Member Info for Mills240

They signed a deal stating they had to invest $6 million within the 1 st 5 years of the 50 year agreement ...
They still have 4 years to invest $5,999,999....
Have they been active in the Country so far no .... Why ?? No Hope or Bob Hope ;)

Come on Zaza bring home the BP sauce

star .. 1 question did you sell FRR shares before making public the infomation you had found ?

declaration of solvency

Totally agree BezzyBushFire .. Good post !

dated July 2016 ...

The initiative to develop the "Dolphin" site belonged to another American company - Frontera Resources Corporation, which also submitted to the competition.

Author: E. Alifirova

Source: Neftegaz.RU

The favorite of the competition is Frontera Resources, which initiated the holding of a competition to conclude a PSA for the Dolphin block.
Implementing projects in Moldova and Georgia, Frontera Resources has considered Ukraine as a zone of its interests for the past 7 years.
In March 2012, Frontera Resources signed a Memorandum of Understanding with Gosgeonedr of Ukraine, according to which the company intended to engage in geological exploration and exploration of hydrocarbons.
In July 2015, Naftogaz and Frontera Resources signed an agreement on investment in exploration and development of oil and gas fields in Ukraine.
A loud project to supply liquefied natural gas ( LNG ) to Ukraine from Frontera Resources capacities in Georgia was also announced . But with the extraction of gas in Georgia, Frontera Resources did not develop very well.
successfully, and in Ukraine, a scandal erupted around the regasification LNG terminal in the area of ??Odessa.
Then Frontera Resources shifted its interest towards the shelf projects in Ukraine.
With the Ministry of Energy and Coal Industry of Ukraine, the company discussed a project in the western part of the Black Sea shelf under PSA terms.
As a result, Frontera Resources began to seek the conclusion of the PSA for the Dolphin block.

The competition for the development of hydrocarbons within the Dolphin section on the Black Sea shelf under the PSA terms was announced by the Cabinet of Ministers of Ukraine on March 6, 2019.
According to the terms of the competition, the PSA validity period will be 50 years.
The winner of the competition must provide a geological survey of the subsoil at the site, including the drilling of at least 5 wells during the 1st 5-year phase of exploration.
The minimum investment in this period will be determined based on the results of the competition, but should be at least 1.5 billion UAH (55.5 million USD).
The maximum part of compensation products, due to which the investor can be compensated for his expenses - 70% of the total volume of production.
The share of the state in profitable products should be at least 11% of its total volume.
During the month, i.e. until July 12, 2019, the interdepartmental commission must evaluate the proposals of the applicants and provide their recommendations to the Cabinet of Ministers of Ukraine for electing the winner.

No worries minden you've got AST AND 88E to come good! ;)

Igor Maskalevich

https://m.dt.ua/energy_market/delfin-tanci-na-hvosti-314544_.html

Unfortunately, Frontera does not expect anything real. Even the ministry, which is so touchingly protecting it last Monday, is no longer counted among its favorites.

However, the action is far from complete. Here the minister suggested that the competition could be re-announced in the case if the analysis of applications will demonstrate the impossibility of the contestants who filed them to master the site. Sounds, of course, fantastically (because they can all write presentations), but nothing happens.

It can be assumed that Ukrhazvydobuvannia, which previously claimed five sites on the Odesa Shelf, lost within the bloc. She has a court decision, and she reminded them. But sluggishly and quietly, "Ukrhazvydobuvannya" or NJSC "Naftogaz of Ukraine" did not succeed at the official appeal.

It is worthless if honestly. Hope for the president's administration did not work either.

But the answer to the question of one of our experts: "It is interesting how many companies would come if the competition lasted at least four months instead of the two?", We will not know. At the output so far - a typical competition "with Ukrainian specifics." Special effects (now and then) will also be.

rsion
Go to the full version
NEWSPAPER

"Dolphin": dancing on the tail
At the output so far - a typical competition "with Ukrainian specifics."
Igor Maskalevich
Igor Maskalevich
Correspondent DT.UA.
? 22-23
"MIRROR OF THE WEEK. UKRAINE »
Today - June 21


Recently, DT.UA talked about the "miracle" of the investor search for the most convenient part of the Ukrainian shelf "Dolphin" ( see number 21 dated June 8, 2019 ). In short, its initiator does not have the money from the word "well at all" - the time chosen is not the most convenient, the terms are artificially understated, the work of attracting large Western companies was not conducted at all. There is not even an English translation of his terms. In general, the typical "all for their".

In addition, its conduct weakens Ukraine's position in the court in The Hague on the return of the Crimean shelf as a whole and the two gas fields seized by Russians - Odesa and Bezimenny, in particular. Of these deposits, which are located under any rules (even the Kremlin) in our zone, over the past five years, banal stole about 5 billion cubic meters of gas.

The position of Ukraine is that we not only lost access to them, but also Russian weapons systems make them dangerous and limit access to the surrounding water areas.

How does the competition conditions fit when the sites offered for investment surround the captured areas almost from all sides? Does anyone think that the Russians will not beat this episode in court? ..

The first stage of the competition itself lasted for two months instead of three months. Several appeals asking at least to extend the term Cabinet of Ministers firmly and decisively ignored. The last one was "seized" by the administration of the President of Ukraine. Her head sent a letter to the Cabinet on June 3, proposing to consider extending the terms of the competition for another two months.



The letter was rigid, with phrases such as "a deliberately created barrier for the rapid pick-up of a strategically important oil and gas field during the election period between" their "and firms pursuing exclusively speculative tasks."

The initiator of the competition, Frontera Resources, was assessed without any reason: "... has not established itself as an operator able to develop complex oil and gas projects." Bolivia, Azerbaijan and Georgia will subscribe to this formulation. Yes, and Moldova is unlikely to specifically object.

Then started interesting. On June 6, Vice Prime Minister Volodymyr Kystion charged to consider the letter of the AP in Minenergovugilprom, where he was safely suspended. Nobody wanted to adjust anything (the administration of the president does not have such powers). According to unofficial data, several Deputy Minister of Energy Igor Nasalik were not enthusiastic about the methodology of conducting the competition, but ...

The draft letter-response to Bankova became known. Interestingly, there they stumbled that Front

In the spring, its representatives probed the situation and eventually applied. To call them "not serious investor" is quite fraught. Thus, the first round in the hardware struggle between the Ministry of Energy and the presidential administration remained for the "old team".

Has the country won? Unlikely.

The same Azerbaijanis could come in two months. All this year, nobody will bother anything. The next one too.

Other participants in this hasty contest were more or less understandable before. This is already mentioned by Frontera (more precisely, its "daughter" LLC Frontera Resource Ukraine, which wrote an application for almost 400 pages). This is the Trident Acquisitions Corp of former Russian deputy Ilya Ponomariov (voted against the annexation of the Crimea). Today he is doing business with us in Central Europe, and recently he was issued Ukrainian citizenship on the basis of a personal decree from then-authorized President Petro Poroshenko.

One of Ponomarev's key partners is Arsen Avakov's friend and co-owner of the ATB chain of stores, Gennady Butkevich.

Well, Mr. Kolomoisky and his comrades came. More precisely, he and Vitaliy Khomutininky of PJSC "Ukrnaftoburiny", which extracts gas in the Kharkiv region

The letter was rigid, with phrases such as "a deliberately created barrier for the rapid pick-up of a strategically important oil and gas field during the election period between" their "and firms pursuing exclusively speculative tasks."

The initiator of the competition, Frontera Resources, was assessed without any reason: "... has not established itself as an operator able to develop complex oil and gas projects." Bolivia, Azerbaijan and Georgia will subscribe to this formulation. Yes, and Moldova is unlikely to specifically object.

Then started interesting. On June 6, Vice Prime Minister Volodymyr Kystion charged to consider the letter of the AP in Minenergovugilprom, where he was safely suspended. Nobody wanted to adjust anything (the administration of the president does not have such powers). According to unofficial data, several Deputy Minister of Energy Igor Nasalik were not enthusiastic about the methodology of conducting the competition, but ...

The draft letter-response to Bankova became known. Interestingly, there they stumbled that Frontera Resources was personally lobbied by former US ambassador John Herbst (included in our "Atlantic Council" revered in us). And the short terms were justified by the fact that the same were on Yuzivska and Oleska squares. The fact that Chevron is similar to Frontera is about the same as an elephant on a mouse, and before the then competitions were years of agreement, modestly silent. Literally a day before the contest, namely on June 12, the answer went to Bankova.

At the same time, Minister of Energy Igor Nasalik already had a trump card ace - a serious company, which did not require much translation of the texts of tender documentation in English, came to the contest. Yes, and close acquaintance with our realities. It was the daughter company of the Azerbaijani State Company SOCAR (Caspian Drilling International).

ecently, DT.UA talked about the "miracle" of the investor search for the most convenient part of the Ukrainian shelf "Dolphin" ( see number 21 dated June 8, 2019 ). In short, its initiator does not have the money from the word "well at all" - the time chosen is not the most convenient, the terms are artificially understated, the work of attracting large Western companies was not conducted at all. There is not even an English translation of his terms. In general, the typical "all for their".

In addition, its conduct weakens Ukraine's position in the court in The Hague on the return of the Crimean shelf as a whole and the two gas fields seized by Russians - Odesa and Bezimenny, in particular. Of these deposits, which are located under any rules (even the Kremlin) in our zone, over the past five years, banal stole about 5 billion cubic meters of gas.

The position of Ukraine is that we not only lost access to them, but also Russian weapons systems make them dangerous and limit access to the surrounding water areas.

How does the competition conditions fit when the sites offered for investment surround the captured areas almost from all sides? Does anyone think that the Russians will not beat this episode in court? ..

The first stage of the competition itself lasted for two months instead of three months. Several appeals asking at least to extend the term Cabinet of Ministers firmly and decisively ignored. The last one was "seized" by the administration of the President of Ukraine. Her head sent a letter to the Cabinet on June 3, proposing to consider extending the terms of the competition for another two months.

Looks like I've been missed of the list :(

ATB

M

unfortunately I cant see HMRC allowing that.... it's to simple for them!

are the ones of Seismic vibrator trucks new ?? cant remember seeing them before ...

would it not be better to relist with with all the money in the bank to give a higher SP and than to issue an dividend 1 month later ?? let the relist price rocket so maximum damage is done to the shorters ;)