Member Info for Madpunter

Posted by Looed on the 27th May :-

RE: FIG
Mole - in your message of 19th may where you laid out the company structure and discussed the FEGL set-up. We also decided FIG was FEGL. Can you recall if you reviewed a document from the Georgian registration site issued 15th November 2019 that showed FEGL was 50/50 split and status was now "not registered" Is this the same as what you reviewed - I am not sure I am reading it right:
Frontera Istern Georgia Ltd.
Limited Liability Company 204905674
5 / 4-1369; 07/08/1997
Vake District Court
Georgia, Dedoplistskaro, Gorgasali St., No15
Email Email:
The person providing the information is responsible for the authenticity of the additional information.
Information on the liquidation / reorganization / insolvency process
Trademark:
Legal form:
Identification number:
Registration number, date:
Registration authority:
Legal address: Additional information:
fegl@fronterarsources.com
it's not registered
Supervisory Board
Partners' Meeting
Governing body
Leadership / Representation
General Director - Zaza Mamulaishvili, 01024002412
Partners

http://public.reestri.gov.ge 1 (2)
Owner share
Fronter Rorsors Georgia Corporation, CR 72227 / USA /
Joint Stock Company Georgian Oil and Gas Corporation, 206237491
it's not registered
Seizure / Prohibition
it's not registered
Share manager
50%
50%
Commitment
Tax lien / mortgage right
it's not registered
The right to pledge / lease movable property and intangible property
it's not registered
Debtors Register
it's not registered

I found a way to list of all the companies and affiliates under ZM on the site and this is the latest entry. I am not sure if it matches what was found using the old way via access codes and clicking on the entities etc - this is all on one page and the headers are all in English, so not sure if its different or the same.
You can access the original version of this document here - https://www.companyinfo.ge/uploads/docs/25254/252541-B19128943.pdf

Posted by Moleinahole on the 27th May :-

Looed got a busy day of work again today so not got time to back check on my home pc at the moment.
The FEGL company can't be not registered it's been around since 1997. When you look at that site not registered on a lot of entries just means no entry recorded on a particular line you might be looking at .
That is however the entity that will get liquidated if we loose the PSA as it is the operating company for the fields in Georgia and the one that FRR have tried to move the 50% shares the group held into controll of FRR US rather than Frontera Caucasus which FIT gained control on default of the mortgage.
From memory was the nov document a request for an official extract from the registry by someone.

Posted by Looed on the 27th May :-

Thanks Mole - here is the link that shows ZM's affiliations. Not sure if it helps. I don't think the deja files are here but I am still going through

Posted by bugsy-b on the 26th May :-

Georgia negotiated 15% gas price reduction with Gazprom
"I will not give specific figures to you on the basis of the commercial secret but I would like to say that the natural gas price will be lowered approximately by 15%," Turnava said"...

Sugar coat it all you like Turnava... You are still dealing with the country that currently occupies 20% of your country..

https://tass.com/economy/1160463

Posted by Ivyspivey on the 26th May :-

Atlantic Council report 2019.

https://www.atlanticcouncil.org/wp-content/uploads/2019/06/European_Energy_Security_and_Transatlantic_Cooperation.pdf

2 upcoming events to discuss above issue abd new report to be released on Thursday

https://www.atlanticcouncil.org/event/report-launch-european-energy-security-and-the-critical-role-of-transatlantic-energy-cooperation/

Posted by Chris572 on the 26th May :-

George Kent, Deputy Assistant Secretary of State for European and Eurasian Affairs
US DEPUTY SECRETARY OF STATE REMEMBERED GEORGIAN AUTHORITIES THAT SHE REPORTED TO US CONGRESS AND HAVE NO RIGHT TO COME WITH AMERICAN COMPANIES AS HAVE COME FROM FRONTERA
Georgia, May 25, GEORGINFORM. On May 22, George Kent, Deputy Assistant Secretary of State for European and Eurasian Affairs, gave an exclusive interview to Badri Patarkatsishvili Imedi, who died in his castle in foggy Albion under foggy circumstances.

“The Congress in the USA has a supervisory function, so when it raises questions - how is one or another program funded from its Congress approved, it has the right to get an answer! When questions or concerns arise about the investment climate in Georgia and the rule of law, it is important that we discuss these issues together as friends! Of course, we want the Georgian economy to flourish and we think that American companies should play a role in this. We were also facilitators in the political dialogue between the parties, which ended with the March 8 Agreement. The first part of this Agreement is devoted to the rules of the game, and the second concerns the cases of politicians in judicial proceedings. I think that it is important for both parties to fulfill both conditions of the Agreement, ”George Kent, in particular, told the Chronicle information program journalist.

http://ru.saqinform.ge/news/45115/zampomoSnika-gossekretarA-sSa-napomnil-vlasti-gruzii-Cto-ona-podotCotna-kongressu-sSa-i-ne-imeet-prav-postupati-s-amerikanskimi-kompaniAmi-tak-kak-postupila-s-Frontera-.html

Posted by Aurora1 on the 26th May :-

This was the title after translation

American companies are being persecuted, we have staged performances, there have been attempts to sabotage - Zaza Mamulaishvili

Posted by Earsbern on the 26th May :-

Noticed that at about 10.40, ZN mentioned KPMG a couple of times whilst chuckling. Quite reassuring, I thought.

Posted by DomFok on the 26th May :-

Zaza Studio interview
https://m.youtube.com/watch?v=OolDu7G51YQ

Posted by Moleinahole on the 26th May :-

First to make this clear Steve and Zaza are clearly aligned to shareholders as captains and significant owners of the good ship frontera. We are passengers and part owners.
A successful frontera rewards both the captains, the shareholders and the crew. So we are aligned through mutual interest.
Does that mean the captains have always made the best decisions and may have taken considerable risks on this journey that as shareholders we were not aware of before embarkation?
Yes in my opinion they have. That is more a question of competency than trust. But without knowing all the constraints the decisions were made under its hard to determine whether that was the right decision or not at the time. The point I would make is how we have ended up where we are while not unimportant to not nearly as important as what course of action is planned from here.
If the boat is holed below the waterline there may be no option to save the ship.
However, the captains may have planned a rescue mission with 1% of the cargo to salvage something fro. The situation.
The problem is that even having salvaged 1% the company still has loans it used to buy the ship that is not sunk and the 1% needs to cover those costs.
So we are aligned but that does not mean mistakes potentially very costly one have been made.
As for KPMG there job will be to audit the accounts and looking for items that cast uncertainty on them and in particular the balance sheet. The arbitration is of interest mainly due to the potential liabilities it could generate. That will be there focus. I doubt they are interested in the PSA per se. It would appear from some of the statements that the cost of the arbitration was shared in full or part and the Georgian side stumped up some funds when FRR declined to do so. That would make FRR now a debtor (an asset) to GOGC until any liability was settled. What makes this complicated is that you have both GOGC and the SAOG involved as entities. You need to see the very slight differences between the two parties. GOGC proving material breach is what potentially enables SAOG to terminate the PSA.
Alot depends me on whether the ruling explicitly covered the matter of the full PSA and termination or not. I tend to reconcile the two through Zaza possibly looking at the arbitration but SAOG going beyond the arbitration and back to their rights on material breach once GOGC had fought the arbitration case on sub clauses of the PSA.
Both parties can't be right. But given FRR believed they could circumvent the relinquishment clause you have to be nervous that they have miscalculated on the termination clause.
I still of the view the SAOG had the discretion unless explicitly ruled on in the arbitration to terminate. Exercising that was a calculated political move in my opinion. There may well be more to this and so something else to be revealed. If so its going to be interesting if there is. If not the company will lose t

Posted by StarRage on the 26th May :-

RE: Ironic
Zibrahimovic, first a few inaccuracies in your missive

a) It's over - I wrote an apology on here for that but you choose to ignore that fact because it doesn't suit your agenda. Sound familiar?

b) I disappear when there is a rebuttal - lol, I was otherwise engaged when that first appeared and whenever something like that appears I find it best to let the orgasmic frenzy die down for a bit before trying to engage anyone in anything approaching a realistic appraisal of the facts

c) You think this board should just be for posting information that gives people hope? Sorry, it's not the Samaritans board, people shouldn't invest if they can't deal with facts that don't bode well for their investment.

d) I read the email and bought more - you need to check your facts properly. I bought more on the Friday after posting and digesting SN's affidavit and I posted my buy order for all to see. The facts around the loan notes I only saw and posted on the Saturday, as I have made clear previously but again it suits your agenda to twist what I said.

e) PJOHN and yourself have both been personally abusive to me and both threatened me with physical violence, so apologies if I don't share your crocodile tears.

e) you berate me for posting only negative aspects (there are a lot even you must admit) but you never criticise people for only posting positive aspects, even if they are fantastical. So it's clear you are not being balanced.

Posted by Zibrahimovic on the 26th May :-

RE: Ironic
Lol...

The bully here is Nigel Starage and his shoving of opinion as FACT when it is his often horse bolted tomes on here that have been proven to be false. Remember ' Its over' as a thread OP? That was 18 months ago but he's still here jumping in as soon as bad news often Russian agenda articles are posted and disappears as soon as there is a rebuttal often by our CEO On live TV no less. He posts in such a way that pushes buttons of the likes of PJ who himself has stated on here his sometimes mental fragility due to the stress of this share but he belittles him regardless. He's the bully. Posting twisted half truths as fact knowing many posters come here hoping to find the slightest chink of light in the belief there is even 1% chance of the company not failing...

Most of us accept that we've been lied to, cheated of the facts especially around the mortgage and had we known that then at the last rise would have altered their exposure here.

We made our choices on a false premise. Nigel says he read that email and bought more?? Come on seriously? This is a guy into gilts and bonds. This is a guy who took on the NOMAD and won but now cannot talk about it as he's under NDA But continued to tell us.

He posts in a highly manipulative and threatening manner in a very subtle way to increase tension on the board and to steer the narratives into the most negative scenarios.

It doesn't look good for us here and any positivity is crushed by the same posters hour by hour. Yes there are positive posters like Ivy who tries to be balanced on both sides to bring debate and thought whereas our resident know it all troll and bully of an old fragile man who takes great pleasure in goading and questioning his capacity on many levels is the worst kind of malevolent poster. The irony is he can't even see it. Plonker.

Posted by R8pilot on the 26th May :-

RE: KPMG
So out of all of the 14 points raised in the arbitration award, the best KPMG can state are the mineral tax and court costs owed. .... nothing else?! Zaza announced on a live interview that the GOGC won 2 awards but failed to win the remaining 12.
Stay focussed on the main prize which is the 1% of B12 and not the unwanted waste land. The validity of terminating the whole PSA after the arb for this 1% has been covered by more knowledgeable posters than a petulant fool who states he took Carin to court.

"On 17 April 2020 the arbitration tribunal rendered its final award as to the matters in dispute. The arbitration tribunal has upheld the Company’s and SAOG`s interpretation of the PSA as it defines the parties’ respective rights and obligations. Among the issues decided by the Arbitration Tribunal, it ruled that the respondent - Frontera committed material breach of the PSA by its refusal to relinquish and return to the State the exploration area. According to the award Frontera and Frontera Resources US LLC are obligated to reimburse the amount of the mineral usage tax paid by the Company on behalf of Frontera as well as the costs incurred by the Company with regard to the arbitration proceedings. The arbitral award effectuates withdrawal of and dismissed the counterclaims that had been filed by Frontera. The arbitral award is final and binding on the parties, in accordance with its terms and the PSA."

GLA

Posted by Zibrahimovic on the 26th May :-

RE: KPMG

https://www.marketwatch.com/story/the-kpmg-cheating-scandal-was-much-more-widespread-than-originally-thought-2019-06-1

https://www.theguardian.com/news/2018/may/29/the-financial-scandal-no-one-is-talking-about-big-four-accountancy-firms

https://www.retailgazette.co.uk/blog/2020/02/calls-for-watchdog-to-review-kpmgs-53m-ted-baker-accounting-scandal/

https://www.wsj.com/articles/ex-kpmg-partner-sentenced-to-a-year-and-a-day-in-steal-the-exam-scandal-11568217009

KPMG are no different to Hogan Lovell...they are both paid for services that quite often those industries distort the truth for their clients so let's not bet 100% they are correct as theatres literally thousands and thousands of accounting scandals and lawyers getting their clients off crimes they've committed

Posted by Johnnybbad on the 26th May :-

KPMG have made many mistakes in many different companies, so anything they say, I would take with a thimble of oil, or pinch of salt. Look how many companies in the last twenty years that they have audited and have their statement that all is well and is a good chance of being a going concern, only to go bust shortly afterwards. They will say whatever their paymaster want them to say but their caveats at the end mean any auditors final statements are meaningless.

Posted by EkXoc on the 26th May :-

SR can you explain why to hold KMPG in such high regard?
When they have been recently finded for gross miksconduct?

KPMG fined £5m over ‘exceptional’ breach in BNY Mellon audit
https://www.ft.com/content/dcf5f184-ad64-11e9-8030-530adfa879c2

Seems it was the fifth time in 15 months they were fined.. they are obviously a great bunch of lads I would trust them to the ends of the earth

https://www.telegraph.co.uk/business/2019/08/01/kpmg-fined-5m-failings-bny-mellon-reports/

Posted by Zibrahimovic on the 26th May :-

Ironic
That Nigel is arguing for the validity of an accounting firms sign off, when that is exactly what our accountants did whilst failing to mention the mortgage that has fecked us all over unbeknown to us with the exception of Mole who before delist couldn't square the financials because he was certain there was something amiss but couldn't find out what until it floated to the surface unannounced by our auditors....

Posted by ActionPotential on the 26th May :-

That is assuming they have signed off on that statement. My view is that is a management representation which they will have signed off on, not KPMG. KPMG will, wherever they can, disclaim responsibility.

Posted by ZiggyZag on the 26th May :-

They have signed off that what they have written is a true reflection of what GOGC have told them .

In my position I am interviewed each year by auditors ( who are a sizeable firm ) with questions that cover many issues including litigation . Never been asked to verify what I have told them & they cover themselves with disclaimer.

Posted by Earsbern on the 26th May :-

Looed - I do not doubt your sincerity, and value your time and your research. I separate you entirely from SR, whose absence would benefit the objectivity of this board whilst also raising it's general standards.
What does annoy me, though, is the way so many contributors here take a negatively forensic scalpel to any pro-FRR reports (from ZN interviews, B_2_0, etc.), whilst unquestioningly accepting any negative reports from GOGC, GG, lawyers (even active professional supporters of our opponents!), media reports - often from a well-supplied (usually?) Russian or GD base) - and, yes, venal auditing companies.
It's a pity that SR has been dirtying our waters again, because I have to restate that this is not intended as a serious criticism of you, Looed. We need objective reporting here, and I think you provide that whilst trying to see all sides of any question. Thank you for your efforts - please keep up the good work.

Posted by Sheff67 on the 26th May :-

JV123.. agree 100%. Last week or so SR and Looed have started to act like a tag team for self congratulating their own importance.. Looed started ok a few weeks ago with useful information but now he seems to be following SRs arrogance with repetitive boring detail. SR appears at point of orgasm every time he posts something. God help us end of July..

Posted by pophead on the 26th May :-

I suspect that Looed does not realise he is in a tag team with a person whose research is motivated by a desire for FRR to fail.
Looed is providing tome fantastic information and without a doubt it is clear in his statements and posts that he shares a hope that this can come good for us. SR also is a fantastic researcher but the same cannot be said for sharing the hopes of this coming good for us all. What really turns people againt SR is the sometimes expression of pleasure when the big news items drop that appear to point to the end.

Posted by Looed on the 26th May :-

I see by the number of "ticks" that many assume I am full of my own importance - I assure that is not the case, far from it. There aren't too many out there who spend the hours it takes to search multiple sites and sources. Even worse to be criticised by people who never search for anything. So, it does make me question the value to me in carrying on. Hopefully others can pick up the search and continue to search what is out there. Hope this comes good and soon and to everyones satisfaction.

Posted by Jv123 on the 26th May :-

Looed - we all appreciate your input but don’t go looking for accolades - you do it because you want to do it , not because you want to save us all from despair. Stop looking for the people’s vote - it’s pretty pathetic.

Everyone of on here should be desperate to see FRR come good - there’s a lot of money (and more) at stake so that should be remembered when we post. Gloating or appearing to be pleased when presenting negative information doesn’t sit well with many - so bare that in mind ......Starman!

Posted by ActionPotential on the 26th May :-

My views on the KPMG report (and indeed any audit):
1) One single set of accounts can be presented in many different ways. We have often seen many accounts presented "creatively"
2) KPMG will have got management sign-off for their own protection. i.e. management will take responsibility for those sections that are opinion based.
3) The statement that is being referred to is in the 'Contingency' section. There is an obligation on the auditors to include possible future events. There is no guarantee that those events will come to fruition.
4) How many accounting scandals have we seen where accounts were not presented to reflect reality. I'm not saying this is the case here, but I would not paint them in a light that they never get things wrong.

Posted by Looed on the 26th May :-

RE: GOGC 2019 Audit Report
After doing some comparison, the KPMG statement (the last part that begins "On 17th April 2020...") is very similar to the statement on the GOGC website dated 21st April that announced the Award. Some wording is different, but large chunks of it are the same.

You can take a look here - https://www.gogc.ge/en/article/frontera-gogc-the-international-arbitration-tribunal-rendered-its-final-award-/479

Does (100%-1%) + Zaza talking = 0% ?
We have been discussing why Zaza has been talking to the press and not to us lot. I decided to try to think of this communication in a different way.

The GOGC statement of 21st April announcing the Award ( the one that is used in the KPMG audit report) talks in terms of "vast majority of claims" and the "99%", though those bits are now missing from the KPMG report.

29th April - We get the first statement from FRR, though possibly not from Zaza and says things like "brutal and unsuccessful tactics of the Georgian government." It seems to be a press release from USA. The article doesn't mention the termination..

29th April - GOGC issue the statement announcing that the termination had already been issued on 27th April. It still talks about the "99%"

30th April - Zaza starts his media blitz with all the familiar "I'm right they are wrong" claims.

7th May - GOGC make a statement with (I believe) a change of tone, or perhaps a clarification of the issues and states the termination applies "in relation to the whole contract area" and that the asset move was illegal. No more talk of 99%.

Guess it depends on if you see ZA as calm, assured, in a 'of course he's right' sort of way or its a last roll of the dice from someone who overplayed his hand and / or underestimated the opponent. But after endless attempts to agree terms did Zaza talking = GOGC walking?

Posted by StarRage on the 26th May :-

Looed, so as well as Hogan Lovells we now have one of the big 4 international accounting firms happy to publish GOGC’s version. Not a hard choice to make about which version to believe imo

Posted by R8pilot on the 26th May :-

Are you suggesting KPMG have seen the arb results ?

Posted by StarRage on the 26th May :-

Yes. They are an audit firm. Their job is to independently verify the accounts and there is no possibility they would include that statement without validating it.

Posted by Looed on the 26th May :-

GOGC 2019 Audit Report
The audit report, prepared by KPMG, contains the following statement -

"Litigation
Frontera case:
In July 2018, the Company and SAOG (State Agency of Oil and Gas) submitted their statement of claim against Frontera Resources Georgia Corporation (Frontera). SAOG and the Company inter alia are claiming that Frontera has materially breached certain provisions of the PSA (profit sharing agreement) including but not limited to the relinquishment of approximately 99% of the Contract Area. Apart from this the Company and SAOG are seeking reimbursement of damages including a monetary compensation for the breach of oil sharing and relinquishment obligations and reimbursement of the natural resource enjoyment fee which was paid by the Company and never reimbursed by Frontera.
In September 2018 Frontera made a counterclaim, claiming USD 3.5 billion as lost profits for the period 2012 through 2027 for certain alleged breaches of the PSA by the Company and SAOG. The Company and SAOG have considered the counterclaim to be without merit and contested it vigorously. In addition to the claim for the lost profits, Frontera asserted a claim for taxes (VAT and excise tax) in amount of USD 3.5 million and claimed for legal costs allegedly incurred in obtaining land access to Block XII in the amount of USD 74 thousand.
In 2019, Frontera applied to the arbitration tribunal with a statement on voluntarily withdrawal of the counterclaims. The Company and SAOG objected Frontera’s request but later withdrew their opposition to the proposed withdrawal.
On 17 April 2020 the arbitration tribunal rendered its final award as to the matters in dispute. The arbitration tribunal has upheld the Company’s and SAOG`s interpretation of the PSA as it defines the parties’ respective rights and obligations. Among the issues decided by the Arbitration Tribunal, it ruled that the respondent - Frontera committed material breach of the PSA by its refusal to relinquish and return to the State the exploration area. According to the award Frontera and Frontera Resources US LLC are obligated to reimburse the amount of the mineral usage tax paid by the Company on behalf of Frontera as well as the costs incurred by the Company with regard to the arbitration proceedings. The arbitral award effectuates withdrawal of and dismissed the counterclaims that had been filed by Frontera. The arbitral award is final and binding on the parties, in accordance with its terms and the PSA.
Currently, the Company and SAOG are considering further steps aimed at enforcement of the award and implementation of the rights and remedies granted under the PSA."

Source - https://www.gogc.ge/uploads/files/5ec798fc4160c.pdf

Posted by Gipps51 on the 25th May :-

Sadly that does make sense. I think about 600-800 million were offloaded Sept -Dec. The options of who the big seller was is limited . If it was Zaza and SN they held 2.7 billion between them why not keep the company trading on the stock exchange and clear a hell of alot more as they would still be left with about 2 billion on christmas eve if it was them.

Perhaps the NOMAD got wind of who the big seller was

Posted by Flakey5185 on the 25th May :-

According to Reuters, at the time the large selling was happening there was an ii holding circa 600 mil shares!

Posted by StarRage on the 25th May :-

Gipps, I think that's unlikely. The Nomad resigned after the court papers were published over the weekend so most likely it was something contained in there. The obvious thing was that the court papers showed that the Nomad had been unaware of the conditions of the loan notes which had been misrepresented in the RNS.

Possibly Flakey, but a big coincidence if that was the case, unless they had got wind of the default. Possible though.

Posted by Zibrahimovic on the 26th May :-

Nigel
Starage..care to point us to your previous posts saying Zaza was the seller? I'd like to see those in the spirit of fair game and lawsuits...

Thanks in advance.

For those bullying PJ you should be ashamed but then again you probably think Dominic Cummings is Mother Theresa.

Big seller
Might have been Hope... Getting rid of the evidence of shorting.. It works both ways. Especially as they started after YA being caught short lol...

Posted by StarRage on the 25th May :-

As previously posted I always thought ZM was the seller. Only those in the inner circle knew that they were likely to default on the interest payment and hence what that would do to the share price when it leaked out. Even being generous, and he was selling shares to shore up FRR finances, I still can't see any other plausible seller at that volume, and reassuring shareholders would have been an obvious thing to do (for the unscrupulous)

Posted by Gipps51 on the 25th May :-

RE: Anyone understand the reference to 2022?
Your welcome Looed,

Zaza must have his reasons why he has not spoke directly to us. I'm sure he has been advised legally not to do so. Perhaps Oopsi would have an idea.
If he spoke to us shareholders directly that would have to be in an official capacity as the CEO and everything he said would need to be backed up . When he speaks to the media he has more of a free hand to speak his mind , I'm just thinking out loud . I might be way off.

There is a reason though and we have to respect his handling of the communications. He obviously knows that anything he says gets back to us anyway.
Mole said he is aligned with us and we have, atm to put out trust in him .

Thanks for the reply about the Arbitrators not cancelling the PSA . They were not asked to make a call on that . The GG have taken it upon themselves to do that. The next litigation will be a challenge to the cancelling of the PSA which will take us through the election in October and hopefully a change at the top.

On another note I was in touch with the reporter Luka up until about three weeks ago when he cut contact as he had a strop apparently about what was said on the BB.

My opinion now looking back was he wanted me to give him ammunition to write an article that enabled him give a shareholders view detrimental to Zaza that he could print .

Thanks for all you do and post.

Best wishes .

Posted by Jon_Boy on the 25th May :-

FRR Subsidiaries
Come across the below, not sure if it's of any use as its a bit old. Worth a read if you've not got much on today.
https://www.ebrd.com/work-with-us/projects/psd/frontera-resources.html

FRR History lesson
Interesting article regarding the history of FRR
https://jacobinmag.com/2020/03/frontera-resources-georgia-republican-congressmen-russian-interference

Posted by Gipps51 on the 25th May :-

RE: Anyone understand the reference to 2022?
Well there is no doubt that what we have discovered in Block 12 is worth fighting for.
Zaza made it clear at the last meeting in October 2018 that Super Majors had been on the scene a very long time and that they seemed only to have to cross the Ts and dot the I s.... fast forward to April 2020
Zaza seemed to communicate in one of his interviews that 5 American companies had verified 30 TCF over a period of 18 months . That's worth billions . Anything between $1 billion and $3 billion a TCF.

Any super major involvement or offer would definitely have been in the arbitration documents . That for me is why Zaza does not want to release the findings of the arbitrational panel. That would only damage our position , the SM could walk if we broke any NDA and come back with the same deal and deal with the GG and we are cut out. The GG could even sweeten any deal .

Theres no way Zaza could release snippets of the arbitration to support us. It would be an all or nothing situation . That's not going to happen.

We have spent over half a billion dollars over 23 years probably proving up billions in assets. Would the arbitrators say we deserve nothing ?

Theres no way the arbitrators would have said the GG can cancel the PSA , that's the GG going for the jugular. Could it be they have done that to force a deal with FRR ? They know further litigation would be on it's way with years more delay to any financial benefit if they dont come to the table at some point.

Its clear Zaza is aligned with us . It's his lifes work , he is a man of the people and is fighting like crazy.

This has some time to run yet. Probably past any election which is scheduled for October.

Just some layman's rambling thoughts , not in any particular order.

Thank you Looed and I'm sure everyone is delighted that Mole is back .

I miss the Puddy swingometer !

Good luck