AV Drilling wins its case

[sam1978]

Yes , I see . He probably believe in emailgate too!

[Wraith King]

Ah yes the whole family is here.

Only deflections and accusations

I gave an example of Wraith King lying. Show an equal one with me doing the same in the thread.

All this is just showing is that you all are butthurt and can't win the argument based on facts so you are personally attacking me. And fuss your acts are so personal you have no facts to back it up.

Quote me lying in the thread.

I don't believe you deliberately lie as you seem to genuinely believe the rubbish you spew

Rubbish like the comprehensive report on an accusation of fraud?

Or should I believe the truth that the govt is now going to pass the centre of the highway those A&V land?

Did he say they were now going to build the highway through lands owned by AV,( implying the road is being moved) or that AV is the true owner of the land?

Lie number 3.

The man in the video said the land is in the centre of where the highway has to pass (2:04)

It Wraith King making the accusation that the land is owned by A&V

It is also Wraith King holding up this political propaganda as any credibility so that to disagree with it is lying. He probably still believe in the wire transfer document and the Miami account.

Lie 6 for trying to defend your earlier lie by lieing again.

[Habit7]

You want a lie, this is a lie.

Personally, I don't think she'll be found guilty as her statement was based on the information contained in two reports. If there was a defamation case to answer it would have been the source of those two reports yet A&V not interested in engaging those parties (highly suspicious in my opinion).

Kamla's statement was not based on information that was based on two reports. Those reports came out subsequently to Kamla's statement. Kamla quoted extensively from one report, the July 2017 Audit Report. So it is both that you are lying and ignorant of the facts.

That is how you point out a lie. You quote the lie and show how it is at odds with the truth. Can you do that?
Not that catty nagging thing you like to do.

This how you show someone lying. What you are currently doing is looking insecure.

[Wraith King]

You want a lie, this is a lie.

Personally, I don't think she'll be found guilty as her statement was based on the information contained in two reports. If there was a defamation case to answer it would have been the source of those two reports yet A&V not interested in engaging those parties (highly suspicious in my opinion).

Kamla's statement was not based on information that was based on two reports. Those reports came out subsequently to Kamla's statement. Kamla quoted extensively from one report, the July 2017 Audit Report. So it is both that you are lying and ignorant of the facts.

That is how you point out a lie. You quote the lie and show how it is at odds with the truth. Can you do that?
Not that catty nagging thing you like to do.

This how you show someone lying. What you are currently doing is looking insecure.

If you really believe that why do you keep saying things to dissuade me from doing it? You don't care about me looking insecure.

You're trying to manipulate me to stop because your feelings hurt.

[De Dragon]

Tunts7 would prolly have multiple orgasms if Kamla had to cough up money to AV.

[The_Honourable]

Petrotrin and AV Oil settle arbitration dispute



The full statement from Trinidad Petroleum Holdings Limited

The Petroleum Company of Trinidad and Tobago advises the national community that it has settled the arbitration dispute between itself and A&V Oil and Gas Limited (AV Oil) avoiding the payment of millions of dollars in damages. As an indication of the cordial nature of the settlement, Heritage, the national Oil Company, is entering into an Enhanced Production Service Contract (EPSC) with AV Oil for the purchase of crude oil.

The settlement is rooted in the partial award delivered on the 11th June 2021 by the arbitration panel in favour of AV Oil. In summary the arbitrators, headed by former President of the Caribbean Court of Justice, Sir Dennis Byron, found that Petrotrin had failed to establish that AV Oil was engaged in seal-tampering or any other inappropriate practices in the process of the delivery of crude oil to Petrotrin during the period from April 2016 to July 2017.

Based on that finding by the panel, Petrotrin was not entitled to treat any of the crude oil delivered to it by AV Oil as not having been delivered in pursuance of the Incremental Production Service Contract (IPSC) Agreement between the two companies. The findings of the arbitration also mean that AV Oil is entitled to payment of the sum of TT$84,699,879.47 that Petrotrin is holding in escrow in relation to the sums due on its unpaid invoices for the period 1st June 2017 to the 31st December 2017 together with interest at the rate of 3per cent per annum from the due date of each invoice until the date when the principal sum was paid into escrow. Additionally, the arbitrators also awarded payment to AV Oil of the sums due on its unpaid invoices for the crude oil supplied by the company to Petrotrin during the period 1st January 2018 to the 28th February 2018 in the amount of US$2,284,398.40 together with interest at the rate of 3 per cent per annum from the date when each payment fell due until the date of the Award.

No evidence of corrupt practices by AV Oil

The panel of arbitrators found that Petrotrin did not have reasonable grounds for suspecting that AV Oil had misconducted itself or otherwise been involved in wrongful or fraudulent activity which would have normally entitled Petrotrin to terminate the IPSC Agreement under Article 29.1. It followed therefore, that AV Oil also has the right to be paid damages for wrongful termination of the IPSC Agreement. Those damages to AV Oil will include loss of net earnings for the period from 19th November 2019 to the 18th November 2024.

Further, because of Petrotrin’s inability to establish that it had reasonable grounds for suspecting that AV Oil had misconducted itself or otherwise been involved in wrongful or fraudulent activity, which would have entitled Petrotrin to terminate the IPSC Agreement and because it had been unable to prove that AV Oil was involved in seal tampering or any inappropriate practice in the process of the delivery of crude oil to Petrotrin during the period April 2016 to July 2017, Head 1 of Petrotrin’s counterclaim for the sum of US$143,892,397.12 was dismissed.

As a consequence of the decision of the panel, in addition to the sums provided for and mentioned above, the financial exposure to Petrotrin for assessed damages could be as high as an additional TT$800,000,000.00, which will not include further legal costs. This is why this matter has been referred to by many commentators as the “billion-dollar claim”.

Further legal action will bring additional costs with low chance of success

The Board of Directors of Petrotrin carefully considered the consequences of the partial award and the extremely strong view held by its own legal team that appeared before the arbitrators that further litigation should be commenced to have the award set aside.

To assist with its considerations and having regard to the view of the legal team, the Board sought not only one but two legal opinions, one from Rolston Nelson S.C., a leading Senior Counsel in commercial law, a former Justice of Appeal and a former Judge of the Caribbean Court of Justice, and Simon Hughes Q.C. a leading Silk specializing in arbitrations in the construction and energy sectors in the United Kingdom. It was the opinion of these senior specialist attorneys that further litigation was not advisable, the chances of success were low, and settlement of the matter should be pursued.

The Board also noted that the decision of the arbitration panel comprising as aforementioned Sir Dennis Byron, along with Petrotrin’s nominee- Mr. Justice Humphrey Stollmeyer, a former Court of Appeal Judge and Lord David Hope, the former Deputy President of the Supreme Court of the United Kingdom and Privy Councilor was not only firm but unanimous.

Finally, the Board was very conscious of the advice it received that setting aside a decision of an arbitration panel is not an easy task, and courts are minded to respect the decisions of arbitrators, unless the decision can be shown to be entirely unsupportable. Among other things, the process to set aside the decision would involve even further

litigation at the High Court, the Court of Appeal and the Privy Council only to return, if Petrotrin is successful, to the original arbitration panel identified above for a rehearing.

The legal costs and time already incurred in this matter are already very significant. Further litigation, along with the aforementioned exposure to consequential damages if Petrotrin were to continue to be unsuccessful, could take the financial exposure to well over One Billion Trinidad and Tobago Dollars.

It should also be mentioned that currently, the TPHL Group is pursuing refinancing of all of its debt. The Board was made aware by TPHL’s international financial advisors that the prospects for favourable terms are threatened with pending litigation of this magnitude; more so if findings were to once again go against Petrotrin.

A beneficial settlement

Therefore, the Board once more, admittedly against the strong views of its legal team that appeared before the tribunal, appointed a high-level management team which entered into discussions with AV Oil to explore the terms of a settlement acceptable to both sides. Those discussions were based solely on operational data and proved very fruitful in arriving at a settlement in the following terms:

(i) The payment to AV Oil of the sums already awarded by the arbitration panel for crude oil already supplied.

(ii) Payment to AV Oil of the sum of TT$18,000,000.00 in full and final satisfaction of any and all damages suffered by AV Oil in connection with the termination of the IPSC.

(iii) Payment to AV Oil of a sum of money to be agreed by the Parties representing reasonable legal costs and expenses incurred by AV Oil in the arbitration proceedings or such sum to be assessed by the Tribunal in default of agreement.

(iv) Heritage to grant an Enhanced Production Services Contract (EPSC) to AV Oil for a period of ten (10) years.

(v) AV Oil accepts and acknowledges that Petrotrin shall not be liable for and shall not pay any losses for mobilisation or demobilisation costs and expenses claimed by AV Oil in the Arbitration and AV Oil hereby waives and relinquishes any call for payment in relation thereto including its request for the sum US$460,000.00 as made in the arbitration proceedings before the Tribunal.

(vi) AV Oil agrees to pay to Petrotrin all outstanding Oil Impost fees under the IPSC in the sum of TT$660,000.00 and fees for Head Licence and other fees in the sum of US$164,000.00 within the first full month of AV Oil’s payment advice under the new EPSC.

(vii) AV Oil agrees to pay the outstanding funds for abandonment expenses under the IPSC sub-licence in the amount of US$2,200,000.00.

There can be no doubt that the settlement of this matter, with the payment by Petrotrin of $18,000,000.00 in damages in addition to the sums awarded by the Tribunal to AV Oil for crude oil determined by the Tribunal to have already been supplied and received to Petrotrin’s benefit, is in the circumstances, a very good outcome for Petrotrin and Trinidad and Tobago.

New Exploration Licence between Heritage and AV Oil

With respect to the grant of a new licence by Heritage on terms no more favorable than licences currently being granted; the Board was mindful of the fact that no finding of wrongdoing on the part of AV Oil had been made out, and that prior to this dispute, AV Oil had been a good long-standing partner in Petrotrin’s Joint Venture programme, which continues to be a crucial component to the production of oil in this country.

This grant is consistent with Heritage’s strategy of having these marginal fields operated and funded by smaller operators.

It is very important to note that Heritage has introduced and implemented modern production measuring tools which will significantly reduce the risk of similar disputes in the future.

What now remains to be settled is the question of costs of the arbitration, which is likely to be substantial, and is for Petrotrin’s account. The parties are currently exchanging supporting documents and attempting to arrive at a negotiated position. If this is not possible, the parties will return to the arbitration panel for its assistance in the assessment of those costs.

A win in the circumstances for Petrotrin, TPHL and T&T

Petrotrin acknowledges that this matter has generated a tremendous amount of public interest. The Board is however, extremely confident that having not been successful at the arbitration, this outcome is favorable and in the best interest of Petrotrin, the TPHL Group of Companies and the Country.

Source: https://www.guardian.co.tt/news/petrotr ... 322ee144ba

[zoom rader]

^^^ Wat a Cont tree the red government investigating themselves and going not guilty.

What a jack arse Cont tree

Trinidad take bull red government wins and you have to foot de bill

[Habit7]

All's well that ends well.

Now back to work, the oil price is high and local oil production is ramping up.

[sam1978]

All's well that ends well.

Now back to work, the oil price is high and local oil production is ramping up.

Agreed. Keet get through and he back in good graces with the injun.

[zoom rader]

All's well that ends well.

Now back to work, the oil price is high and local oil production is ramping up.

Red government company
Red government scamp
Red government arbitration board

Red government win

Citizens have to foot de bull

Trinidad take bull

[daring dragoon]

decision made while knocking glass of blue? how can this be called a win ?

[aaron17]

jus like big pharma..win

[sMASH]

Theif DOES like to see theif with long bag.

WOW

WOW.



Against the strong objection of its own legal team.
The board doing its own ting again.

[The_Honourable]

What happen to allyuh?

2 red teams won, taxpayers loss, jacklegs blame Kamla, finances inside for 2025.

Cheers!

[eliteauto]

All's well that ends well.

Now back to work, the oil price is high and local oil production is ramping up.

So when is the refinery reopening?

[sMASH]

I see an article bout scrap iron dealers had a meeting to discuss petrotrin.

[sMASH]

https://trinidadexpress.com/business/lo ... ium=social

[zoom rader]

All's well that ends well.

Now back to work, the oil price is high and local oil production is ramping up.

So when is the refinery reopening?

When 1% gets it for nutting

Perfectly planned

[Habit7]

All's well that ends well.

Now back to work, the oil price is high and local oil production is ramping up.

So when is the refinery reopening?

Whenever Roget finds the money and the govt is unencumbered in any way. T&T govt needs to stay far from PaP refinery.

[sMASH]

Quamina is tphl director and nazim is Rowley good friend. And the decisions ws against the recommendations of tphl legal team.

[De Dragon]

Imagine kekeing when a blatant fraud was not only not prosecuted, but rewarded
Imagine, the PM of a country calling a man accused of the fraud the same night the revelation was made under the guise of "he iz meh fren, kekke keke keke"
Imagine having your other "fren" who you personally appointed, discontinue the matter against you first "fren" contrary to legal advice
Imagine being so sickeningly partisan to not only condone this, but actually applaud it.

[sMASH]

Imsgine being the guy in the international corruption index office reading this story and the zipline story.

[sam1978]

We don’t have a he money to pay this, property tax needs to come on stream immediately.

[agent007]

Do tax payers ever win in this country? Asking a genuine question guys. Is only flops in the papers about how much money was lost but we don't hear any gains to the treasury or that's for propery tax and speeding tickets?

[Redman]

It comes down to being unable/unwilling to prove the case to the required level.

You make a claim- you have to support your position.

[alfa]

Problem is no one cares about the issues at long as they can get gas at the pumps at the same prices. The decisions came at a good time too as right now the trending topic is Gary. Petrotrin is stale news. They could give him another lease field today and the average Trini would think all that was already shut down when petrotrin had closed so it wouldn't make a difference. Imagine a friend from central seeing a pumping jack in south and asking me why that still working as petrotrin was closed smh lol.
As we speak they're sprucing up the cats hill field to have over to av in a better condition come next Friday. Victory for Rowley and AV

[death365]

pnm have a financier for life now

[Habit7]

I feel sorry for allyuh. You all were sold a political story full of intrigue and suspense that was expected to ride the UNC back into power in 2020.

Now there remains no evidence of fraud by A&V
No evidence of wire transfer as Moonilal showed the fake document
No Miami bank account as he also claimed

All you have to hold on to is the hope that there was corruption in the face of the reality there was none. Justice is not your desired outcome, it is following the process established. And the 3 eminent judges showed a just evaluation of both claims. Deborah Peake and her team would surely like a second bite of the legal fees cherry, but if we end up back here again, it would be the same lament.

A&V received the $84,699,879.47 that had been held in escrow since 2017 and US$2,284,398.40 for undisputed oil they gave in 2018. We don't need property tax to pay them, it is not the $1 billion in claims that some were promising that was going to happen. They exploited the oil, they sent it to Petrotrin, they are getting the money for their work and Petrotrin sold the oil for a profit.

For 20yrs we have had to watch and use the North Piarco Terminal at the airport that we know for certain there was corruption. Yet some of the same ppl here lamenting over this completed process, sing Panday's praises even as he has been spared justice for his bribery charges. So spare me the bottled outrage.

A&V are here like other lease operators and JVs to enhance our oil production. Prices are high, I hope Heritage Petroleum makes an even bigger profit this year and more ppl are hired in the E&P industry.

[alfa]

I feel sorry for allyuh. You all were sold a political story full of intrigue and suspense that was expected to ride the UNC back into power in 2020.

Now there remains no evidence of fraud by A&V
No evidence of wire transfer as Moonilal showed the fake document
No Miami bank account as he also claimed

All you have to hold on to is the hope that there was corruption in the face of the reality there was none. Justice is not your desired outcome, it is following the process established. And the 3 eminent judges showed a just evaluation of both claims. Deborah Peake and her team would surely like a second bite of the legal fees cherry, but if we end up back here again, it would be the same lament.

A&V received the $84,699,879.47 that had been held in escrow since 2017 and US$2,284,398.40 for undisputed oil they gave in 2018. We don't need property tax to pay them, it is not the $1 billion in claims that some were promising that was going to happen. They exploited the oil, they sent it to Petrotrin, they are getting the money for their work and Petrotrin sold the oil for a profit.

For 20yrs we have had to watch and use the North Piarco Terminal at the airport that we know for certain there was corruption. Yet some of the same ppl here lamenting over this completed process, sing Panday's praises even as he has been spared justice for his bribery charges. So spare me the bottled outrage.

A&V are here like other lease operators and JVs to enhance our oil production. Prices are high, I hope Heritage Petroleum makes an even bigger profit this year and more ppl are hired in the E&P industry.

So you know there was corruption in the airport but none in the av scandal. But then again you quoted an article that said flooding in necessary and beneficial so that alone tells me your moral compass is demagnetized.I could give you all the inside details of the av fiasco but you don't listen to reports from the ground, just what your Lord and savior Dr kcr tells you

[Habit7]

So you know there was corruption in the airport but none in the av scandal. But then again you quoted an article that said flooding in necessary and beneficial so that alone tells me your moral compass is demagnetized.I could give you all the inside details of the av fiasco but you don't listen to reports from the ground, just what your Lord and savior Dr kcr tells you

If you interpret what a senior lecturer in engineering has to say flooding, as badly as you do "reports from the ground" then you are doing us a favour by keeping silent.