Frontera Share Discussion Threads

[thefozzer] 18/9/2018 12:57

I'm happy to engage with both Wshak and Loggy but they will get challenged.

[thefozzer] 18/9/2018 12:56

Log,

I think it's getting pretty pointless arguing any point with thefozzer as he is increasingly just making things up and presenting them as fact.
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Rubbish Wshak you cheeky man. What have I said is Fact?

You said, as a matter of fact that FRR have no money. Sorry but that is not fact.

[wshak] 18/9/2018 12:39

Another lie, I have never said that FRR would be suspended in the morning.

[tickboo] 18/9/2018 12:32

Agreed but if the majors they're talking to want the oil too they might make it messy so perhaps that's why they're still negotiating re zone 13.

[mick1909] 18/9/2018 12:32

Or more progress on the 2 majors orSchlumberger having sucess in the adjacent block

[dodge city] 18/9/2018 12:29

Confirmation of funding for Niko will set this alight.

[bumpa33] 18/9/2018 11:40

Would concur with wshak - this does look a dire situation for FRR and - considering their history - that’s saying something.

Interims by the end of the month will likely confirm just how bad it is.

[ning ning1] 18/9/2018 11:40

‘ making things up’.
It’s rich coming from someone who was telling us with post after post yesterday that we were getting suspended this morning, go and do your trolling somewhere else, you are well known on most boards, that’s all you do , bye bye.

[bumpa33] 18/9/2018 11:39

Thanks for confirming Log.

[mick1909] 18/9/2018 11:37

Log,I think it's getting pretty pointless arguing any point with thefozzer as he is increasingly just making things up and presenting them as fact.The truth is that we cannot know for sure who is right or wrong in the YA dispute. However, there is no question that the money is owed to them and FRR have not notified the market of any oil sales that are substantial enough to pay them off.We also know for a fact that the Niko money has not arrived as that would be a notifiable event.Thats correct wasseem the share price will ultimately dictate who will be correct

[wshak] 18/9/2018 11:32

Log,

I think it's getting pretty pointless arguing any point with thefozzer as he is increasingly just making things up and presenting them as fact.

The truth is that we cannot know for sure who is right or wrong in the YA dispute. However, there is no question that the money is owed to them and FRR have not notified the market of any oil sales that are substantial enough to pay them off.

We also know for a fact that the Niko money has not arrived as that would be a notifiable event.

FRR looks to me (opinion, not fact) that it is in the worst position it has been in its entire history as a result.

[mick1909] 18/9/2018 11:28

Loggy they dont need to say here YA here is 700 mil shares zaza could do it through pb

[tickboo] 18/9/2018 11:27

I think the language is telling. Purported used more than once and they're investigating which tells me they're surprised and think there's an agenda re conversion. FRR and Levan know their onions and I doubt they missed a payment.On 3 September 2018, YA II PN, Ltd. purported to issue a further conversion notice (together with the 28 August 2018 notice, the "Conversion Notices") in respect of a further 241 Preferred Shares, to be converted into 93,784,120 Ordinary Shares, in lieu of respective cash payment for the month of September.Following investigation by the Company into the circumstances surrounding YA II PN, Ltd.'s actions and the submissions of the Conversion Notices, the Company's legal advisers wrote to YA II PN, Ltd. on 12 September 2018. By that letter, YA II PN, Ltd. was informed that (i) 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. The Company and its legal advisers have received no substantive response to this letter from YA II, PN, Ltd.Instead, later on 12 September 2018, the Company received a purported notice of default from YA II PN, Ltd. in respect of the Conversion Notices (the "Purported Default Notice"), stating that the Company's failure to convert Preferred Shares in accordance with the Conversion Notices constituted a "Triggering Event" under the terms applicable to the Preferred Shares. The Purported Default Notice demands the redemption in cash of 2,650 Preferred Shares at a liquidation amount of $2,650,000.The Company vigorously disputes the validity of both the Conversion Notices and the Purported Default Notice, and is continuing to investigate YA II PN Ltd.'s actions in that regard.

[loglorry1] 18/9/2018 11:25

If you think YA make accidental conversion notice requests when they've been paid in cash that results in legal action then I'm afraid I can't help you.

[thefozzer] 18/9/2018 11:22

YA don't make these sorts of mistakes.
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lol, just do a google search of them if you think that's the case Loggy.

Zaza's legal team are Golden, you know that deep down too.

[loglorry1] 18/9/2018 11:22

If the T wells don't flow then Zaza simply pays back YA in shares.
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Oh dear @fozzy you don't seem to understand how these contracts work. YA have stated that the default trigger has happened. That will open up a load of other clauses. Zazza can't now just turn around and say "OK you can have the shares you want now" unless YA agree. As it stands unless YA have made some sort of clerical error (which is pretty silly to assume) FRR are in default. You can also forget about any sort of JV while that is going down.

[loglorry1] 18/9/2018 11:18

@Bumpa I think there was a bit of that yes. SpreadEx are small though and I don't think it is that material.

The stuff from the bulls lately is totally farcical but they are entitled to their opinion. YA don't make these sorts of mistakes.

[bumpa33] 18/9/2018 11:06

Log - is that right about the Spreadex long book closing causing the forced buying yesterday?

[tickboo] 18/9/2018 11:00

They've still got nearly 1.5bn headroom available.

[mick1909] 18/9/2018 10:59

Foz how will payback $3 mil through shares? Thats aboit 700 mil shares at current sp?

[mick1909] 18/9/2018 10:56

Levan is frr legalities expert he would not accuse YA for no reason also YA make a killing from pre selling the shares almost double to what they could make from the monthly cash payments and thought they could have there pick someone has made an error and FRR have a good track record from a legal point of view

[ning ning1] 18/9/2018 10:55

Rubbish, YA tried to be clever and now they are in deep sh* t. They deserve what’s coming to them

[thefozzer] 18/9/2018 10:54

Wow that's some theory Loggy. You're wrong but thanks all the same.

Anyway to answer your question.
If the T wells fail to flow then this a real problem for FRR's cash flow. However, I'm assuming one of the Majors are interested in the gas and have seen enough to start talking numbers. So to answer your question if the T wells don't flow there could be short term cashflow w issues but the deal on the gas is likely to be unaffected. If the T wells don't flow then Zaza simply pays back YA in shares.

It's all going to come out in the wash very soon. :-)

[loglorry1] 18/9/2018 10:41

If FRR had cash flow issues then why not let YA convert?
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I'd have thought that was pretty obvious. If YA are back converting it means the T wells have failed to produce even enough to pay off YA which is barely anything anyway. It's pretty much game over. I think Zaza is desperate to raise and he can't allow that info to get to the market. He can't admit there is no significant flow from the T wells. That's why he's refused to update the market on the EWT tests.

He can't also pay YA in cash as there isn't any.

So he's been waiting it out in the hope he can get enough interest to get a raise done.

YA have got fed up waiting and issued conversion notices. He can't allow them for reasons above so has just tried to bury them. YA has got fed up and called default on FRR and let the NOMAD know who has put this to the market.

[thefozzer] 18/9/2018 10:39

Tickboo,

Spot on. Call me a synic but if something did go short that RNS would give them a chance to close. All very odd.

Anyway, I really think this will all be over very soon :-)