Member Info for Madpunter

EkXoc - The infrastructure for electric cars is a long way off. LA's are still implementing local parking zones with raised kerbs, reduced parking and bollards. Instead, they need to be dropping kerbs to allow people to park outside their properties, to enable charging in front of their house. The reduced parking near me through one of these schemes has resulted in parking up to a furlong away, if returning home after around 1800 hours. Remember, there's only 9 years left of sales of new vehicles with ICE. If another 10 years is allowed for those owners to keep their vehicles before buying an electric vehicle, then there's less than two decades to implement the infrastructure. It's taken about that length of time just to plan and START BUILDING a new bus station in Cardiff.

If the reserves stated in the Ukraine interview are correct (19+ MMbbls of oil equivalent) , then FRR's reserves would effectively double BP's reserves (19.9MMbbls of oil equivalent) and at a very low cost per barrel. Therefore, if BP are part of any deal being negotiated with FRR, they wouldn't have to look for any new oil. There's decades of supply, which would take BP through to the point where alternative energy replaces hydrocarbons, and they become primarily for other uses.

https://en.wikipedia.org/wiki/BP#:~:text=%2C%20BP%20had%20operations%20in%20nearly%2080%20countries,division%20is%20BP%20America%20in%20the%20United%20States.

Oopsi - IMHO Zaza has done 'that' as both the Texas case and Californian case have been pushed back to enable a possible deal to take place. This could make Zaza very rich and now that BI has retired from politics and is giving over 90% of his wealth to charity, the political field has opened for him. Therefore Zaza may want to distance himself from the FRR BoD, as they appear to have aligned with the GD, whereas Zaza is aligned with the united opposition.

The money is not from FRR, but is probably from SN and ZM.

NOTE: The organization itself did not donate, rather the money came from the organization's individual members or employees or owners, and those individuals' immediate family members. Organizations themselves cannot contribute to candidates and party committees. Totals include subsidiaries and affiliates.

https://www.opensecrets.org/orgs/frontera-resources/summary?id=D000071040

Zaza is a proud Georgian living in the country who has aligned himself with the united opposition in Georgia. The FRR directors, Uncle Sam and the EU appear to have aligned with the GD party, hence the removal of Bidzina Ivanishvili and the probable NATO membership today. IMHO the USA and the EU were willing to deal with whoever was in government in Georgia, as long as they are aligned with the West. The GD have demonstrated this alignment with Bidzina Ivanishvili's retirement from politics and donation of more than 90% of his wealth to charity. This has earned him the Order of the Legion of Honor from French President Emmanuel Macron. Therefore, any deal with the SM's could propel Zaza into being the richest person in Georgia, and any future political aspirations could be thwarted by the switch of allegiance. Hence, with Zaza taking legal action against the directors of FRR, it demonstrates that he is still aligned the the united opposition, and has not used them just to enable a deal that will make him rich. The question is whether Zaza would take this action if it reduced the chances of FRR's success? IMHO the answer is no and a deal is not far away.

https://agenda.ge/en/news/2021/72
https://agenda.ge/en/news/2021/28

Mole - I thought the split was 51% GOGC and 49% for FRR, hence the 5% RA becomes 2.45% of the oil under the PSA.
IMHO the approval of the transfer hasn't been updated in the files due to the cases in the US. If the 5% RA left in FRGC was to be returned to the GOGC when it was liquidated, then FTI could have stalled the liquidation indefinitely to hold up any possible deal (SH/O could have used this as a negotiating chip). IMHO the 5% RA was a way of getting the GOGC to allow the transfer scenario, something which was unexpected by SH/O, especially with the arbitration (hence my 'Achilles Heal/Trojan Horse' post). Some of the files that were viewable last year, if I remember right could not be opened when they first appeared in court papers in 2018. As for the Green F/O, it was possibly vetoed by the GOGC as not being 'technically and financially capable', but may have served it's purpose.

Mole - If Block 12 wasn't transferred and FRGC was liquidated, then the Block returns to the GG. The 5% RA IMHO is the same as leaving 2.45% (5% of FRR's 49% of Block 12) in FRGC. As FRGC was liquidated on the 3rd December 2020, then the 2.45% returns to the GG.
If a deal is done for Block 12 which is held in a subsidiary company to the entity holding our shares, then it can be sold without our approval. A special dividend would then be paid and if the Moldova asset has been taken back by the Moldovan government, then FRR would be a shell company and we would get a vote on liquidating the shell company.

IMHO part of the restructuring has already taken place, as it required the liquidation of FRGC on the 3rd December. The 5% RA now returns to the GG which could have been a stumbling block for any licence extension. If the 5% RA had remained in FRGC and a deal with the SM's had taken place, then FRR would have got a 5% Royalty of all hydrocarbons extracted every year from their 49% share under the PSA. Now that it has reverted to the GG, it increases their share under the PSA to 53.45%, and any deal for Block 12 will reflect FRR getting a 46.55% share under the PSA.
IMHO the liquidation of FRGC couldn't take place until all avenues of contact with ZM and Levan had been explored. Furthermore, any deal with the GG removing BI from a position of influence in the GD, may have also required the removal of ZM. Pure speculation, but one of my fears when PI's were planning on getting a journalist to contact Zaza prior to the election, is that it would open a line of communication for others as well. If this is correct, then it also dovetails with the Texas case rescheduling, and subsequently the Californian case as well, allowing more time for a compromise to be reached between FRR and it's creditor's.
If an offer were made for Block 12 it would allow a current valuation of FRR and it's shares. Just to ease the maths, lets say the offer was $15.7bn, then the share price would equate to $1 per share. The creditors could be given equity to clear all the debts and SH/O would get 40m shares for the $40m debt (rounded to the nearest 10m). If the remaining headroom shares are still available, then a vote by SH's wouldn't be required. If a debt for equity swop can be agreed, then FRR would be in a position to borrow money for field development, especially with the expertise of Dustin Aro back on board. This should ensure that any deal with the SM's is not a derisory one IMHO.

When the $5/bbl premium to Brent is added, bodes well for any possible deal with the SM's.

https://oilprice.com/Energy/Crude-Oil/US-Sanctions-Halve-Irans-Oil-Revenues.html

WHamBoy - Thanks. I don't bother with ADVFN for obvious reasons.

Bezzy - I'm not sure where. However, Pete Olsen was one of the Congressmen who was lobbying for FRR in the Arbitration as far as I remember.

'During his seven-year tenure with Congressman Olson, Tyler served in various roles including campaign manager, district director, and deputy chief of staff.'

This Tyler Nelson seems to fit the bill :-

https://cgagroup.com/people/tyler-nelson/

Aurora1 - Sorry I should have added you to the subject heading.

A step backwards!

Star - They're just worried about a rudderless ship at a time when changes are happening in adjacent countries through the recent conflict. Status quo maybe first choice, but it is not the only choice.

Star - Do you honestly think that the GD would not continue with it's election methods even when the opposition don't intend to vote? What if the opposition which had publicly announced a mass boycott, had then secretly told their supporters to vote in a constituency that was expected to be close? IMHO the GD would not risk the possibility of such a scenario. Also the first round produced accusations of threats of violence; paying voters; more votes than voters; observers banned from polling stations etc., so they wouldn't all have to be 'party workers'.

The GD would also know that the united opposition would use the vastly reduced support for the GD as proof of rigged elections. Therefore, IMHO the GD would use the same amount of effort in getting it's voter's out to vote, to reduce the chances of the discrepancy in the voter percentage increasing international opinion in favour of the opposition's stance.

Enlightening.

ODR - Does that mean Mapp gets a pile of carpet or a pouch of tobacco?

Mole - Varang was before I invested in FRR, but it sounds like I didn't miss much information about Varang