Frontera Share Discussion Threads

[bumpa33] 20/9/2018 10:14

Heavily offered, quell surprise...

[bumpa33] 20/9/2018 10:06

Further from TW

My first question would be “why are you lying to investors over the $2.65 million you owe Yorkville?” I have now told Nomad Cairn where to look for emails which show Frontera is lying so if it does its job properly it will demand them and then quit as it emerges that it has put its name to slam dunk lies. My second question would thus be “what will you do when no other Nomad deigns to act for you and Frontera is booted off AIM?”

[mick1909] 20/9/2018 09:32

Madpunter906 postsRE: WhatLegal representation may have told them only to disclose what we have already have in the two RNS's. If FRR say that they paid, but YA didn't accept the payment because they wanted shares, does that qualify as FRR saying they paid? It could become messy with the interpretation and affect any legal case. Hence, we are only told by YJ on this bb that they paid and not through the official channels.

[loglorry1] 20/9/2018 09:18

I suppose WShak one could equally argue why the debt holders accepted new notes with a PIK rather than be paid or take the company assets?

[bumpa33] 20/9/2018 09:10

“Tarnish their name”

Funny. Really funny.

[tickboo] 20/9/2018 09:04

Because they want to pay their debts as like now, defaulting would tarnish their name and make any future finance more difficult.

[tickboo] 20/9/2018 09:02

Oil prices collapsed so it wasn't economically viable.

[wshak] 20/9/2018 09:02

tickboo,

FRR said they didn't have to pay at all as they weren't liable for subsidiary debt as there was no parent guarantee. If so, why re-issue the debt WITH a parent guarantee?

[wshak] 20/9/2018 09:00

Whatever happened to this farm-out? Varang were never mentioned again after 16 May 2016. They spent a few pennies, then disappeared!

10 Apr 2014



Frontera Resources Corporation (London Stock Exchange, AIM Market - Symbol: FRR), an independent oil and gas exploration and production company, is pleased to announce that its wholly-owned subsidiary, Frontera Resources Georgia Corporation, has signed a farmout agreement with Varang Exploration Limited ("Varang Exploration"), a wholly owned subsidiary of a privately held independent natural resources investment group, for the farmout of up to a 50% working interest in Frontera's Taribani Field and Taribani Field Complex, situated within Block 12 in Georgia.

In consideration for the transaction, Frontera will receive a carry on its future expenditure on the Taribani Field and the greater Taribani Field Complex of up to approximately US$36 million, for the costs associated with a seven well drilling program over three phases. Frontera will continue to act as managing Operator for all planned operations. The Company will retain 100% working interest throughout the balance of its Block 12 holdings.

[mick1909] 20/9/2018 08:54

I see it as a win too funny how wassweem shakooor doesnt

[tickboo] 20/9/2018 08:53

They got what they wanted which was to roll the debt over as they did with the other creditors

[tickboo] 20/9/2018 08:53

They got what they wanted which was to roll the debt over as they did with the other creditors.

[wshak] 20/9/2018 08:49

So FRR never lose legal cases? I suppose that's true if they bend over and humiliatingly back down before it gets to court ...


July 2016



Frontera Resources Holdings LLC filed for Chapter 7 liquidation last Thursday (21 July) with approximately US$30mln of 10% convertible notes due to be redeemed on 1 August.


Frontera Resources Corporation (FRR) insists that the notes were issued by the subsidiary “on an unsecured basis and without a parent company guarantee”.

In light of possible legal action from the creditors to try and recoup some of the debt, FRR is seeking a declaration from the liquidator that it is not liable for payment.

SP Angel was critical of the oil and gas firm, stating: “That a management team would not think that they owe monies that were borrowed either shows intellectual deficit, moral deficit, or both.”

The broker added that the issue may affect the company’s future funding options.

Frontera, meanwhile, said its own operations are progressing on schedule and should lead to an increased production of oil and gas which will help boost revenues.

6 months later, 29 December 2016



Frontera Resources Corporation (AIM: FRR), an independent oil and gas exploration and production company ("Frontera" or the "Company"), is pleased to announce that, further to the announcement of 25 July 2016, it has restructured the 10% notes (the "Old Notes") issued by Frontera Resources Holdings LLC ("FRH"), a wholly-owned subsidiary of the Company, on 1 August 2011. This restructuring has been effected by exchanging the Old Notes which had maturity date of 1 August 2016, to new notes ("New Notes") which have maturity date of 1 August 2020. The New Notes are issued by Frontera International Corporation, a fully-owned subsidiary of the Company, and bear interest rate of 10 per cent. if paid in cash or 12 per cent. if paid in-kind with additional notes at the Company's election. The New Notes, which are not convertible into ordinary shares of the Company, are secured and, in aggregate, have a face value of $30,063,276 and an effective date of 1 August 2016. Other than the terms described above, the terms of the New Notes remain materially unchanged as previously announced. In furtherance of the restructuring, all previously announced legal proceedings related to the Old Notes will now be dismissed.

[mick1909] 20/9/2018 08:44

https://www.sec.gov/litigation/litreleases/2012/lr22510.htm

[wshak] 20/9/2018 08:19

Ah, another shareholder meeting by #FRR where they can tick off all the things they promised after the last tummy tickling session. Mugs will go there full of anger, demanding answers. They'll come back full of hope as a lot more promises are made, nudge, nudge, wink

[mick1909] 20/9/2018 07:58

Zibrahimovic3,995 postsDoubleheadedcoinMull over this...The final tranche were issued on the 4th of April 2018. They were allowed on the market on the 11th with an share price of 0.6p.2 days later once they were sold into the market, came the after Hours news timely on Friday the 13th from Winnifroth about the arbitration. Coincidence or what? The share price has never recovered despite plenty of good news since.I think this will be a big part of the investigation. I think YA have been manipulating the share price with all those cancelled trades too and that as well as the arbitration had highlighted the BoD to something more sinister. I agree with madpunter in I think the latest deal was to allow YA to hang themselves..which it seems they may have done.

[tickboo] 20/9/2018 07:57

Why would be give TW any time? His accusations were not published in official channels and the previous 2 RNSs refute his claims anyway.

[loglorry1] 20/9/2018 07:50

I note in today's RNS Frontera make no attempt to refute Winnirith's claims that FRR have been lying.

Instead they propose a shareholder meeting. We know how these go don't we? Zaza all smiles with his groupie audience with plenty of nudge nudge comments about how well things are going. Then we get the placing.

How simple it would be to just release an RNS with flow rates and a statement that YA have been paid in cash. That's the best way to burn shorts.

[tune player] 20/9/2018 07:33

Go Stan go on son keep it up......it’s as if you’re winnifroth himself.

[mick1909] 20/9/2018 07:15

Madpunter910 postsRE: just loveThey phoned the Broker/Brokers they usually sell through and told them to forward sell another batch of shares IMHO. The Broker/Brokers didn't want to lose their business, so they take the trade on trust. YA then have a certain amount of time to produce a certificate. Therefore, before the July agreement allowing FRR to pay in cash; shares or pay off the whole of the loan, YA obtained the shares from FRR after already selling them. The reduced price from the constant selling meant that they received even more shares from FRR, as the amount to cover the payment increases with the shares worth less. YA also profited from getting the shares at a discount :-Variable Conversion Price" means 90% of the lowest daily volume weighted average price of the ordinary shares of the Company (as reported by Bloomberg) over the five consecutive trading days expiring on the trading day immediately prior to the date of delivery of the relevant conversion notice.Therefore, by illegally naked shorting ( selling shares they do not already possess), they a) gain more shares; b) sell at a price far greater than the 10% discount; and c) lower the market cap. of FRR, so that any future loans would require an even greater number of shares. Hence, why these are referred to as death spiral loans. However, many junior miners and oil + gas companies often have little alternative when already in debt. If they didn't naked short they could be viewed as a necessary evil, that allows some companies to continue trading. Hopefully, YA and the rest of the brat pack shorters, TW et al will get their just deserts from Uncle Sam