Member Info for Phil_2018

I'm holding out for this share to still be worth at least a return on investment then a few quid as a bare minimum after Arb. That would be assuming FRR can at least hold onto the areas it has already developed and maybe some VAT back. So at a guess at least around 1p per share, if the Arb went well then it could be way more at least 5p - 20p or more per share. I personally don't think it will get to a relist, it will be a buyout offer along those lines. Zaza & SN have to get rid of the Hope case as it's too risky to go ahead with. It was only ever a mechanism to keep Hope off from claiming the lot to my mind. The major that takes over FRR will pay of the claim/loan from Hope and he will be out of it. Once we have a decent but out offer that is all we need. No need to be sat here developing this field for the next 20 years or whatever.

An interesting aside from this is that Hope was after some FRR shares when all the issue of Outrider debt blew up. He still hasn't settled with FRR in all the time since. To me that tells me that he must think FRR have at least a reasonable chance of coming out of the Arb with a company of some sort of value or he wouldn't have been interested in the shares. In any case I'm hoping this all comes good soon and everyone can go their respective ways with something. With so much potential wealth here there is more than enough to go around without us shareholders having to suffer because of others greed.

Just wondering what's the worst that could come out of the Arbitration with FRR. Is the bottom line that the worst is that the GG take back the remaining undeveloped area leaving Frontera with the area currently developed? Would that still provide much back in a subsequent buyout?

Not long now, presumably, but would rather get some idea of the worst it could get. I'm presuming the worst case scenario is the above and not a total wipeout?

Yep 1st April today so we should hear this month. Or me the sooner the better, I would now rather like to know either way and be done with it. It's dragged on so long now. By rights we should be treated decently with all the work & investment FRR have put in there. I don't have much faith in courts, etc so I just hope I am not right in my reservations on this one and FRR get a decent outcome. Hopefully we won't have to wait too long into April to hear.

RR, I've been to Kiev several times but never got around to visiting the zoo. In fact I didn't realise they had one. I saw a report of a zoo else where in the world yesterday, think it was China. Sorry to say but they left all the animals unfed in that zoo to die. Appalling to hear but I guess in the crises they saw it as down on their list of priorities. Problem with Kiev & Ukraine in general is there is a lot of corruption. As visitors we don't often get to see it and the Police force is reformed and apparently now less corrupt than it used to be. Even still I would be very wary of donating money to zoo's or anything else there as the money could well not get where it is intended to go. Probably why the place looked underfunded, it part as it probably was but possibly in part to bring in donations from sympathetic visitors. Still it's a shame to see animals not treated well.

Hopefully, the Covid thing won't delay judgement from the Arb. We keep seem to end up in more waiting, waiting, waiting with this share. Just when we think we are about to see the light of day we find out that there is a bit more waiting to be done and as we get to the the end of that waiting just a bit more waiting on top of that! We are nearly in April so theoretically only days away from the Arbitration outcome. Would prefer just to know now whatever the case and hopefully get away from waiting on & on & on... I assume a lot of the arbitration work can be done remotely, maybe a lot is already done remotely by the arbitrators/judges. Hopefully, not long now, this time.

If I was working as any sort of Doctor or Nurse or had a wife that did I would buy my own mask. Until recently Screwfix & Toolstation were selling masks of all sorts. I would go for one of the proper rubber masks which I have due to needing it for DIY work, there much better than the paper ones and you can breath safely a lot more easily. Only cost around £20 for one and you can use it for a long time.

I certainly hope you are right Arsenal. FRR certainly deserve to have a positive outcome though I fear otherwise. I think too though that there is no reason a decision can't come soon on this and like you say by mid April at the latest seems reasonable.

Well a representative from the GG when questioned a few months ago reckoned a decision from the arbitration would happen in April. Might not be far wrong, I'm guessing we're not too far from a decision now.

I don't know the specific ins and out of the case and who is lying or stretching it a bit far. I've got to thinking off recent though and I'm not sure that the outcome will be that favourable to us. I hope is is but I am starting to doubt it.

My thought is that the arbitrators may agree that FRR have to hand back all underdeveloped land outside that which has been developed/research area to the GG. FRR might get some money back in VAT and that might be about it. They may not get back much or any of the sunk costs.

If it goes that way it could be particularly punishing for FRR. It would probably end up a case of flogging on the developed/research area to a Major and us as investors just getting back a bit more over the previous share price. I'm hoping the result will be more positive than that but I fear something like that may be it.

I agree Coggy, the Chinese gulf have learnt after the close call of SARS and really cleaned up their act. They should have banned the selling of wild animals and imposed stiff penalties for those that tried to. They should have educated their citizens how bad it can be.

Comes down to the outcome of the Arbitration. Some have said on here it is just the undeveloped areas the GG is trying to claim the 99 percent off. If the outcome of the Arbitration is real bad for FRR that it effectively sinks it then it's looking game over. If it is not that worst case scenario then it could be potentially play on. I'm hoping that with all that FRR have put in that there won't be an unjust verdict. On balance with what FRR have done for Georgia they should not be done out of it now and should receive a decent outcome.

So for all of us it is really just await the outcome in the next few weeks I'm guessing. Nothing really else to be gone into other than that. I'm hoping if we can carry on after the arbitration verdict that there isn't a load more rubbish to have to wade through. Better this is then sold on quick before something else rears its head and get rid of the Hope situation at the same time.

I think the final hearings in the arbitration were probably concluded in December. I recall FRR were protesting that the matter go on. I reckon that was them saying that it could be wrapped up then with a judgment/agreement but is being prolonged by the arbitration process going through all the formalities and so thereby drawing the process out.

The submission apparently on/by the 20th February was apparently for claim for fees and final submission. The final submission could be anything but I would guess a final concluding statement from either party as to where they are at in regards to the matter and/or administrative paperwork. I think all the arguing has been done. Now we are to just to wait for the verdict to drop. A representative from the GG apparently reckoned in April. I don't know if he had a cast iron date for that. For all we know it could come any time so brace for that. It could come earlier for all we know some time this month in March.

With all the cost to FRR with what they have done in Georgia over the years it would be highly unjust if the arbitration deprived FRR of its reward for all its hard work. They should really back FRR up in stopping the GG from taking unjust action upon FRR. I fear though that there is a chance we might be hit with an unjust ruling punitively hitting FRR, if that happens I don't know if we can appeal. If so that would be more waiting.

I'm hoping that this is all at least confined to a limited aspect and not the whole lot that may be at risk. I'm not sure what the first we will hear of the arbitration ruling whether it will come from the company, the media, Zaza & SN walking, or a insolvency statement. Obviously the last two would speak for themselves and the disaster we can assume has occurred.

It might be questionable in any other US or International company would want to invest in Oil & Gas development in Georgia if the GG has done over previous companies, they could be wasting a lot of money also for all they know. Besides I'm not sure if they would get better than a 50/50 PSA from a Major.

I think FRR should be able to claim the reward that was agreed to, they've out a lot of money in over the years. Plus the GG need some company to develop the field so it might as well stay with FRR who will likely sell on to a Major that can develop it more quickly anyway. 50 percent of a lot is better than 50 of little being produced.

That said I do rather fear a lot of bother out of the Arbitration verdict. I tend to find courts can come to ridiculous decisions about stuff that can be a pain in the rear. Hopefully they will see this for what it is, a greedy grab by the GG when the field proved to be a lot more lucrative than first thought. Either way hopefully not too much longer waiting to do.

Well the deadline for the submission for fees & final statement to the Arbitration is supposed to be in by today. So maybe we might get a bit of further idea as to the final judgement date soon?

I'm rather hoping they will have a deal prepped and ready for the final sign off pending off course all being well from a decent arbitration judgement. Makes sense to have something to move on straight away and I reckon Zaza won't want to miss a trick by doing that. Apparently a representative from the GG reckoned the Arbitration will rule in April on the final decision. That will leave several months before August. If most of the work is done on a deal and it's mostly just signing off then that should give more than enough time, could maybe done within the month. I'm not sure if the guy was working of a definite date in April so maybe even a date in March might be possible.

Yeah, the thought of FRR going on and developing and so leaving no room for investor payback doesn't thrill me. I'm hoping that is more a theoretical view that would be fulfilled by a buyout company. From what I see it looks like it would be best to get a buyout deal signed & sealed as soon as we get out of Arbitration, if we come out of that in any decent shape. Going on to unnecessarily fight the Hope case just looks like it would be a pointless world of pain with little to gain for FRR. The resources in the ground proven up as they are now was always where the money was and all that was needed to be done, we have that now so best that FRR is cashed in and the money shared out to shareholders. That all relies on a decent outcome from Arbitration though.

If your a weaker country you have to accept what the reality is. At least Georgia have a choice between Russia & the US. If the US had no interest in the region then Georgia would be stuck with Russia and probably end up somewhere between a puppet state and outright invasion of all of Georgia.

The US option at least gives Georgia a fair degree of control & autonomy. It also means the Georgian Government get tax from oil & gas revenue and less reliance on foreign sources for it, especially Russia. The more the oil & gas industry gets developed there the more stronger Georgia becomes and that means less under the heel of foreign powers. They just need to come to their senses and realise the US is the only option that offers them any long term Independant future at all.

Serge, I think the April date mentioned here from the broadcast is probably the case. The final fees & statement apparently was to be done for submission by the 20th Feb I think it was. As legal processes go several weeks is usual for it to all be gone over and a decision reached. It sounds like there is probably a firm date or at least a written...'it then takes us X weeks before final decision' for this April date to be banded around. Possibly it might not be certain & might happen in March but odds are it will be April probably.

Outcome of the Arbitration could take us all by surprise & shock and not in a good way for us, so brace yourself for that. I would see it as good fortune if FRR came out of it well. Even a bit given to either side would probably be a good outcome for us. In fairness I think FRR should get a good outcome but I fear we might be stuffed over by the Arb. After all the millions put in by FRR over the years it's a bit rich for the GG to say 'we never told you to put in that much'. It's an oil & gas field of scale at the end of the day and nothing would have been done from spending precious little, big money was needed and is still needed to develop that resource.

If we are fortunate to come out of Arbitration without daylight robbery occurring then I think Zaza would have to move straight onto either a big corporate loan/JV or and more probable go for a buyout deal. The value is essentially what is in the ground and it's well known off now. Developing the field would take years and FRR aren't best placed to do that. A buyout would also deal with the Hope problem. I see it as the Hope situation as too risky and too much bother to deal with when a buyout would solve all of that in one go.

The box isn't empty but it's a case of who wins the fight for what's in the box.

Did the statement say we now had 60 wells? That's surely more than the intitial few we had when we started drilling 18 months or so ago?

Perhaps the guy who commented on here the other day about FRR needing to put out some PR to fight their cause was noted, who knows.

Anyway, this is good news to a point. It demonstrates what FRR have put in over the years, what they put at stake. Still the decision on the Arbitration to wrap this one up hopefully in a positive way for us.

If there are big backers in FRR they are going to be mightily cheesed off if the GG do over FRR. It would scare of most investment in Georgia and most likely make the US withdraw it's military support for Georgia.

If the Arbitration is just about one area of block 12 as said yesterday then that reduces the risk a bit. With all the investment FRR have made into the area over the years they should get a positive result from Arbitration if there is any justice to be had, anything else would be disappointing.

"How can one run a company with a workforce that does not get
paid? Unbelievable."

Many charities manage just that :))