi automobile factory. They said that because of the fact that Stalin was Georgian, they build these factories. That`s nonsense. Thousand of people were employed in 1948-1949 years, in order to cultivate the tea in large amounts. So, in order to organize the transportation of the the citruses it was needed to build automobile factory. Stalin was very clever. Let`s take for instance the factory in Ganja, a branch of a Belarusian factory. It assembles the tractors at the site but it`s spare part are imported. Why? A lot of money has been invested in agriculture and equipment is needed as well. If the Azerbaijanians think this way, why cant we also help our country? Azerbaijan produces condensed milk. Their country is a semi-desert. Their land is being irrigated, artesian wells have been dug up all over Azerbaijan. The man patronizes the country. We dont not take care of ourselves. Investment is required. He invested that oil money in agriculture, in construction - he built many factories. We don’t do that for our country.

ZM - We do not care and moreover - we are moving towards self-destruction. The fact is that no one will need this oil for the next 20-30 years. The whole world is switched to alternative energy. Mankind has no other choice. If the temperature does not drop, otherwise the geopolitics will change a lot and a big fuss will start. So that the window is left for 20-30 years on oil, and 40-50 years on natural gas.

J1 - Actually, we were told the same during my student period. There are more discoveries.

ZM - We still have the opportunity to bring income from this wealth to the people of Georgia and why should not we do that? We have been in self-destruction mode for a long time and that reminds me of 1 good example. At the beginning of the 20th century, in the 20s and 30s, almost simultaneously, Argentina and Japan decided to start an automobile industry. This is a genius example because at that time Japan did not even produce its own steel, had nothing, and created Toyota. The Americans helped Argentina with their best specialists and today Toyota is a company with about 200 billion, with the largest sales, while Argentina still does not have its own flagship car company. And what`s the difference? Japan today is the 3rd economy, while Argentina is facing the defaults. Argentina reminds me of Georgia.

https://www.youtube.com/watch?v=TfIqDK6mr6M

Pt.3

ZM - Of course. They should happily cross the border. Come here to the doctor. In the modern world, let’s take Britain, or the United States, people travel to work by train and sit on the train for 1 hour, 1.5 hours 1 way. So, in our case, to cross the border and go to work from Gali or Ochamchire is not the problem. But when your mind is occupied with corruption and various machinations, you have no time for anything else and to see widely what you can do to attract these people. It has to happen and it will happen soon. I mostly meet Abkhazians abroad, our compatriots and it is an amazing story. It is amazing how they feel about Georgians, Georgia and their homeland, but we must also take into account that they often do not say it out loud. They are afraid. It is part of politics and corruction. And, local clans use it the way they want to make their money.

J1 - The same situation is here. The poor are impoverished even more.

ZM - It is the same there and at this time you can not name a field in the country where Georgia did not have very clear minds, good experience and great potential.

J1 - Nadiradze was the creator of ballistic missiles. I do not know if you know, the US-Soviet negotiations in Geneva, he sat as a leading expert and amazed the Americans with his deep knowledge.

ZM - If we recalled about potential, I want to talk about Abkhazia. There is a huge supply of oil and gas in the waters of Abkhazia, in the territorial waters of Georgia.

J1 - Is this true? I heard that a pro-Russian subsidiary of Gazprom is doing the extraction. By the way, it is interesting to talk about this. I remember that the prime minister of Russia was visiting us, during Shevardnadze period, I think it was 1976, and he said that there is gas in Georgia. Then Shevardnadze said that we were looking for it as well. I also know there is some shelf near Ochamchire.

ZM - Yes. A huge supply of oil and gas is exactly in Ochamchire. Unfortunately it is illegally operated by Rosneft who does not recognize the Georgian jurisdiction in these waters. As for our part the government intends to sign an agreement with an Austrian company.

J1 - They say it is Austrian and in fact it is Russian.

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