The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Not quite the slam dunk from GD, as we are now in the spirit of compromise. Any optimism should be tempered with caution. It would seem hopefully, that thre government can see the value of allowing FRR (supported by US) to carry on, but at what cost. They will clearly be pushing hard on any news agreement.
However, it's a glimmer of hope, and perhaps everyone can move on to developing this massive hydrocarbon basin for Georgia, with FRR rightly getting a fair return on our investment.
Does the breach extend to areas 'inside' the defined developed areas. Could these have been excluded and not considered by the arbitration.
ODR...
I understand what you are saying, but could it be the case that the area already explored and discovered such as Taribani, is now set outside the dispute and this is an agreed fact before the arbitration.
Therefore the remainder of the contract area, is in fact the 99% that's left.
I'm sure there will be annex documents to accompany anything you've seen.
Starage, do you think it's plausible that there is an annex to the paper you have, which you have not seen. Perhaps it excludes those areas around Taribani and the gas area because it's accepted they are already explored or discovered, and thus no longer included in the dispute.
May be its perhaps worth having a closer read, it may through something up? Hopefully a glimmer of hope for us mere mortals!
Material breach v Fundamental material breach. Isn't that the question.
Frontera may have committed some material breaches of the contract, but are they so fundamental to allow the termination of the areas under commercial development. Answers on a postcard?
Looed, a great effort and I'm sure many will be happy for you to lead.
If this all goes belly up, I think it's most important we know what Zaza is saying during his interviews. If we come out victorious, we really won't care about the noise in the media. These can always be roughly translated via Google etc.
However, if we don't, the direct translated comments of Zaza and Georgian officials will be what's important in my view.
Good luck.
£20 donated to a good cause.
Fellow Fronterians,
A little more of the same... let's hope it keeps gaining traction in the media.
https://agenda.ge/en/news/2020/1760
Phil,
Your response is much appreciated, and I respect your postings so I'm not picking an argument.
However, I'm struggling to see the thinking of the below...
"there's not necessarily been any improper activity, at least probably not any to the detriment of shareholders. "
I think most retail shareholders would argue that the NOMAD pulling the plug before the start of a trading day and without warning has exposed their trade/ investment to risk.
Ultimately, the NOMAD may have a good reason to have done what they did, but surely it would be incumbent upon then to report suspected corrupt, improper or fraudulent activity to the FSA.
Something has spooked them, and they must hold some responsibility, otherwise why would they be regulated in the first instance.
Their actions just don't sit comfortable with me.
Whilst the FSA will most likely say they are not interested in AIM or a Caymen company; do they not regulate the NOMAD's?
It was the NOMAD decision to pull the plug, KNOWING it would cause the share to be delisted and expose investors to risk. That didn't seen right.
What did they know, that investors didn't? And ultimately, have they reported any improper activity to tbe FSA. I'm sure they'd be obligated too.
Good morning everyone,
Whilst we walt for further news, I was having a think about the NOMAD and what role they have played here. They seen to escaped from this unscathed, although they are regulated by the FSA I think?
Ultimately, it was their decision to suddenly suspend this share which has exposed most on here to losing their investment.
We're they really doing what they should have?
Could they have taken another less damaging course of action?
What responsibility do they have to report their concerns to the FSA?
Unfortunately, I'm working today bit I know there are some great and knowledgeable minds on here.
I hope everyone has a nice day.
Certified reserves of 14 Billion barrels of oil, and 14 Trillion cubic feet of gas. This is what Frontera have declared, and would be sufficient to boost the Georgian economy.
Not the best news recently and there is clearly an information vacuum here, which certainly makes the light at the end of the tunnel seem much further away. Perhaps the GOGC claims do suggest Frontera have been left with some crumbs, although how big are the pieces. I recall the Frontera letter in July last year, which was used to appealed the Dolphin project. Frontera claimed "discovered and certified oil and gas RESERVES in excess if 14 billion barrels of oil and over 30 trillion cubic feet of gas". Well if this is or 1%, well surely it still has significant value.
If it's not the case, this charade is laughable. So much so, it's more fitting of a spy novel, and akin to those stories that used to be peddled around this being a CIA front. Perhaps Nicandros, Zaza, half a billion dollars and a bunch of dodgy lawsuit attempts provide the perfect exit plan...lol.
As a junior miner, what's not to like?
Great RNS and it seems undervalued to me.
MCAP 4M, with a tight share register.
Hummingbird and Farmers are significant holders.
NPV circa 30m usd
Initial mine: 18 month payback, with 19m usd cash flow pa.
One thing I feel confident about, is that this is not an outcome that Hope was wanting to see.
The timetable (if correct) kicks Hope's ambitions, well into the long grass. Hopefully this will allow FRR to concentrate of the immediate issues, like agreeing a sensible way forward with the GG.
Translated -
Nikoloz Janiashvili, Mayor of Dedoplistskaro Municipality met with the head of the State Oil and Gas Agency of Georgia, Giorgi Tatishvili, with the employees of the Frontera Oil Company.
According to Frontera representatives, the company has not been paid for many months.
“Although the enterprise is private and it is a dispute between private entities, more than 130 Dedoplistskaro's work in it, the fate of each of our compatriots is important to us. Therefore, the government will protect its citizens as much as possible, ”Nikoloz Janiashvili said at the meeting.
According to Giorgi Tatishvili, if there is a deal between Frontera and the state, the government's No. 1 pledge would be to pay off the company's debt. The head of the agency also noted that there are alternative ways. In case of any of them, the interests of Frontera employees will be protected.
Representatives of the oil company thanked Nikoloz Janiashvili and Giorgi Tatishvili for their support and expressed hope that the problem would be resolved soon.
Good morning, this sounds really positive but can the comments or report be providenced. Do you have a link?
Thank you.
With certified reserves, it would seem much more likely that they have been able to access capital in advance of any final agreements.
Sorry... 14 billion barrels of oil.