RE: Summary of the facts7 Jan 2019 15:58
Revised list.
1) Term sheet signed for a $60m loan with a NY, USA fund on 11th December 2018, with $20m available to clear existing debt.
2) Frr have a claim for damages of $56m for breaking his FD's.
3) Injunction granted 11th October 2018 to prevent SH/O enforcing the security underlying the loan notes.
4) Injunction discharged on the 21st December 2018. FRR to appeal and the injunction remains until the next hearing.
5) As the injunction was brought at the last minute it misses the Appeal Court sittings January 2019.
6) SH/O has twice before attempted a hostile takeover of FRR.
7) SH/O vetoed FRR's attempts to secure a loan.
8) Arbitration leaked to TW et al.
9) YA was caught naked shorting, but settled OOC very quickly and appeared to get off lightly.
10) Zaza has previously voiced his dislike of shorters.
11) Increased shorting on the 21st December 2018, after months of cancelled trades, similar to the naked shorting by YA earlier in 2018.
12) NOMAD resigns on the 24th December 2018, resulting in the suspension of trading, trapping both shareholders and shorters.
13) SN and ZM hold 17.4% of the shares and converted LN's at a very favourable rate for shareholders of 1p.
14) ZM bought £126.4k worth of FRR shares on the 8th May 2018, despite the obstacles in the path of FRR.
15) SN has friends in high places and is on the Atlantic Council. ZM has Georgian connections.
16) FRR has carried out political lobbying and look to have Ted Poe, Damon Wilson and John Bolton on their side.
17) There has been a recent clear out of staff at the top of GOGC and the SAOG website has been suspended since the end of September/ early October 2018.
18) Frr has signed NDA's with BP and BH, with the latter also signing a MOU. ExxonMobil has provided oversight for 5 years.
19) FRR has 18 billion barrels of oil and 202TCF of gas, but the majors suggest there's more and zone 19 proves there's more.
20) T39 has flowed from zone 19 at 250bbls/d through a 3mm hole without fracking. This equates to over 4,000bbls/d at full bore and over 6,000bbls/d with a pump at full bore.
21) The oil is top quality with 41.5API and less than $12/bbl costs, plus there's a pipeline 18km away.
22) Block 12 is part of the same Maykop formation and Kura Basin that has been producing in Azerbaijan, except in Georgia it is onshore rather than offshore.
It's Christmas Day in Georgia, so merry xmas to all.
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