Dont Cry For Me Georgia



A buy out as far as selling the Georgia :georgia: asset in its entirety though might well be on the cards ?! And as I say, after due process re proving commerciality of the blockXII resources
FRR would continue as an explorer/producer but in those, currently more junior fields
I think everything is potentially on here



A total sale of assets would not be a surprise to us all and this whole process being facilitated to reach the end goal. The numbers have always been way to high for FRR to go alone and I wonder if Georgia is coming to a head with new land in Moldova and Ukraine to explore. Trying to come up with the buy out value off FRR Georgia is another discussion all together. Dare we dream.


Was a buyout not asked at one of the shareholder meetings with Zaza previously, in which we got the response that we could some form of asset sale with dividend to shareholders and then move on to the next project. . . . . cant remember if this was from a shareholder meeting or from interpretations afterwards.


They don’t give a flying f*ck about shareholders Paul. Read the certificates thread, it’s a nightmare.


With respect Jaytee41
We believe that Hope caused the delist because of interference with the Nomad which compromised them ina sub judicial case.
FRR have stated that they want to relist
There has been a physical delist since Christmas
In that time various share dealing platforms have taken different views on how to treat shareholders holdings especially in ISA’s and Sipps


Chill jaytee41. You’ll blow a gasket!!! You worried if this kicks off big time you won’t have your piece of paper to exchange with Mr BP’s shares.


All FRR shares will have been removed from ISAs even if they look like they have not been. If this share comes back to market there is no way that some are going to slip through some ISA net just because the admin in one broker differed from another. It’s black and white unfortunately, delisted shares do not qualify for ISA status. SIPP is a different set of rules all together. BP Black Swan lots of tax to pay, let’s hope we all have to pay sheeeet loads of tax.



My broker assured me that only applies whilst delisted and that if they relist then the ISA’s accumulated over many years are still valid in those years

I suggest everyone does their own research but that is the clear message I got from ii at the start of this process


I was informed the same as PoPHead by over the phone.

In the words of Micky Flanagan they haven’t just popped out they’re out out.


So we don’t have to buy them back in the ISA on relist ? I’m with the Sharecentre and they were certain wants out they’re out


I have records of each year my investment qualified for an ISA
Each ISA year is a separate entity, the year opens and closes
The rules appertaining to each previous year include an AIM listed company and the value I invested that year
I do not expect that ‘history’ to be affected as far as ISA value is concerned
I will fill a tax return based on the rules in each year not what happened in 2019 alone


Who cares if it comes back into the ISA or not…lets hope FRR re-lists full stop and we get our £ back! I couldn’t care less if I have to pay CGT on this if it falls outside the tax wrapper, it will be a relief to see this happen.


What ever it is Fillpot it will be one rule for all of us. In the event that you are correct then we will all benefit. GLA


I’m in agreement, buyout for 5-10p without a relist would suit me and most of us in here I’m sure :grimacing:


Agreed Chiltern. I would also accept 5 million for my 500,000 house. Any takers. 8 bedrooms and 5 bathrooms overlooking a historic park. Just under half an acre of land. Parking for 12 cars and electronic remote control gates. 10 ft high stone wall all the way round.
Silly estate agents valuing it at 500,000. Same with FRR .2p as if - we all know it’s worth 5p minimum.


It’s all fantasy until the cheques paid, we know that…all depends what we’ve discovered in the field over the last six months


8 bedrooms and 5 bathrooms? only 500k? where do you live, middlesbrough?


Incredible!!! Considering that senior members of the Georgian government were, almost protesting just a few years ago, that there were no hydrocarbons in Georgia we now have the GOGC mopping up license areas in Georgia.

From the LSE block page:

  • VIIA License Block - “Georgia Oil and Gas Limited”;
  • XIII license block - “Georgia Oil and Gas Limited”;
  • XIV License Block - “Georgia Oil and Gas Limited”;
  • XIA license block and area comprising IXA, XIK, XIL license blocks - “Georgia Oil and Gas Limited”.

Suspect the Georgian gov would love to take back B12 give it to the GOGC and then have a super major farm in to do the leg work and thus saving themselves 400m. Let’s face it we couldn’t even get the 5m tax rebate!!! Come on Zaza bring home the bacon and show us your hand.


Forget what the GoG are saying, for affirmation, just look at the action on the ground over the past 12 months: Exxon, Repsol, TOTAL, Schlumberger and an unknown Chinese Conglomerate. Forgive me for not adding Block to that list but they are doing their bit to drive forward the Georgia-Oil Agenda. As far as FRR is concerned, well, we now know that Baker Hughes and BP are waiting to do a tie-up [MoU & NDA signed], which could potentially propel us to the top of the league in Georgia.

Conversely, you could argue that nothing has happened in Georgia; no big discovery, no big oil, no big production - which is also true. But what do you see when you look forward to the horizon? Positive or static? Glass half full or half empty. A house on the prairie or a house in Middleborough? Who knows.


Have to agree and this seems like a major shift in approach to me. So in this area we have private operators (notably Block, Schlumberger and FRR) - and now GOGC as the lead. So in the latest tender process either GOGC entered knock out bids or there was limited interest from others. Surely it has to be the former.

To me this has all the hallmarks of the pre-emptive steps towards a cross licence consortium approach - with the Georgians quite understandably wanting to protect their domestic interests. We have talked about this for years - and it does now feel close. No prizes for suggesting that BP, Schlumberger and BH will all be involved.

How would this impact FRR? Lord knows - but at least we are still in the game. And that the Authorities have not once mentioned FRR this year is of considerable interest in itself