Member Info for Madpunter

Posted by Madpunter on the 26th November :-

US and Georgia Sign a Security Cooperation Agreement

Minister of Defense Irakli Gharibashvili Visits the United States

http://georgiatoday.ge/news/18391/Minister-of-Defense-Irakli-Gharibashvili-Visits-the-United-States

Posted by Arsenal221 on the 26th November :-

Going on that extract, it reads in a positive way that USA want to seriously help Georgia.
As usual we wait & see

Posted by Madpunter on the 26th November :-

Arsenal221 - Not necessarily, as in the previous congress it was read twice in the Senate and referred to the Committee on Foreign Relations, but progressed no further. However, the arbitration may have scuppered it's chances in that congress. It's a two way street and if Georgia wants the backing of Uncle Sam then they will have to play ball. IMHO if they don't, then they can kiss goodbye to joining the EU and NATO and look forward to sanctions.

Posted by Arsenal221 on the 26th November :-

Anybody got idea of when the bill starts to go through above & approx length of time it might take?

Posted by Madpunter on the 26th November :-

Arsenal221 - The bill started in the Senate on the 23rd October, but there's no guarantee that Bill HR 598 will go through (see the extract copied below ). The current prognosis is that there's a 46% chance of the bill becoming law in this 116th Congress, which lasts until the end of 2020 (see second link below). Any bills that haven't become law by the end of a congressional period have to start all over again in the next one. There's no hearing in committee scheduled yet, although as it is thanksgiving this week there's not much listed at the moment (see the third link below). It may be that Uncle Sam has told the GG that it will only become law when they play ball with the licence. IMHO if the GG don't extend the licence then Bill H.R.1461 - Georgian Fair Business Practices Sanctions Act of 2019 will have more chance of becoming law (see the fourth link below). Other relevant legislation :-
H.Res.93 — 116th Congress (2019-2020)
Expressing the sense of the House of Representatives that the territories of Abkhazia and South Ossetia are a part of the sovereign state of Georgia and condemning the decision by the Syrian Arab Republic to recognize these territories as independent of Georgia.
H.Res.417 — 116th Congress (2019-2020)
Expressing the sense of the House of Representatives on support for Georgia.
H.Res.510 — 116th Congress (2019-2020)
Affirming United States support to the countries of Ukraine, Georgia, and Moldova in their effort to retain political sovereignty and territorial integrity.

Senate - 10/23/2019 Received in the Senate and Read twice and referred to the Committee on Foreign Relations. (All Actions) (copied from the first link below)

https://www.congress.gov/bill/116th-congress/house-bill/598
https://www.govtrack.us/congress/bills/116/hr598
https://www.senate.gov/committees/hearings_meetings.htm
https://www.congress.gov/bill/116th-congress/house-bill/1461/text?q=%7B%22search%22%3A%5B%22georgia%22%5D%7D&r=10&s=1

Posted by WHamBoy on the 26th November :-

Website
Not sure if it’s me, but the font on the website seems to have changed. Can anyone confirm this? Might just be on my phone, but it looks different to me.

Posted by WHamBoy on the 26th November :-

Website Suspended
Take a look - hope it’s just me

Posted by regdik on the 26th November :-

The most common reason is none payment if a suspension notice is posted. Interestingly the webmasters link on the page is also down.
So it looks like none payment and closure or a planned closure of the site. Whatever the reason I doubt we will find out until someone wants us to find out.

Posted by regdik on the 27th November :-
I agree tsbs. the most obvious is that is an unpaid bill due to the lack of financial staff to administrate the day to day running of the accounts. I'm sure this will be resurrected once other more important thing get sorted

Posted by sonnyclimes on the 22th November :-

US and Georgia Sign a Security Cooperation Agreement

http://georgiatoday.ge/news/18335/US-and-Georgia-Sign-a-Security-Cooperation-Agreement

Posted by Devex on ii on the 22nd November :-

Have to agree - something has changed - as I suggested yesterday in a different thread. We of course know not what.

I repeat my view that this absolute refusal to allow Hope to take up a windfall shareholding in FRR can only be explained in two ways. Either pure and un-reasoned obstinacy or a refusal to share future value someone who (in SN/ZM minds) is effectively a freeloader.

Given that the risk of failure, at least for SN, is a criminal record this refusal surely has to be based upon some degree of confidence in the eventual outcome?

So what might have changed? The only thing I can think of is that behind the scenes the likelihood of a relatively positive outcome regarding the arbitration proceedings has increased.

Posted by Symore_Bottoms on ii on the 22nd November :-

Well that was some critical and constructive feedback from ‘oopsi’, so we thank him for his time and expert legal eye over this.

Agreed Devex something has changed and I think it was probably over the past few months. And at the same time, observe how the shorters have been on an aggressive attack (with apparently some claiming to be investors LoL). Anyway, the clearest indicator has been FRR’s offer to withdraw voluntarily from the Cali case, albeit on a ‘without prejudice’ basis. From recollection, FRR were given a couple weeks to find counsel replacement. But Don’t be surprised if FRR seek an extension to this appointment. In any event, the next hearing on the Cali case is 4th Jan.

So what’s changed? I think it revolves around the arbitration and reaching some consensus. Zaza claimed in a recent article relating to employees non-payment of wages that there was only one issue waiting to be resolved (around PSA length). I think the PSA was farmed-out, which took a lot of stress out of situation.

Also consider the fight back in the Texas cases against SN and ZM.

Things on the legal side appear to be winding down which means they have some funding or a farmout deal to settle with OMF. I personally believe we are two-third way there, things hing on securing 25-yrs(?) production license for B12.

JMO

Posted by Madpunter on the 22nd November :-

theprodigy - Agreed, there's almost daily strengthening of ties between Georgia and both the US and the EU.

US ship Porter enters Batumi
Agenda.ge, 22 Oct 2019 - 13:17, Tbilisi,Georgia
The US ship Porter (DDG 78) has arrived in Georgia’s coastal city of Batumi for a port visit earlier today, the US Embassy to Georgia reports.

The visit serves to highlight the continued cooperation between the US and Georgia by promoting regional peace and stability. This is the ship’s second visit to Georgia,” the embassy said.

The US Porter is an Arleigh Burke-class guided-missile destroyer of the United States Navy.

The video has been released by the US Embassy Tbilisi.

https://agenda.ge/en/news/2019/2835

CoE Sec Gen Marija Pejcinovic Buric on Georgia’s Presidency, Letting Russia Back in & the 2020 Action Plan for Georgia

http://georgiatoday.ge/news/18307/CoE-Sec-Gen-Marija-Pejcinovic-Buric-on-Georgia%E2%80%99s-Presidency%2C-Letting-Russia-Back-in-%26-the-2020-Action-Plan-for-Georgia

French national navy warship enters Batumi port
Agenda.ge, 22 Nov 2019 - 13:41, Tbilisi,Georgia
French National Navy warship Commandant Birot has entered the port in Georgia’s western coastal city of Batumi earlier today, Batumi City Hall has reported.

The reception of the ship in Batumi. Photo: Batumi City Hall press office.

Batumi City Hall says that the vessel entered the city port per a bilateral cooperation agreement in the naval field between Georgia and France and it will participate in a naval drill with Georgian border police personnel and special operative forces.

A joint drill is scheduled to take place on November 25.

https://agenda.ge/en/news/2019/3178

Posted by Madpunter on the 22nd November :-

NATO Sec-Gen: ‘We will help, support Georgia on its way to NATO membership’
Agenda.ge, 21 Nov 2019 - 01:04, Tbilisi,Georgia
NATO Secretary General Jens Stoltenberg said “we will help and we support Georgia on its way towards NATO membership”.

Stoltenberg responded to Georgian journalist ahead of the meeting of NATO Ministers of Foreign Affairs in Brussels on Wednesday.

He said NATO helps Georgia “with more modernising their defence and security institutions, implementing reforms”.

That’s the purpose of the NATO presence in Georgia, help to modernise their defence and security institutions”, he said.

Speaking of importance of the Black Sea region he noted that NATO has three littoral countries there: Romania, Bulgaria, Turkey as well as two important partners: Georgia and Ukraine there.

We are working with our partners, both Georgia and Ukraine, in the Black Sea Region and I urge Allies to provide the necessary resources, personnel, to make sure that we step up and provide more practical support”, Stoltenberg stated.

At NATO foreign Ministerial on November 20, NATO FMs addressed a wide range of security challenges in preparation for the meeting of NATO leaders in London.

Georgian FM raises abduction of Georgian doctor by occupation forces with EU, UN, OSCE, NATO top figures
Georgian FM David Zalkaliani who also travelled to Brussels, said he will “maximally use” the NATO ministerial, which is being held ahead of the meeting of NATO leaders in London in December, to show Georgia’s progress on its NATO path during the ministerial and in London next month.

https://agenda.ge/en/news/2019/3160

Top Georgian clerics say NATO, EU are the choice of Georgia while visiting Brussels

https://agenda.ge/en/news/2019/3146

Posted by regdik on the 21st November :-

Just to keep a balance on the board
Aye lads and lasses you’re are all deluded did you not read the mortgage document page 54 the third line down and starts with a d = d for doom I can read and pick out thing others cant see. I’ve (like my mates) have written this off and so should you. You are all cretins for not listening to me or my alter ego’s. I think I will start charging you all for my valuable time.
You all put me into a rage do you not know I’m a star and have lost a fortune like poor 2Mil who cannot remember it was his dad who bought his shares and not his money. Its all your fault because of the stress of you LTH’s finding real facts and not good points like page 56 line 8 or was it 10 – sorry I post so much as its hard to keep track.
No animals were hurt writing this rubbish but we need to balance the good work of the FRR sleuths. I think I will vote for the shorters to keep them happy - not on your life.

Posted by Earsbern on the 21st November :-

Document 21 in Texas case
It's very short, a formality and nothing to worry about. Following ZM's answer to the charge, the court has issued a denial of OMF's motion for default judgement. Nothing else stated.

Posted by theprodigy on the 21st November :-

US Georgian ties
Georgian Defence Minister receives Oglethrope Award for military service from US

https://agenda.ge/en/news/2019/3155

Posted by Oopsi on the 21st November :-

The other intriguing point is why did SN not respond to the claim when first filed and risk default judgment being entered against him when he could have filed a defence in substantially the same form as he has done now. Why wait so long before entering a defence (especially given the personal risks involved)? Something has changed (as with the Californian proceedings). The question is what?

Posted by Oopsi on the 21st November :-

Some legal points
I have made a mental note for some time to go back through the Equitable mortgage as well as the claim filed against ZM and SN. It’s certainly been a topic for discussion of late. I have had a little time today to go through the claim filed by Outrider. Unfortunately, the copy of the Equitable mortgage I have is illegible, so I have had to rely entirely on the claim (in itself not a bad things as it puts the claimant’s position at its highest). I have also read Zaza’s defence which was kindly put on the board this morning.
The defence is simply a bare denial defence. It puts the claimant to proof without advancing the real substance behind the defendant’s arguments. It is, in my view, a pretty poor document which is based on defences of delay, estoppel and res judicata. As the defence does not provide any detail, it appears that the basis of the defence are that the claim shouldn’t progress because of the delay in bringing it, because it has already been determined by a court (not that I am aware of) and/or that Hope has said he wouldn’t enforce against it. The defence also uses the “not in default” argument which from recollection was put forward in the Cayman courts. Without any further explanation in the defence, these appear to be weak arguments.
However, a bare denial defence has all the hallmarks of buying time and it looks like it has until Feb 2020. The fact that Steve filed a defence was unsurprising given that his personal wealth is based in Texas and therefore at risk. Bit more complicated for Zaza as he and his assets (I suspect) are abroad and any US judgment would need to be enforced through the Georgian courts - good luck with that! By the time enforcement comes around, ZM may well have moved his assets around. So ZM filing a defence is in some senses a positive and also buys him some more time.
There has been some debate about whether Hope is seeking shares, cash or a combination of both. The claim makes it clear that he is permitted to seek any/or a combination of these (I can’t verify this against the charge for the reasons given above). Even accepting this, the claim makes it absolutely clear at paragraphs 23 and 34 that ZM/SN can get rid of this claim if they provide the 500,000,000 Pledged Shares in Frontera. Arguments about the legal interpretation of the charge miss the commercial point which others have raised on this board. Why don’t the guarantors just hand over the pledged shares? It’s the easy way out if the shares are worthless and the company defunct. You get rid of the claim in its entirety. There is no issue of judgment being entered against you and the even more worrying prospect (especially for Steve) of risking your personal assets, home, pension etc.. Why would you want to take that personal risk if the shares have no value?

Posted by Chris572 on the 21st November :-

US Support
Natural Gas World: U.S. Lawmakers Introduce Bipartisan Resolution To Support Eastern Europe Energy Independence
November 2, 2019 |

Representatives Marcy Kaptur and Adam Kinzinger sponsored the resolution, which expresses U.S. support for new energy projects that enhance connectivity in the 12 countries located between the Adriatic, Black and Baltic Seas and reduce their dependence on Russia.

The resolution reaffirms U.S. financial support for projects that advance U.S. economic or foreign policy interests.

“Now that Danish authorities have approved the Nord Stream II pipeline, we must now act swiftly to boost the energy security of our European allies by passing this critical legislation as well as sanctioning the pipeline,”

https://kinzinger.house.gov/news/documentsingle.aspx?DocumentID=402191

44. Plaintiff’s claims are barred by the passage of time or laches.
4

Case 4:19-cv-02714 Document 20 Filed on 11/20/19 in TXSD Page 5 of 6
45. Plaintiff’s claims are barred for failure to join Frontera Resources Corporation and Frontera International Corporation as indispensable parties.
46. Defendant reserves the right to amend its Answer to Plaintiff’s Complaint, including asserting any other affirmative defenses, after it has had an opportunity to more closely investigate these claims as it is their right and privilege under the Federal Rules of Civil Procedure.
WHEREFORE, PREMISES CONSIDERED, Defendant Zaza Mamulaishvili, respectfully prays that Plaintiff take nothing against Defendant, that Defendant be awarded its costs and attorney’s fees, and for all such other and further relief, both general and special, at law and in equity, to which Defendant may show himself justly entitled.
OF COUNSEL:
SCHOUEST, BAMDAS, SOSHEA & BENMAIER, PLLC
1001 McKinney Street, Suite 1400 Houston, Texas 77002
Telephone: (713) 588-0446
Fax: (713) 574-2942
5
Respectfully Submitted;
_/s/ Robert P. Vining________ Robert P. Vining Attorney-in-charge
State Bar Number: 24049870 rvining@sbsblaw.com
1001 McKinney Street, Suite 1400 Houston, Texas 77002
Telephone: (713) 588-0446
Fax: (713) 574-2942
ATTORNEYS FOR
ZAZA MAMULAISHVILI

Case 4:19-cv-02714 Document 20 Filed on 11/20/19 in TXSD Page 6 of 6
CERTIFICATE OF SERVICE
I hereby certify that a true and correct copy of the foregoing document has been forwarded to all known counsel of record, in accordance with the Federal Rules of Civil Procedure on this 20th day of November 2019.
/s/ Robert P. Vining Robert P. Vining
6

This bit should be at the bottom of the first of three pages copied by Taffy52 :-

Case 4:19-cv-02714 Document 20 Filed on 11/20/19 in TXSD Page 3 of 6
15. Defendant admits the allegations in Paragraph 15 of the Complaint.

Paragraph 15 of the Complaint.
16. Defendant admits the allegations contained in Paragraph 16 of the Complaint.
17. Defendant admits the allegations contained in Paragraph 17 of the Complaint.
18. Defendant admits the allegations contained in Paragraph 18 of the Complaint.
19. Defendant denies the allegations contained in Paragraph 19 of the Complaint.
20. Defendant denies the allegations contained in Paragraph 20 of the Complaint.
21. Defendant admits the allegations contained in Paragraph 21 of the Complaint.
22. Defendant denies the allegations contained in Paragraph 22 of the Complaint.
23. Defendant denies the allegations contained in Paragraph 23 of the Complaint.
24. Defendant denies the allegations contained in Paragraph 24 of the Complaint.
25. Defendant admits Frontera has filed suit. Defendant denies the remaining
allegations Contained in Paragraph 25 of the Complaint.
26. Defendant admits the allegations contained in Paragraph 26 of the Complaint.
27. Defendant admits that Frontera filed suit in the Northern District of California.
Defendant denies the remaining allegations contained in Paragraph 27 of the Complaint.
28. Defendant admits the allegations of the procedural posture of the referenced litigation. Defendant denies the remaining allegations contained in Paragraph 28 of the
Complaint.
29. Defendant denies the allegations contained in Paragraph 29 of the Complaint that
Frontera is in default. Defendant admits the remaining allegations contained in Paragraph 29 of the Complaint.
3

Case 4:19-cv-02714 Document 20 Filed on 11/20/19 in TXSD Page 4 of 6
IV.
CAUSE OF ACTION
30. Defendant denies the allegations contained in
31. Defendant denies the allegations contained in
32. Defendant denies the allegations contained in
33. Defendant denies the allegations contained in
34. Defendant denies the allegations contained in
35. Defendant denies the allegations contained in
36. Defendant denies the allegations contained in
37. Defendant denies the allegations contained in
38. Defendant denies the allegations contained in
39. Defendant denies the allegations contained in
Paragraph 30 of the Complaint. Paragraph 31 of the Complaint. Paragraph 32 of the Complaint. Paragraph 33 of the Complaint. Paragraph 34 of the Complaint. Paragraph 35 of the Complaint. Paragraph 36 of the Complaint. Paragraph 37 of the Complaint. Paragraph 38 of the Complaint. Paragraph 39 of the Complaint.
V. CONCLUSION AND PRAYER
40. Defendant denies the allegations contained in the paragraph beginning “WHEREFORE, PREMISES CONSIDERED” and all subparts.
41. Defendant denies each and every allegation not otherwise explicitly addressed herein.
VII. AFFIRMATIVE DEFENSES
42. Defendant pleads that Plaintiff has failed to state a Claim against Defendant for which relief can be granted.
43. Plaintiff’s claims are barred by res judicata and collateral estoppel.
44. Plaintiff’s claims are barred by the passage of time or laches.

Posted by Taffy52 on the 21st November

Case 4:19-cv-02714 Document 20 Filed on 11/20/19 in TXSD Page 1 of 6
IN THE UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION
§ OUTRIDER MASTER FUND, LP, §
v.
PLAINTIFF, §
§ CIVIL ACTION NO 4:19-CV-02714
STEVE C. NICANDROS, and § ZAZA MAMULAISHVILI, §
DEFENDANTS. §
DEFENDANT ZAZA MAMULAISHVILI’S ANSWER TO PLAINTIFF’S ORIGINAL COMPLAINT
TO THE HONORABLE JUDGE OF SAID COURT:
COMES NOW, Zaza Mamulaishvili (“Mr. Mamulaishvili” or “Defendant”), Defendant
herein, and files this Answer to the Original Complaint (“the Complaint”) of Plaintiff Outrider Master Fund, LP, and would respectfully show the Court as follows:
I. PARTIES
1. Defendant is without sufficient information to admit or deny the information regarding Plaintiff Outrider Master Fund, L.P. as alleged in Paragraph 1 of the Complaint.
2. Defendant is without sufficient information to admit or deny the information regarding Steve Nicandros as alleged in Paragraph 2 of the Complaint.
3. sufficient
Complaint.
Defendant admits he is a resident of the country of Georgia. Defendant is without information to admit or deny the remaining allegations in Paragraph 3 of the

Case 4:19-cv-02714 Document 20 Filed on 11/20/19 in TXSD Page 2 of 6
II. JURISDICTION AND VENUE
4. Defendant admits there is a diversity of citizenship between the parties to this civil action, but denies the remaining factual allegations contained in Paragraph 4 of the Complaint.
5. Defendant admits that he is a co-founder of Frontera Resources Corporation (“FRC”) and serves as its President and Chief Executive Officer, as well as a member of the Board of Directors. Defendant further admits the factual allegations as to FRC. Defendant denies the remaining allegations contained in Paragraph 5 of the Complaint.
6. Defendant admits that venue is proper in the Southern District of Texas, Houston Division, pursuant to 28. U.S.C. § 1391(b)(2) and that a mediation between FRC and Outrider occurred in Houston, Texas in 2016, but denies the remaining factual allegations contained in Paragraph 6 of the Complaint.
III.
FACTUAL BACKGROUND
7. Defendant admits there was a capitalization in 2011. Defendant is without sufficient information to form a belief in the remaining allegations of Paragraph 7 and, as a result, denies same.
8. Defendant denies the allegations contained in Paragraph 8 of the Complaint.
9. Defendant admits the allegations contained in Paragraph 9 of the Complaint.
10. Defendant admits the allegations contained in Paragraph 10 of the Complaint.
11. Defendant admits the allegations contained in Paragraph 11 of the Complaint.
12. Defendant admits the allegations contained in Paragraph 12 of the Complaint.
13. Defendant admits the allegations contained in Paragraph 13 of the Complaint.
14. Defendant admits the allegations contained in Paragraph 14 of the Complaint. 2

Case 4:19-cv-02714 Document 20 Filed on 11/20/19 in TXSD Page 3 o

3 new court doc Texas

20

Posted by FinnFCR on the 20th November :-

Nov 20, 2019

Main Doc

Answer to Complaint

19

Nov 20, 2019

Main Doc

Request for Entry of Default

18

Nov 20, 2019

Main Doc

Return of Service Executed

Posted by Devex on ii on the 20th November :-

Always amazing to me that a de-listed company with life threatening challenges creates such interest - and that people with pretty obvious short/exposed positions still post relentlessly. Also that despite a complete news black out so much is checked out and so many interpretations are made virtually every hour of every day.

Some of Regdiks posting on LSE has been pretty solid in my view - and his “factbase” (posted by dgfletters) difficult to argue with. Readers will know that I have been invested here since 2012 - and I will confess that through the summer I mentally wrote off my investment. I still have - seeing that it cannot be crystallised - but my sentiment has changed considerably in recent weeks. In a nutshell here is what I think has been going on in the last year or so (and apologies if it just repeats what others may have said):

Last year’s drilling was more - much more - about proving than cash generation. And the fact that such a fight to the death is taking place says categorically that the box is indeed worth fighting for
ZM and co thought they were going to get a partner deal but the Georgians were clearly not going to agree re the PSA issues
A partner deal would have meant that Hope could have been managed. That clearly didn’t work in the required timescale
The partner(s) have said that any deal is subject to the Georgians agreeing extended/new PSA terms (and if no realistic partner prospect existed I believe SN/ZM would have thrown the towel in long ago)
concurrently Hope was initially frozen out of the information loop. Then ZM & Co decide that under no circumstances will Hope get any share of a future deal - other than repayment. Also under no circumstances will he become a significant shareholder.
So the legal actions - both planned and reacting to events - were entirely about protecting the asset and buying time. The lawyers will have advised on the news black out - but ZM & Co also lost faith in shareholders - ie they weren’t which shareholders could be trusted - so better to trust no-one.
the legal and advisory costs ramped up generating extreme cash flow issues
but the only game in town has been to see the arbitration through and progress some sort of deal. Real pain and real people clearly hurt - but that was the price
Lots more - and this is obviously a real fight for survival. But the tenacity is quite remarkable - and the fact that a) no killer blow has ye been delivered - 12 months on, b) that the arbitration process is still clearly progressing c) that US pressure on Georgia remains intense and d) that Hope seemingly still wants shares - all says a lot.

Posted by regdik on the 19th November :-

You wonder why some posters got to great lengths to get their views across. I’m open to reading most views (although I refrain from responding to most). Its interesting the tack they take which is to pick up a point that no one knows the definitive answer and challenges people to oppose their view (Cairns is a good example). Or take a document of many pages comment, terms and conditions and focus on a few paragraphs rather than the total document. To review and read every scrap of information on a share that they say has no value beggars belief unless they have an alternative reason. However, this has its value as others with open minds and balanced views can also read these and come to an educated view. So I hope they keep posting the links so the likes of Oppsi and others can use his trained eye to comment.

Posted by brgmg69 on the 19th November :-

Interesting few enlightening posts, especially when info is put together. Stars posts as of yesterday have a know shorters grubby fingers all over them.

He never invests in much, harasses NOMADs relentlessly validating his bile by saying he’s a Doctor.

One thing for sure however is that the volume of posting shows they are absolutely Shi ting it that this comes back to market or is sold.

They have vastly more to unquantifiably lose and if MP and his calcs are anywhere near the mark their pain will be utterly horrific not only for them but their families.

Thats why they’re desperate to discredit this at every turn.

This dog still has a bark left in it.