Frontera Share Discussion Threads

[mick1909] 20/9/2018 13:01

In response to market inquiries with respect to the Company's announcement of 17 September 2018 (the "Announcement"), the Company would like to clarify that it has come to the Company's attention that on 28, 29, 30 August 2018 and 3 September 2018, YA II PN, Ltd. arbitrarily sold 82,077,412 ordinary shares in the Company that have not been authorised, issued and admitted to trading by the Company.The Company is continuing to investigate YA II PN Ltd.'s actions in that regard, particularly the above sales and YA II PN, Ltd.'s any other possible unauthorised dealings in shares, and is unable to comment further at this time pending further investigation with its advisers and the receipt of legal advice. So it will come out in the wash that also forward sold 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.The 93.7 mil on dates 3rd and 4th sept as on the 4th it went as high as 0.47p So the ex rate on 28th aug was 1.29 so amount owed is £186,821 ÷ by 82 mil shares is 0.228p averageSo ex rate on 3rd sept 1.292 so amount owed is £186,532 ÷ by 93.7 mil shares is 0.199p average So had 175,861,532 shares at an average 0.213pGREEDY BA^STARDS

[mick1909] 20/9/2018 12:35

tattiepicker15 postsCan't waitUntil a major see's the data and the possibilities for horizontal directional drilling. Imagine a well bore 3 miles long horizontal into a reservoir instead of 3-10 perforations vertically over 100m with old soviet wells. Big figures at low costs.

[mick1909] 20/9/2018 12:27

Doubleheadedcoin5,708 postsEU Short selling regsI think YA might be in a pickle on transparency and Section 2 C relevant perhapshttps://www.slaughterandmay.com/media/1818529/the-european-regulation-on-short-selling-and-cds.pdfJust imo

[mick1909] 20/9/2018 12:19

MadpunterRE: Bugsy findWed 11:45Copied from the link bugsy-b posted :-Georgian Light type oil will be delivered as follows: 3.1.1.1. under EXW(INCOTERMS 2010) terms, on the oil-gathering facility located on theterritory of the Primary Oil Treatment Unit of JSC "Georgian Oil and GasCorporation" in village Sartichala, Gardabani region (stationary objectregistration number 1120057) (to be loaded in oil tank cars supplied by theBuyer);As the oil from T39 contains condensate, I assume it requires treatment to separate the oil from the condensate. This facility is also on the rail network en-route to Batumi :-https://upload.wikimedia.org/wikipedia/commons/0/01/Un-georgia.pnghttp://nortonsafe.search.ask.com/search?chn=&cmpgn=&ctype=maps&doi=&geo=&guid=&o=APN11908&p2=%5EET%5Ecd00gb%5E&page=1&prt=&q=sartichala%20georgia&trackId=&ver=&d2=sartichala%20georgiahttp://www.searchanddiscovery.com/documents/2014/20273nibladze/ndx_nibladzeDedoplitsakaro in the above link is the nearest rail terminal, just north of Taribani (NNE).The line then runs through Sartichala (on the middle link road map, which if compared with the first link, the S5 road is near to the rail link).bugsy-b's post :-There was an auction of crude oil in Georgia on September 10th.. 6,000 Tonnes of crude...Today they advertise another auction on October 1st, Also 6,000 Tonnes of crude...6,000 Tonnes is around 42,000 Barrels of oil...Someone has cracked the geology out there by the look of things..http://www.gogc.ge/uploads/other/1/1379.pdf5000t of light crude x 6 = 30,000 bbls (conversion rates are 6 to 8 depending upon the density, so I have used the lower rate). Assuming that the first train is from August and the next from September, then that equates to 1,000 bbls/d, which is the rate that Zaza said FRR would be producing by the end of the year.30,000 x $75/bbl (the rate we were paid previously) = $2.25m each month.https://en.wikipedia.org/wiki/Barrel_(unit)The oil from T39 is 41.5 API, which converted to specific gravity = 0.8179. The oil up for auction is 0.810 - 0.845.Copied from the link in bugsy-b's post :-Georgian Light:Density: 0.810-0.8450 gm/cm3 at 20 CoSulphur content: max 0.3%Water content: max 1%https://www.easycalculation.com/physics/classical-physics/specific-gravity-oil.phpThe route fits. The 1000 bbls/d fits. The density fits. Perhaps FRR have to sell via government auction so that they have all the figures of sales. Then they will know when all recovered costs have been met and taxes are due (out of their 51% cut).

[tickboo] 20/9/2018 12:18

If they couldn't pay in cash they would have had the shares converted! They could blame it on delayed oil payment or the like.

[tickboo] 20/9/2018 12:14

I believe two majors who have attended extensive site visits and management meetings may have something to do with zone 19 being tested and more time.

[wshak] 20/9/2018 11:59

FRR have a history of surprising the market with good news about flow rates after they've been delayed, don't they?

[loglorry1] 20/9/2018 11:51

@tickboo the email TW leaked said that YA had sent conversion notice to FRR and FRR had replied that it was being "processed". That's not inconsistent with FRR going on to say "nope - we don't authorise it".

I don't think there is a consistency problem here.

In any case you are all barking up the wrong tree. What matters here is that clearly FRR are not paying YA in cash and that's because the T wells have failed.

If I was an investor here I'd pop along to the meeting and I wouldn't leave until Zaza stated that the T wells were producing oil that was being sold to pay YA in cash. I'd also ask that that should be put in an RNS the next day. If he continues to blag it you know what your answer is.

[tickboo] 20/9/2018 11:44

I disagree. The two RNSs before today's state that the share conversion was not authorised and if Cairn knows that to be false they'd resign.

[loglorry1] 20/9/2018 11:24

I think Cairn would have resigned by now if FRR was in the wrong.
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You do know how bad it got at CTAG before Cairn walked don't you?

[loglorry1] 20/9/2018 11:14

Not sure about that. If TW is right, then surely Cairn’s position is untenable.
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The email said there were advisors CC'd in. Cairn might well have seen it. I don't think they would act. Anyway saying that the conversion notice is being "processed" isn't really saying you accept it. It could mean that it was going past FRRs legal team to check it was OK.

[thefozzer] 20/9/2018 10:59

Roger Wilco Loggy,

Come back in a few weeks and all will be revealed, all hot air for now.

That Twitter poster emailing the Geogian gov was a classic though.

Don't worry though I've tweeted Trump, stars and stripes to the rescue.

[bumpa33] 20/9/2018 10:56

Not sure about that. If TW is right, then surely Cairn’s position is untenable.

[loglorry1] 20/9/2018 10:54

More comedy gold from the bulls. Ops update, shareholder meetings, interims, YA are bad guys, TW is a bad guy, Loglorry is a bad guy, WShak is a bad guy, Zaza never loses in court,....


Who actually cares? What matters is sustained commercial flow rates from the T wells and the simple stated fact that YA are being paid with resulting oil revenues e.g. from the train cars we saw on Twitter ;-)

The rest won't make any difference at all. If TW is a bad guy, so what? Will that help equity holders here? If YA were naughty and a spat means that they can squabble over being paid, so what?

It all comes back to the same thing. FRR are unable to show that their assets are worth anything and are constantly asking for cash and kicking obligations down the road.

Will it come to a head soon? To be honest I'm not really sure. While the NOMAD is prepared to put up with them and private investors seem able to forgive just about anything and keep pouring money in I suspect it will go on.

[bumpa33] 20/9/2018 10:47

So what if Cairn walk?

Will that mean they’re in concert with TW?

Ffs wake up

[tickboo] 20/9/2018 10:36

We know we'll get H1 by the end of next week although they won't be pretty I'd hope for some decent Commentary. That said, historically they've released the i erik and the following week issued an ops update RNS. Perhaps they'll do that before 4th.

[wshak] 20/9/2018 10:33

Ah, the old "Zaza wouldn't meet unless he had something positive to report" logic.

I've missed that ...

[the skipper] 20/9/2018 10:25

The problem with TW is that his agenda is clear as is the fact that he and his disciples are clearly working in concert with YA, so why should anyone believe the lying, manipulative scumbag? Hopefully those who are so openly associated with him will go down with him, and I hope it's in a US penitentiary following extradition proceedings.