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Posted by Looed on the 10th May :-

News Round-Up
USA & EU love-in continues -

"US provides $3 million to support Georgia’s coronavirus response" that should read an additional $3m https://agenda.ge/en/news/2020/1455

"Georgian PM: EU first to help Georgia in fight against COVID-19"
https://menafn.com/1100140804/Georgian-PM-EU-first-to-help-Georgia-in-fight-against-COVID-19

"Is the pandemic a chance for the ruling party in Georgia?" (spoiler alert - article claims "yes")
https://jam-news.net/georgia-politics-coronavirus-sharashenidze-kakachia/

"President Zourabichvili: Despite Crisis, Georgia-NATO Future Plans Not Delayed"
https://www.president.gov.ge/eng/pressamsakhuri/siakhleebi/saqartvelos-prezidenti-globaluri-krizisis-miukheda.aspx

And we finish with a piece from March 2019. Partly because the title says it all and its sadly similar to FRR story - investment shenanigans, arbitration (its grim, not for the weak-hearted)

"Georgia is an investor’s graveyard masquerading as a business utopia"
https://www.neweurope.eu/article/georgia-is-an-investors-graveyard-masquerading-as-a-business-utopia/

Posted by regdik on the 9th May :-

A lot of ping pong posts on points of law/contract/PSA/Arbitration rulings that non of us have ben privy too.
All we know is that a 152 page judgement has ben logged with both parties that is binding.
One party once to release (GG) the other is reluctant due to certain content that they infer requires third party approval (FRR). However, FRR have proposed a joint (therefore managed) release of the document that we can assume protect sensitive commercial issues.
The Arbitration judgement sits above the PSA in law - however, may contain caveat and rules that are binding on both parties.
The Arbitration judges are independent to both parties but they can nominate one from the approved panel of judges qualified to act on this area.
The judges will look at the PSA and seek representation (interoperation) from both parties and seek clarification (which is the additional submission after both parties reviewed what the other submitted). Then the judgement was submitted.
Were the Arbitration judges required to look at the PSA for development, operation or both (if the were legally separate).
If they were legally connected then the judges would look at both and make a ruling.
If not they would only rule on the disputed claim.
This begs the question if they were separate then FRR have the legal obligation to create a separate Arbitration case (and new CC) on the land grab of the 1 or so %. They are either linked in law or sperate entities therefore, FRR have the right to appeal and create a new Arbitration case. The reason I’m stressing this if they were linked then these judges would have taken into consideration the prospect of the breach on the operation licence.

There is 152 pages of unknown here and all we see is opposing views hence we have very few facts to base any real assumptions on. But nice to see FRR are still fighting there corner (give a little hope).

Posted by Looed on the 9th May :-

PJohn - I assure you I am not "seriously dangerous and twisting things" Its printed on the GOGC homepage - "The Arbitration Tribunal also ruled that Frontera’s attempt to transfer the contract to its affiliated company (Frontera US) was illegal."

I don't think we ever saw proof the move was approved - did we ? We assumed (as did I) it took place in a small window after Hope left. As we heard nothing to the contrary we assumed the GOGC approved it.

If you are accusing me of being part of the Georgian media I really do give up of wasting my time here.

Posted by Moleinahole on the 9th May :-

Indeed Looed.
There are two dangers here. Firstly, that the arbitration has given the State the option of terminating the contract due to material breach. As I have said I believe that could well be legally correct but I caveat that by saying it could also have been addressed in the arbitration.
Then we have the overt mention of the transfer. It's not impossible that GG cease dealing with Frontera and start with FTI. My read of the real PSA excerpts is that they could not block an internal transfer. However, the risk to the transfer is the mortgage terms and Outrider.
If there was something in the arbitration around solvency or the transfer that would be a prime reason you would not want it published. If you go back to 2017 the GG were commenting FRR did not have the means to develop the block and this was before the arbitration. The declaration of the study area as the exploration expired is what triggered the arbitration.
FRR then trying to withhold mineral license fees as a counter to get the $6m vat back has added a second line to the arbitration. Understandable given FRR finances but probably unwise.
I take the view that FRR remains in serious peril here both from loss of the license and Outrider until I see objective proof that not to be the case.
Off out to enjoy the sun in the garden now.

Posted by StarRage on the 9th May :-

Ivy, that's exactly how I see it. The arbitration was about the 99% that was not returned. The arbitration decided that was a material breach. The PSA says that in the event of a material breach the GOGC can terminate the contract. The GOGC have done that. Personally I think this will end up with Frontera taking it to court, as they love to do, to see if the ruling of the arbitration overrides the PSA wording, which no one can be sure about. The other aspect to this is that, because the arbitration ruled the transfer illegal, we should maybe see some action in the New York court, as the asset could then well end up back under the control of the administrators, and we know who the biggest and first line creditor is!

Posted by Cf73 on the 9th May :-

RE: Are we sure the 1-ish% is still in play?
Looed, thanks for your response. The first of those statements says,

"1- GOGC Statement 21/4/20 - "Frontera Resources Georgia Corporation committed material breach of the contract by refusal to relinquish and return to the State the exploration area, which represents almost 99% of the entire contract area."

Why are they going back on that? Or rather, why are they simlply not mentioing it again? After all, that statement, which is the first of those statements, still comes after the findings of the arbitration. GG cannot go against or undo the findings of the arbitration without serious concequences. We need to remember, as worrying as they may be, these are the statements of a corrupted GG and not the necessarily findings of the arbitration.

What FRR need to do is calculate whether or not GG will make an illegal grab. They can nip in the bud by simply releasing a redacted version of the arbitration of outcome. The finer details, specifically, the sensitive stuff, doesn't matter here. Just the key findings.

If the matter is in their favour, why on earth have the GG been parading around in the press and media?!

What is clear to me certainly is that we in a better position than would've seemed a month or two or three ago. Who knows if we are out of the woods. The main reason we continue to be worrried is because the GG are saying things and not because we have the defnitive findings of the arbitration in front of us. But we happen to be still well in there, fighting.

Posted by Looed on the 9th May :-

Are we sure the 1-ish% is still in play?
1- GOGC Statement 21/4/20 - "Frontera Resources Georgia Corporation committed material breach of the contract by refusal to relinquish and return to the State the exploration area, which represents almost 99% of the entire contract area."

Source - https://www.gogc.ge/en/article/frontera-gogc-the-international-arbitration-tribunal-rendered-its-final-award-/479

2- GOGC Statement 29/4/20 - "The Arbitration Tribunal ruled that “Frontera Resources Georgia Corporation” committed material breach of the contract by refusing to return the exploration area (99% of the entire licensed area) to the State, which gives the State right to terminate the contract."

Source - https://www.gogc.ge/en/article/agency-sends-termination-notice-to-frontera/480

3- GOGC Statement 7/5/20 - "The contract will be automatically terminated on July 27 2020 in relation to the entire contract area . Frontera is obliged to bring out the necessary steps in order to return the licensing block and rectify severe environmental conditions"

That reads like the GOGC are taking back 100% of the PSA ?

Link for statement 3 - https://www.gogc.ge/en/article/-frontera-refuses-to-disclose-the-arbitration-tribunal-award-and-keeps-spreading-false-information/481

RE: No netgazeti.ge article?
From Netgazeti and not about FRR but about USA supporting Georgia

"The United States will donate 27,000 tons of wheat to Georgia" which is apparently a big deal. The graphic on the article is the USA and Georgian flags side by side.

Source - https://netgazeti.ge/news/450934/

I found this in a long article about arbitration in Georgia -

"....the award, regardless of the country where it was rendered, shall be binding, and the Georgian courts may refuse to recognise and enforce the award only on the basis of specific limited grounds. Those grounds largely track the grounds set forth in the New York Convention and the Model Law. See LGA, articles 39(2), 44, 45.[47] Courts of appeals have jurisdiction to enforce the awards rendered in Georgia, and the Supreme Court of Georgia has jurisdiction to enforce the awards rendered outside of Georgia. See LGA, article 44(1).[48] No statute of limitations is provided for seeking recognition and enforcement of an award."

Source - https://globalarbitrationreview.com/insight/the-european-arbitration-review-2019/1175845/georgia

GOGC accepted the award (as did FRR) so this seems an opportunistic move to twist the result. We could end up back to court or arbitration again if that is what is going on.

Posted by keysersoze on the 8th May :-

Possibility of bringing large corporations over??

08 May 2020, 22:10 / Reliable source

Archil Talakvadze discusses the situation with the US Congressmen regarding Koronaviru and the 2020 elections

The Speaker of the Parliament Archil Talakvadze discussed the situation with the US Congressmen regarding Koronaviru and the situation in the occupied territories and the parliamentary elections scheduled for the fall of 2020. He wrote about it on Facebook.

"I talked to American Congressmen Alex Mooney and Andy Harris. We discussed the situation with COVID19, the social and economic programs of the post-crisis period and their financing, the possibility of bringing large corporations and enterprises to Georgia, the situation in the occupied territories and the planned parliamentary elections in the fall.

Alex Mooney and Andy Harris represent the Financial Services Committee of the U.S. Congress, which is responsible for funding various areas and partner countries. I thank Congressmen for their support. I think a useful conversation has taken place for our countries, ”Archil Talakvadze wrote.

Posted by keysersoze on the 8th May :-

Ukraine and Frontera both mentioned by KK

28 April 2020, 20: 21 / Reliable source

According to Kakha Kaladze, imposing Mikheil Saakashvili on any post will be an insult to Georgia and the Ukrainian people

Kakha Kaladze

The Mayor of Tbilisi spoke about the possible appointment of the former President of Georgia as the Vice-President of Ukraine. According to Kakha Kaladze on "Palitranius", Ukrainian and Georgian politicians should take care of the friendship between the two countries.

"I have repeatedly had to make a statement on this issue and I will repeat once again that the Georgian-Ukrainian friendship is permanent and it is impossible to question it. The fact of Saakashvili's candidacy can be assessed only after its official confirmation, as no official statements have been made so far. However, one thing is clear - we politicians are first and foremost committed to taking care of the values ??that bind these two countries together. I have said before and I repeat, I hope the Ukrainian government will make a decision that will contribute to the strategic partnership between Georgia and Ukraine, "Kaladze said.

According to him, many people involved in politics have recently revealed their real faces while talking about this topic.

"For example, today we heard a sharp critical statement that in case of Saakashvili's appointment, the Georgian government's challenge to the ambassador from Ukraine will be extremely irresponsible.
All this reminded me of one case when the same people who made the above statement today directly welcomed the imposition of sanctions on our strategic partner by the United States for Georgia because of a company that lost a dispute with Georgia in the International Court of Arbitration (I am talking about the company Frontera). We well remember the statements of these people. It all happened a few months ago. These people supported the imposition of sanctions on our citizens when the media around the American company was completely unfounded. I know very well what the company "Frontera" has been doing in Georgia for years. Given all this, let society judge how principled and what values ??they have. As for Saakashvili himself, Saakashvili's appointment to the post of Deputy Prime Minister will not be an insult to Georgia and the Ukrainian people, ”Kakha Tbilisi Mayor said.

It was reported today that the Ukrainian government has withdrawn Saakashvili's candidacy from parliament. However, an official government official in the Ukrainian parliament said that the issue of Saakashvili's appointment had not been registered with the legislature, so he could not be summoned.

Posted by Aurora1 on the 8th May :-

RE: Friday News - similar to previous days
Remember this in 2016

https://journal-neo.org/2016/02/11/georgian-energy-minister-scoffs-at-fronteras-latest-huge-gas-reserves-claim/

Has anyone got the great reply that SN sent him at this time

Found it
https://www.georgianjournal.ge/business/32207-fronteras-open-letter-to-the-energy-minister-of-georgia.html?tmpl=component&layout=default&page=

Posted by thompson on the 8th May :-

Kaladze not to be trusted imo. Russian support links and whilst diversifying some from Shah its also a mask to cover his other Russian contacts. I've long thought that. Just how it looks sometimes with him again, imo.

Posted by keysersoze on the 8th May :-

Friday News - similar to previous days
Friday, May 8, 2020

Information Analytical Agency "INFO NEWS"

Home Georgia: Georgia expects congressional sanctions over harassment

The public

Due to the harassment of American businesses, Georgia is waiting for congressional sanctions

May 8, 2020

Another congressman, Rob Bishop, has joined the sanctions bill against Georgia. A representative of Utah, a member of the Committee on Natural Resources and Defense, called on the Georgian authorities to maintain a free business environment in the country and not to harass American investors.

If Gakharia's government does not heed the advice, the congressman is urging the US government to impose sanctions on Dream's current and former top officials who will be involved in the atrocities. The addressees of the sanctions will be blocked and will be banned from entering the United States.

In Tbilisi, it is suggested that support for the bill in Congress will be added to the Congress. Co-ordinator Rob Bishop addressed an official letter to Giorgi Gakharia on March 9, a day after the constitutional amendment agreement was signed.

Congressman Bishop, who is a member of the US parliamentary delegation to NATO, was concerned about the collapse of democratic processes in the country and has asked the government to heed the Allies' recommendations.

The president of the corporation "Frontera Research" is convinced that the so-called The bill on sanctions will soon have even more congressional supporters, as the Georgian government is deliberately persecuting American investors.

The law on sanctions against Georgia was drafted last year by Markin Malen, but his colleagues joined the Congress in January 2020.

Kakha Kaladze - Investments in Georgia are not in any danger, each investment is important and we are very careful

15:32, 08.05.2020

Investments in Georgia are not in danger, - Tbilisi Mayor Kakha Kaladze said.

He said all investments are important in the country.

"Investments do not pose any threat to Georgia. Countries do not matter to us, every investment that is made is important and we take great care of everything. A company with a dubious reputation, such as Frontera, and the result is obvious, you know, there was a dispute in the arbitration and Georgia won. This also shows that the United States is a democratic country and our strategic partner.

You remember how the topic was raised, as if we were treating this company illegally and incorrectly, but the result is completely different and that is important. What sanctions are we talking about when Georgia is the winner in this dispute, ”Kakha Kaladze said.

He said that what the government was accusing the company of was not brought from the street, but specific topics that the company did not and could not fulfill.

Author - Teona Khubulava

Posted by CF73 on the 8th May :-

RE: GG REFUSE JOINT STATEMENT
ODR, I agree with you on various things but not on this. What they say in the press is not the same as what has actually happened or is likely to happen. Though not helpful from a FRR perspective, what matters are the actual details of the arbitration, and we get a strong sense of that from DomFoks most recent find.

- GG not prepared to make a Joint Statement tells me their scared of something (specifically that the Georgian electorate will pick up that the GG didn't actually get what it wanted, being the area that FRR have been working in).
- GG really cannot go against the outcome of the arbitration. Doing so will be like a nail in the coffin for it will subsequently bring.

Would like it to be concluded as per arbitration ASAP but will need to wait a bit longer. I am, however, more optimistic than have been for some time.

GG are spinning this because they have to for political reasons. They may be able to hoodwink a significant proportion of the population. However, what really matters is outcome of the the arbitration. That will be a lot less ambiguous. GG will understand fully well the implications of going against that. FRR already have US poltiicans pushing, imagine then the GG confiscating the 100% instead of the 99%/ the areas that have had no work - it'd politically damaging within an international context.

Simultaneosuly, and as has been said before, GG need to push on PR as they already made a big deal out of this and subsequently got an average result. They have no choice but to 'style-it-out'. GG are doing so in the knowledge that FFR have their hands tied (for the moment at least). While the GGs PR work is damaging for FRR, what matters is the outcome of the arbitration. The arbitration outcome is an objective reality that should present political limits to what the GG can do/ get away with.

Posted by keysersoze on the 7th May :-

Cont...

Recall, the Oil and Gas Corporation today issued a statement that the Frontera has increasingly made public statements aimed at distorting the results of the arbitration proceedings. According to the Georgian Oil and Gas Corporation, Frontera refuses to disclose the arbitration award and continues to spread false information.

For reference, the accusations between the Georgian government and the "Frontera" are not new.

On April 30, it was reported that the government had terminated the contract with Frontera.

The State Oil and Gas Agency has sent a message to Frontera terminating the contract. According to the corporation, the arbitral tribunal shared the agency's and the corporation's view on the interpretation of the contract norms and, among other things, found that the search for the state of the search area (99% of the entire licensed area) was rejected by the state. Ko. tract termination entitles.

On May 4, Frontera responded to a statement issued by the Oil and Gas Corporation terminating its contract with Frontera.

The company said it did not include the arbitral award and did not intend to terminate the Frontera contract. This statement by the corporation is intended to deliberately continue to spread inaccurate, misleading and fabricated information in order to harm and discredit our company. Simply put, they have no right to terminate the contract unilaterally, nor does the contract contain a promise to terminate the contract early.

For reference, the American oil company "Frontera" has been working in Georgia since 1997 in Dedoplistskaro and Marneuli municipalities. On April 29 this year, the Oil and Gas Corporation issued a public statement announcing the termination of the contract with Frontera, according to which the contract will be automatically terminated on July 27 this year.

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Posted by keysersoze on the 7th May :-

18:20, 06.03.2020

https://1tv.ge/video/beqa-nacvlishvilis-ganckhadeba-8/

Independent MP Beka Natsvlishvili accuses the Georgian government of violating the terms given to 86 employees of the company "Frontera".

According to Beka Natsvlishvili, the Georgian government had prepared a lawsuit on the basis of which the company would be the oil and gas company and not the management of Frontera, and in this way, the salaries of the employees would be reimbursed. Natsvlishvili says the executive branch has refrained from filing a lawsuit in court. The MP calls on the Georgian government to ensure that all employees in the Frontera keep their jobs and

https://bm.ge/en/article/fdi-in-the-mining-sector-increased-by-95-in-2019/52290

Frr mentioned as investor . March articke

https://www.google.com/amp/s/report.ge/amp/economics/pasukhis-pasukhi-mtavrobas-fronterasagan/

to the government from "Frontera"

Bela Gelashvi

May 07, 2020 / 16:30

The American oil company "Frontera" responds to the statement of the Georgian Oil and Gas Corporation.

The company claims that the information that Frontera refuses to disclose the arbitration award is not true.

According to them, the company itself calls on the Georgian Oil and Gas Corporation to prepare a joint text on the decision of the arbitral tribunal and to make it public, which it refuses to do. And the publication of the document reflecting the decision of the arbitration itself, according to "Frontera", will damage the interests of the company and is not expedient.

Frontera is considering a lawsuit against the state over damages.

According to Frontera, this is a distorted interpretation and the Oil and Gas Corporation has no right to terminate the contract.

"By the decision of the arbitral tribunal, we have maintained 100% of the deposits from which oil and gas are extracted. If the state asks us to return the rest of the territories where the work is not going to happen, and we will not return it for 90 days, only then will they have the right to suspend the contract. We have said publicly and even written that we will return the territories where extraction does not take place. However, this article is deliberately, incompletely disseminated and distorted to the public. They have no right to terminate the contract, ”the company said.

Recall, the Oil and Gas

Posted by keysersoze on the 7th May :-

New vid?
https://bm.ge/ka/video/frontera-vs-gogc---fronterastan-kontraqti-avtomaturad-27-ivliss-shewydeba/18334

English below

sakartvelos navtobisa da gazis k’orp’oratsiisa da navtobisa da gazis sakhelmts’ipo saagent’os ert-erti gantskhadebis mikhedvit, k’omp’ania „pront’era risorsiz jorjia k’orp’oreishenis“ ts’inaaghmdeg aghdzrul davastan dak’avshirebit, saarbit’razho t’ribunalis gadats’q’vet’ilebis gamot’anisa da saagent’os mier mititebul k’omp’aniastan gapormebuli k’ont’rakt’is shets’q’vet’is taobaze shet’q’obinebis gagzavnis shemdeg, pront’eras mkhridan gakhshirda saarbit’razho gankhilvis shedegebis damakhinjebisak’en mimartuli sajaro gantskhadebebi. saagent’o da k’orp’oratsia pront’erasgan elodebian am t’ip’is gantskhadebebis int’esivobis gazrdas da ts’minda k’omertsiuli davis p’olit’izirebis mtsdelobebis gagrdzelebas, rats kartul mkhareze arak’etilsindisieri zets’olis gankhortsielebasa da daint’eresebuli p’irebis shetsdomashi sheq’vanas isakhavs miznad. tavis mkhriv, k’omp’ania „pront’era“ uarq’ops inpormatsias imis shesakheb, rom arbit’razhma sakhelmts’ipostan dadebuli khelshek’rulebis shets’q’vet’is gadats’q’vet’ileba miigho, Frontera-s ganmart’ebit, saubaria ara k’ont’rakt’is shets’q’vet’aze, aramed mits’ebis sakhelmts’ipostvis dabrunebaze, ra nabijsats isini gadadgamen. amastanave, k’omp’ania atskhadebs, rom saarbit’razho sasamartlom aseve ar gaitvalists’ina GOGC-is motkhovna imis taobaze, rom mat 320 milioni laris motsulobis jarima dak’isrebodat. st’umari: vazha khidasheli -sakartvelos navtobisa da gazis k’orp’oratsiis mrcheveli

Show more

According to one of the statements of the Georgian State Oil and Gas Corporation and the State Oil and Gas Agency, the company has filed a lawsuit against Frontera Research Georgia Corporation over the termination of the arbitral tribunal's decision and termination of the contract with the company. Since then, the Frontera has made frequent public statements aimed at distorting the results of the arbitration proceedings. The agency and the corporation expect the Frontera to increase the intensity of such statements and continue its efforts to politicize the purely commercial dispute, which is aimed at exerting unscrupulous pressure on the Georgian side and misleading stakeholders.

For its part, Frontera denies reports that the arbitral tribunal has decided to terminate the contract with the state, according to Frontera. In addition, the company claims that the Arbitration Court also ignored GOGC's request that they be fined $ 320 million.

Guest: Vazha Khidasheli - Advisor of the Georgian Oil and Gas Corporation



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Posted by Ivyspivey on the 7th May :-

Tweet by Georgian Analyst
1/2 9th US Congressman (Rep. Rob Bishop, R-Utah) co-sponsors bill to impose #sanctions against #Georgian government. It is likely linked to earlier cancellation of contract with American company #Frontera Resources Corporation by Georgian authorities. sova.news/2020/05/07/dev…

Can someone translate?
https://sova.news/2020/05/07/devyatyj-kongressmen-ssha-podderzhal-sanktsii-protiv-pravitelstva-gruzii/

Posted by OneDayRodney1 on the 7th May :-

Here you go Ivy:

Another American congressman joined the sanctions act against the Georgian government. Republican Rob Bishop became the ninth member of the House of Representatives to support the adoption of the bill. Information about this appeared on the official website of the US Congress.

The bill, initiated by Marquane Malin, provides for a number of sanctions against both the Georgian authorities and former and current government representatives. In January 2020, Malin posted on Twitter an open letter addressed to Georgian Prime Minister George Gakharia. In it, the congressman expressed concern about deviations from democratic values ??and the worsening economic situation in Georgia, as well as “aggressive actions” against American companies.

If adopted, the document obliges the US President to notify Congress of whether Georgia violates obligations and agreements drawn up with American businessmen working in the country. The head of the White House will also be called responsible in this current or existing officials. In case of violation of the rights of American businessmen, the president will have to impose sanctions against the government and officials of Georgia.

Posted by Abkaz on the 7th May :-

Please dear God
Make it stop. Can I please just have my money back so I can go?

Posted by Zeninvestor on the 7th May :-

Yes, Abkaz. It is certainly a form of never-ending torture. However, the pendulum has just swung ever so slightly back in our favour: ‘The document itself is 152 pages long and contains a lot of commercial, confidential and personal information’ and, as Regdik has just pointed out, would require the consent of others to be made public. It does seem like other secret players are involved. Whether or not we can out fox the machinations of the Georgian Government remains to be seen. But B20 and Shatner’s theories do seem to be holding up. GLA

Posted by Moleinahole on the 7th May :-

Abkaz I have warned people many times when investing here my Moto.
Frontera not just an investment but an education and an adventure.

FRR respond back in the press then.
Clearly the two parties see the outcome of the arbitration differently. It turns on whether the outcome legally let alone morally allowed them to declare a material breach and take 100% of the PSA area or whether when they are talking they are actually referring to only part.
FRR seem to believe it's part and GG believe it's not and could be all.
Hence the importance of knowing whether material breach was proven or handled in the arbitration or not. Else GG could be legally correct if morally wrong.
If it's part and FRR still have something the Outrider matters can then start to be worked through especially if there really is a deal in the wings be but with a major or another investor. We live to fight again.
Certainly coming to a head.

Posted by Gipps51 on the 7th May :-

RE: No netgazeti.ge article?
ODR,

I heard Luka the reporter was reading the LSE BB Sunday morning and was not happy with what was being written .

I have messaged him twice without reply . Sunday and Monday.

Posted by CF73 on the 7th May :-

RE: American oil company "Frontera" responds to the statement of the Georgian Oil and Gas Corporation
Awesome work DonFok!

This bit is of particular value/ interest:

------------------

"By the decision of the arbitral tribunal, we have maintained 100% of the deposits from which oil and gas are extracted. If the state asks us to return the rest of the territories where the work is not going to happen, and we will not return it for 90 days, only then will they have the right to suspend the contract. We have said publicly and even written that we will return the territories where extraction does not take place. [...] "

------------------

If the outcome could be put in a nutshell, then there it is.

We are meant to be keeping the areas where there has been genuine work. In those areas where work has not happened, those areas are to be returned within 90s days, if (if I read it correctly) the Georgian ask for it to be returned.

The arbitration process should have left that as pretty unambiguous. If what ZM says is correct, then, in my own interpretation of events, we have come out of it OK. It means that the Goergian State did not get what it wanted, or at least the areas where FRR have had eventual success.

What are the Georgian authorities playing at?!?!

Posted by regdik on the 7th May :-

It's hitting up. One line stood out "without the convent of other people" lndiction of an NDA is in play ( or more than one).
I also agree that FRR sitting on the block for 90 days would send GG ape ****.

Posted by DomFok on the 7th May :-

Part 2
According to him, the company has no desire to politicize the issue, but the fact that violence has been going on in Georgia for years has provoked a corresponding reaction from the largest American investor, in various circles, including the Congress.

For reference, the American oil company "Frontera" has been working in Georgia since 1997 in Dedoplistskaro and Marneuli municipalities. On April 29 this year, the Oil and Gas Corporation issued a public statement announcing the termination of the contract with Frontera, according to which the contract will be automatically terminated on July 27 this year.

At the same time, the Oil and Gas Corporation issued a statement today, according to which the dispute over the dispute between "Frontera" was intensified after the decision of the arbitral tribunal to issue an arbitral tribunal decision and send a notice to the company to terminate the contract. Public statements aimed at distortion.

"According to the Georgian Oil and Gas Corporation, Frontera refuses to disclose the arbitration award and continues to disseminate incorrect information," the statement said.

Posted by DomFok on the 7th May :-

American oil company "Frontera" responds to the statement of the Georgian Oil and Gas Corporation
https://www.interpressnews.ge/ka/article/598553-kompania-prontera-sakartvelos-navtobisa-da-gazis-korporaciis-gancxadebas-pasuxobs/
The American oil company "Frontera" responds to the statement of the Georgian Oil and Gas
Corporation. The company says that the information that "Frontera" refuses to disclose the arbitration award is not true.
As Zaza Mamulaishvili, General Director of Frontera, told InterpressNews, the company itself calls on the Georgian Oil and Gas Corporation to prepare a joint text on the arbitration decision and make it public, which it refuses to do. According to him, the publication of the document reflecting the decision of the arbitral tribunal will harm the interests of the company and is not expedient.
"We have addressed the public several times in writing, but we have been refused to release a joint public statement. The document itself is 152 pages long and contains a lot of commercial, confidential and personal information, it is practically impossible to make it public in a short period of time and without the consent of many people. Also, it is not desirable to do so, as the decision of the arbitral tribunal has no right to appeal or appeal to the Oil and Gas Corporation. We call once again to make a joint statement on the decision of the arbitration, which is very simple and leaves no room for speculation, "- said the director of the company.
According to him, "Frontera" is considering filing a lawsuit against the state for damages.
"About 10 months ago, we filed a lawsuit for damages, but we withdrew it. This was a good will on our part, we thought that the state would stop the violence and we would continue to work in a civilized way, but the government did not make such a decision, "- said the director of the company.
As for the statement of the Oil and Gas Corporation, the Arbitration Tribunal has unequivocally ruled out a substantial breach of contract by Frontera, which gave the state the right to terminate the contract, according to the director of Frontera, this is a distorted interpretation of the contract.
"By the decision of the arbitral tribunal, we have maintained 100% of the deposits from which oil and gas are extracted. If the state asks us to return the rest of the territories where the work is not going to happen, and we will not return it for 90 days, only then will they have the right to suspend the contract. We have said publicly and even written that we will return the territories where extraction does not take place. However, this article is deliberately, incompletely disseminated and distorted to the public. They have no right to terminate the contract, ”said Zaza Mamulaishvili.