Member Info for Mogger

All,
Establishment of an Environmental fund by PMO.
http://www.fig.gov.fk/assembly/public-papers/executive-council-papers/send/416-27-june-2019/2531-73-19p-managing-offsetting-contributions

Mogger

All,
Now that the children have left the board and gone to bed, I thought that the adults would like see what the FIG have been doing...
Lets start with changes to the requirements of the FDP
http://www.fig.gov.fk/assembly/public-papers/executive-council-papers/send/416-27-june-2019/2530-72-19p-policy-decision-on-various-offshore-minerals-legislation-matters.
The whole report is interesting but for those short on time have a look at the attached policy, in particular sections 1.3 and 3.1.

Mogger

Ralph,

Well done for admitting on a public forum that you collect peoples personal information contrary to the Data Protection Act 2018!

Mogger

Olliesky,

There is no appeals process. The tribunal's award is final
"The award is final and binding and can be recognized and enforced in any ICSID Member State. There is no appeal against an award, but there are limited post-award remedies available under the Convention."

https://icsid.worldbank.org/en/Pages/process/Award-Convention-Arbitration.aspx

Mogger

Excellent update.
It seems that Italy were indeed trying to use the Romania vs Micula defense.

You only try to suspend cases that you think you will lose.

Mogger

All,

For anyone interested in in the ongoing legal proceedings between Romania vs Micula, there has been an important decision from the General Court of the EU.
In 2013 ICSID awarded Micula compensation but then the EC decided that one European country couldn't sue another as that was against EU law.
Cases going through ICSID have tried to use this argument to prevent payment.
This "final" annulment should help Rockhopper in obtaining the award if we win the case

Mogger

https://www.sheppardmullin.com/newsroom-pressreleases-572.html

I hear that Rockhopper is still in the running for some producing assets in Brazilian waters

Mogger

GS,
Nothing will surprise me

Mogger

Paul,
http://icsidfiles.worldbank.org/icsid/icsid/staticfiles/basicdoc/partf-chap06.htm

Rule 46

Mogger

All,
I should clarify that we probably wont hear anything official so early. I do think there will be some leaks to the Italian press though

Mogger

Giblets,

Unless there is a 60 day delay, the award should be signed w/c 1st July

Mogger

Final results for FIH
"As in the prior year there was no direct activity or material expenditure from oil companies during the year although the principal licence holder in the North Falklands basin, Premier Oil has commenced preparations for the tender process which is intended to finalise the cost of the onshore services and facilities required for the development of Sea Lion. The tender process is expected to be completed around the end of 2019, at which point Premier should be in a position to make a final investment decision on whether to proceed with its plans for Sea Lion. "

Mogger
https://www.investegate.co.uk/fih-group-plc--fih-/rns/final-results/201906110700067467B/

All,
Progress on all fronts

Mogger

https://en.mercopress.com/2019/06/07/falklands-delegation-in-uk-meets-oil-representatives-trade-partners-ministers-and-mps

All,
Just to break up the informative posts from Peepo, here are details of a change in Export Finance that has been asked for from some of the partners in the Sea Lion project.
With such a complex supply chain, companies wanted guarantees from UKEF. They now have that.

Another piece of the jigsaw
https://www.gov.uk/government/news/liam-fox-announces-gamechanger-financial-support-package-for-uk-sme-exporters

Mogger

An update from the Governor

https://www.gov.uk/government/news/governors-annual-address-to-the-falkland-islands

Mogger

Why is it such a surprise to people?
If you are all such long term holders, then you must have short term memories

https://en.mercopress.com/2017/08/28/falklands-premier-oil-is-asking-for-export-funds-to-develop-sea-lion-reports-financial-times

Mogger

Carrot,
Stop making things up

"But the majority (61%) of resolved lawsuits have favoured the investor."
https://www.energy-charter-dirty-secrets.org/

Mogger

Always best to look at the facts rather than try and guess.

For FY 2018 ICSID....
"Of the 24 cases decided by tribunals, six awards declined jurisdiction, three tribunals rejected all of the investors’ claims, and 15 awards upheld the investors’ claims in part or
in full."
https://www.google.com/url?sa=t&source=web&rct=j&url=https://icsid.worldbank.org/en/Documents/resources/2018ICSIDAnnualReport.ENG.pdf&ved=2ahUKEwjj4tuIwa3iAhWFonEKHb7JCykQFjAAegQIBRAB&usg=AOvVaw0LFX-swbGQBD1fB3C_822z&cshid=1558472333216

Mogger

Yet Carrot was asking people to write to their MP!

Interesting

Mogger

Carrot,
Did the company give you that courtesy when you arrived at the door?
The published arrangements for the AGM were quite explicit

"Individuals who are not in possession of the requisite documentation may not be permitted to attend the
meeting.'

https://www.google.com/url?sa=t&source=web&rct=j&url=https://rockhopperexploration.co.uk/2019-agm-arrangements/&ved=2ahUKEwie7rrVt5_iAhWBSBUIHffXBEMQFjAAegQIAxAB&usg=AOvVaw3K7J7hmx3nU7O3Z0KRPB6V&cshid=1557988854395

Mogger