Member Info for Madpunter

Anyone here on Facebook? I don't know if this is the right person as I'm not on Facebook.

https://www.facebook.com/otar.urushadze

My post from last Saturday is copied above. Welloiled, is this the same person?

It's taken almost two years for the GG to register Green Capital. Is news about to come from the court cases in the USA?

Posted by daniel1son @ 03:57 on the 2nd May 2019 :-

The 2 latest docs have just been uploaded to Dropbox!

https://www.dropbox.com/sh/6lw9qe59pv1dh8e/AADZUU2UqC1uFd72_O8iQA3Va?dl=0

The transaction proposed in November—new financing expressly senior to the Note—was approved after excluding Hope’s vote, but ultimately failed. The transaction proposed in April—a farmout agreement with a Frontera entity allegedly not subject to the Outrider Note obligations—was executed, thereby purporting to transfer all of Frontera Resources Georgia Corporation’s (“FRGC”) oil and gas assets in exchange for a 5% royalty interest and debt relief unrelated to the Notes and of highly questionable veracity. With respect to each of these transactions, Hope’s request for basic background and explanation was denied, and his vote as FRC director was excluded in order to achieve the requisite “unanimous” vote. Additionally, Outrider has learned that Frontera has approved a production sharing contract through operating company FRGC, which improperly grants unknown party Green Capital LLC a security interest directly in the operating assets, in violation of the OMF loan agreement. Despite numerous requests by Hope, both in his capacity as secured creditor and board member, Frontera has refused to provide meaningful basic detail regarding the Green Capital transaction.

Anyone here on Facebook? I don't know if this is the right person as I'm not on Facebook.

https://www.facebook.com/otar.urushadze

'A soft revolution is required.' IMHO GK's new party.

The GD had a majority of 14 (150 seats = 76 for a majority and GD had 90), which will now be down to 9.

Aurora1 - That makes 5 resignations.

07.03.2021 / 01:29
"Lelo" demands resignation of Irakli Gharibashvili and Anzor Chubinidze
"Lelo" demands resignation of Irakli Gharibashvili and Anzor Chubinidze

"Lelo" leader Mr. Khazaradze Prime Minister Prime Minister 's and the head of the State Security Service Anzor coincide demands resignation.

"On March 6," the first TV "report aired, which took Bera Ivanishvili talks Irakli Gharibashvili and Anzor Chubinidze with , contains serious organized crime.

"Lelo" demands: to immediately start an investigation into the facts told in the story; International authoritative investigative institutes were involved in the investigation; To avoid influencing the investigation, Prime Minister Irakli Gharibashvili and Anzor Chubinidze, the head of the Special State Protection Service , resigned immediately .

" Participation in any format with Irakli Gharibashvili and his involvement is unacceptable for Lelo," Mamuka Khazaradze wrote on thesocial network.

For information, according to TV Pirveli, they obtained a secret audio recording, according to which, according to them, Bera Ivanishvili, together with Irakli Gharibashvili , ordered the punishment of several people, including a child, for unwanted comments.

https://www.interpressnews.ge/ka/article/645361-lelo-irakli-garibashvilis-da-anzor-chubinizis-tanamdebobidan-gadadgomas-moitxovs

Until this is all sorted out it will be impossible for FRR to get a deal or a JV IMHO.

Aurora - As soon as the World economy starts the recovery after COVID-19, there will be an oil shortage, as lots of the uneconomic wells that were shut will not be able to return to production (especially the fracked wells). It will take time for the production to be ramped up and IMHO OPEC will want to keep the price high (RSA needs over $80/bbl to avoid a trade deficit).

The PoO has bounced back nicely after last year's lows. Brent is currently $68.22/bbl. Block 12 trades at a $5/bbl premium to Brent due to the exceptional quality of the oil.

https://oilprice.com/

Maybe thinking of their future's and deserting the sinking ship before it's even started to list?

WHamBoy - From GD.

Four resignations now.

Phil - IMHO you're totally wrong here :-
' Someway along the way they have been able to tap into the gas and that apparently brings in a lot of money, way more than the oil at least initially, apparently.'
The gas needs a lot of infrastructure, as it needs separating, scrubbing, condensing, compressing and transporting through pipelines. The oil can just be transported by tanker after separating. If it wasn't for the associated gas in T39, then Block 12 could be monetised quite quickly, as the well is a gusher. The gas can only be flared when well testing as far as I know, otherwise with a flow rate of 250bbls/d through a 3mm aperture, it has the possibility of flowing at over 4kbbls/d at full bore.
As Block 12 will be of significance to the future EU and US energy independence from Russia, I just don't see SN and ZM taking advantage of the situation, while being backed by political heavyweights.

Njames - IMHO the spat between ZM and SN is all about running down the money available for director's to use for court cases under the insurance, leaving SH/O struggling for funds. Both ZM and SN are aligned with SH's having converted debt to equity at 10 times the share price. SH/O has never done anything to help this company. SN and ZM have had to endure an invasion; a fall in the PoO making funds for O + G exploration non-existent; a hostile take-over; a hostile government; and arbitration, which would have resulted in the loss of Block 12 without ZM's constant interviews attacking the GD and SN's lobbying and networking with prominent people and organisations.

There have been 42 articles by foreign diplomats, politicians and prominent people criticising the GD over the last two days that I have copied to the other BB. I'm sure there are many more that I've missed on other sites, but it shows the strength of condemnation. IMHO FRR needs this situation resolved before anyone will be willing to fund the FDP or undertake a JV.

IMHO the sanctions against Nord2 are linked with the transport of gas through Georgia from Azerbaijan, and the future gas from Block 12. The GD's arrest of an opposition leader has the hallmarks of BI all over it, and a lurch back towards Putin. The GD today has been accused of mistakes in applying for the COVID-19 vaccine in order to keep a 9pm curfew in place for political reasons. IMHO this is all linked with delaying FRR's FDP, which will be in direct competition with Russia's supply of hydrocarbons.

https://www.interpressnews.ge/ka/article/643842-sergo-chixlaze-ganashi-vakcina-miiges-manamde-iqo-ruanda-ki-batono-ar-vedrebit-israels-da-britanets-magram-ganasac-agar-shevedarot-bangladeshs-da-saomar-vitarebashi-mqop-avganetsac-ar-shevedarot

PJOHN - I still think that a deal will happen, but IMHO it will now require an election first. Either through pressure from the West, possible sanctions and protests in Georgia, or we'll be waiting 4 years until the next one. A FDP for Block 12 will require billions, but who will invest that sort of money without stable government? It's such a huge resource that it's taking a gargantuan fight to get over the final hurdle. IMHO the PM hasn't resigned and left the GD for nothing. He has to be favourite to be PM if there's an early election. He could be favourable to both sides. He resigned on principle, which the opposition parties liked and as a former GD member, would be acceptable to them as well. I just hope there's enough money coming in and we can see off the threat from SH/O.

Kramer is already calling for sanctions.

Who would risk investment with today's events? I can't even mention the events on here as the post will be deleted, yet those events are critical IMHO to any deal.