Frontera Share Discussion Threads

[bumpa33] 17/11/2017 09:46

I also think they'd be singing from the rooftops by now if there was anything positive so far from Ud2.

[bumpa33] 17/11/2017 09:45

Even if it does flow - and I seriously can't see how they can attribute a 90% COS after everything that has gone before - it's gonna have to flow at one hell of a rate. As can be seen from ANGS today, they flowed but the market was expecting way more and hence punished the share price accordingly.

[dodge city] 17/11/2017 09:11

I don't see any reason why Zaza should not be able to give results from the testing carried out so far, if they have extended the testing programme.

[tickboo] 17/11/2017 09:00

Agreed, ud-2 is imperative. Obviously the delayed oil play is meant to mean we're not reliant on ud-2 but that's what those invested and the market is excited by. Zaza has slowly built some credibility in some eyes (not all!) so if it fails it will be a massive blow. Hopefully his 90% COS wasn't BS!

[loglorry1] 17/11/2017 08:57

@tickboo I did say "at a guess". If you look at other debt rescheduling agreements it is boilerplate legal stuff that if any windfalls like this one crop up then it goes to pay down debt. The debt holders are always in the driving seat in these arrangements so they can stipulate these sorts of things.

No big deal anyway as it reduces the debts on the balance sheet which is a positive.

It is quite immaterial really though. Where is news on UD2 that's the important thing.

[tickboo] 17/11/2017 08:53

Log you do talk nonsense. FRR will do what they see fit with the money which I imagine will mean it going into the ground or the pipeline. They're still owed a rebate and my bet is the new ministry seems more amenable and they'll get it this calendar year. Ud-2 results hopefully next week.

[loglorry1] 17/11/2017 08:47

At a guess I expect the $2M would need to go directly to paying down the debt that was re-scheduled. It is normal that when debt holders are asked to reschedule their debts that they get first dibs on any potential windfalls like the one received today by FRR.

I wonder what the first installment will be. Looked at ARAR's website it doesn't look like they'll have the money to pay anyway although the RNS does say they've paid the first installment

[tickboo] 17/11/2017 08:21

Bumpa I take your point but Zaza said the interim RNSs can be misconstrued and manipulated. Look at HNR when they released initial results it tanked. Anyway, I assume we'll know more in the next couple of weeks but the cash is more than welcome.

[tickboo] 17/11/2017 07:47

Good news any which way you look at it. Ud-2 news will come once testing has been complete. The MOE seem more receptive so hopefully the rebate will come too or they may carry out work in lieu so the flexi-pipeline may be sorted by the MoE. Onwards and upwards.

[bumpa33] 17/11/2017 07:30

$2m in - nice.

now where's Ud2.

[tickboo] 17/11/2017 07:28

First instalment paid and remainder Q1. Although Zaza said costs have been slashed this has to help as does the oil price (although $10 a barrel is only circa £2,000 more a day it helps!).Frontera Resources Corporation (AIM: FRR), the European focused independent oil and gas exploration and production company, is pleased to announce that it has completed enforcement proceedings with respect to the Arbitration Award (as defined below) and will receive $2,026,126.32 which is the total amount due.As previously announced, on 9 January 2008 the Company served a notice of arbitration and claim on ARAR, Inc., for breach of contract and infliction of damages. The arbitration resulted, on 16 April 2010, in the final, binding arbitration award in favour of Frontera and against the defendants ARAR Inc, ARAR Petrol ve Gas Arama Uretim Paz A.S., and Mr. Fatih Alpay (collectively, "Defendants"), in the amount of $1.43 million ("Arbitration Award"). Following a series of subsequent court hearings in the United States' courts, on 16 July 2012 the U.S. Court of Appeals for the Fifth Circuit confirmed the Final Award granting Frontera total amount of $1,552,707, which included the Arbitration Award and Frontera's attorney's fees and expenses.In order to enforce the Arbitration Award against Defendants' assets located in Turkey, in July 2010 Frontera filed an enforcement action in the 4th Commercial Court in Ankara, Turkey. Following extensive enforcement proceedings in courts in Turkey, on 20 December 2015 the 4th Commercial Court in Ankara, Turkey, adopted a decision granting Frontera's enforcement of the Arbitration Award. On 17 January 2017, the Appeals Court in Ankara, Turkey, affirmed decision of the 4th Commercial Court thereby making it final and not subject to further appeal. Following this, the enforcement was referred to the execution authorities in Turkey. As a result of the execution proceedings, Frontera will now collect, in installments, the full amount of the Arbitration Award plus statutorily prescribed interest, in the amount of $2,026,126.32.Frontera has received the first installment and the full amount is expected to be received by the end of Q1 2018.

[bumpa33] 16/11/2017 10:23

8 years of central bank funded easy money, near zero interest rates and bubbles in asset classes like I've never seen have helped to create the current crop of novice dream chasers, it reminds me of 99/2000 though even worse this time - back then it was just TMT sectors, this time it's across the board.

One day it'll all come crashing down, until then though the music carries on playing and companies like this one can tap a rich vein of gullibility and greed.

[bumpa33] 16/11/2017 10:02

If you didn't give a fig you wouldn't be bothering to reply would you.

[mr_blonde] 16/11/2017 09:53

Loglorry1
I don't want to burst your bubble being as you are on a good roll here, but I doubt anyone reads your posts or gives a fig about what you write.

[bumpa33] 16/11/2017 09:38

It is the oldest trick in the book - and it works, as can be seen by the army of devotees who fall for it.

[loglorry1] 16/11/2017 07:51

Oldest trick in the book tickboo. No way Zaza has put that money is at risk.

Also note he put the first 500k in at under 0.1p then weeks later asked mug primary bid shareholders to put money in at 0.58p! (I accept he also put more money in at that time too.)

As you see different rules apply to directors. His money isn't at any risk don't you worry.

[loglorry1] 16/11/2017 07:36

Nicandros and Zaza had a huge number of shares even before the D4E. Their debt was never going to be repaid and no equity investor would have put a dime into FRR with it there.

Very little if any of the debt came from cash Z and N put in. It was all on leiu of inflated salary etc compounded at 15pc.

There is no transparency here. We have no idea how much of the money raised is spent on exploration. Judging by th their lack of success very little.

IMO you are extremely naive if you think directors interests are aligned with shareholders now.

Good luck

[mick1909] 16/11/2017 06:21

As i dont like to see fellow investors to lose money i suggest close your short and buy frr change your moniker to Longman

[mick1909] 16/11/2017 06:12

Old logman does seem to post alot looking at other posters to back him up as he is doubting his investment strategy im sure he only has what he can afford to lose sitting in his account not sure how his account works but usually a cfd will just wipe out whats in your account depends what leverage he has i think anything over a 1p share price will see his position get taken out hopefully by the end of this week

[tickboo] 15/11/2017 22:19

The skipper, I agree. All this nonsense that they can easily take the money out is nonsense. They wouldn't put it on if they weren't sure they'd get ROI. Sure log et al with have other ideas but they're short and I'm long. Interesting to see this play out. There could be a delay in ud-2, wouldn't be FRR otherwise but the BoD are aligned, Mr Hope and Outrider want their money so this to be a success and rather than taking the assets as some suggested they've granted the longest gas transport licence. The next few weeks should be interesting either way.

[the skipper] 15/11/2017 21:30

Ah but the guys have changed haven't they? They are now fully loaded with the company's stock in lieu of their debt, yet bought a shedload more in the placings and are thus massively incentivised to create value for all shareholders.

Follow the money......

[loglorry1] 15/11/2017 13:54

Bumpa I think that may be true of the last few months but the share price and number of shares printed over the last few years tells us that the market won't put up with it indefinitely. Those trusting types like @tickboo who have been beguiled by Zaza will see the light soon.

I could perhaps believe the "this time its different" line a little bit if the guys running this company had changed. They have not. The same guys are there - their job titles may have been moved around that's all.

Further the same guys have made an absolute fortune from printing shares and selling them to private investors and have managed to produce zilch in the way of oil and gas. Why on earth would they want to change the way they conduct this business? Finding and exploiting O&G is hard work. Printing shares is easy.

[loglorry1] 15/11/2017 13:46

LOL yeah @tickboo because Zaza and dross have always been very shy getting good news out into the market. They've often held back right? For example they tweeted pictures of lorries being unloaded at Dino-2 will driling mud supplies to spike the share price (presumably to let YA sell into) then a few days later announced drilling was delayed 3 months.