There was just no decent news, and it was HOT, and... Nawras have decided to block all encrypted VPNs for some reason, so I had to go back to hated OmanHel. This is the life.
I was also busy at work, earning treasure for my lords and masters at the Ministry. They fortunately took my advice about avoiding the British Petroleum call option, at least for the moment, and saved a few squillion as BP's share price subsequently proceeded to continue to plummet harder than an oil drenched pelican. This is how one earns a crust, dear friends. (But, if you're interested, next week may be a good time to strike, if you're rich, diversified and of a speculative mood.)
So, what's been happening here in Oman?
Well, the Abu Dhabi royal family sorted out their ownership of Blue City's most influential bonds, and celebrated with a mini-PR campaign celebrating the news in Abu Dhabi royal family controlled newspaper The National. Naturally.
All great news for Oman, obviously, and the press flurry included a delightful puff piece by normally quite solid reporter Bradley Hope on the tribulations of poor CEO Richard Russel and how it was all doomed before he even started. Wonderful.
More to come next week on Blue City, as there is lots of stuff settling down behind the scenes on-going, what with Bahraini co-initiators of the project AAJH now backed by also rather flush Qatar, Blue City forced to post loads of interesting documents and letters by the insurers of Anees' vast debt, and AAJH securing an injunction from the Omani Supreme Court while the lawyers do battle again as to who owns the almost bankrupt development holding company...
Supreme Court ---- Judicial decision
Issued at the session on Wednesday, 21st, June, 2010.
From the Supreme Court (Trading Department)
Formed of vice-chairman of the court, attorney Khalifa bin Muhammad bin Abdullah Al Hadhramy, the membership of lawyers;
D. Muhammad Salih Muhammad Sayid Ahmad
Ahmad bin Ayashy Al Jandoobi
Muhammad Jamal Al Deen Sulaiman
Kamal Amin Abd Al Nabi
And Secretary Thabit bin Said Al Humaidi
(Firstly) to look into the request for a stay of the ruling presented in the appeal No. 90/2010 in Verdict No. 349/2008 by appellants:
Oriental and African Strategic Investment Services, Ltd
OASIS Middle East Holding Company, Ltd
Represented by attorney Mona Tahir Ahmad Amer from Qays Al Qasimy and Mona Amer Lawyers and Legal Consultancy Office.
Appealed against:
Al-Zawbaa Company (LLC) represented by Yassir Al Salami and his Associates Lawyers and Legal Consultancy office.
(Secondly) to look into the request for a stay of the ruling presented in the appeal No. 95/2010 in Verdict No. 349/2008 by appellant:
Al-Zawbaa Company (LLC) represented by attorney Yassir bin Obaid bin Mosa Al Salami from Yassir Al Salami and his Associates Lawyers and Legal Consultancy Office.
Appealed againt:
Oriental and African Strategic Investment Services, Ltd
OASIS Middle East Holding Company, Ltd
AAJ Holdings Company represented by Qays Al Qasimy and Mona Amer Lawyers and Legal Consultancy Office.
(Thirdly) to look into the request for a stay of the ruling presented in the appeal No. 98/2010 in Verdict No. 349/2008 by appellant:
AAJ Holdings Company represented by attorney Ez Al Deen Muhammad Othman Al Sharif from Salim Al Suneidy and Ali Al Kasby and Associates Lawyers and Legal Consultancy Office.
After review of appeal papers, it is discerned that the grounds on which the request for a stay of the ruling is based are serious. Thereby, it is difficult to remedy the grave danger in case the ruling is performed prior to the decision subject to the appeal. Consequently, a temporary stay of the ruling will be granted, in accordance with Article (245) in the Code of Civil and Commercial Procedure, by all appellants except Oriental and African Strategic Investment Services, Ltd for its appeal is not accepted due to removing it without a capacity (according to the document by the notary public in the UK which confirms that Mr. John Willoughby Giles Catchpole is the director of Oriental and African Strategic Investment Services, Ltd, which is different from the appellant, as well as that the power of attorney of the company’s attorney is not signed by Mr. John Willoughby Giles Catchpole. The signature attributed to Mr. John Willoughby is set in a paper independent of the power of attorney, which lessens the validity of it.
For the reasons aforementioned:
The court ordered to suspend the ruling of the impugned decision for appellants Al-Zawbaa Company in appeal No. (95/2010) and AAJ Holdings in appeal No. (98/2010), as well as appellant OASIS Middle East Holding Company, Ltd in only appeal No. (90/2010), pending a decision on appeal and the legal proceedings.
Rejected the request for a stay of the ruling presented by appellant Oriental and African Strategic Investment Services, Ltd. The request expenses are imposed on the appellant.
So a hint of promise for AAJH. Their new lawyer (Saddam Hussein's ex-defense brief) will now at least get a chance to enhance his reputation.
Meanwhile,
HM has been on a visit to Kuwait.
Photo: HM meets the Emir of Kuwait. The party scene at the Emir's pad near Ras Madrakka is probably not HM's sort-a gig... (ripped form the Observer)It would probably have been easier for him to meet the Emir of Kuwait while he was on one of his very regular (every few weeks or so) private visits to his
Who can blame him?
In oil and Gas news, yet another new operator decided to quit Oman, with Aussie battlers Oilex deciding to exit Block 56 in south Oman, claiming bigger fish to fry. Sad. They have such cute accents.
The story on BG's exit (broken here) eventually made the mainstream media too.
HE Jashmi, Undersec at the MOG, was quoted in Reuters today that, surprise surprise, 100% Omani Government owned and EP Operator wannabe Oman Oil was "in discussions with the MOG" on taking over the block where BG has proven has lots of (expensive, hard to produce) gas.
As the Deputy Chairman of Oman Oil Co is also, as it happens, the Minister of Oil and Gas, HE Dr. Rumhy, that must have been a rather schizophrenic discussion... LOL. Like I said, expect a deal involving using the gas to develop some heavy oil elsewhere soon... You heard it here first folks.
Finally,
Is Israel about to hit Iran? There are reliable reports they have secured a Saudi air corridor. There does seem to be a concerning flurry of diplomacy readers.
I do hope not... But then one can hardly predict the Israelis... Advice: Avoid Thumrait and Masirah, and secured high bits of Mussandam, for the next few weeks.
Just a thought!
