Oopsi's post from yesterday :-
Zaza still active on Facebook posting again earlier today about Belarus and that a US senator is a great friend of Georgia . Obviously has more time on his hands
1) Zaza has been removed from the board of FRR after months of of almost daily antagonistic interviews.
2) The GG after threatening to terminate the Block 12 licence decided to let FRR continue operating.
3) In June JJ.Carter posted about Bryce D. Linsenmayer representing FRR. A lawyer who 'is focused on securities law and acquisitions'.
'Known for his particular skills in cross-border transactions and fundraisings'.
'He is heavily involved in negotiating and closing mergers, acquisitions and strategic partnerships'.
4) JJ.Carter posted links on the 14th June showing a letter from Linsenmayer confirming what Zaza was stating about the arbitration, that the GG have no right to take Block 12, but might try to take it anyway. Linsenmayer also points out that the consequences of releasing the full arbitration, plus associated documents ”will compromise the safety and security of directors and employees in country and abroad “.
5) JJ.Carter posted on the 3rd September about Zaza's removal from the BoD and the post of CEO.
6) The court papers in the Texas case prove JJ.Carter's information about the removal of Zaza.
7) Posted by bugsy-b on the 13th June :-
"and an oil company called Carter Oil which later became known as Exxon"
8) Posted by Zeninvestor on the 15th June :-
Co-ordination committee member - Frontera
I notice that Bryce Linsnmeyer and Steve Nicrandros are both given the above title in Zaza's letter to the GOGC requesting a conference call. Is this some kind of company war cabinet ? How are Frontera funding all this legal backing ? They certainly have a formidable adversary, so, while this new information is welcome, the battle is not easily won. Also worth noting that Bryce says the assets are estimated at more than $1 billion. I think we are all hoping for much more !
IMHO JJ.Carter has been spot on with his post's (I'm assuming JJ.Carter is male as per bugsy-b's post)and the big picture points to negotiations taking place between FRR and the GG.
IMHO any void in Georgia can be filled by the Bryce D. Linsenmayer and SN (the Co-ordination committee), plus 'a US senator who is a great friend of Georgia.'
IMHO this still requires restraint from SH's as we stand to gain little from intervention, but we could much damage to our prospects of success.
WHamBoy- Just as I suggested on the 4th September, after JJCarter's post (see copy of my post below).
I did mention yesterday that IF Zaza has been removed the GD could put spin on his recent interviews, due to board removal possibly discrediting him. This could be in return of a licence extension for Block 12, as without it the media publicity could be more detrimental to the GD. Also, this would reduce any future threat of Zaza as a political opponent to BI and the GD.
1) The legality of the transfer is debatable.
2) FTI and the creditors are only allowed what is owed and not allowed to profit.
3) A deal in Georgia that pays all fees and debts renders 1) + 2) obsolete.
4) Any charges for illegally transferring Block 12, 'IF' it could be proved to be illegal, would be null and void due to 3), which would be regarded as a CRS, which acts as a waiver.
The oil sales were based upon the little information we had about flow rates and production figures and prior to finding out that they had been blocked and accounts frozen. The liquidation was instigated by SH/O and you know very well that the liquidator will not risk missing their fee just to put a spanner in the works for FRR, so stop pulling the wool.
tsbs1 - If the liquidation proceeds in NY, then the GOGC take back Block 12 as it will be in a company with insufficient funds. The liquidator will not even cover their costs, but if they wait until a possible deal, they will probably be paid in full. What would you do if you were the liquidator? If SH/O thought they still had a chance with the NY case, why did they bother with the Texas case?
1) If no contact with SH's is essential due to the court cases, arbitration and the election, then yes it is acceptable. It is annoying, even worrying for some, but if it avoids a slip up that could prove disastrous, then IMHO it is justified.
2) IMHO the assets are good as it's the same geology as in Azerbaijan, the same Kura basin, and the same Maykop formation.
3) Good assets in countries invaded by Russia; needing funding after a banking crisis (2008); after a collapse in the PoO; or in a country where the government is blocking investment and exploration, are NOT EASY TO FUND.
4) If the assets are not as good as FRR are suggesting, why did the GG only become disruptive after FRR announced a huge gas resource?
5) Why have the GG spent millions on arbitration and lobbying if the O + G is questionable? Surely it would have been better to just collect the taxes and keep Georgian people employed?
6) Block 10 is not the same as Block 12 and Schlumberger may have been hampered by the GG.
7) If the assets are not as good as FRR are stating, why is the GG suddenly mentioning the depth that resources are allowed to be extracted from? Eldari B having a gusher perhaps?
8) If the politics aren't a factor, why are Icona Capital and the Anaklia Development Consortium also experiencing problems, and why has foreign investment plummeted?
9) If FRR had little chance of success, why does SH/O still want shares?
MHO a deal with the SM's will allow the debts to be settled, negating the NY and Texas cases. The Californian case can then progress at leisure.
So acknowledgement of shareholders, even if it means the demise of FRR, is more important to some than the possible damage that this contact could bring. These elections are of extreme importance, not just to FRR, but for the people of Georgia and to negate the control of Russia over the region and the energy supply to Europe.
1) There were demonstrations last summer and winter to change the voting system to PR, to facilitate the demise of the GD's control by Russia via BI.
2) Both the US and EU have applied political pressure to ensure PR and fair elections.
3) The GD have hampered FRR, Icona Capital and the Anaklia port development.
4) The foreign investment has dropped by around 50% year on year over the last two and a quarter years.
5) There were multiple media articles each day from FRR and the GD party, but almost nothing for weeks, suggesting negotiations are taking place.
These points shout restraint to me.
1) The Texas court has tried to issue summons on ZM and SN without success, while the NY case appears to have stalled.
2) SN and ZM went incommunicado, severing ties with the Atlantic Council and Flagstaff (who even deleted Zaza's number and made a point of stating the fact); they had no lawyers in the arbitration and Californian cases who could contact them for a while; the Texas address changed; the website was suspended for a while; and LB's ties with FRR and AmCham's Energy, Mining and Utilities Committee were severed (all at the time court papers were trying to be served).
3) Zaza warned of shareholders at a meeting who were trying to disrupt the company.
4) The California case is still ongoing.
5) IMHO ZM and SN have been trying to get a deal for FRR ( an NDA was stated in the court papers ), while fighting both SH/O and the GD party.
These points give a reasonable excuse for silence.
IMHO there is nothing to be gained from contact before this election, but there is plenty that can be lost.
SR - FRR, Icona Capital and the port development have all been obstructed by the GD. The foreign investment into Georgia has been dropping around 50% year on year over the last two and a quarter years, yet you don't see the importance of the election result towards FRR's chances. I don't believe you!
Looed - It's nothing to do with whether you agree with me, it's about contacting reporters and opening the door to the GD being able to criticise FRR, through the lack of Comms. It was the same a few months ago when you wanted to go down the same path after the arbitration. IMHO this is detrimental to FRR getting a favourable result. Hence, whether my perceived view of this matter is right or wrong, when you suggested this path I started to look at your credentials. Your late and intense arrival on this BB, with often mutual recognition of SR's posts and coupled with a continued push to involve reporters signalled alarm bells. All I'm asking is that you refrain until after the election and then contact Linsenmayer first, rather than ZM or SN, due to the possibility of opening channels with the NY and Texas cases, which appear closed. If Linsenmayer doesn't respond, then by all means go direct or through the Embassy or Politicians, but after the election. It's only 42 more days.
Ziggy - I have no qualms about contact via a route that could not harm the court cases, ie via Linsenmayer, but not until after the election. IMHO the threat of the GD party losing has possibly caused the latest lack of media on both sides and possible negotiations. To risk the GD getting the upper hand by using SH's lack of Comms is madness at this moment in time. After the election, if a deal has been made or the GD lose power, then the situation is vastly different. A more favourable government would allow the extension of the PSA, opening routes for finance or a deal. This fact then allows FRR to legally stall the court cases without the risk of a summons and the possibility of losing the chance to progress.
tsbs1 - As someone who is an optimist, it is only logical that I will find differences with the pessimists on this BB. When some of those pessimists side with poster's like StarRage and other's are then likening them to a 'tag team', it is only logical to have some doubt about their integrity from time to time. The rollercoaster ride that has been attributed to this share, has caused many to sway from both polar positions many times (I think from memory this includes you). Therefore, when ODR sees the significance of possible negotiations and the possibility of harm to FRR by contact prior to the election, it carries far more weight, due to his normal pessimistic stance. It is not ODR's alignment with me, but his change from pessimism to the possibility of a deal and the acknowledgement of the risk posed by contact at this time.
Ziggy - After the election by all means send the letter to FRR's lawyer's in the California case. As a summons in the Texas or NY case could be detrimental, I would avoid any direct contact. If the letter was from the shareholders group it would carry more weight, and Linsenmayer could advise if it was detrimental to the chances of FRR's success.
bedex - What if Zaza is not able to respond, as it might provide a means to serving a summons from the court cases? After waiting almost two years, I just don't see the wait of only 42 days as a problem, especially as the election could be extremely important to FRR's success.
bedex - Spudsoil was criticising people and suggesting that those people were critical without doing research themselves. The Frontera Archive proves that those people have done research repeatedly, yet Spudsoil who is critical of their criticism hasn't.
I have argued with ODR on many occasions on here and we rarely agree on anything, but even ODR agrees with me about holding back until after the election and posted the following @ 10:53 :-
Saying SR is TW is as ridiculous as say EkXoc is Zaza.
It seems to me that almost everyone supports Looed's message, and the first draft is an excellent start, but that a slight majority appear to support delaying until after the election.
The first time in a while that Madp and myself have the same view :).
Thank you ODR. I may have doubted you're integrity at times on here, but I don't anymore.