Member Info for Njames

https://www.linkedin.com/in/george-kalandarishvili-b512a4a8/

HIs LinkedIn profile reflects he left in October 2019.

The part they potentially kept their hands on were the portions where there was already existing production/discoveries from Soviet times, as listed in the PSA. No new commercial discoveries were made on the entire block during the period.
The arbitration settled that. Now that the PSA is expired, unless their force majeure claim was accepted or the government grants an extension, they have nothing.

"I have come to a conclusion, that there is no recoverable gas. Yes, there may be lots down there, but FRR has never proved it. It may simply be too expensive to extract. Before anyone jumps down my throat and mentions the flame photo again.. If the gas was extractable, and in quantity... Some super major would have pounced by now."

I agree with this. Other than the ancient (c 2005) pre-IPO report showing proved oil reserves at Taribani, FRR only had CPRs showing "resource estimates" not reserves for the vast quantities of gas claimed. They did not attract enough funding or have enough success to prove up anything. It may be there, but not economically extractable when compared to other global opportunities. And they data they did have, when combined with the political risks in Georgia after the Russian invasion in 2008, were insufficient to attract any buyers or deep pocketed farm-in partners.

Possibly no. If the PSC is expired or Green is allowed to keep FEGL and the PSC, then FRR shareholders have nothing. Except a judgement against ZM and a bunch of debts.

Brings to the forefront once again ZM's double dealing. SN in the US hearing denied the company received the funds. The Board was apparently unaware of the 2nd or 3rd amendment to the Green Capital deal that gave the security interest in the assets--ZM signed that over in Georgia. Then he purported to speak for the company after he had been fired in the hearings referred to below where FRGC supposedly agreed to hand over FEGL to Green. Then later, deliberately caused confusion among the Georgians by purporting to speak for American Frontera. The guys' a crook through and through.

New Management team? Pray tell!

They were never able to produce more than a few hundred barrels a day even at peak maybe 500. So much of oil and gas extraction is in the rocks, and Block 12 and Georgia in general were blessed with poor geology. The hope was the Kura Basin would be as good as it is downstream in Azerbaijan, but such was not the case. The Russian invasion in 2008 spooked a lot of potential investors and it was very tough sledding after that. There are many areas of the world with better rock and less risky. The resource may well be there but difficult or impossible to extract economically weighted against the political risks.

SN is the only one of those still involved. White and Bentsen left over a decade ago. Stanhope Place was/is owned by a former director of Frontera who also left over a decade ago. Those will all be dead ends. The only way to get anyone's attention is via a lawsuit and if you've followed this board over the last few years be prepared for difficulty serving process, delays, obfuscations, constantly changing counsel, etc.

Always has; I well remember a shareholders' meeting in 2010/11 where he no-showed.

Not sure if the individual that responded to you was SN but those words and sentences sound exactly how he used to write. So even if not him responding, he wrote them. They sound similar to what was given to another poster, possibly Looed, a year or so ago. I.e., "continuing to advance constructive change", "context of legal proceedings", etc.

SN is a very rich man thanks to his dad. Even though he has squandered several small fortunes on FRR and keeping it afloat, he can afford to play the long game and live comfortably. If it pans out, great, if not, it was a nice pastime for him. I do believe he did not see ZM betraying him/the company like he did. That had to cut very deeply as he is loyal and expects loyalty in return.

SN is not a criminal like ZM, but his statements and the truth seem to be on divergent paths.

MP, no worries. I just take every opportunity I can to push back against the prevailing "climate change" narrative, which is so obviously contrived and exploited. The article about the windfall tax and new production is quite interesting.

https://youtu.be/qbXfEGVpqrM

"Lock in global heating" -- what hogwash. Predictions based on math models with 100s if not thousands of variables and inputs, and which never prove correct and are continually pushed out decades when the predicted outcome doesn't materialize. Whenever "science" is not subject to question, and is instead treated as religious dogma, question it.

What if they are greatly exaggerated? The estimates they have are "resources" which are very far from bankable reserves. There's a reason no major ever came in despite several having taken a look at the data.

Oh,, and Luis G.

Last data point was Steve N., Zaza (now gone) and the lobbyist. Doesn't sound like a group too focused on oil and gas extraction. No Aro.

Who is the new management team besides Steve N.? Meet the new boss, same as the old boss.

Rubbish.