Frontera Share Discussion Threads

[mick1909] 17/9/2018 21:30

So if all holders put a sell limit on their holdings e.g 100p in theory theyd be no shares for there to be used to short so would stop big loses in share price for no apparent reason

[mick1909] 17/9/2018 20:39

IMHO the possibility of payment with shares or cash announced in July was a baited trap by FRR. FRR thought that YA were probably shorting prior to receiving shares, but couldn't prove that they were. By leaving the possibility open, YA continued shorting, but were then left without the shares and were paid in cash. They probably continued shorting to drive the price down, enabling them to buy back the shares they needed to replace at a cheaper price. However, they were caught out by the NDA RNS and subsequent rise.As YA served a default notice on FRR, it has necessitated a RNS, resulting in the drop in the share price allowing YA to buy to cover their short. Spreadex have picked up on this and now are advising their clients that all shorts on FRR will be closed tonight. Either Spreadex are worried that a big rise will leave some of their clients defaulting or whoever loaned the shares now want them back.

[mick1909] 17/9/2018 20:39

IMHO the possibility of payment with shares or cash announced in July was a baited trap by FRR. FRR thought that YA were probably shorting prior to receiving shares, but couldn't prove that they were. By leaving the possibility open, YA continued shorting, but were then left without the shares and were paid in cash. They probably continued shorting to drive the price down, enabling them to buy back the shares they needed to replace at a cheaper price. However, they were caught out by the NDA RNS and subsequent rise.As YA served a default notice on FRR, it has necessitated a RNS, resulting in the drop in the share price allowing YA to buy to cover their short. Spreadex have picked up on this and now are advising their clients that all shorts on FRR will be closed tonight. Either Spreadex are worried that a big rise will leave some of their clients defaulting or whoever loaned the shares now want them back.

[thefozzer] 17/9/2018 18:47

Fair call from Malcy. He called oil bang on. Much better than share price

[thefozzer] 17/9/2018 18:45

The word on the street is that Zaza is meeting with investors in Oct...

Is Zaza expecting the 2 majors to be named in Sep perhaps? Why bother otherwise.

[tickboo] 17/9/2018 18:44

Not everyone's cuppa but Malcy's view -Frontera are having some problems with Yorkville it seems over method of payment. As I thought I saw it FRR had the option of paying monthly by cash in order not to issue more shares into the market, at least that's what I wrote back then. It seems that unsurprisingly they were shocked to get a conversion notice in respect of 82m shares for August and 94m shares for September payment. In addition there is now a default notice been issued and total closing payment is expected.The situation seems to revolve around whether FRR are entitled to pay with cash or whether Yorkville can demand shares, at present it looks to be one for the lawyers although I would have thought that it was pretty much in black and white. This does highlight the problem that has been rife in the sector for some years that borrowing money from operations that take shares in return leaves companies wide open to crippling dilution and should be avoided at all costs.On the upside for FRR the recent RNS showed that these are exciting times at Block 12 in Georgia with distinct possibilities on the farm-out front with technical due diligence being done at the moment. If either were to result in a successful deal then the upside for Frontera is considerable.

[thefozzer] 17/9/2018 18:41

Loggy,

It's clear that FRR have been paying back YA in cash. These two quick succession conversions are a mystery but the lawyers have red flagged them.

That's good enough for me.

[thefozzer] 17/9/2018 18:38

Loggy,

That's ridiculous as FRR have an agreement to pay with cash so the date will be fixed, probably the end of the month.

[thefozzer] 17/9/2018 18:36

My question to you is do you think YA forward sold their conversions.

[loglorry1] 17/9/2018 18:35

How can you have two conversion notices a week apart?
---------

There are many ways. The contract might say

"... to be paid monthly in cash or a conversion notice issued at any date up to and including the 28th day of each month..."

Thus a conversion notice could be issued on the 28th August (for August) and another in 3rd September (for September). In fact that's quite likely as it allows YA to choose an advantageous conversation price during the month.

Regardless, why would any conversion notice have been issued in August if the T wells were producing oil and it was being sent to market by train, as shown on Twitter?

You claim YA have messed up but refuse to say how. I suspect if it was a simple clerical error it could have been sorted with a simple phone call.

[thefozzer] 17/9/2018 18:30

Loggy.

Can you answer the question?

Is it feasible for two conversion requests a week apart?

The last one being the day of the JV RNS.

Either Zaza is an amazing poker player or he holds a full house.

[popples] 17/9/2018 18:25

Joeking1
Have you a stutter?
If not please stop filling this board with your repeated posts. Just boring !!!

[thefozzer] 17/9/2018 18:24

Loggy. Any idea when the settlement day is?

[thefozzer] 17/9/2018 18:23

How can you have two conversion notices a week apart?

[thefozzer] 17/9/2018 18:22

So it's been through the lawyers and suits have red flagged something big

[thefozzer] 17/9/2018 18:21

Loggy, I refer you to the RNS

the Company had serious concerns as to the validity of the Conversion Notices and the calculations contained therein and (ii) the Company does not consider that it would be appropriate to action any conversions in respect of the Conversion Notices pending further investigation

[joe king1] 17/9/2018 18:16

over 4 years fudder has been ramping FRR


Fudder, you need to be rational, the shock has got to you.

We know you are rattled and scared. It's only money

[loglorry1] 17/9/2018 18:15

@fozzy I'll try one last time.

You say YA have screwed up. Specifically how? Was it for example they issued a conversion notice after having been paid fully in cash?

[thefozzer] 17/9/2018 18:15

Loggy.

Answer this dear boy. Why have YA convert twice in a week? The last one being the day of the JV RNS.

It's bobbins and I think Zaza isn't having it. Some 22yr old desk boy will get the chop for this.

[joe king1] 17/9/2018 18:10

"Go Zara, Full backing from me"

FFS, hahahahahahahahhahahahhahaha
Fudder, you're completely insignificant to FRR.
To us you're the clown who has escaped.





Over 4 years fudder has been ramping FRR


Fudder, you need to be rational, the shock has got to you.

We know you are rattled and scared. It's only money

[thefozzer] 17/9/2018 18:10

Tickboo.

It's bobbins and I think Loggy knows it deep down.

Zaza suspects YA have been up to something. Full support to Zaza.

See you in Oct hopefully.

[joe king1] 17/9/2018 18:08

over 4 years fudder has been ramping FRR


Fudder, you need to be rational, the shock has got to you.

We know you are rattled and scared. It's only money

[thefozzer] 17/9/2018 18:07

Loggy,

I'm being totally honest with you.

I believe Zaza is about to drop an E bomb. If little ol FRR were on the ropes they would be kissing the feet of YA.

Ok for example you rent a flat and pay the rent each month on 28th as per agreement. Then the landlord takes an early payment on the 05th. Who is a fault? 2 shares converts in a week...hmmmm

Go Zaza. Full backing from me. If FRR can do the second week in Oct I'll be there to shake his hand.

[tickboo] 17/9/2018 18:06

If FRR had missed a payment or two this would have fallen a lot more. If RNS was, as usual, poorly written leaving us to speculate. The FPR has emailed some holders and posted on LSE saying the cash payments were made hence FRR is disputing the conversion and I guess when they say investigate YA is referring to establishing if they were forward selling shares.