Member Info for Phil_2018

If the US sanctions bill passes and foreign investors take flight if they see the Georgian government doing over American companies the economy could crumble and things get very bad out there. The virus will already be having a crippling affect on the economy anything more could be devastating to the Georgian people and their government. About time the GG hold up their hands and call off their hostilities I think.

I agree Aurora, as long as they hand back the land and tick off the other Arbitration matters then they should be able to proceed. My main concern then is the Hope situation. The court case, etc is only a few months away now. Unless Zaza has something real damning that we have not yet seen I don't see that as likely to go well for FRR.

Complying with the Arb outcome then moving onto either a big financial deal or better still in my mind a SM buyout would be the best way forward I think. The GG certainly seem to have some real hostility to FRR. A buyout by someone like BP who would have a lot more clout is probably best. I don't think the GG would dare mess around with a SM that it would take back the 1 percent oil & gas producing region they would know that a SM could bring down one hell of a political, legal and otherwise storm on them. That is what Zaza should be working on now to my mind.

Indeed Freeatlast, I am not sure how this is going to unfold. If FRR can get the resources together to just press on pumping out the oil and maybe tapping into the gas then they may do. It is quite possibly they will do this, they can give the GG back the wasteland it wants and satisfy any other Arb requirements and press on with what it is legally and rightfully entitled to do. My guess is that the 90 day notice holds no water and FRR's statement says about as much so it will be ignored and worked past without anything happening. My guess is the GG won't do anything at the 90 day point, they know the US would come out strongly against it and retaliate with sanctions, military withdrawal, etc. Trump isn't a guy that sits around and backs countries that act against US interests. I am even skeptical if the GG have the clout within Georgia itself to illegally move against FRR.

Even still it might be wise for Frontera to submit a case to the courts if the GG don't withdraw from their position just in case. That then should ensure that the GG are definitely blocked from any attempt to take over Frontera's field.

"Simply put, they have no right to terminate the contract unilaterally, nor does the contract contain a promise to terminate the contract early."

Seems Frontera are pretty robust in their statement. If this is from Monday May 4th then perhaps that is the statement that was talked about that we are waiting for. No mention of an OOCS or new company formation with the GG though. Whether that is part of the stuff in the Arb that Frontera references as too sensitive to allow the disclosure of the Arb verdict to the general public who knows. We do at least know what was suspected that FRR were not agreeing to the Arbitration verdict (in full & accurate) as a result of sensitive information that the company cannot release due to it situation.

Maybe we might get more info to follow shortly. Other than that it does seem that the GG are overreaching in their statement on termination of FRR's contract and that FRR aren't going to take it. Some good news here at least. I think & hope FRR will work forward from this and sort it all out before long with a bit of luck.

Seingred, it could all depend on interpretation of the verdict and anything the GG and their lawyers chose not to disclose to the general public in their statement.

It seems strange to me that the GG are saying that Frontera are refusing to allow the official arbitration verdict to be released but yet they have released their own version. Surely they should not have done this if it mirrors the arbitration verdict as it is in effect releasing the verdict without FRR's agreement. Unless of course it's interpretation of the verdict makes it not so much of a mirror image as it may be less than accurate, perhaps.

Sounds like both sides FRR & the GG view it differently and staunchly so. I have spent about of time out in the former Soviet Union though not Georgia and know these sorts of ridiculous opposing arguments can rumble on for quite some time with each side staunch in their position that the other side has done wrong, repeating the same argument over & over and generally getting nowhere. If FRR had a deal with the GG and I believe they could well off done then it looks like the GG aren't going to easily come to it. Looks like at the moment the GG are throwing their toys out of the pram. I don't know how this is going to end up, whether the GG will get over themselves given time or whether it's going to turn into a full blown thing, maybe with US congressmen getting involved again. I think it might be that the GG aren't happy with the arbitration result and are throwing a wobbly because of it. Maybe they might calm down in a few days.

I understand Tenners, technically there should of course been disclosure as to the reason as seems to be the case. I don't necessarily see it as a dodgy being played and if it were to later transpire that shareholders lost out due to it then there could be grounds to follow that up. I reckon it was just the case that either they were asked/agreed to resign by FRR or perhaps FRR told them of the legal case that they would not be able to comment and the Nomad weren't happy with this and they resigned.

I don't really see it as the pressing issue at the moment. If something was started up on it I doubt it would get us anywhere. It could end up more for Zaza to deal with when he needs to be focused on a deal with the GG. I'm hoping that more news will be coming out shortly and it will be positive. If however we go on towards the 90 day termination date the GG set with too many weeks of radio silence then we may need to start making a fuss to crack open the company to see what really is going on. At the moment though I think wait and see if Zaza can sort out the situation as it stands and deliver for all of us, himself as a fellow shareholder included I presume.

No news as yet on the news we want but I noticed this article on Frontera upon googling. Probably already been posted but in case not:

https://jacobinmag.com/2020/03/frontera-resources-georgia-republican-congressmen-russian-interference

Looks like from the article Frontera was originally part of a long term US strategy to build up strong allies in the former Soviet Union Republics as a bid to stop Russia from getting too strong whilst cashing in along the way of course. That strategy hasn't to date been wholy successful taking more time and effort than envisaged it seems. Yet it appears to be on the edge of potentially becoming successful should Frontera & the GG work this deal, or it could end in failure if it does not. It reminds us that there are powerful US interests that no doubt still lie with all of this, if Frontera is still a US led strategy then if they go the US and all its military might may go also.

Tenners, there's not necessarily been any improper activity, at least probably not any to the detriment of shareholders. The Nomad going was probably a good thing for shareholders as strange as that may sound to some since we ended up with radio silence. Had Hope known of the transfer he would have blocked it and the whole company would probably be in his hands now. I doubt we as shareholders have got anything to gain from any issue over the Nomad. Win or lose on this share it is likely that Zaza played it straight up as far as shareholders are concerned. I think he is probably the best guy to have running the company, he is Georgian and knows the culture & terrain out there. Like it or not a western guy at the helm would likely run into more trouble as they would unlikely know how to deal with that sort of stuff out there. At the moment I assume Zaza is negotiating with the GG to try and put aside the recent post arbitration sillyness and get the final deal done. I'm hoping now the GG have claimed their publicity victory they will get down to sorting out this deal with Frontera.

I recall too that later after the delisting FRR said they decided to delist. The Nomad came out with no good reason to delist as far as I was ever aware which they normally are supposed to when they inform the stock exchange I hear. I wonder if FRR's solicitors told Zaza that they should delist or they would be compelled to have everything reported by the Nomad. That or Zaza already knew that or the Nomad told them that being silent during it all was not an option for them legally.

I can see why the Nomad had to go on that basis as said before while it gets frustrating not hearing news it would not be helpful for FRR as Hope would challenge every move Zaza made to get away from his clutches. You can imagine Hope saying, ' You say you are going to do/doing that are you, well I will do this'. Like it or not this silence strategy has helped us avoid Hope taking the lot so far. Still we have to wait to see if ultimately this will lead to any success for all of us investors, Zaza included.

I think tsbs has got it right, this is what the case most likely is:

"RE: Georgia still needs Gas !Today 12:17
you are missing the point though rainbow

They want to cut frr out of the deal and negotiate their own deal with a consortium

They think the arbitration result has given them the green light to do it.

Just like ripping the port contract up

In all likely hood a very small group of people will receive all the cash into their own bank accounts

They want to be oligerogians"

There is probably a company/deal set to go on this as in the case of an OOCS cemented in the arbitration. Zaza probably sees this as the case and it was signed, sealed and done by all parties. However some idiot in the GG is probably grasping at straws and thinking that while the arbitration probably didn't declare a material breach by FRR perhaps they didn't pointedly rule one out so therefore their original claim that one had been committed stands.

It could just amount to noise then they come to their senses or it could be some greedy selfish idiot in the GG thinking they can grab onto this and go off and try and claim FRR's slice of the pie as well in a new consortium with a SM. While it could go to court to be sorted out (again) it would've better for all parties to just get on with the deal they all agreed to and get the job done.

Quite possibly the joint statement that Zaza is rumoured to be after making with the GG maybe to tie it all together on the basis of the deal they struck rather than have a big and probably ultimately useless shouting match back and forth.

Hopefully we won't have to wait too long for this interview, joint statement or whatever and it will be along the lines of what b-2-0 said here, it makes sense to me that they proceed as such.

Hopefully this interview won't be about how he had something then it all fell apart, lol. As far as the info from B-2-0 etc was concerned it was about this new company being the real deal by way of an OOCS as part of the Arb process. Hopefully this interview will confirm that as that is what we have been led to believe on this board. Whether there is anything else on top of that I guess we'll find out tomorrow. Hopefully it won't be the sort of disappointment that we have been used to on here.

Mole, the OOCS rumour came from B-2-0 & JrJnr, possibly a few others. Think Shatner etc possibly found evidence that suggests it may hold water. There was talk of it back around last Nov judging from the reported goings on of the Arbitration and arbitration delays, etc. So there is a fair amount of conjecture to point to it being true, some might even say more than that. To my mind it makes every sense to get someone like BP in there for both sides, Frontera & the GG. It makes the best sense that this follows straight after arbitration for both Frontera & the elections. Like you say all the noise from all the posturing is unhelpful and in my mind not needed. Yet it seems to be the way out there. I hope that it is nothing more than political noise for the forthcoming election. I'm hoping tomorrow will clear the air in a positive way for us shareholders and not put us through more bs.

Thanks Arsenal, most appreciate it :)

So to sum up I surmise at least one of our posters got hold of a Journo possibly one that has written previous articles on FRR or possibly not. After hearing the dire straights shareholders were in he agreed to let wind of some info they were due to publish shortly anyway, Tuesday apparently. So we don't necessarily know all the ins & outs we will have to wait for Tuesday for that but from what the Journo said it could be looking more rosier than what it was being somewhere along the lines of what was rumoured here probably.

The GG has said it will revoke FRR's license in 90 days. We do not know concretely what is behind this other than them saying it was material breach of contract. I'm thinking it could be a way of blocking FRR from backtracking on the OOCS (we presume there was an OOCS) just to be on the safe side to make sure they all go ahead in the new company before Elections come around. If this is the case or similar then that could mean we will do ok here.

I don't see this as a 1p back per share. Whether we like it or not this is a high roller, we will either make a lot of money from this or nothing.

I've put a few grand in this share, I could do a lot of positive stuff with the money if it came good. If it doesn't I can still go on, I will be the poorer for it but I will get by. I know some on here have way higher stakes than me. I'm hoping Tuesday or soon after will bring us some positive news we can move forward with. I've always seen a accomodation between Frontera and the GG as the best way forward. That and a SM (BP?) ultimately only being able to deliver what all of us want and need. It makes sense to my mind that they come in now and essentially buyout Frontera so this can be delivered. So hopefully just a couple of days for us to find out.

So what has been put here of late is only half the story/part of the story and we're going to here a news article on Tuesday of an interview with Zaza about the whole story/most of the story?

Indeed, better to be optimistic. The info some posters put on here the other day seemed to have some detail to it so maybe. It could well be that the GG came out first with their version of the Arb verdict to call it a win for themselves. Zaza coming out afterwards and calling it a win for Frontera might have well pushed them to release a statement on license revocation. I hear it's a full on macho alpha male culture out in those former Soviet Union countries. Neither side probably wanted it to be seen as a loser in an arbitration result that may have already largely been agreed in an OOCS. There was talk on here back in November of an OOCS being reached but the Arbitration deciding that the whole arbitration proceedings still needing to be seen out to finality. There is certainly a lot of history of news that has come to light that ties in with an OOCS scenario over the past year that has come to light on here. Likely to be something behind it I would have thought.

One other thought is that are the parts of Frontera that are going to have the license revoked would have to anyway if it was going to a new company through an OOCS this Frontera Western is it? or whatever it's name is. Other than that it all seems a bit strange going through all that noise about revoking FRR's license if there is not substance to it. All in all seems there is a fair bit of strange goings on with us investors not really sure what to think. Still awaiting further news it appears.

Is the notice to revoke the license more of a threat, i.e five us back the 99 percent (ish) agreed at OOCS/Arbitration or we will go for your license as in 'don't jerk us around'. I know some one a few posts back said it's sabre rattling and that could well be true. It may just be the way business communication is done out there as in no one likes to be seen as weak so it all goes a bit aggressive even when/if deals are already done. Who knows maybe Zaza gets on well enough with the GG and it's all a bit of messing around or a wind up to Hope. Maybe it's being done to bring him to terms quickly as if it were to happen like us he would get nothing. Whatever the case as a western guy I would feel happier if I knew for certain that wasn't going to happen and it was all a bluff, etc. I would be more happy if a OOCS deal as rumoured here was made official in the near future. Until it does we still have this 90 day thing hanging over us and not knowing for sure whether it's going to swing one way or the other. At least we have some reason for hope that we had little of the other day which is something. Now it seems we just have to wait to see which scenario comes true it seems.

I read back on here late last night and this new news if true was a welcome sight to see indeed :) I know that we cannot count on non-official news so will have to wait and see what really does happen but it sounds very feasible. We know that a SM was interested way back before the Hope situation arose and back late last year there was rumour of an OOCS with the GG and seemingly some delay in the Arb case as far as we could tell which might support that. Then there was the new company registration details that someone on here found around the same time, or at least that is what it looked like.

One factor I had not thought of again until this news cropped up is that if FRR was done over by the GG what SM or indeed any other oil company would want to touch working in Georgia with a long barge pole? Probably would struggle to find any and they would need their expertise to access the oil. Even a big SM with deep pockets and a lot of clout would likely steer clear of countries that had a history of depriving a western company of their assets by arbitary action.

The GG are going to need a SM to work to get out the oil & gas quickly, FRR know they need a SM and have done for a long time to make a go of it for them. A SM would want a large slice of the pie at any rate. So it would stand to reason that a deal like this should come about. Again we still know nothing for sure but if this is true then the next few weeks should just be tieing up measures and we would likely hear soon on this deal. If it turns out to not be true then it's just left down to Zaza to play whatever he has got left. I for one think it could well be true, there is many a reason for it to be and would tie in with a lot we have heard.

To me such a deal sounds similar to the great manoeuvre Zaza made in moving the asset to keep it out of the hands of Hope. It would be a masterstroke if it is true which as I said think is likely and a good end to this saga for us all on here.