Member Info for WHamBoy

Cumbrian bookies are renowned for their accuracy and knowledge of the latest city news.... Having said that, I’m not too sure which city they’d need to be in given this company's history!

Morning all. Hopefully some news soon.

2000 bopd would be good. Very nice ... (the oil that is, not Coggy’s arse!)

Thanks Madpunter- a few weeks then and who knows. GLA

Mad punter - please continue with your positive posts - they do help help explain where we might be up to. What do you think will be the timeframe for us to hear one way or the other on this?

I agree that on the face of it this doesn’t matter to the FRR that we are all invested in. The one concern is whether they are able to unwind the transfer of the asset. If Madpunter is right, then things will kick on from here and we will soon have news, and hopefully good news. God knows we need it. GLA

Hopefully this will make up for our losses in FRR Fools. Holding for the big gains here, certainly above 1p and with any luck closer to Castaway’s 2p target. GLA

I’m also one who reads every day, but with not much to say given the lack of news. Still hopeful, but with so little news, it’s hard. The points raised by Madpunter and others are all still valid, and if this comes good, then it could come really good, but in the meantime I sit and wait and read the BB for news of a pulse and signs of life. GLA

It’s not too late AP. A juicy RNS this morning will make everything right. We just need to get this show on the road. GLA

After all the waiting VAST, a good news RNS would be very much appreciated. No pressure AP...

Thanks for your explanation Madpunter. So we are clear that the registration of FRUS is complete and properly set up. Are you also saying that the asset transfer has also been completed?

Part 2 from SB

Dear Fozz - I would phrase your question slightly differently - what do you expect them to say during these troublesome times, especially as they are fighting for their lives with Hope and the GG [and until last week with the Ukrainian Gov too].

So during these times, look for indirect communication/signs of life, which I think we have been getting pretty regularly [although not always positive reading]. Take for example the “tell and all” interview with the Ukrainian paper, then you see them visiting the Georgian winery. Having said all that, it would be nice to hear from them directly but I feel unlikely presently.

I now think that the Arbitration hearing next month could be the new ‘make or break’ point. If they can reach some kind resolution by convincing the GG to convert the license to a long term ‘Production’ one, it may finally trigger either a farmout or the financing agreement; then the, Hope issue could become a ‘side issue’.

As usual, trying to maintain a ‘half full’ approach.

These are interesting revelations and may be a Georgian Lawyer is better placed to give us some clarity. For what its worth, i think there could be two requests here, 1) to create a new entity as a ‘foreign branch’ of FRUS and 2) request to transfer the PSA to this new entity. On the first one, perhaps the Georgian approved the creation of the ‘foreign branch’ - but on the PSA, may be still pending or suspended due to the arbitration hearing in October. Whatever the case, but noting SN and Zaza were masquerading in Georgia recently, as wine connoisseurs with the Texan and European wine contingents, was to put some indirect psychological pressure on the Agency? Who knows. But fingers crossed that they approved the PSA transfer…

Good post Sycric

Thanks for trying to post your thoughts this evening Arsenal (and everyone else of course). Fingers still crossed, but it all feels ok this evening. I too think that Zaza and SN are still working in shareholders’ interests. GLA

I’m having the same problems - only seems to work when I start a new post!

Arsenal - so has this happened this time? I’ve read the 16:57 post by Bezzy and I’m trying to get up to speed. Grateful for any help you can offer! If it has happened, and it is indeed a subsid of FRR US, then that can only be a good thing.

This all sounds very familiar - didn’t we attempt something similar in the recent past, where we attempted to set up a new FRR Georgia but failed?

Thanks Taffy

Thanks for posts today Tim, particularly if you are presently doing this work for zero pay. If and when FRR do get in touch, please implore then to make a statement to PIs as soon as possible. We certainly need some reassurance that we will all eventually come out of this positively. GLA