Member Info for pyrotech

I would suggest Court case would continue until all documents and deals signed and agreed. Just lawyers would insist nothing stopped until completed. They also get paid longer (more)

Zaza going may be very promising indeed, deals for takeover, deal with GG
It could also be that things come to light that make him look bad and so resign as CEO was only option.
We need to keep this balanced , until we find out more.

Can anyone confirm what Mr Carter believed this was about and if positive?
How did he know this 19 days before anyone else. What date did Zaza leave? before he announced it or after?

Plenty of super sleuths on here to now dig in a certain direction and reveal the answers which will give us a better idea of whether is a glass of champagne this weekend or glass of council pop

Seems our Mr Carter knew a lot about this two weeks ago.
Thats not a lucky guess, it seems someone in the know.

I wonder if he is on inside, legally or within FRR?
I never saw the posts so can not tell, but what else was said?
Was it positive or negative
JJ.Carter if here please share your info and thoughts ( without revealing sources if necessary)

Hi all
between work and a sensible approach on here to limit posting to remain within certain sanity level, i have missed lots of info over last 10 days.
I notice the latest court note, what do we make of that?
Had someone mentioned it before?

I expect the worst but hope for the best with this as really can not afford to lose what i have in this pipe dream, it is what it is and not something i can change so sat here just waiting for the legal and political games to come to an end.

I do not think FRR had an empty box, the box was pretty full i am sure.
However i do question why shareholders were not requested to increase holdings to pay off outrider, with reasons and fully explained plan. This really could have been sold to us at SH meeting.
Then Zaza and SN, if they know we are sat on a fortune, why not use personal money as a loan to pay off Outrider.

Were these mistakes made by the directors ? Is there a plan that we are not seeing? or were they stopped from doing something?

I worry a little as Mole has been there and was on contact terms with Zaza, when Mole is less optimistic it does have a bearing on how i feel due to that.
There are so many strands and explosive diversions that frr are currently centre of. If Zaza is no longer a director would that be good for us, or just a get out of jail card for him.

I hope Zaza has made a deal and remains a major shareholder but for the good of the company taken a back seat with the good of the company put first.
Any thoughts folks?

As always one step forward and two steps back

Did hope block funding thou?
I believe argument was he wanted the funding to be from him.
Frr wanted it elsewhere as with him it was just putting us in worse situation.

The issue then was the funding coming before debt to hope in repayment

That in its self is a mess

Did hope hold company back prior to this, in regards to operations and funding?
Was in in hope's best interest for company to fail making payments and initiate default or was it his best interest for company to prosper?
A huge tangled web of possible deceit and sabotage. But by whom?

So maybe this comes down to how the law in the state views contrast of interest of a director, how they view what Hope did as director and if that broke the law, then in judging that we have what FRR can prove in regards to if that contrast of interest has been detrimental to the company and shareholders. Plus who would have supplied money and where it would take us to.

If we did lose, and Liquidators sold the company, who values it? do they just try to get back whats sold in a fire sale or do they also have to consider other shareholders (US) and get highest price possible and in that case can shareholders receive excess funds in form of a one off final dividend?

There was me thinking FRR were gone for a few months, it's heading towards a few years now. However as others have said its incredible that the power is still on here. Huge resilience.
Mole thanks for clarification, stay well mate
2020 has been one hell of a year and can not see anything good happening until 2021, just the way the year has been

I might be barking up the wrong tree her.
Am i right in thinking that if Outrider won in New York that assets they would seize are currently worthless. That meaning that with the GG having currently revoked licence that Outrider would win 100% of nothing.

So that puts Outrider in a no win situation.
So the only logical move for outrider is to compromise and come to a deal with FRR in New York with FRR hopefully holding the key to overturning decision by GG and getting production going, selling all or part of block and so in position to repay debt to Outrider.

I am perhaps now going to step over the line with what can only be called a conspiracy theory, which would be that GG are working with FRR with all this, forcing Outrider and Hope to negotiate as is it not possible, they would prefer Zaza and team FRR than team Hope and Outrider. That assuming GG believe that Zaza would want more for Georgia citizens than Hope would.Outrider having no connections with Georgia. Thus If Outrider want anything from the case, money back etc that they have to resolve with FRR to get it.

Mole can you confirm also if its a case that you can not confirm or deny any communication with Zaza, i understand fully if you sharing information would jeopadise any future coms you may have. So a statement stating that you do not wish to confirm any possible communications you have had may assist here, so that we understand that you can not be questioned much on info that you may be privy too. Of course if no communications that can be just said.

Am i right that currently any win by Hope, would be worthless? That would leave them in dire straits. If so, just maybe there is a chance of that light at the end of the tunnel being real.

Been away a while but poke my head in now and then.

This Election is crucial. In my opinion the Belarus situation will help Georgia.
When situations like this happen they spread within a region.
Belarus have moved away from Russian influence, they voted against it and now protest against the corruption and rigged vote.
Yes he still stands but the foundations below him have been shattered, neighbouring Countries are supporting the people, and the violence that continues to suppress the people will harden the fight to remove him.
The Arab spring is one such event that sought a change in a region, but more locally we look back at Europe in 1989.
In October 1989 Chauchesko ruled Romania with a hardline dictatorship. The eastern block was strong and allied to Russia and the Berlin wall separated Germany.
Before the end of 1989 Romania's dictator had been killed by the people, the eastern block collapsed to freedom and the Berlin wall was historically destroyed.
When people stand up against suppression it spreads as locally people affected by the same suppression rebel and protest against it. Often you will see the Military leaders suddenly realise they need to change sides so that they hold their positions.
So its a domino effect where one nations people follow anothers on a road to freedom.

If you have a wish prior to the elections its that Lenchenco is removed from power in Belarus and new fair Elections are held, this will really energise the Georgian people.

one word of caution is that anyone who stands in the way of the dictator in Russia (Putin) and his ambitions can find their health rapidly being compromised. Russia will do anything to protect its boundaries and communist suppression. Zaza needs to be vigilant as he seems to be a stronger voice in Georgia against Russia than even the Opposition

I think we can all now rest assured that FRR were doing what they promised for investors, but meddling by GG has been the main issue here. This meddling helped Hope to go for the jugular, as we were being held back financially by the Govt.

Firstly i hope they get their cash back with interest
For us and FRR this can only be a positive, it gives credibility to what we are saying

The big question is do they care if USA etc stop investments and money, or even sanctions by USA on their financial interests, or do they foolishly think Russia will make up the losses for Georgia.

If this is a very strong influence by Russia, and Georgia are happy to lose support from the West, then its like flogging a dead donkey. If That is a worry (Cash and support from the West) then this could be resolved.

If they are stupid enough to allow Russia back in with empty promises, that means they get bullied and lose all independence, with Russia raping the oil and gas from under them, then they deserve all they get. If they have not learnt the lessons now then they never will.

What worries me most is that this is second time that FRR have lost a contract.
How did FRR lose Azer contract and where did SN get his money from to start again in Georgia.

How can any management of a company make same mistakes twice. Surely after the previous fiasco you ensure any new contract is water tight in your favour.

Holding onto straws that my retirement fund has not been stolen away.

Well done that is amazing translation
I have added my funding

Stay safe all
Pyro

Well we are all still here, who would have thought 2 years ago that this would be dragging on, just when we were hearing of two majors interested we get a hit from behind.

Most of our problem is Russian influence. Russia lost to much in 1989, and recently it has tried to influence many Countries. Firstly USA elections etc. However the ex soviet nations really do have Russian influence with fake news designed to hurt and manipulate the political and public citizens of those nations.
Many news groups in Russia are owned or controlled by the kremlin. Thats a lot of power and influence.
For Russia this is pride and finance, Many Russians are happy about Crimea. They purchased second homes and holiday there. Russia is concerned about NATO moving East. Perhaps most importantly Russia sells Hydrocarbons to Europe. That means it gets an income from the sale and power where it can turn off the gas taps if a Country goes against Russia. Power is everything to Russia.
So FRR are sat in a zone where Russian influence is extremely important. Georgia of course an ex soviet state. Possibly has huge hydrocarbon resources and sits where transcontinental major gas lines run to Europe. Georgia becoming a Nato Country would be a slap in the face for Russia. If large Gas reserves are in Georgia then that threatens Russia financially and its strength.
So are issue is the political puppets it Georgia who have strings pulled by Russia, do not underestimate the power of Russia to influence the political votes. The Georgian Dream party, are to all intense purposes a Russian party, almost directly controlled by the kremlin. Its an Ironic name as the dream for Most Georgians would be freedom, enterprise and their Country to become a financially strong nation. Voting for a Russian influence will be like trees voting for the axe , trusting it because its handle is made of wood like them. The vote in Georgia should be before October 2020, so there is a chance we see political change. However that Russian fake news worries me. I think the West need to entice Georgia with a Carrot.
So i am starting to wonder if we are seeing stalling tactics now until the Elections and just in hope of change at a political level. Is the USA influence and letters the start of a summer of fighting for influence on votes by the two sides.

There was me thinking i could pay off my house in 2020, i can not pay off my phone let alone House
Good luck all, stay safe

Hi all, yes i am a bit glass half full today
That letter is two sided thou

First side is obvious, USA influence is evident and very much welcomed

However the fact that letter is in existence, shows just how dire the situation is.
What worries me is that we have seen the voice of America a few times over the years, but the dream party seem to be blind to it. I suspect that Putin will be countering that with strong phone calls of support and empty promises to the Dream party.

All we can hope for is political change in Georgia

The issue with that is the interference by Russia on global politics, they say they influenced the USA elections and possibly even Brexit. It is so much easier to influence Georgia elections. Good luck all, we need it ....Stay safe

They think they will get it all from FRR
they think the 1% we have is about enough to cover legal fees

I am feeling like we have been ripped off by FRR , Hope and GOGC

Thats a large part of my pension gone, so i hope the thieves get what they deserve.
There is no excuses here, all those years and all that money and SN sat twiddling his fingers but taking a nice income from our money. Big talk at investor meetings, So called experts from the US of A doing the big talk too, striaght out of college.

If the company had been honest about Hope we could have funded his removal and clearing of debt
Then GoGC. we talk about corruption but arbitration is not corrupt, we lost. That means that fault was FRR, ZAZA and SN.

No wonder Zaza was not going to pay the workers from his money and claim back later
They knew they were in the wrong, i would not even be surprised if this was all a side show and this a deal with FRR management and GOGC, with back handers.
Today i feel sick
Covid 19 is not the worst disease to affect humans, greed and corruption is.

I been busy in work due to Covid 19, can someone please do a post that explains the significant posts and milestones in last month. I am constantly on works laptop due to virus and very little me time.

What i really want to know at the end is are we likely to come out smelling of roses or sucking our thumbs

Mole had other issues to deal with that were more important than this at the time.
What you also find with Mole, is that he only says something when he has facts or has heard from very reliable sources.

Mole had a lot of money in this , although thats not to say others with less shares do not. Its relevant to wealth anyway.

Mole was also in good contact with FRR, and i think that all communication was cut, probably on the say so of legal team.
Last i heard from Mole, was that he was not overly excited by the prospects, but that could be due to lack of info and the losses we may all face.

When Mole is ready and has something newsworthy i expect he will pop in and say so. Till then , as with FRR we just have to wait.
So Mole has not abandoned us, he just has nothing to share right now and may still have more important things to deal with.

Like most on here, i look forward to him popping in with news, i suspect he reads a few posts now and then.

It certainly sound like Hope is now happy to negotiate with FRR and thats a huge positive.

Why now?
Well it could be something in discovery, that hammer blow that has been talked about but never actually seen.
That could be on practise that OMF/ Hope can now be proved to have done wrong, or its release in public could implicate others in the mess which hope really could do with out, that sounds feasible as the discovery was kept private, so why private? I suggest because FRR wanted to show the evidence but put the ball in hopes court on its release in court.
Not a good idea to have big enemies in the financial world or political world.

The other possibility is that Hope/ OMF suddenly realised that if they won, there would not be a prize to collect. Whilst FRR have been in arbitration with GOGC the court case has been unhelpful distraction. We are at a point that Hope Could win the case and FRR simultaneously then throw in the towel with arbitration. Hope left to pick up a huge legal bill and a empty prize from FRR, with everything passed to GOGC.

What ever the reason this is of course positive news.
Arbitration, we just have to trust the lawyers on wording of PSA, if what Zaza has said in interview is true, and i believe it is, then GG have caused the non payment to employees. I remember before Christmas Zaza was sure we were weeks away from sorting the mess. Then suddenly it broke down again.
It's been suggested for a long time this was alot to do with Russian Influence, this of course makes perfect sense as this really does effect Russia in many ways both Geopolitical and financially to top the list.
I would also suggest that the proof of spend can be proved, it includes wages including to the BOD, as well as drilling costs , 2d and 3d scanning and other field work. We have infrastructure including a gas compression station and pipeline. Oil needed lots of trucking and storage all that is very expensive.
The arbitration would be first on my list, and i am fairly positive of a fair outcome. The informal discussions with OMF - FRR is a huge sign, the next step up is mediation. That is a good place to be (Mediation) so we really are at a level where both sides seem to be happy to talk and deal, on there own.

Think this is where i put the champagne to chill, just in case

One thing, it would make a damn good film about corruption, dirty states, politicians with agenda and liquid black gold,
But wuld that film have a happy ending?

There are a number of issues
1. The things we know that we know.
So those things are the arbitration is on going, WE have been taken to court by Hope and that hope is off the board.
We know also that the asset has been moved. We also know that BHGE and BP were in the mix in some manner. WEalso know that Zaza and SN also had millions invested and would want a return (aligned somewhat with us)

2.The things we know that we do not know.
Firstly we know the box is not empty but unclear just how full. The Arbitration, we have no idea how that is looking or what evidence both sides submitted. With both arbitration and court we have no idea if talks have been conducted between parties and if they have, how much progress has been made. We do not know if BHGE and BP are still involved, if a new major(s) are looking in or if that loan is still on the table. If any are then we also do not know what criteria needs to be agreed for them to initiate as part of the plan. We also know that we do not know if oil or gas is being produced, how much and by whom.
We also do not know if Zaza has a plan B to get money back for himself, if this falls apart, I.E money produced from oil since delisting has gone to their accounts to ensure they are not out of pocket. We do not know if Yorkville were paid off completely either. We have no idea if we are in the plan going forward if we survive. We know also Russia has a vested interest in FRR not selling a highly productive field in this region. These are the things we Know that we do not know.

Then the things we do not know, that we do not know.
This is the very dark area, these are the things that we are not aware of that we do not even know that we do not know about. This would include conspiracies that we have not even thought of. For example it would include the GOGC being part of a deal with Zaza to take the company from us, and see Zaza alright with a single payment later. Thats not a realistic option but there will be many things we do not know about and not considered. These can also be good things too, so its not all dark and mysterious.

Lastly the things we do not know that we know.
These are things we have seen but not registered as facts, For instance we know that BP were in a Confidential agreement with FRR, but we seem to have forgotten about that and that BP would not want a few millions barrels of oil. We knew how much oil we were producing and the cost of oil, so maybe we know what money has been generated over this period. Often the truth is right in your face but we can not see the woods for the trees.

So what does all this mean?
It means we know what we know, we need investigate what we know that we do not know and expect the unexpected with the parts we do not know, that we do not know.
As for the things we do not know, what we know, may be we need to step back and look at the bigger regional picture

Im staying off here tonight its full of fish and frogs
Even Coggy could end up being CODdy
Frog Froggy Picean and kipperman
We also have a crab or lobster poster too

Perhaps some famous fish quotes will help

Even a fish could stay out of trouble if it would just learn to keep its mouth shut.
Fish in another man's pond and you will catch crabs.
The biggest fish he ever caught were those that got away.

Don't be a fish; be a frog. Swim in the water and jump when you hit ground.

With that i am going to swim away and hop off

We have alot of new posters here that were very quiet when the share was live, just stating that first.

Drango, says a little sarcastic comment about getting a job i Georgia.
Fair point mate.

However does that not lead on to it being rather sensible to negotiate with the employer you have and work something out that is practical for both sides.
Best option is probably not to stamp your feet and down tools with threats when the other side is already with its back to the wall and fighting to survive for everyones sake. negotiation would probably been the better option.

I have no doubt things were difficult for all, but i also believe the path taken made things almost impossible