Member Info for OneDayRodney1

Good afternoon all
The GOGC Interim Accounts for the 6m ended 30 June 2020 are now on the GOGC website. A quick review reveals no mention of Frontera.
The previous accounts (for the 12m ended 31 December 2019), had almost a page under Contingencies related to Frontera, which included the details and potential implications of the arbitration result, detailing tax and costs owing by Frontera to GOGC. It then stated that they were considering steps to enforce the award.

Interim Accounts are not audited and are less comprehensive than annual audited accounts, but there is no mention of any amount owing by Frontera or any steps to enforce anything. This could be as it is considered remote or maybe that they've dropped any action or they don't merit it worthy of mention in the accounts.
The annual accounts should be a lot more interesting and last year appeared on 21 May. It wouldn't be surprising if they were published later this year.
GLA

Correct.
But then as there was a "material breach" they were able to also claim the remaining 1%. But backed down when Uncle Sam thankfully started throwing his weight around.

DomFok: Frontera continually adopted this approach, which in the end paid dividends thankfully. But the arbitration ruling document was briefly available and was very damming and clear in its ruling. I still have it saved.

Aurora: to correct you, we actually lost the arbitration and then via breach lost the asset but got it back via political pressure.
Hopefully history will repeat itself....

Met him too in London.
How can these guys s h a f t people they have looked in the eye and shared a beer with? Beats me :(

Good morning all
Just to chuck in my two pennies worth:
It's really difficult to know what we should consider doing, if anything.
We have been treated absolutely abysmally as part owners of this company. There is, and never will be, an acceptable excuse for the way we have not been informed of anything.
It has been suggested that we pull together a fund for some legal advice. The Company is based in Houston. It has an incredibly intricate and big structure of subsidiaries based across at least three countries. It has court cases going on in California, Houston, Cayman Islands and Georgia. One of the subsidiaries has been liquidated and the liquidators are still working on the situation. If a lawyer exists who can advise us on such a complicated situation with any degree of certainty I would be amazed. The cost of such a person would probably be beyond our collective means. Then what would it achieve? The Company presumably has no funds and the only way we are ever going to get anything back is if the asset is monetarised. The lawyer won't do that. He/she will just cost us and the Company big bucks.

Then the investigative journalist idea. Hmmm ... why? What is that going to achieve? Yes, a great story for them, if they can be bothered to spend the necessary hours to get to the facts. I suspect all they would do would be write a load of inaccurate tosh that, at best, gives a (further) bad name to the Company. At worst it could scupper any miniscule hope that remains of any return.

If I felt either of these routes, or any other ideas, had a chance of getting us any return then I would support it. Unfortunately I'm afraid the right thing for us to do, is to do as Arsenal always says: "wait and see". The fiasco can't go on forever.
GLA

Thanks for sharing Bugsy.
Hopefully Ms Hajiyeva is aware of Frontera's existence. She certainly will be if she reads the other news stories on the GOGC news page ...
GLA

This just about sums you up.
Yesterday you were looking for sympathy claiming your boyfriend had Covid. Presumably a lie.
Tonight you are back to your normal reprehensible self getting pleasure from other folks' misfortune.
Despite things looking desperate here for all us innocent investors, at least we will sleep tonight with a clear conscience (look the word up in a dictionary). And we know the real meaning of friendship and sympathy.
GLA

Zeps: you're clearly on top of it. All the best.
Coggy: made me laugh out loud ... when I should be crying.
GLA

Apologies Zeps, if inappropriate advice, but depending on your age, and circumstances, sticking monies in your pension fund can be boosted, by HMRC, 25%.
Just saying in case you're unaware and have the opportunity.
All the best.

Thank you Gambler for posting this on the board.
Thanks also to Oopsi for your analysis of this and the earlier Capital discussion; it's really helpful as I didn't have a clue what to make of it.
We do seem to be at a, what hopefully will be, a low point: infighting between the two largest shareholders in public and a Government which has swung towards Putin.
Fingers crossed things get better against the seemingly overwhelming odds.

Arsenal: unfortunately the croupier called "last bets ladies and gentlemen please" on the fateful Christmas Eve and so we are all locked in with our bets ...
Glad to read you're doing well elsewhere; I'm "all in" here alas.

Good morning Arsenal
I suspect on that point you may be waiting and seeing in vain ;)!
GLA

Certainly no offence taken Cityboy :).

One day "Thomas'?!?

RR: how you can put a positive slant on the current political situation in Georgia is beyond me!

And it's "bear" ... arrrrgggghhhh!

GLA

bugsy-b: a brief Google search suggests that BP haven't announced a replacement to Ann Davies as BP Georgia Country manager ... suggesting there's been no-one in post for six months. Have you discovered anything different?

The email was very kindly shared by Looed after he got it verified by FSHG, so not a hoax.

Thank you for clarifying Gambler.
It's just seems a reiteration of what he said before without any reference to the counter evidence that he knew about much of this. Evidence which appeared pretty conclusive.
What a mess.

The_Gambler: forgive me if I'm mistaken, but isn't this old news from when the case was launched?