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IrishPaul 10 Feb 2020

Frontera Public Statement Share are in FRR/Frontera Resources, FRC is a subsidiary company of FRR. Monies were for FRR as a whole so may have included other operations, but tbh i’d imagine that all the money would have been used for Georgia operations at the time they are talking about

sueneave9 10 Feb 2020

Frontera Public Statement So, is it the Frontera Resources Corporation that we have invested in, or as the shares were raised to finance the Georgia Project are our shares invested purely for that? Confused !

thefozzer 10 Feb 2020

Frontera Public Statement Emphasis on the word “hope”.

Symore_Bottoms 10 Feb 2020

Frontera Public Statement Sincere thanks to ‘Pophead’ and ‘Looed’ for this Monday morning revelation. I say, it’s about time FRR got on the front-foot and counteracted this incessant negative propaganda from both the Georgian and Russian media outlets. And I guess the biggest negative/eyesore has been the unpaid workers situation which appears to be ‘rinsed and repeated’ every other day in the media. The facts are that FRR has invested over half a billion of dollars and only retrieved US$60m in O&G sales, which have been reinvested. Anyway here is the English/translated version [thanks to Looed again]. "The Merrick oil company Frontera has issued a statement. It has recently spoken about a company in Georgia that Frontera calls “incorrect and incorrect.” Interpressnews offers the following statement: “Frontera Resources Corporation responds to recent incorrect and often incorrect information about the company in Georgia. Frontera is an American oil and gas exploration and production company headquartered in Houston, Texas, USA. The founding shareholders of the company are prominent representatives of the American energy and financial industry, including Baker Hughes, Conoco, JP Morgan, Shell Capital and many more. Since its inception, the company has worked in Texas in the US, Latin America and the Black Sea. In 1996, Frontera signed two production sharing agreements in Azerbaijan, where it began oil exploration and production that same year, making it the largest foreign oil company in Azerbaijan for several years. In 1997, the company won a tender announced by the state of Georgia and obtained a license to conduct oil and gas exploration and extraction in the 12th block of East Georgia. After a year of negotiations with the Government of Georgia and after the terms of the agreement were agreed with the Cabinet of Ministers, the State Investment Council and the Parliament of Georgia, the Company signed a Product Share Distribution Agreement with the State of Georgia and the State Company Saknavobi. The mandatory contract investment program was $ 18.5 million. The company has exceeded this obligation by about 30 times. For the first time in its history in Georgia, Frontera: Together with US banks JPMorgan, Morgan Stanley, Shell Capital and Deutsche Bank, they began investing in the 12th Block Project, successfully performing three-dimensional seismic research, drilling up to 60 wells with modern technology, horizontal drilling of oil wells with leading US companies, Netherland With Sewel & Associates, Ryder Scott and Miller & Lens approved the 12th block of oil and gas reserves. (The acquisition of these supplies will fully meet the country’s demand for oil products and natural gas consumption and increase the volume of Georgian oil and gas exports.) In 2004, he placed shares on the London Stock Exchange for the Georgia Project. This was the first time the Georgian stock market had raised capital. This transaction successfully introduced Georgia to the international stock market capital market. The first gas pipeline and compressor station was built to supply locally supplied gas to users in various regions of Georgia. Total investment in oil exploration and extraction since 1997 is approximately US $ 580 million, while US $ 60 million worth of oil and natural gas has been extracted and sold during the same period. The state has received tens of millions of dollars in taxes. The project employs hundreds of people. It is also noteworthy that Frontera Resources fully assumes the responsibility and risk of capital investment in the project, with more than half of the oil and gas profits owned by the State of Georgia. The company began harassment from the state in 2013, which resulted in the issuance of various types of operating permits and repeated attempts to revoke the license to extract oil and gas. In 2017, the State and the Georgian Oil and Gas Corporation launched an international arbitration dispute against Frontera, which significantly hampered the Company’s operations and the inflow of planned investments in Georgia. Nevertheless, the company hopes to continue implementing the multi-billion dollar oil and gas exploration project, which will bring energy independence to Georgia and provide its people with greater material benefits. It is a great honor for Frontera Resources Corporation to be part of Georgia’s economic revival, ”the statement said. Source - [link]

ramco14 10 Feb 2020

Frontera Public Statement Is this the end of all our difficult times/days/years

PoPHeaD 10 Feb 2020

Frontera Public Statement Headline. “Frontera - We hope to continue implementing multi-billion dollar oil and gas exploration projects in Georgia” Investors “The founding shareholders of the company are prominent representatives of the American energy and financial industry, including Baker Hughes, Conoco, JP Morgan, Shell Capital and many more.” Backers are coming out of the shadows and must have given permission to publish.

PoPHeaD 10 Feb 2020

Frontera Public Statement Great start to the week with find from Looed over on LSE. Statement from Frontera Resources who are very much alive. 1TV „ფრონტერა“ - ვიმედოვნებთ, გავაგრძელებთ საქართველოში ნავთობისა და გაზის... „ფრონტერა“ იმედოვნებს, რომ კვლავაც გააგრძელებს ნავთობისა და გაზის საბადოების ათვისების მრავალმილიარდიანი პროექტის განხორციელებას, რაც საქართველოს მოუტანს ენერგოდამოუკიდებლობას, ხოლო მის მოსახლეობას კი უდიდეს მატერიალურ სიკეთეს, – ამის...

Loosygoosey 10 Feb 2020

Sorry I forgot to add the link -[link]

Loosygoosey 10 Feb 2020

Hi, I am Looed on LSE - so glad to be able to share this with you all -he Merrick oil company Frontera has issued a statement. It has recently spoken about a company in Georgia that Frontera calls "incorrect and incorrect." Interpressnews offers the following statement: “Frontera Resources Corporation responds to recent incorrect and often incorrect information about the company in Georgia. Frontera is an American oil and gas exploration and production company headquartered in Houston, Texas, USA. The founding shareholders of the company are prominent representatives of the American energy and financial industry, including Baker Hughes, Conoco, JP Morgan, Shell Capital and many more. Since its inception, the company has worked in Texas in the US, Latin America and the Black Sea. In 1996, Frontera signed two production sharing agreements in Azerbaijan, where it began oil exploration and production that same year, making it the largest foreign oil company in Azerbaijan for several years. In 1997, the company won a tender announced by the state of Georgia and obtained a license to conduct oil and gas exploration and extraction in the 12th block of East Georgia. After a year of negotiations with the Government of Georgia and after the terms of the agreement were agreed with the Cabinet of Ministers, the State Investment Council and the Parliament of Georgia, the Company signed a Product Share Distribution Agreement with the State of Georgia and the State Company Saknavobi. The mandatory contract investment program was $ 18.5 million. The company has exceeded this obligation by about 30 times. For the first time in its history in Georgia, Frontera: Together with US banks JPMorgan, Morgan Stanley, Shell Capital and Deutsche Bank, they began investing in the 12th Block Project, successfully performing three-dimensional seismic research, drilling up to 60 wells with modern technology, horizontal drilling of oil wells with leading US companies, Netherland With Sewel & Associates, Ryder Scott and Miller & Lens approved the 12th block of oil and gas reserves. (The acquisition of these supplies will fully meet the country's demand for oil products and natural gas consumption and increase the volume of Georgian oil and gas exports.) In 2004, he placed shares on the London Stock Exchange for the Georgia Project. This was the first time the Georgian stock market had raised capital. This transaction successfully introduced Georgia to the international stock market capital market. The first gas pipeline and compressor station was built to supply locally supplied gas to users in various regions of Georgia. Total investment in oil exploration and extraction since 1997 is approximately US $ 580 million, while US $ 60 million worth of oil and natural gas has been extracted and sold during the same period. The state has received tens of millions of dollars in taxes. The project employs hundreds of people. It is also noteworthy that Frontera Resources fully assumes the responsibility and risk of capital investment in the project, with more than half of the oil and gas profits owned by the State of Georgia. The company began harassment from the state in 2013, which resulted in the issuance of various types of operating permits and repeated attempts to revoke the license to extract oil and gas. In 2017, the State and the Georgian Oil and Gas Corporation launched an international arbitration dispute against Frontera, which significantly hampered the Company's operations and the inflow of planned investments in Georgia. Nevertheless, the company hopes to continue implementing the multi-billion dollar oil and gas exploration project, which will bring energy independence to Georgia and provide its people with greater material benefits. It is a great honor for Frontera Resources Corporation to be part of Georgia's economic revival, ”the statement said.

rpg7 09 Feb 2020

Oil Market Maybe a large steak(sic) ,heavy on the garlic.

thefozzer 09 Feb 2020

Oil Market I think we need a resurrection of biblical proportions now.

Fillpot 09 Feb 2020

Oil Market He is certainly sucking the life out of lil’ ol FRR ‍♂️

rpg7 09 Feb 2020

Oil Market Looks like his homeland was Transylvania .

Symore_Bottoms 09 Feb 2020

Oil Market A picture paints a thousand words [as they say]. Here is Ivanishvili, the man putting a stranglehold on FRR. Let us hope the US Ambassador conveyed some of Congressmen’s concern to him on bullying and intimidation on foreign companies and particularly on FRR. [link]

Symore_Bottoms 08 Feb 2020

Oil Market With sincere thanks to Chris572 from LSE BB for the below. My take, for what’s its worth, is that the Georgians won’t be moved (via hard man Ivanishvili) and have decided to leave it up to the Tribunal for the final decision despite all the recent US interventions, letters and meetings. Optically, if does FRR lose the arbitration, it will not look good for the Georgians, robbing a US company despite investing 25-years of financial, human and political investment. It will also send a very negative signal to the international investment community that Georgia, under the rule of Dream Party, is led by a bunch of hoodwinkers and Russian sympathisers. On the other side, all the recent media spotlight on the unpaid FRR workers will have garnered a lot of sympathy and given the GG an opportunity to say this company has not acted properly. Archil Talakvadze Photo: Parliament of Georgia “The oil and gas company Frontera Resources was not connected to the political process,” Parliament Speaker Archil Talakvadze told the Chronicle. He said the Frontera issue was one of the topics discussed during a meeting with congressmen in the United States. "At a meeting with congressmen, we had a conversation with the company Frontera, which was isolated in a letter sent by congressmen for the first time. This was evident in the meetings. The Frontera case is under discussion in Stockholm arbitration. Accordingly, we will not comment in advance as we are responsible. The fact is that arbitration is the truth and we respect this decision no matter what. Its connection to current political processes was not really right. I am sure that the Congress is well aware of the dispute over the Frontera, ”Talakvadze told the Chronicle. Republican Congressman Marcouine Malin, in a letter sent to George Gakharia on January 19, is concerned “with Georgia’s shifting democratic values ??and deteriorating economy.” According to him, American and European business interests in Georgia were subject to harassment and assault - for example, the oil and gas company Frontera Resources, Texas. Hogan Lovells, one of the world’s largest international law firms, issued a statement on January 31, 2020, basing Frontera’s allegations on the Georgian side.

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