Posted in: commodities-and-mining
RE: Frontera Archive31 Jul 2020 09:17
Posted Looed on the 30th July :-
Translation #24 Business Media Georgia with Zaza, 28/07, 8m11s
(We should have received #25 first, I am checking when we will get #25 and let you know)
Pt.1
J1 - American energy company "Frontera" publishes another statement. The company said in a statement that a few days ago, when the Georgian government announced that it would not suspend its contract with the company, the company was informed that the government would again try to suspend the contract with the it. Zaza Mamulaishvili, President of “Frontera Resources Corporation” joins us live. Mr. Zaza, welcome. Thanks for your time.
Zaza - Greetings
J1 - Mr. Zaza, the recent controversy between Frontera and the state, between the Gas and Oil Corporation, is in the mode of statements. There is literally no dialogue between these two sides. It may also be difficult for the public to draw conclusions because, for example, the Gas and Oil Corporation urges you to make the arbitral decision public. Why not make this arbitral decision public?
Zaza - You mentioned that very well. The Georgian government has chosen a special form of relationship with us, especially since we have been working in Georgia for 23 years and today our company is the largest American investor in Georgia. However, since such a form was chosen by the government to communicate with us, we also respond accordingly. As for the publicity of the arbitral decision, we certainly are not and have not been against this publicity. Even now I can call on the representatives of the state from this broadcast that if you want today, you want to meet tomorrow and publicly announce the decision of the arbitration, which is very clear and it is not necessary to be a lawyer to fully understand the content of this decision.
J1 - Mr. Zaza, we need the consent of both parties, in this case, when we had a conversation, for example, with the other party, we were told that we need the consent of Frontera to make the decision public. The latest statement, by the way, said that the silence on the part of the company could be seen as a sign of consent. That is, you agree to make this decision public.
Zaza - This is a very interesting legal formulation that our silence can be seen as a sign of consent and then made public. This is a vague wording and I can not comment on it seriously. But as for our formal consent, as we have said many times before, I would like to reiterate now - we are not against the announcement of this decision, but it must be done after the relevant legal procedures. And, what I mean by that - a decision contains a lot of technical, commercial, financial and personal information that may not be desirable for other parties to disclose. We legally agree with all stakeholders on this and probably this process will still take probably 10 days or 2 weeks.