Frontera Share Discussion Threads

[thefozzer] 16/10/2018 15:12

I think you'll need a bit more than some cream also. :-(

[thefozzer] 16/10/2018 13:56

Seriously Shak, your past always has a habit of catching up with you. You know I'm a nice guy so when I say id get that seen to I mean it with respect.

Cheers.

[thefozzer] 16/10/2018 12:58

Tune,

Just checked him out on Twitter. What a scruffy man child lol.

Checked the other chap out too. I'd get that seen to Shak.

[thefozzer] 16/10/2018 12:48

Come on Shak, I thought you'd be giving it a better go than this. This price hasn't budged!!! I guess folks are now thinking differently of you now, you know, all things considered and all that.

Cheers

[tune player] 16/10/2018 12:07

WShak,

The not so artful dodger then

Hahahaha

[fulhamjohn] 16/10/2018 11:43

WShak
16 Oct '18 - 11:36 - 21546 of 21547

You misled the taxman but he caught you

[jayrh] 16/10/2018 11:40

Tax dodgers back giving advice. Lol you can't make it up...

[wshak] 16/10/2018 11:36

I am so sorry - it appears I have misled the board.

I missed the fact that FRR recently issued another $4m of SECURED loan notes as PIKs.

That means that the debt from these alone will be approx. $45m in a couple of years, not $40m as stated earlier.

That is assuming, of course, that FRR don't lose their assets once the temporary injunction is lifted.

Bulls needn't worry about debts to Outrider, however, or silly stuff like Notices of Default or title on acreage. They should just focus on super, duper majors and how Zaza came across.

That'll sort it ...

[fulhamjohn] 16/10/2018 11:26

easybrent
16 Oct '18 - 09:26 - 21519 of 21543

Sleazybrent if you don't mind we won't take your interpretation of the legal issues here too seriously. Your pal WShat has already disgraced himself on that front. No doubt if someone could be bothered checking into your background we'd find similar skeletons in your closet

FJ

[tune player] 16/10/2018 11:22

That’s the one but he must think he looks like that hahahaha

[tune player] 16/10/2018 11:21

That’s the one but he must think he looks like that hahahaha

[mick1909] 16/10/2018 11:19

Maybe using delaying tactics to sell the loads of oil to pay YA and outrider off together

[mick1909] 16/10/2018 11:18

Wheres the train load of oil coming from last 3 auctions have brought in if ours 10 million

[mick1909] 16/10/2018 11:15

Madpunter1,118 postsRE: A LoanWhy is FRR now producing more oil?Perhaps after an EWT on T39 to get the descriptive test results, FRR are now doing productivity testing at much higher rates by reducing the choke and opening the size of the bore. The descriptive testing will enable FRR and the two super majors to calculate reservoir size, decline curve, flow rates and permeability, both horizontal and vertical. Whereas the productivity testing requires transient pressure changes, through varying choke sizes and stopping and starting the flow, to check if there's an homogeneous formation or low permeability zones.https://pdfs.semanticscholar.org/b4d2/d236dcd461181b957acc499f9cb4722740e6.pdfAssuming that FRR has been increasing the flow rate from T39 by altering the choke (at full bore 8 x 529bopd = 4232bopd, except the equation is not linear due to other factors), then after the 1st October auction, we would expect another within a month. Zaza did state 4 - 6 weeks to fill a trainload and there's an auction on the 22nd October. This time the quantity has increased to 9,000t = 69,390bbls. I wonder why two majors are interested and Zaza is so confident about paying the bills?

[mick1909] 16/10/2018 11:15

Is he the fat kid with a beard and glasses or is he using ozzy osbourne son as a profile pictire?

[wshak] 16/10/2018 11:14

The Outrider debt pays out at 12% if paid in PIK, which they have been.

Within another 2 years, the debt will have grown to approximately $40m, given the quarterly compound interest that takes hold.

Maybe Zaza should have used credit cards instead?

[the skipper] 16/10/2018 11:08

The reviews are so bad it might have been closed down by the public health inspectors by now. You couldn't make it up!

[wshak] 16/10/2018 11:07

Just a reminder from the annual report - enjoy.


2020 Secured Unconvertible Notes Payable

On August 2, 2011, note holders exchanged $18.2 million of notes that originated in 2007 and 2008 into new notes issued under the 2016 Note Purchase Agreement due August 2016 (the “2016 Notes”). The 2016 Notes accrued interest at the rate of 10% per annum, matured five years from the date of issuance (August 1, 2016) and were convertible into Frontera Cayman Shares, at the option of the holder, at a conversion rate of $0.25 per share. During 2016 the Company elected to pay the quarterly interest payments in kind on the convertible notes and issued approximately $1.8 million, in additional convertible notes in accordance with the terms of the note purchase agreement.
In October 19, 2016, the Company and the holders of the largest outstanding group of the 2016 Notes, Outrider Master Fund, LP and Outrider Management, LLC (collectively “Outrider̶1;) agreed to exchange the 2016 Notes for new secured unconvertible notes maturing on August 1, 2020. On December 20, 2016, in accordance with this agreement, Frontera International Corporation, a wholly owned subsidiary, issued new secured unconvertible notes maturing on August 1, 2020 to Outrider. This was followed by the issuance of new notes on the same terms to other holders of
the 2016 Notes. As a result of this exchange, the note holders exchanged $30.1 million of principal in the original notes into new secured notes due August 2020. There was $1.5 million in associated interest expense recognized through the end of year 2016 on the 2020 Notes. The 2020 Notes are not convertible into ordinary shares of the Company and bear an interest rate of 10 percent if paid in cash or 12 percent if paid in-kind with additional notes at the Company’s election.
Following the issue of the 2020 Notes, the 2016 Notes were re-assigned to the Company and cancelled. During 2017, the Company elected quarterly interest payments in kind and issued approximately $4.0 million in additional unconvertible notes in accordance with the terms of the 2020 Notes.

[mick1909] 16/10/2018 11:06

Madpunter1,118 postsRE: A LoanWhy is FRR now producing more oil?Perhaps after an EWT on T39 to get the descriptive test results, FRR are now doing productivity testing at much higher rates by reducing the choke and opening the size of the bore. The descriptive testing will enable FRR and the two super majors to calculate reservoir size, decline curve, flow rates and permeability, both horizontal and vertical. Whereas the productivity testing requires transient pressure changes, through varying choke sizes and stopping and starting the flow, to check if there's an homogeneous formation or low permeability zones.https://pdfs.semanticscholar.org/b4d2/d236dcd461181b957acc499f9cb4722740e6.pdfAssuming that FRR has been increasing the flow rate from T39 by altering the choke (at full bore 8 x 529bopd = 4232bopd, except the equation is not linear due to other factors), then after the 1st October auction, we would expect another within a month. Zaza did state 4 - 6 weeks to fill a trainload and there's an auction on the 22nd October. This time the quantity has increased to 9,000t = 69,390bbls. I wonder why two majors are interested and Zaza is so confident about paying the bills?

[mick1909] 16/10/2018 11:05

We should be getting $5 mil from the last train of oil