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Message from Georgia - putting things into perspective

lse:frr

#1

From Gary1960 on BLOE page

Message from T’bilisi…Fri 20:31
Guys I am in Georgia until next Monday - staying in central T’bilisi just off Rustaveli Avenue. I have to say there are some great people out here but there is also grinding poverty that would not look out of place in the third world. There are lots and lots of stray cats and dogs - but there are also a great many destitute and homeless people laying about on the streets. I met up with a Georgian tour guide and we went out to the far east of the Kakheti Region and it was mostly rural but again great levels of poverty, poor housing, terrible roads and general infrastructure run down and grubby. The tour guide told me that Georgia has “great natural resources” but the Government over the previous 30 years had stood idle and done nothing. Only in the last few years have things started to get better with some inwards investment and a more liberal government policy.
We went for dinner with one of his old school friends and their extended family. The daughter is 38 years old and earns just 11 euro equivalent a day - working 10 hours a day picking grapes. Georgia is desperate for inward investment and to be independent of energy needs from Russia and Azerbaijan. Currently they produce very little of their own oil or gas and are tied to costly imports.
When people on here start saying they hope Block Energy goes bust maybe they should stop and think what they are saying and that energy (especially the gas) could make a fundamental difference to the country as a whole.


#2

Sounds very similar to Ukraine right now.

I remember visiting Latvia about 13 years ago and it seemed underdeveloped and poor. Say what you will about the EU but it has dragged some of the old Soviet/Warsaw pact countries into prosperity and opportunity.

Anyway, there looks to be some court action next week so maybe some developments.


#3

Thr latest message for all you suckers is that Steve Nicandros is hiding from the debt collectors.

What a bunch of stupid clowns you all are.


#4

Booster this is not the way for discussion
Do not discount your knowledge
By making foolish comments


#5

You flatter him, Ramco.

Most posters here have forgotten more than he knows.


#6

I have to admit I’m totally puzzled as to where we’re at now.

Whatever the state of play it would seem Frontera are not going quietly into the night without one almighty fight. The latest revelations prove that Frontera have some heavy weight political backing.

Personally, despite it looking like IG have paid out the shorters, I still think this may come good.


#7

If we get anything back we will be lucky but Zaza doesn’t appear to give a flying f*ck about the shareholders. My certificate is now gathering dust and probably will for years.


#8

Not so sure Jay but the directors have now surfaced, could be a good time for Devex et al to extend an olive branch.


#9

Well, revelations of the past two days have been ground breaking, especially when you consider that we are delisted and in the midst of multiple legal battles (fighting for our lives I would say). The interview given by Zaza to the Ukraine paper was pretty telling, especially about oil production for 2018 and a positive net profit. How much is fact and how much is spin, who knows. But as bystanders, its was good to see them out and about. Plus, the political support garnered from the US for a small company like FRR is astonishing. However, will it yield positive results with the Ukrainian and Georgian Govts, I guess we will find out soon. On Ukraine, we could have some news on the Dolphin Block may be by Friday and on Georgia, next month. On both counts, I believe FRR has a strong case. In Georgia, how do you contest $500m of inward investment and huge oil and gas discoveries/reserves. We must also remember that FRR had officially submitted a feasibility report to GG to declare the entire B12 as commercial based on the Miocene and Eldari formations (ref April 2017 RNS). But we heard nothing on that front. On Ukraine, again a compelling case if direct comparison is made to the winner, Trident.

Anyway, as far we the shareholders are concerned, well it’s pretty frustrating. Emotions are swinging wildly from euphoric to ‘all is lost’. Where am I? Probably in the middle, fearing the worst, hoping for the best. But seeing the guys in the public gives a little reassurance, although I try not forget there are some major obstacles ahead, so we must be patient and let things take their course.

Also, I am pretty sure that Zaza will communicate/meet the shareholders when the time is right but with so many other issues on the go, I don’t blame them for focusing on them first. The simple equation is, they win, we win.

Some may argue that Ukraine should not be high priority given all the other problems, and I am kinda in that camp too, but there be a good reason why they are aggressively perusing this opportunity (including already filing a case in the Kiev Court).

And I don’t see any benefit in taking a defeatist attitude, so we must keep our chin up and continue to stay on the trail while the guys continue to fight on. If things go the other way, well, there will be plenty of time for self pity and soul searching (mixed in with hate, anger and blaming each other etc).

Anyway, my sincere thanks to the super sleuthers for their research prowess’s as evidenced over the past few days - remarkable!