Frontera Share Discussion Threads

[tickboo] 17/9/2018 11:43

It's pretty obvious the conversion notice came as a result of the 7am RNS.

[dodge city] 17/9/2018 11:32

Funny how Zaza put out an operational update on Sept 3rd, the same day as they were given a conversion notice.

Coincidence or what.

[loglorry1] 17/9/2018 11:23

@fozzy looks like FRR paid YA in cash in June/July then we're late paying in August so YA issued conversion notices. They did another conversion at the start of September as per their entitlement. When FRR refused to issue shares YA put them.in default.

YA deals with businesses that are on the brink all the time. They'll have a cast iron case here.

Zaza is desparate to raise. I wouldn't be surprised if he had put shareholders in this position on purpose. He's basically saying put in more money after bad or I'll have to hand the keys over to YA.

[thefozzer] 17/9/2018 11:23

Loggy,

Does it not seem off to you that YA grabbed another batch of shares on the 3rd SEP? The day of the JV RNS and just a week after the Aug conversion notice.

Seems dodgy to me. You'd be a fool to bet against FRR in a legal case.

[bumpa33] 17/9/2018 11:16

Had noticed that PB have been quiet, put it down to the summer lull.

Any chance they try even without someone underwriting it? They were running on fumes anyway, without this now hanging over them.

[thefozzer] 17/9/2018 11:11

I think you and Wshak are getting a tad over excited. Storm in a tea cup

[thefozzer] 17/9/2018 11:08

They'll have a very strong case for sure.
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You think so? They did two conversions a week apart. Sounds dodgy to even a laymen such as me!!!

FRR always win their legal case. There may not be good at getting oil out of the ground but they always win their legal case!!!

I have a feeling we'll get news on the JV very soon.

[loglorry1] 17/9/2018 11:05

You may not like what YA do but they are good at what they do and are a good business who make good money for their investors.

They've got in house lawyers who have a lot of experience. They'll have a very strong case for sure.

[loglorry1] 17/9/2018 11:03

PB have not been active since June. In any case they need an underwriter. I guess a bucket shop might step in to help out at a big enough discount provided they can get short enough first.

If Zaza has tried to squeeze YA he's an idiot as he needs pals like YA a lot more than they need him. Who else will help him raise?

[thefozzer] 17/9/2018 11:00

I've seen it all Loggy saying YA are a class act.

This does not mean T39 has failed, what an assumption.

More twists to come and another big spike.

Just a view.

[loglorry1] 17/9/2018 10:51

Fozzy forget all this (although it's bad enough) the real show is that the T wells have failed.

If not then there would be cash for YA.

If failed then who'd be interested in a JV?

It's all coming home to roost for anyone who believed Zaza's BS.

[thefozzer] 17/9/2018 10:51

They could not issue shares to YA as that effectively confirns the T wells have failed.
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LOL, So YA convert just days apart with the Sep conversion being the day the JV RNS? Smells or sells fishy.

I'm backing FRR 100%, FRR's legal team is excellent.

JV news very soon...

[loglorry1] 17/9/2018 10:46

My view Bumpa is FRR were desparate to raise but nobody would buy their story until they released flow rates.

They could not issue shares to YA as that effectively confirns the T wells have failed.

In the end YA gave up and forced today's RNS via the NOMAD. They may need to buy back a few they forward sold hence the buying today. YA are a class act tho so I don't think this will last long.

Where does this leave FRR? No cash, no oil flowing, loads of debt and importantly no way to raise further funds. Who will give them cash now while in default?

The only source is PIs and surely they are not that gullible. Maybe they are if they see a big enough discount. There's always a few shorts too but it's not going to be enough.

[bumpa33] 17/9/2018 10:46

It’s clear FRR are out of cash. Whether they are now out of time too remains to be seen.

[tickboo] 17/9/2018 10:44

I imagine FRR had until 31 Aug to pay them and YA requested shares on 28 Aug which FRR is disputing as well as Sept 3 which seems very premature and I assume it's FRR's decision whether to pay in cash or shares. Not great either way.

[dodge city] 17/9/2018 10:42

2 months rent due, why Zaza no pay rent.

Is this a Georgian thing?

If Zaza come to UK as a refugee then Mrs May pay rent, and everything free.

[bumpa33] 17/9/2018 10:23

Log - FRR are effectively bust no?

Not sure how the nomad can keep this farce up much longer.

[ccr1958] 17/9/2018 10:22

Why suddenly would Zaza default, certainly created a buying op for Mr 5m .....

[loglorry1] 17/9/2018 10:22

@fozzy I said "genuine". Prospective resources are little more than a guess. Since they've spent a fortune to prove them up and failed it's not exactly worth much.

No sustained flow at T39 announced.

Majors in very early discussions so what. Maybe vultures circling to pick up a license for a couple of hundred J for all we know.