Frontera Share Discussion Threads

[thefozzer] 12/10/2018 15:24

I doubt outrider would want a lengthy legal battle that could take years to resolve, same goes for FRR. I think this will get resolved very quickly.

Whatever, the RNS does suggest full steam ahead with the super majors.

[thefozzer] 12/10/2018 15:20

I think YA will be resolved soon. I'm unsure what the rub is with Outrider as unfortunately the RNS didn't provided detail.

Do you think these are show stoppers Loggy? I don't and neither does the market.

[loglorry1] 12/10/2018 15:20

If Outrider have triggered a clause if their contract due to YA strange activities do you think a judge would back Outrider over FRR
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It's normal to have a cross default clause in a debt especially if a company defaults on more junior debt. E.g. YA's convertible loan. Go and google it - its standard stuff. The loan notes are senior secured so will contain a lot of covenants and clauses restricting what FRR can do.

It's normally the case that once triggered the full amount plus interest becomes payable.

I've no idea if Outrider can even collect because FRR are skint but they may now have the legal right to do so and they wouldn't just waive that.

The court will always give both sides time to argue the case before ruling so I assume that's what has happened here. FRR now have time to sort it out with Outrider but probably not long.

It's not really a case of a judge backing one party or the other. It's all very procedural and matter of fact. Once certain conditions exist then certain other things happen.

You can remain in denial all you like but it makes no difference once the court rules.

[loglorry1] 12/10/2018 15:16

LOL yep @fozzy let's just hope for your sake the majors (super or otherwise) don't just do a deal with Outrider and the other loan note holders who by the way include your pal Zaza and Nicandros.

No idea if that will happen but getting jilted by someone you've fallen in love with who runs off with another suitor will sting a bit.

[thefozzer] 12/10/2018 15:14

Loggy, you really think Outrider would win against FRR? The best they got last time was a draw.

I'm no lawyer but the agreement is that Outrider get paid back in Aug 2020. If Outrider have triggered a clause if their contract due to YA strange activities do you think a judge would back Outrider over FRR?

They didn't back Outrider before.

[thefozzer] 12/10/2018 15:10

I know there's plenty on the short side that would love this company to close shop so they could profit from this but with two Super Majors about to do a deal it ain't happening chaps.

[loglorry1] 12/10/2018 15:10

I would say Loggy, going off the share price the market is giving Zaza the benefit of the doubt.
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I'd agree with you there.

I'm not sure if/when the RNS lands that the court has ruled in Outriders favour and has lifted the injunction allowing Outrider to take control of Frontera's assets it will be so well received.

I remember when PCI (Petroceltic) basically said they were getting squashed by debt holders and the equity was worthless mugs still bought the shares. Some people just don't seem to have the capacity to learn.

[thefozzer] 12/10/2018 14:56

I would say Loggy, going off the share price the market is giving Zaza the benefit of the doubt. Despite this I'm sure the bears have scared a few into selling so I hope you're happy with yourselves.

[thefozzer] 12/10/2018 14:51

Were you ever a spin doctor for new Labor Loggy?

1) where does it say the request for arbitration is for the whole of B12? Even your mate TW stated is wasn't for the whole of B12.

2) Why Zaza hasn't stated Super Majors in the RNS I don't know. So your point is he said Super Majors in the share holder meeting and Majors in the RNS? Sorry old boy but really is this lying? Lol.

3) it sounds like the issue with Ourider has just arisen so how has Zaza lied if this has just arisen???

4) cash position is dire, does anyone think otherwise? That said Zaza has decided to haul YA to task, why take such an action unless you're very confident of a successful outcome?

5) Flow rates, still testing the wells. The well have yet to be put into sustained production.

Sorry but if that's the best you have then you're in big trouble when that Super Major RNS lands.

[loglorry1] 12/10/2018 14:39

This all looks fact based, not fluffy or containing spin to me... Here it is again for those in Love...

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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.

[thefozzer] 12/10/2018 14:24

No Loggy, your previous posts were very fluffy with plenty of spin.

I wonder who else the authorities may be watching.

[tune player] 12/10/2018 14:23

These ladies are putting some seriou effort into trying to destroy the Company with this smear campaign.

I hope they know what they’re doing!!

[loglorry1] 12/10/2018 14:20

Actually Loggy, nowhere does it state that Outrider has called early time on its loan notes. This is material info and that's not what the RNS states. I'm not saying this isn't the case though.
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I agree as I said it's a rational assumption. I'm sure the NOMAD and/or the FCA will force clarification on this point as they seem to be watching Zaza pretty closely now.

[loglorry1] 12/10/2018 14:16

@fozzy I have see my post #21151

[thefozzer] 12/10/2018 14:05

Loggy,

You keep saying Zaza is a liar, can you provide evidence?

I was at the meeting, he did duck some questions, he went round the houses on others but he was telling the truth about the super majors.

You're taking a massive gamble with your short, I think we're very very close now. Weeks away.

[thefozzer] 12/10/2018 14:02

Actually Loggy, nowhere does it state that Outrider has called early time on its loan notes. This is material info and that's not what the RNS states. I'm not saying this isn't the case though.


Come on fess up, Just between me and you, you really think proceedings with Outrider or YA are show stoppers?

Can you feel that deal is close? Lots jostling here.

All I can say is that the market doesn't buy the spin the short players are selling.

We're getting closer, nervous?

[loglorry1] 12/10/2018 13:58

@jme why is there any doubt he's a liar. The RNS today contradicts much of what he said in this shareholder meeting.

[jme1066] 12/10/2018 13:57

TheFozzer
That’s what I keep suggesting to them, either Zaza is a liar a madman or telling the truth.

[loglorry1] 12/10/2018 13:55

@fozzy why else did Frontera seek an injunction?

here's the legal definition of injunction

a judicial order restraining a person from beginning or continuing an action threatening or invading the legal right of another

It seems completely rational that the injunction was to stop Outrider taking the assets which underpin their secured loan notes. These assets are, amongst others, of course Block 12.

I'd hate to see you lose a lot of money based on pig headedness. I think you are better than that although I think it's in the post unless you change your opinion.

[thefozzer] 12/10/2018 13:40

It's rational to assume Outrider tried to seize the block 12 (and other) assets from Frontera and Frontera had to try to stop them with an injunction
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That's some rationale Loggy. Big leap of faith from the bears.

10/10 for effort this morning, This is coming to a conclusion very soon. Like I said unless Zaza is an actor of the calibre of Harris, Burton and Cain a deal with two Super Majors is imminant.

[thefozzer] 12/10/2018 13:31

He's a reporter.
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Judas priest Loggy, what world do you live in?

[loglorry1] 12/10/2018 13:17

@fozzy I assume you are talking about TW? He's a reporter. Getting a scoop from a whistleblower for example is what they do.

The bulls seem to jump up and down and cry foul play when bearish news breaks but if it's bullish they think its great.

I wonder how much @fozzy would object if TW leaked a story that Exxon were about to sign a big deal with Fronterra that he'd received in an email?

Oh and I'd agree the shareprice fall doesn't in any way represent the jeopardy the bulls find themselves in. I think by and large that is because they don't understand what's going on.

It's rational to assume Outrider tried to seize the block 12 (and other) assets from Frontera and Frontera had to try to stop them with an injunction. If the injunction is lifted presumably when the court sees Outriders argument then its all over for the equity.

I accept that might not be totally transparent to a layman from reading the RNS. All I can say is that if you hold a lot of equity then seek good legal and investment advice on its meaning.

[tune player] 12/10/2018 13:04

Yes Fozzer those emails are intriguing....
Well they would be if we got to see them.

[tune player] 12/10/2018 13:03

Again I agree Fozzer, the end game is in the final quarter imo.

They had a concerted effort this am and that RNS if Zaza isn’t the huge conman the shorters portray him as is closing this and them down now.

They have been warned.