Frontera Share Discussion Threads

[thefozzer] 07/10/2018 20:24

My slice target is 0.80-1p. It's just moved to firm 1p. I think the share will need massive churn to get to 1p and I think a super major RNS will initiate that churn.

If the Super Major is Exxon Loggy, I promise not to rub your face in it. I'm a man of my word so I'll go back to ii at 1p.

[thefozzer] 07/10/2018 20:14

Loggy,

I'm not sure where to start with you.

I have told you my thoughts based on the shareholder meeting and joining the dots.

I say again...

I speculate, i.e. these are not proven facts.

1) The T wells have not been put into production, if they had then YA would have been paid off with oil revs. The wells are been tested and poked around and fiddled with. The majors are doing their due diligence on the wells and reservoir dynamics.

2) Cash is tight, very tight. FRR believe YA have done something irregular and are now investigating. If the situation gets resolved it would not surprise me if YA get one or two share payments but then again it wouldn't surprise me if they didn't.

3) Niko is in pending status due to the Super Majors moving onto commercial discussions. Niko will probably form part of a deal with the super major.

4) A deal with a super major will be announced within the next few weeks or months. FRR will be free carried on oil and gas drilling in 2019 due to this deal whether JV or FO.

5) The share price will spike up on "that" RNS.

What more can I say? The above are my honest thoughts.

[loglorry1] 07/10/2018 19:32

First the share's are traded on the London stock exchange thus subject to all EU regulations.
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Of course, and if the FCA or AIM regulations want to go after YA for breaking regulations, assuming they did, then that's a different matter. I don't see why it's got anything to do with FRR. The trading of shares in the secondary market are not regulated by the company that issues them.

This is why Zaza's comments about tracking down extra shares are so silly. He's just aving a laugh.

Re predudice. As if a lawyer would present your BB comments on Advfn as evidence to support an argument.

I'm not at all worried but I'm finding you absolutely hilarious. Please keep posting.

[fulhamjohn] 07/10/2018 19:22

logboy you are sounding increasingly desperate.

[graham84] 07/10/2018 19:11

loggy you sound like a very worried man. First the share's are traded on the London stock exchange thus subject to all EU regulations. Prejudice of proceeding can mean posts on boards such as this one entered into documents put before a court showing a course of action to prejudice the reputation of a party to proceedings. I suggest you read up on it before you make silly statements.

[loglorry1] 07/10/2018 18:58

I would not want to prejudice any future proceedings
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PMSL how on earth can commenting in a BB prejudice any future proceedings? You do know you are not one of the parties involved? Did you read that phrase somewhere and think repeating it might make you sound clever?

[loglorry1] 07/10/2018 18:52

@graham neither FRR nor YA are EU companies and I very much doubt the law governing their contract is govered by an EU member state either.

Regardless if YA broke a UK regulation on short selling why would that be in breach of a contract with FRR? A contract set up to implement a commonly known death spiral finance which each party knows involves selling on late settlement terms!

FRR have not even said that's the reason for not paying YA mind you.

Further there's absolutely no evidence been given, other than Zaza talking in an unregulated gathering, that YA broke any short selling rules which might have led to breach of contract.

It exposes how much private investors know when Zaza claims he became aware that extra shares existed which were not authorized.

It simply doesn't work like that. YA could have sold shares with late settlement but they simply can't settle these positions without owning shares at the point of settlement. That doesn't mean there are extra shares out there. The situation where settlement failed may have happened because FRR refused to issue stock as per their conversation request of course.

If anything that just means YA have a further claim against FRR for suffering loss by not issuing stock (or paying cash) as per their agreement announced 9th June.

I'm pretty sure we'll see FRR issue a load of share to YA soon and back down. It's the only way out for both parties.

[graham84] 07/10/2018 18:00

loggy may I suggest you google eu regulations on short selling and read them. I am sure frr legal team are fully aware of the regulations, otherwise they would not have taken action. This case is now in their hands ( it is not my place to comment further I would not want to prejudice any future proceedings) and will be interesting to see how it plays out. It may possibly have implications for other small companies especially if it gets to court in the form of case law.

[loglorry1] 07/10/2018 16:38

@graham84 what on earth are you on about? Of course YA sell the shares that FRR issue them. I'm sure sometimes they sell with forward settlement dates. So what? I expect FRR are very glad they can so that Zaza can fund the company.

Are you in some way suggesting that this would put YA in breach of contract? Why on earth would YA offer FRR a contract where they were not able to sell shares with late settlement (for example) before conversion.

You need to wake up. Since June 30th FRR have not paid their lenders in either cash or shares and their lender has issued a notice of default. This is serious stuff. They are not going away. All this talk of oil majors is pure speculation.

[graham84] 07/10/2018 16:29

Hi Fozzer

I think posters may be missing a very important point re YA. That is if it can be demonstrated that they engaged in short selling to obtain more ordinary shares than they were otherwise entitled and this practice was also taking place last year during the previous batch of conversions. Then at only say a 10% benefit to YA(and it may have been far more) this would mean that frr would be due to a refund of most or all of the remaining debt if you add on interest etc. So not frr spinning plates whilst they finish up a deal with a super major. Indeed just the wiff of a super major would give them access to normal commercial lines of credit if they were to actually need it.

[loglorry1] 07/10/2018 15:54

@fozzy try and keep focused. Zaza has lied to you it's in black and white. He said he was paying YA in cash (with the option of shares) back in June 7th RNS.


The Company and YA have now agreed that the redemption of the remaining 2,891 Series A shares will take place over 12-month period, on a monthly basis, for which the Company will be making cash redemption payments to YA of US$265,000 per month.


The interim showed that as of end of June Frontera owed them $2.65m (representing 2650 prefs) they have just been served a default notice by YA for $2.65m. He hasn't paid them a bean since June 30th in either shares or cash.

It looks like one payment was made of $241K I assume in cash between 7th June and end of June and then nada/zich/zero. It's now October he's missed July, August and September payments and has another one due in just over 3 weeks time.

He stood up in front of you and said he had enough cash to get you through to the golden period but he's not been paying his debts and his main funding source has served a default notice on him.

Do you think that Frontera's debt obligations are optional? Do you think Zaza thinks that? Why is he telling you lies at an unregulated shareholder meeting with no NOMAD present do you think?

He was willing to focus almost entirely on the news of a potential JV at his shareholder meeting yet not one word of it at the half year stage especially in the post period report.

He stood up bare faced and said there was enough funding to see them through 2018 and beyond yet in the regulated interim report it says that they need to raise funds for 2018 operations. Another lie?

He stood up and said to you that he thinks FRR have a very strong case against YA but gives no details. Despite that it's in black and white he's not been paying them. On what planet do you think financiers like YA will just accept non payment for 3 months? Do you think repayment was an optional part of the agreement?

Why @fozzy are you so bad at spotting lies. I can see them left right and center. There's many more but surely given his track record this is enough for anyone sane to run a mile.

[ccr1958] 07/10/2018 15:19

More for the filter box ,more interested in Grinder that FRR ... Bye !

[tune player] 07/10/2018 15:08

The shorts are praying...that is all they have.

They are in denial

[mick1909] 07/10/2018 15:04

I think shorts are burrying there heads in the sand judging frr on past history and how much money its made them theyll soon get rodgered

[thefozzer] 07/10/2018 15:01

Hey Loggy,

If you're basing your short on what's happening with YA then you're in for a big shock.

Read between the lines.

I'm very comfortable with my long position.

[tune player] 07/10/2018 14:17

Stephen bantamboy stan, your bi polar aren’t ya? You think you’re all your names at all once don’t ya?

[loglorry1] 07/10/2018 13:53

@fozzy I've shown you why Zaza is a liar. He's said he's able and willing to pay YA in cash or shares. Yet since 30/6 he's done neither. FRR accounts show they owed $2.65m end of June and they've not paid and have been put in default for the full amount.

These are facts. He's lying.

None of what you write is a fact it's just speculation.

[thefozzer] 07/10/2018 11:18

Loggy,

Do you remember what Encore got bought out for? Was it around 220 million pounds for 30m barrels of offshore oil?

Cheers

[thefozzer] 07/10/2018 11:12

Loggy,

I have been very clear on my thoughts about the meeting and cash flow position.

So I'll say again and these are just my own thoughts and not to be taken as fact.

1) I do not believe the T wells have bee put into production phase as they are being continually tested and poked at. These T wells will form the basis of the commercial terms with the super major. Therefore cash flows are limited.

2) I think YA may have broke the terms and conditions of their agreement with FRR, I think FRR is taking advantage of this situation by suspending payments.

3) As you say, from the accounts cash is very tight and without the constant production from the T wells cash flow is limited.

4) I think Zaza is hedging on getting a deal done with the super major within the next few weeks or months. In the meantime, I suspect the situation with YA will be resolved. It would not surprise me if YA gets a couple more payments in shares but then again it would not surprise me if they don't.

5) I think the deal with the supermajor will be to pay for all drilling costs in 2019 with a rev percentage split worked out. I think if the drilling in 2019 goes well then look forward to a possible take-over in 2020.

Just to note, it's worth keeping an ear out for Schlumbergers gas drill in Georgia as this could have profound implications for the region and the small cap operator Block Energy operating next door. I may even have a punt on Block.

Share price on "that" Super Major RNS? Has to be a massive spike up Loggy.

[thefozzer] 07/10/2018 10:53

Stephen,

Come on pal. I know they didn't allow gays in the military when you were a lad but less of the homo bashing. Power to the rainbow army I say!!!