Member Info for WHamBoy

Anyone else been watching “State of Happiness” on BBC4. It’s a drama about the early days discovering oil in Norway. ConocoPhillips from memory.

Tsbs1 - this is what B-2-0 said bck in January regarding the mystery investor:
"B12 split, FRR Western to hold alll currently proven assets, Eastern to be returned to Gocg ( Basin edge, shallow fields). FRR Western jointly owned by FRR/GOGC, however, FRR transferred holding to investor (BP as part of deal. 2020 the alliance is initiated). Bushido B20"
Can't be clearer than that.

So am I buying the new car, the new house, and the new yacht again? it was great to hear from B-2-0 again and if this all stacks up, then we'll all be very much relieved, very much vindicated and very much richer. If it doesn't transpire, I'm back to that humble pie again. JRjnr where are you?

Thanks Looed. The second translation may be closer to the mark. Let’s hope the US pressure pays off.

Buggy - is it me, or does this paragraph sound quite conscillatory in its tone:
"Whatever their goal, they still have the political pressure on the Georgian side to stay in the region. On July 27, the deadline expires and the company will lose its rights to conduct oil and gas operations in the contracted area and these results must be avoided," Georgia said. Vazha Khidasheli, Corporation Advisor .“
To me it sounds as if they want FRR to accept reduced terms on the 1%. What do you think?

Thanks Investmentboy.

Mine seems to have gone ok Erazzel. Fingers crossed.

Am I right in the following? If we start work on parts of the 99% within 90 days we can prevent them from having to be handed back to the Georgians.
If that is the case, is that why the GOGC are so nervous? If BP deal gets signed before then, all the good bits with good data will quickly have drills on site and wells dug, thereby allowing BP to retain that land for no additional charge. The Georgians are simply trying to ensure they are able to sell as much of the 99% as possible as their share of the SM deal. Zaza likewise wants to retain as much as possible for FRR. The deal is simply about percentages?

You’re so cosmopolitan Coggy!

And suddenly they all reappear on my phone! Fingers crossed for today.

Have we lost some messages this morning or is LSE playing up?

Errazzel
Taken from the 1st post of Madpunter’s archive:
“IMHO a figure somewhere in the middle of the range is most likely for a buyout of Block 12. Therefore, halfway between $2bn and $20bn is $11bn, which equates to a share price of 53.5p ($11bn = £8.44bn @ current rate of $1 = £0.7675).“
So the $10 billion claim by JRjnr is remarkably close to Madpunter’s original estimate of value.

B-2-0 is hinting that the GOGC only let the transfer take place because BP were on board and willing to be the new “investor”. That seems to have taken place in June 2019.
B-2-0’s talk of sabre-rattling also implies that the GOGC are happy to stick to the OOCS as long as the SM (BP) continue to be involved.

From B-2-0 1st Jan 2020
”FRR Western jointly owned by FRR/GOGC, however, FRR transferred holding to investor (BP) as part of deal.”
From B-2-0 yesterday
”when the OOCS was signed and the controlling entity setup FRR transferred their share to an undisclosed investor (and it's not GOGC because they own 50% of the company)”
So the investor mentioned in B-2-0’s post yesterday does seem to be BP.

With your estimate of value and my number of shares, I'll be buying a new house to put my new sofa in! What makes you so confident JRjnr?

EKXoc - regarding the scary movie analogy, I've been hiding behind the sofa for a number of days now! I just pray that B-2-0 is correct, that JRjnr's assessment is correct, and that our patience will finally be rewarded. GLA

Are we going to be ok B-2-0? What’s your take on the legality of the termination of the PSA by GOGC?

Spot on Zen. I too wish I’d never learned this lesson.

Mole stated the following criteria for termination of the contract.
“The State may only terminate the Block 12 PSA on ninety days’ notice if Frontera Georgia has committed a material breach of the Block 12 PSA (being a fundamental breach tantamount to a frustration of the Block 12 PSA which may include failure to complete any work programmes approved pursuant to the Block 12 PSA) which is proved at arbitration.”
So to my mind, it all comes down to whether the arbitration declared this to be a ”material breach”. If they did, we’ll lose in court. If they didn’t, and it’s more of a nuanced decision, we may well win.
And as Goit suggested, ZZ certainly seems to think we are still alive and kicking! Have the GOGC overplayed their hand? Did Zaza’s fake news comment cause them to issue a statement in a fit of pique? Will cooler heads prevail in the morning? Let’s hope so.

Fitch revises outlook on Georgian Oil & Gas Corporation's to negative
https://en.trend.az/business/economy/3231388.html