Frontera Share Discussion Threads

[wshak] 12/10/2018 10:08

thefozzer,

These legal battles are all building up, aren't they?

YA, the Govt, and now Outrider.

FRR owe two of them lots of money (which they don't have) and one of them is the host country.

Yup, just the kind of situation that majors love to farm into - LOL!

Can you give an example of any oil company in the history of the stock market that has achieved a farm-in from a major in similar circumstances?

[loglorry1] 12/10/2018 10:06

5. A deal with A Super Major is imminent.
> Actually @fozzy the RNS today doesn't say that at all. They say

The Company previously announced that it had entered into Non-Disclosure and Data Exchange Agreements with two industry majors with a view to progressing possible transactions involving a farmout or joint operating agreement. Technical work and commercial discussions are ongoing with both industry majors and the Company continues its extended well tests to support data analysis for the two industry majors.

You are right that Zaza told you it was imminent at your meeting but as I've shown in 1-3 above he's lied to you.

Sorry Was - post edited to include "no flow rates".

[thefozzer] 12/10/2018 09:58

5. A deal with A Super Major is imminent. Speculate next month.

Fess up Loggy, who was it?

[wshak] 12/10/2018 09:56

Log,

You missed "no flow rates"

[loglorry1] 12/10/2018 09:47

So to summarise:

1. FRR the arbitration with GOGC (the host government) is proceeding contrary to what Zaza said at the meeting and is over the WHOLE PSC (contrary to what Zaza said).

2. The discussions with two "majors" not super-majors is continuing but its not at a stage where they are even discussing a transaction. Zaza said this started around June /July I think (although who knows). Again this contradicts what he said at the meeting.

3. It's not only YA that have now issued a default notice but Outrider have joined the list by the looks of it. They are owned $30m. Again Zaza failed to mention this to you all. One may say that was lying by omission.

4. Cash position is obviously dire and now they are fighting three legal battles. The lawyers fees must be enormous.

5. No flow rates disclosed.

[loser7] 12/10/2018 09:04

.43 is now being asked mate, when this spikes you know yourself, it
is not shy :-)

wait and see

[thefozzer] 12/10/2018 09:02

Well loser7,

It's just been confirmed via the RNS that a deal with 2 majors is still being discussed and I'm sure the deal will be concluded before December.

A 0.43p finish would be nice.

[loser7] 12/10/2018 08:55

it wouldn't surprise me if another RNS issued on Monday
to confirm the deal :-)

[thefozzer] 12/10/2018 08:49

Well said loser7.

I was at the meeting. The deal is on and it's imminent.

[loser7] 12/10/2018 08:47

fozzer-massive upside here, bit of patients needed

[thefozzer] 12/10/2018 08:46

Loser7,

You do have to feel for these shorters.

Twitter poster barging the ministry, huge assumptions being drawn and Ol Tommy and his emails.

Smacks of desperation.

Super Deal with Super Majors imminant...hopefully I might add.

[thefozzer] 12/10/2018 08:43

Loser7,

With a deal with two Super Majors potentially landing anytime soon you seem surprised.

[loser7] 12/10/2018 08:39

BLUE coming up

[thefozzer] 12/10/2018 08:25

To me the situation with Outrider is a case of tidying up loose ends before that RNS lands with the Super Majors

[thefozzer] 12/10/2018 08:21

Some big assumptions there WShak. I appreciate that with the super major deal being imminent that you have to cling to whatever hope you can.


Don't be so sure Outrider have called in the debt. That is not stated or implied. FRR have initiated the proceedings here and not Outrider.

[wshak] 12/10/2018 08:09

thefozzer,

You really don't have a clue how debt works, do you?

A Notice of Default (issued by YA in this case) would normally trigger terms in the notes of all senior debt (Loan Notes) which make them immediately repayable.

The Loan Notes are SECURED against FRR assets. Outrider obviously want their money back now so have decided to take a charge over whatever assets FRR has.

Incidentally, Nicandros and Zaza also own Loan Notes so they will benefit from the mad act of not paying YA in shares as required!

[thefozzer] 12/10/2018 08:04

Tickboo.

I see this as very good news and probably prompted by Big Oils lawyers. It's very possible that this is just a formality.

Obviously Loggy and WShak have to cling into any hope now a deal with the super majors looks imminant.

[thefozzer] 12/10/2018 08:01

Wshak,

Why do the assets end up in outsiders hands? The loan notes are not due till 2020?

This has all the haul marks of Big Oils lawyers getting their house in order before a deal is completed.

[wshak] 12/10/2018 07:58

Unless Zaza clears the debt to YA, FRR's assets will end up in Outrider's and, perversely, Zaza's hands. Zaza and Nicandros are also loan note holders.

Is that why he didn't just give YA the shares?

"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"

[tickboo] 12/10/2018 07:57

The only thing we didn't know if they're trying to stop the asset from underwriting the notes. Surely this isn't bad news.Talks with the majors are ongoing and we'll be updated on arbitration which will surely be about the basin edge play in due course. Pah.

[thefozzer] 12/10/2018 07:57

I guess given today's news you'll stop objecting to us calling him a liar now?
--------------------------------------

Are you calling Zaza a liar Loggy? If so please state what Zaza has lied about.

[thefozzer] 12/10/2018 07:55

Interesting spin you put on things Loggy.

I have to pull you up though as the RNS does suggest that FRR have initiated the proceedings with Outrider. I suggest that FRR does not want the outrider debt secured against the asset before a deal goes through. Perhaps Mr.Hope is complicit in this as the court granted the injunction immediately.

Speculation from me.

[wshak] 12/10/2018 07:55

Log,

The investors' meeting looks increasingly ridiculous, IMHO.

[wshak] 12/10/2018 07:52

thefozzer,

If you see this is as good news, I can't help you.