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| Share Name | Share Symbol | Market | Stock Type |
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| Frontera Res | FRR | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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| 0.00 | 0.00% | 0.2875 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
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| 0.2875 | 0.2875 |
| Top Posts |
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Posted at 13/1/2022 15:12 by brookemia SK2, not everything is so transparently obvious as you continually keep berating investors.I would love to see the stretch of water, that you 🤬🤬wa No man is an island🤔 |
Posted at 22/7/2021 19:04 by brookemia They think it’s all over…..it is now🤥💰London-listed oil and gas company lost a high-profile international arbitration case with Georgia after spending $1m on lobbying fees to pressure the country’s government, openDemocracy and OC Media report today. The dispute between Houston-based Frontera Resources and Georgia’s state oil and gas corporation dominated the country’s headlines in early 2020, after US politicians attempted to intervene in the standoff over allegations that Georgia was ‘expropriating Frontera had originally promised to help Georgia acquire “energy independence” and high returns for British investors after it claimed to have found 3.8 trillion cubic metres of gas in the east of the country. But a dispute between the company and Georgia’s state oil and gas corporation over exploration and production territory – including whether Frontera had confirmed viable oil and gas resources – eventually went to arbitration. Between 2017 and 2020, a number of US Congressmen and Senators sought to pressure Georgia over the Frontera arbitration, drawing on the US’s strategic interests in the country. For the South Caucasus state, US support is vital in defending its interests against Russia, which backs the breakaway territories of Abkhazia and South Ossetia. Meanwhile, Frontera, which was traded on London’s Alternative Investment Market until it was delisted in 2019, has left former workers unpaid – and shareholders with apparently little recourse to retrieving their investments. Frontera currently owes $240,000 in unpaid wages to former employees in eastern Georgia, and there are believed to be roughly 200-300 shareholders in the UK whose shares have become worthless since the delisting. The final arbitration decision was made in April 2020, and both sides claimed victory. Under international arbitration rules, little information is publicly available about the details of the case, including which side won – until it was recently released in a legal dispute between two Frontera executives. Nazarlebi Frontera Vashlovani-16.jpg Image: Shota Kincha / OC Media Political connections Frontera was originally incorporated in 1997 – and aimed to capitalise on new oil and gas opportunities opened up by the fall of the Soviet Union. The Texas company was founded by a team with strong political connections: Bill White, the former US deputy secretary of energy under Bill Clinton who helped “put Caspian oil on Washington's agenda”, Steve Nicandros, son of a chairman of US oil giant Conoco, and Lan Bentsen, son of former US treasury secretary Lloyd Bentsen. “There was a period in early 2020 where almost every week, there were some blackmail stories about Georgia in relation to Frontera, which suggested that the Georgian government ‘is acting against the Americans’ [or] ‘the country is going backward in its democracy’R Frontera, which was registered in the Cayman Islands, took early concessions in Georgia and Azerbaijan, and later signed memoranda of understanding in Moldova and Ukraine. In 2005, the company listed on London’s AIM market – noted for its light-touch regulation – where it raised $88m to fund exploration in Georgia. Promising sizable returns for investors off the back of successful development of Block XII, the company continued to raise money via AIM until 2019. “Our ongoing investments in Georgia have continued to reveal the emergence of what we believe to be a world class gas play with the identification of the South Kakheti Gas Complex,” said Frontera chairman Steve Nicandros in 2015, when the company announced it had found 3.8 trillion cubic metres of gas in eastern Georgia. “Much like the recent evolution of similarly prolific gas plays in the United States that have transformed the USA’s energy independence trajectory,” said Nicandros at the time, “our results continue to indicate that Georgia has the natural gas resources to follow a similar path.” But in 2017-2018 Frontera ran into problems in Georgia, where its single asset, the Block XII production and exploration area in Kakheti, in the east of the country, was based. Screen_Shot_2021-05- "What does Oscar the Grouch from Sesame Street have in common with the republic of Georgia's oligarch Bidzina Ivanishvili?" Congressman Pete Olson, January 2020 | Image: Twitter / Pete Olson According to the final award, which was submitted by a Frontera executive as part of an employment dispute in Texas in May 2021, the dispute centred on Frontera’s refusal to return Block XII after its production sharing contract – a document which determines the rights and obligations of investors and host states over oil and gas exploration – expired with Georgia’s state and oil gas corporation (GOGC) in November 2017. To pressure the Georgian government, Frontera drew on its political connections, in particular via chairman Steve Nicandros, a prolific political donor. Between 2017 and 2020, Nicandros spent $182,950 in campaign donations to US Congressmen and Senators. As previously reported, 16 of these politicians supported draft legislative initiatives or public outreach lobbied on Frontera’s behalf. This lobbying campaign framed the threat to Frontera’s interests as a key part of Georgia’s broader democratic crisis in 2019-2020, and included draft legislation targeting Georgian officials with sanctions over alleged interference in the activities of US businesses. To coordinate this, Frontera spent $850,000 on lobbying fees with Washington public relations firm Cornerstone Government Affairs. Between 2014 and 2017, the company also donated $359,000 to the Atlantic Council, a powerful US think tank that focuses on energy, politics and security – and where Nicandros and Frontera executive director Zaza Mamulaishvili served on two separate boards for the organisation until 2019, according to a spokesperson for the Atlantic Council. DSC_5049 copy.jpg June 2019: Protests against a Russian politician sitting in the Georgian parliament catalysed a political crisis in the country | Image: Mari Nikuradze / OC Media “There was a period in early 2020 where almost every week, there were some blackmail stories about Georgia in relation to Frontera, which suggested that the Georgian government ‘is acting against the Americans’ [or] ‘the country is going backward in its democracy’, But the proceedings, the award shows, soon came to focus on whether the company had, in fact, identified and confirmed the sizable resources it claimed. Frontera did not respond to request for comment. Unconventional resources Publicly, Frontera’s position on the arbitration was confident, stating that the GOGC’s arbitration request was “without merit” – and that it was “confident of its standing and complete compliance with the [production-sharing contract]”. “Whether it be the Georgian government, a hedge fund, unless we have a very strong case, we don’t make a move,” Zaza Mamulaishvili assured Frontera shareholders in October 2018 in London. “Unless we have an extremely strong position, we won’t make a move. Don’t worry.” But the award itself suggests that Frontera’s position was more fragile, as the tribunal’s findings reveal. Kakheti Dedoplistskaro.jpg The road to Nazarlebi oil field, Dedoplitskharo | Image: Shota Kincha / OC Media Frontera originally signed a production contract in Georgia in 1997, and after several amendments, its exploration license for Block XII was set to run until 14 November 2017. By that date, Frontera was meant to produce confirmed evidence of resources and a commercially viable work plan. But by early 2017, there was already a serious dispute between Frontera and GOGC over whether the company had confirmed the resources it claimed according to industry standards and its production contract. To do so, GOGC requested an “independently prepared investment and work plan” from the company, as well as “complete details of all financial resources for undertaking various activities in the five-year period”. The company sent a document in support of this application in January 2017, but GOGC rejected it over the “sufficiency of information provided”. Then, a month later in February 2017, Frontera wrote to the GOGC ‘stating that it had concluded that “commercial production from the Contract Area is feasible”̵ This declaration, Frontera board chairman Steve Nicandros later said in a press release, was made on the basis of a “recently concluded technical analysis”, and “represents the results of our extensive historical investment and associated technical work in Block 12”. Under the production contract, once a declaration of commercial feasibility had been made, Frontera no longer had to relinquish control over Block XII - but GOGC rejected the company’s documents as insufficient under both the production contract and international industry standards. In response, Frontera stated that Block XII was home to an ‘unconventiona As a result, the company stated, it required additional time than that provided by the contract ‘for more exploration operations, including fracking and drilling, in order to determine the right formula for achieving commerciality in Block XII’. When the arbitration tribunal reviewed the evidence submitted, it found “no evidence establishing the existence of such an unconventional resource”, or that Frontera had, in fact, drilled any exploration wells at Block XII More pressingly, the company also alleged that GOGC had breached the production contract by obstructing its exploration activities and seeking “to undermine [Frontera’s] position in the market” – and filed a counterclaim for $3.5bn in damages. The GOGC, however, claimed that prior to the arbitration, Frontera had previously described Block XII as a conventional resource – “and that the claim of Block XII as a BCP was developed for the purposes of this arbitration”. To support this, the GOGC noted that the study programme “made no reference to Block XII as a BCP, nor was it mentioned in the minutes of the Coordination Committee and technical sub-committee meetings”. Frontera stated that its log and core data, “in addition to comparisons with analogous reservoirs”, was enough to prove its sizeable resources and evidence of a basin-centred play in eastern Georgia. But when the arbitration tribunal reviewed the evidence submitted, it found “no evidence establishing the existence of such an unconventional resource”, or that Frontera had, in fact, drilled any exploration wells at Block XII. “Even in the case of an unconventional resource, industry standards and practice require that a well must first be drilled and data collected therefrom, before a discovery can be achieved,” the tribunal noted. The final decision stated that Frontera had breached the production contract by failing to return the exploration territories to GOGC, and dismissed the company’s counterclaim, which had been subsequently withdrawn. The tribunal ordered Frontera to return the exploration territories in Block XII, and pay GOGC’s legal costs. Frontera Eastern Georgia. Vashlovani. Kakheti Dedoplistskaro.jpg The entrance to Frontera's production site in Dedoplitskharo, eastern Georgia | Image: Shota Kincha / OC Media External activities Aside from the substance of the dispute, it appears that what was happening outside the arbitration was almost as crucial. Throughout the proceedings, Frontera claimed that it had been under pressure from the Georgian government for a number of years - but failed to provide evidence of that pressure. For example, in September 2019, Frontera wrote to the arbitration tribunal stating that it had “reached agreement [...] with the Prime Minister of Georgia to suspend the arbitration proceedings in favour of settlement and termination of the arbitration”. The GOGC denied this claim, asserting its sole right to negotiate on behalf of Georgia. Then, according to the award, Frontera claimed that GOGC had “consistently obstructed gas operations, wrongfully issued notices of material breach, sought to undermine [Frontera’s] position in the market [...] and failed to enact the tax exemptions contained in the PSC”. Frontera also alleged that its employees, including its senior legal counsel, had been pressured not to participate in the arbitration. The tribunal stated that the company had not provided “sufficient proof for their allegations that the Claimants consistently obstructed their gas operations after 2012”. The tribunal also found that Frontera did not provide evidence that its employees had been pressured, or that GOGC’s actions amounted to a “soft expropriation” While both GOGC and Frontera claimed victory in the aftermath, GOGC moved to terminate its contract with the company - only for the company’s political connections to kick in “The Georgian government and GOGC decided expressly not to hinder Frontera’s operation in Georgia in any way during the arbitration,” said Vazha Khidasheli, a legal and policy adviser to GOGC. “We refused to initiate any proceedings in Georgia to intervene in other breaches by Frontera. There is a lot of pollution, environmental breaches, for example, but we decided not to intervene – because of Frontera’s aggressive lobbying campaign.” During the proceedings, two separate external legal teams resigned from their representation of Frontera – Akin Gump Strauss in June 2019, and Taylor English Duma in September 2019 – and the company’s own in-house counsel also later resigned a few weeks later. According to the award, Frontera did not attend the final hearing for the arbitration at the International Dispute Resolution Centre in London in December 2019, citing the “overall pressures currently placed upon our business as a result of the [Georgian state’s] actions” – pressures which the tribunal could not confirm evidence of during the proceedings. Nazarlebi Frontera Kakheti Dedoplistskaro.jpg No 2 well at Nazarlebi field, Dedoplitskharo, Georgia | Image: Shota Kincha / OC Media Strategic threats The intrigue, however, did not end with the arbitration award. While both GOGC and Frontera claimed victory in the aftermath, GOGC moved to terminate its contract with the company - only for the company’s political connections to kick in. Several US Senators and Congressmen publicly claimed that the company was under threat of expropriation and, under pressure from the US, Georgia then revoked the termination of Frontera’s contract, leaving it an existing production area. As Khidasheli told openDemocracy, this decision came after “Frontera instigated criticism from the US”. Leaving Frontera with the production site was a “goodwill gesture”, he said, and was designed “to avoid a potential threat to the US-Georgia strategic partnership and Georgia’s image as an investment friendly country”. Frontera ex-workers in Dedoplistskaro, Kakheti (2).jpg April 2021: former Frontera workers in Dedoplitskharo | Image: Shota Kincha / OC Media Human cost After promising Georgia its energy independence and high returns for investors, Frontera has since collapsed into an acrimonious lawsuit between its two top executives – and a hostile liquidation process in the Cayman Islands. But beyond the corporate fallout, Frontera has left its former employees and investors in the lurch. According to former workers of Frontera in eastern Georgia, the company has not yet paid them outstanding salaries (according to their lawsuit, a total of $241,780 between 2016 and 2019), firing them instead in late 2019. Out of around 100 employees that were fired before 2020, four have died while waiting for their back pay. These include Zaza Tsiklauri, a cancer patient whose family said he needed his wages for his treatment, and Gia Kovziridze, who recently died of a heart attack while facing payments on bank loans without 11 months of wages earned working for Frontera. The court hearing this case has not scheduled a session since November 2019. Meanwhile, some 200-300 investors in the UK have lost their shares since the company delisted from AIM in January 2019 – leaving many wondering what went wrong with the Frontera dream, and whether they will ever get their money back. Shota Kincha (OC Media) contributed reporting to this story. If you value our journalism, please support us DONATE TO ODR NOW Read more! Get our weekly email SUBMIT |
Posted at 16/6/2021 16:29 by brookemia Frontera Resources GeorgiaSummary Frontera Resources was recently embroiled in arbitration with the Georgian Government and the Georgian Oil and Gas Corporation. Presently, activists and journalists have noted the following human rights concerns: Ĺ Access to Information: Frontera has faced consistent accusations of making misleading statements and of failing to provide information to people affected by its activities, including workers and the Georgian public. Ĺ Failure to Pay Wages: Workers claim they were not paid up to fourteen months of their wages. This had severe negative impacts on workers and their families since they were unable to cover their bills and expenses. Many of these workers and families spoke about their utilities being cut off and bank fees accruing because of their inability to make payments. At this time, Frontera Resources does not have publicly available information on its human rights policies or its environmental and social standards. The company did not respond to our questionnaire on its human rights policies and commitments. Country: Georgia Website BHRRC company page JUNE 2021 Human Rights Commitments Frontera’s website is down; we were unable to find any publicly available human rights policies The company did not respond to our questionnaire on its human rights policies nor on its commitments Human Rights Impacts Right to livelihood and to an adequate standard of living Labour rights and wages Access to information Company profiles | Frontera Resources Georgia June 2021 2 Company Information Frontera Resources is a U.S.-based company with strong political ties as it was founded by former Houston Mayor (Texas, U.S.) and U.S. Deputy Energy Secretary Bill White. Frontera extracts oil and gas, including at the Upper Kura Field. The company was removed from the London Stock Exchange in 2019 due to issues concerning unreported loans and courtroom battles along with alleged conflicts of interest. In 2018, the Georgian Government—as well as the state-owned Georgian Oil and Gas Corporation –pursued international arbitration against Frontera for failing to fulfil its contractual obligations. Georgia claimed that Frontera operated only on 1% of the contracted territory, and that they had not developed the remainder of the land. As such, Georgia (Country or Corporation) demanded that Frontera return the unused area—99% of the contracted territory—to the state, per the contractual agreement. As a result, Frontera filed a counterclaim accusing Georgia of trying to take resource-rich lands from the company. This counterclaim sought $3.5 billion in damages. An addition political tie includes when Frontera spent $500,000 on lobbying in the United States, and their executives donated $180,000 to political campaigns. This resulted in political pressure that soon mounted against the Georgian Government. U.S. politicians, including Ted Cruz, claimed that Georgian action against Frontera amounted to anti-U.S. activity, spurred by anti-American actors in countries such as Russia. After the arbitration was settled in 2020, Georgia claimed victory; in response, Frontera accused the government of misrepresenting the ruling. However, the full text of the arbitration was not released, as both parties must agree to make the information public, and Frontera refused to do so. In order to preserve its reputation among international investors, Georgia reversed its decision to expel Frontera entirely, and it decided to let the company continue to operate at the land that it had previously been using (1% of the contracted territory). Human Rights Allegations Access to Information Frontera has faced consistent accusations of making misleading statements and of failing to provide information to people affected by its activities, including workers and the Georgian public. The arbitration was kept secret from employees for years, even as they were not being paid (see below). Georgian Oil and Gas Corporation said that it was unable to notify Frontera workers about the arbitration proceedings because of strict rules around confidentiality. This is despite the arbitration potentially having strong impacts on surrounding villages who completely rely on the oil and gas industry. When workers finally found out about the arbitration, two years after Georgia began the process, they expressed concern about long-term unemployment and lack of money—both of which would create an inability for them to pay their utilities. The company has denied all reporting around the arbitration. Instead, they started accusing the Georgian Government of false information, slander, defamation and harassment. Despite this, the company refuses to release the text of the arbitration (see above). Conflicting information from the state and the business has been a recurrent issue. For instance, the company claims it has invested $580 million in Georgia, while the state says it has invested several hundred million dollars less. COMPANY OWNERSHIP Frontera Resources (USA) Frontera Resources Georgia Company profiles | Frontera Resources Georgia June 2021 3 Frontera has denied reports and news stories which paint the company in a negative light. After a series of strikes (see below), Frontera denied that the protesters were employed with the company at all. It simultaneously accused the Georgian government of inciting the protests. According to Frontera’s president, “They do not work for the company, how can they be strikers?”> Failure to Pay Wages Over a period of two years, Frontera workers raised alarms that they were not paid by the company. Many employees claimed that they received pay late, if they received it at all. By November 2019, workers were owed 11-14 months of wages. At first, they continued to work, believing the delays were temporary, and that, since Frontera is an American company, they would eventually be compensated. Frontera also promised that payment would come soon, and that the workers would soon receive money from an investor. This had severe negative impacts on workers and their families who were unable to cover their expenses. Many of these people spoke about their utilities being cut off and bank fees accruing because of inability to make payments. Such problems were exacerbated by lack of alternate employment options in the area. An example of the pressures on the workers is recorded by the Georgian Trade Union Confederation which stated that one employee of the company took his own life after not being paid for fourteen months. When wages still didn’t come, the workers launched strikes in Tbilisi. One employee said that, “Eventually, we decided to stop [working] because the company had oil and they weren’t giving us salaries.”> Workers expressed little faith they would ever receive their wages. According to openDemocracy, “They have gone into 2020 penniless” —a situation that was likely made worse by the start of Covid-19 pandemic shortly thereafter. Human Rights Commitments Frontera’s website is down; we were unable to find any publicly available human rights policies. Frontera Resources did not respond to our questionnaire on its human rights policies and commitments. |
Posted at 01/5/2021 13:54 by brookemia MoleinaholePosts: 5,091 Price: 0.00 No Opinion RE: A scorched-earth policyToday 08:52 Madpunter GOGC will have alot if not all the data in my opinion. The well logs and surveys I think will go with the field and have to be handed back if they have not already got it through the 50% holding in FEGL. FRR got all the Soviet data and I suspect the next operator will do likewise with FRR data. So I would not pin any hope on value in that. This is a complete mess. Given Steve and Zaza links to US politicians, Atlantic council, NATO, US chamber of commerce this is fast becoming a political and commercial scandal. The main winner in that is Russia. The way it's panned out it reflects very badly on Georgia as an investor safe country. However, it is becoming clear the more you see that none of the main players have exercised the care and diligence shareholders deserve from people who have represented not just the company but western interests in Georgia. Collectively they are an embarrassment to their respective countries national interests. Legally this looks difficult and to protect reputations and interests Steve needs to be phoning friends to sort it out. The lot of them from FRR board through to Outrider and FTI have indeed caused a scorched earth of block 12. It's hard to see even if current events are reversed where FRR as a company goes from here. Who in their right mind would trust them with a loan? Total sale is only option and at moment with under a year on the 1% and no real prospect of large scale development it's worthless. A short term smash and grab to extract $5m a year of oil makes sense via Green if you can get away with it. |
Posted at 14/4/2021 16:04 by brookemia Sweet karolina, thank you, but would appreciate specifics from any/everyone. This is very important. I did this for QFI, I want to hold their feet to the fire, please see details of latest email sent two minutes agoDear Bryce, Tyler, and Frontera Resources. I corresponded with you recently, giving you a generous window of 72 hours, to respond to Private Investors with an honest meaningful reply You have chosen to mitigate your moral and ethical responsibilities, by an uninspiring regurgitation of an earlier “vague” promise of updates when confidentiality allows. We all understand the need for true “confidentiali The idea that one or more current/ex members of The BOD can -without-seemingly- any real oversight- steal/misappropriate millions of dollars-some from US sources for payment-under Covid support rules- is breath-taking. Your proffering of the “BOD is aware of Mr Mamulaishvili’ You have-collectively- delayed communication, to the point of embarrassment, instead, forcing Private Investors to resort to paying for information, that should have been made available to us in a plain, consistent and transparent manner. You have through your somewhat flawed strategy of hubris and Omertà code of silence-alienated those that have given you more than enough opportunity to make amends. I shall wait a further 24 hours-as promised- before I advise the Investigative journalist, of my and others’ personal experiences, including London speeches, mysterious exiting of NOMAD, missing millions and assets, lack of communication, new BOD, etc, expensive Court cases(funded by mystery)all of which will be public domain centric. This was all totally preventable, by yourselves, but you chose to treat the Company as your own little secret squirrel’s entity, instead of supporting shareholders with promises of Jam tomorrow. Who exactly is funding the court cases-you have never officially explained. What do we actually own How many shares are held in total Who are the biggest shareholders Are we still producing oil and or gas from our fields How much have we earned since delisting What are the names of the asset-producing fields How much longer do we have remaining on our licences. What is the current status of outstanding court claims against Directors/Ex-Directo What financial liabilities and obligations do Frontera, and by extension- shareholders - have in the event of claimants against us, prevailing. What is the realistic timescale, remaining, before a settlement in any form, being buy-out, Farm-in, Farm-out, might be announced Will the Company remain Private if sold, or any of the options mentioned previously. What realistic chance is there of monies per share being returned to shareholders, within say six months, and a conservative estimate of what that might represent Some answers please, would be very appreciated Regards |
Posted at 30/11/2020 22:49 by brookemia Jim Slade on LSE, if I could tell you more-then I would-seriously and honestly, if you want to contact me then it is adhall1949@gmail.comI have had contact(s) with Frontera and as soon as I am permitted then I will furnish all that for which I have been given permissions. I stress that I am not of the opinion that I am the only Investor to whom communication has been made, possibly wrong, however despite the silliness being played out on LSE BB I shall not divulge any details unless authorised. The only reason I can think of no communication with FSHG- if true-is FSHG is made up of a number of Investors and loose lips etc, but that is my opinion and not fact. We have waited two years now, so patience is the watchword, there are many who have more at stake than me, some in dire straits, and I sincerely hope they manage to salvage something out of this. |
Posted at 29/11/2020 10:29 by brookemia SK2, many people are subject to fear and greed, look at the thousands who were taken in by the hype and seminars of SOUND/CORO/Echo/NuogIt is a case of the balance of probability/provabil I am fairly sanguine, and like many have lost cash, not proud of it, but do my best to learn, and will do my utmost to help others. I am in contact with FRONTERA and have had an email from THEM, subsequent to the initial from Linsenmayer, which I published. I am not able to disclose anything until proper protocols and permissions from them have been received-otherwise my line of access to information, might be terminated-I shall however post everything for which they give me authorisation. As previously stated elsewhere, a RESTRUCTURING is TAKING place, and the make-up/Constitution of the former Frontera and all its constituent parts MIGHT be subject to change🤔 Really sorry for what might be construed -in TV terms-as a teaser, but understandably,I do not want to jeopardise the progress that I have made thus far SK2 Do not be too harsh on punters/Investors though, it could happen to you or someone close. We are all trying to do what is best for those close to us, and healthy discussion-contraria Alan |
Posted at 24/11/2020 14:12 by brookemia zepsPosts: 10,696 Price: 0.00 No Opinion ZaZa and SN has so much to answer forToday 09:01 They don’t realise what Damage they have done to Many Families. I know they didn’t put are arms up our Backs. But they did tell many untruths. They also never told us Many things They should have done. They also squeezed us for the last Money we had. Knowing they where up to their necks in undisclosed debt. With many, many court cases to come. This company has a lot to answer for. If you thing that zaza and SN are in the same boat, Wrong . They are millionaires and will survive this calamity. With a Healthy Bank account. By what I have read over the last 9 or 10 years. Most of the investors are retirement age and above. Therefore haven’t got many years to recoup their loses. Or the intension or money. You will be glad to know that’s the last I have to say on the subject. Back to the real world, The COVID 19 one. Let’s hope the vaccines sort this mess out. Hopefully it will. Then we live to fight another day. Fingers crossed. |
Posted at 22/11/2020 19:40 by brookemia SK2- interesting snippet from oilman Jim regarding BLOE-FRR’s neighbours in block 12 in Taribani🤔 this is the share most FRR-ites are basing the future of FRR upon🥴due to its proximity and Schlumberger’s interestEmojis are obviously mine added for focus. “Another one where I expect a placing is Block Energy (BLOE), who are starting to ramp up the hype. It’s one that I warned about several times before and investors who ignored me incurred horrendous losses. The last pre-placing promotion was based on lies🤥so I’d suggest exercising extreme caution here😱 Have a good week SK2 |
Posted at 24/6/2020 11:56 by brookemia RE: Frontera StatementToday 11:30Pt.2 The actual number of U.S. private-sector companies with headquarters and physical offices in the UnitedStates who are making meaningful investment in Georgia to employ hundreds of employees and buildsignificant, sustainable value for the country’s economy is indeed quite small; maybe less than ten. If we are wrong in this assessment, we respectfully call on the Minister of Economy to provide thisinformation to the public. Despite wishful claims that private-sector foreign direct investment from the United States is somehowincreasing amidst the most paralyzing international pandemic of our lifetime, it is not encouraging forthe Ministry of Economy to publish false narratives. If Georgia’s objective is to truly enjoy the benefit of increased U.S. private-sector investment, it is timeto put political theatre and contract cancellations aside and make sincere efforts to meet with U.S.private-sector investors to solve their challenges. If this is not the objective, then Georgia’s privatesector economy will continue to be increasingly controlled by interests from Russia, China, Iran and Azerbaijan", - it is said in the statement. hxxps://www.interpre ReplyRecommend (5)Report Post Looed Posts: 1,052 Price: 0.00 No Opinion RE: Frontera StatementToday 11:29 A variation - Pt.1 "In response to the Ministry of Economy and Sustainable Development of Georgia, Frontera Resources calls the Ministry's actions blatant disregard of the ruling and calls on the government to stop the threats to arbitrary cancel the contract. "In light of misleading public statements made by the Deputy Minister of Economy on June 22, 2020, Frontera wishes to highlight that, considering the Government of Georgia’s failure to achievecancellation of our contract in its recent international arbitration action against our company, theGovernment must now stop its blatant disregard of the ruling. It must now stop continued threats toarbitrarily cancel our contract on July 27th. We wish to be clear that no legal basis exits whatsoever for cancellation of our contract with the Government of Georgia. The Deputy Minister’s continued insistence to the contrary is simply wrong andwe ask that the Government of Georgia cease and desist from the continued threats, harassment andintimidation of our business and its employees. Any attempt to arbitrarily cancel, terminate orotherwise occupy and seize by force the oil and gas operations of our company, is an illegal, criminalact of expropriation and will be treated as such. Over the past few weeks, intimidation and disinformation initiatives have increased towards ourbusiness. Meanwhile, a cynical series of public statements have been made on June 23rd by the Ministerof Economy and Deputy Minister of Economy. These statements seem to indicate that while the Government of Georgia plans to arbitrarily cancel our contract on July 27th and expropriate our holdings, the Ministry “…will do our best to make U.S. companies feel even more comfortable…&# The Minister of Economy has this week released misleading information related to foreign directinvestment from the United States, stating that “in the first quarter of 2020, US investment increased by 34% and ranked second among the largest investor countries with 17%”. This is a disingenuous effort tomask the significant challenges associated with U.S. private-sector investment in Georgia. We call uponthe Minister to be publicly transparent and share the basis for this information in order to demonstratethose U.S. private-sector investors that are the basis for this substantial increase in foreign directinvestment, while Georgia’s overall foreign direct investment has plummeted by more than 50%. The Minister of Economy has also this week gone on to publicly say “Today, about 300 Americancompanies operate in Georgia. In the first quarter of 2020, American investments were made incommunications, energy, development, tourism, etc. " Over the past year, the Georgian Embassy in Washington D.C., as well as other senior Georgian Government officials in Tbilisi, have made similarclaims in an attempt to make the public believe that there is a sizeable U.S. company presence inGeorgia. This is simply not true. |
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