Member Info for WHamBoy

Has allgore’s post been deleted already?

Thanks - I’ve been very grateful for all your efforts over the past year. Here’s hoping your conclusions are correct. As for the departure of the three lawyers/moneymen, it does suggest to me that we no longer need their services. Whether it’s because we have sold or lost the block, I don’t know.
If we reflect however on the Texas court case, where Hope wanted FRR shares, he at that point at least believed them to have value. And the arbitration rules seem to suggest that it is not an all or nothing negotiation: rather instead there is potential for our percentage to be reduced but not zeroed.
So with my hopeful hat on, perhaps Levan and co really have moved on because BP’s moneymen and lawyers are now in control.
GLA - lets hope we’ll find out soon, one way or the other.

Cheers Ziggy. I think we’re in the same “hopeful “ camp then!

NJames - so 3 important moneymen for FRR all seem to have left - so either a complete buyout of FRR or the loss of block 12. Is that how you see it or is there a third “down the middle “ explanation?

Thanks Ziggyzag. So is it correct to say that you believe that this doc is probably saying that Hope is trying to reverse the transfer? Sorry I’m being a bit slow tonight.

What does that mean Ziggyzag?

keysersoze
We believe that Block 12 was transferred out of FRCC and into FRR Georgia (from memory). Whether legal or not, is up to someone else to decide. Some here think it is fairly watertight (Madpunter et al), others are not so sure (Starrage's gang).
FWIW, I'm with the third group calling themselves the "here's hoping we've got away with it" brigade.
GLA

Filtered jippyjazz!

For what it’s worth, I think Levan has left FRR and that the arbitration has been concluded. And I agree with others that we are likely to have got something out of this whole process, and it will turn out to be worth some money to us all. Fingers crossed guys, hopefully we’ll find out within the next few weeks. GLA

Does this imply that the arbitration has been resolved? It comes from Levan’s “cv” from the last link...
“Third case involved complex dispute between investor and host state government arising out of energy-related host government agreement, adjudicated by an ad-hoc tribunal of three arbitrators, under the United Nations Commission on International Trade Law (UNCITRAL) rules, venue - Stockholm, Sweden.”

Flakey
Yes I think we may well still be alive and kicking!
GLA

Thanks Madpunter

So Madpunter - does this mean that the bill has now been passed by both Houses in the US and is now law?

IMO Hope is playing the waiting game because he knows that FRR want to get the court case over and done with as soon as possible, so that FRR can conclude their deal with a major. Hope knows that if he waits long enough, FRR will throw in the towel just to get it out of the way.

News would be appreciated soon Zaza....no pressure!

Your guess is as valid as any other Coggy. I still have some hope and a little belief that this could yet come good. A few mentioned today that the fact that Hope would go to court when SN and Zaza could simply give him worthless shares must imply that either the law can’t touch them or that the shares are worth more than $2 million. Now SN clearly has assets in the US which the courts can go after, so to my mind that means the shares still have value, at least in SN/ZZ’s mind.
So if 500 million shares are worth the minimum price of $2 million, that implies each share is worth at least 0.4 pence per share. It’s not quite the £3.69 Madpunter quoted this evening, but some where in the middle would suit me fine!

I'm hoping SN and Zaza's refusal to pay what they owe is simply them holding firm until FRR eventually have the money to pay the bill.
The master plan as it presently stands...
1. Withhold money from Hope for as long as possible
2. BP eventually step in and buyout or JV block 12
3. Money becomes available for FRR to pay the money owed to SH and others
4. SN and Zaza's personal fortunes remain in tact - FRR have paid the bills rather than SN/ZZ
5. Their shares are now worth a fortune - definitely not something they would want to have had to hand over to SH for a paltry $2 million.
GLA

https://m.youtube.com/watch?v=wB9YIsKIEbA

GLA

Well that’s lifted my mood before a day at work. Well done Madpunter, keep up the good work.
Believers 1, Doomsters 0

Maybe, just maybe we are about to be bought out by a major and it’s all but done. In that case, with regard to Ukraine and Zaza’s no-show, we have now done our job by opening the way for that major to now bid in round 2. Under this plan, originally we were the little guy putting in a Dolphin bid on behalf of the major, and everyone understood that. But then the new Ukrainian Government got cold feet and a Plan B was needed - FRR were asked to facilitate the process being reopened (by the threat of court action), for the major to now apply for themselves. We don’t need to now apply of course, as we know we’re soon to be part of the major...
Maybe, just maybe.