Member Info for Mickthegambler

Oil company ,, Frontera Eastern Georgia " around the noise does not stop. Frontera is demanding $ 3.5 billion in damages from the Georgian Oil and Gas Corporation. The dispute is pending in The Hague Arbitration Court, which was addressed by the Georgian Oil and Gas Corporation and the State Oil and Gas Agency on January 15, 2018. On the other hand, Frontera demands the repayment of 84 months of its 11 months of debt. The opposition says the Georgian government is deliberately killing the US company and trying to expel it from the Georgian market. Employees are expected to receive salaries from the company.

In recent critical letters from US congressmen, the name of the company Frontera has been repeatedly voiced twice. First Republican Congressman Markuin Malin wrote a letter to George Gakharia, referring to the decline in FDI in Georgia, citing, for example, the oil and gas company Frontera, which was cited as one of the objects of harassment by the Georgian government.

Frontera Western Georgia is an American oil and gas company that has been seeking oil and gas in Kakheti, particularly in Dedoplistskaro since 1997. The company is a member of the American Chamber of Commerce.

In parallel to the arbitration dispute between the company and state agencies, 84 employees of the company are demanding 11 months of arrears , which is being held regularly by protests and sometimes by union representatives. Against this background, the opposition is actively discussing the contents of the letters of the US Congressmen, according to which the authorities are deliberately trying to obstruct the activities of the American company in Georgia.

An agreement with Frontera Resources Georgia Corporation on an equitable distribution of oil and gas production was signed in 1997. Frontera is demanding $ 3.5 billion in damages from the Georgian Oil and Gas Corporation. The dispute is pending in The Hague Arbitration Court, which was addressed by the Georgian Oil and Gas Corporation and the State Oil and Gas Agency on January 15, 2018. Georgian corporation and agency accuse US company of breach of contract. A foreign company in a lawsuit alleges that it was the victim of a breach of the terms of the same contract by the corporation and the agency.

Frontera's licensing area in Georgia is 5060 sq. Km and covers Dedoplistskaro, Signagi, Sagarejo, Gurjaani and Marneuli districts. The opening of the oil well in the Tariban Valley was attended by former President Eduard Shevardnadze. The former president said that foreign specialists had found a large supply of oil in Shirak, which would have been good for the economy, with Dedoplistskaro waiting for jobs.

The partnership is owned by JSC Georgian Oil and Gas Corporation's 100% shareholder, the Partnership Fund, which in turn is based on a 100% equity stake by the state. The corporation is managed by the Ministry of Economy and Sustainable Development. Georgian Oil and Gas Corporation and Frontera are

Opposition parties, however, note that letters from Washington are only the beginning, and "the berries will come." Encouraged by the support of even the units, but the congressmen, the opposition say that Georgia is increasingly losing its prestige among partner countries.

Former associate of Ivanishvili and ex-leader of the Republican Party, now a member of the Lelo movement, David Usupashvili, is confident that letters from European and Western countries criticizing the country's authorities will continue. Usupashvili compares congressmen’s January letters with small pebbles falling from a mountain.

"Big stones and cobblestones will definitely follow these stones," Usupashvili said.

It has to be ufg they hold 87 million there has only been approx 5 million traded since the drop from 90p so they wouldn't have had to sell much when would it it have to be declared if it was them?

About 80% of Frontera Resources shares are owned by UK Nationals
Just that sentence from TX2 post

If true this means 3.2 billion are non UK with Steve's just over 2 billion so approx 1 billion not as much as I thought

TX2
4h
FWIW I point out that Members Of Congress Markwayne Mullin & Brian Babin have both declared that they have rec’d financial contributions from “Frontera Resources” during 2019 as required under US law.Whether this is the same entity that some people here have invested in I have no idea;however a “reasonable person” would assume that their letters are making representations on behalf of this company and its operating companies…
What is very odd is that the present Frontera Resources Corp,previously on AIM in which some here are invested,is and always has been a Cayman Islands registered & incorporated company.Cayman Registered Number 256380;registered office PO Box 309,Ugland House,Grand Cayman KY1-1104.It’s main investments are owned by Frontera International Corp,Cayman registered number 71338 which in turn owns Frontera Resources Caucasus Corp also a Cayman entity which in turn is controls the Georgian registered trading companies.About 80% of Frontera Resources shares are owned by UK Nationals,the balance by management with Georgian National ZM the largest holder,only Nicandros is being a significant US holder.

Where is the US interest and why Congessmen have you not disclosed in your letters that you acting for the financial interests of a Cayman Islands Exempt Corporation with no public let alone US accountability & responsibility by implying it is legally US based & owned.Frankly I suspect you have done no due diligence on the Company which would just make you fools!

Symore_Bottoms
3h
Yes i agree TX, it’s highly unusual (in a good way) that a small delisted AIM company is attracting so much US political support even after 1 year of no official communication for us the mortal shareholders. Why do you think this is?

Also just noticed a post on LSE BB by ‘oopsi’. Looks like the Georgians are fighting back. I think they have a strong hand in this arbitration (Feels like it); may be due to some fine print in the PSA. Whatever the case, seems there is strong interest in B12, could be the Azerbaijanis, the Ruskies, the Chinese or even one of their own from the US. Anyway, here is the article unearthed by oopsi (sincere thanks to him):

“David Bakradze, Georgian Ambassador to the United States, commented on the letters sent by the U.S. Congressmen to the Georgian government.
In the interview with Imedi TV on January 26, Ambassador Bakradze divided the letters into two categories – the letter sent by Adam Kinzinger and Gerald E. Connolly, Co-Chairs of the U.S. Congressional Georgia Caucus and the joint letter sent by four Congressmen, together with the letter by Congressman Mullin, which also mention the dispute between the Georgian Oil and Gas Corporation and U.S. based Frontera Resources company.
“The tone, in which the Congressmen supporting Frontera address the Georgian Prime Minister – the Prime Minister of the United States’ strategic partner state – is absolutely unacceptable,” he said, noting that “we have

Approx 16 billion in issue I think 4.5 billion was fshg zaza and Steve approx 3.5 billion youd have to say there must be a few billion in sticky hands somewhere

Also there were 8 billion shares unaccounted for and it was assumed that all of those couldn't have been pi's

Wasnt one of the institutions a vehicle for the workforce to buy shares maybe wrong

Johnny $400mil is 1.92p a share approx

Fair comment I should have known the shorters Tim Kempster used that website as his argument for FRR not producing

https://tradingeconomics.com/georgia/crude-oil-production

These values for oil production upto July 19 dont match upto what you predicted for what FRR producing oil or is this website not reliable?

Youd have £6,000,000 in your trading account - 20% Capital gains tax so £4,800,000 in your bank not bad
Blue vista would have £20,000,000 - 20% Capital gains tax so £16,000,000 in his bank

Hope your good you haven't posted for a while I think most just read the boards as to what's going on hopefully itll be done and dusted this year it was always going to take time just by the magnitude of the claimed resources

That makes sense considering he has 200 million shares

Been?

Wheres he bern?

Bluevista

Posted in: FRR

Posts: 459

Price: 0.288

No Opinion

RE: Sign up25 Jan 2019 14:49
BigD... I think your idea of linking up with FOF makes sense. Most LTH are familiar with FOF volunteers - and know them personally through the shareholder meetings. There is a level of trust. I also agree with 5p that now is not the time to antagonise Zaza/Steve as they focus on the BAU and CC in hand. Winning this and securing the NY funding are paramount. Without these milestones secured any amount of pressure from a shareholder group - formal or informal - is useless. I have met Zaza at every shareholder meeting and 'looked him in the eye'. I do trust him and the FRR team to do the right thing for shareholders - as they're shareholders too - and get the business through this big bump in the road.

So, while I could personally add more than 10% to your total I will hold off in order that the BOD have space to take down SH/OMF and secure a path to revenue. If you team up with FOF, I will reconsider. I do applaud your intent, but as a LTH and not in urgent need of cashflow, or trading funds, I'm happy to sit this one out and not exacerbate the situation for the BOD

Or they could sell more? No one really knows

Hasn't Rodnikova got 1m oz resource but obviously needs confirming