Frontera Share Discussion Threads

[wshak] 18/10/2018 11:48

thefozzer,

I'm also an expert on capital hierarchy in debt restructuring, and what happens when a debtor can't pay.

You obviously haven't got a clue, but it'd be helpful if you didn't state stuff which simply isn't true, and provable via RNS links. We can reach some common ground then.

[mick1909] 18/10/2018 11:00

LordLash1,840 postsThoughts on a dealI'm not experienced in business or o&g shares that have gone through a deal like Frontera might, so only approach this from a common sense point of view. What I find odd is that if the major was still negotiating a deal with Frontera would they be so open as to tell Frontera they can save on opex by $300m and increase profits $1bn+ (both from memory) before the deal was signed off and official. Wouldn't that play into Frontera's hands during negotiations. There would have to be a good reason for major to do this, surely. Could it be that because the 2 majors are in competition the one that is more advanced is putting a convincing case forwards as to why they should be our partner, even if that means showing more of their hand? Or could it be the deal is penned but final sign off is awaiting closing off of side issues, such as YA, Outrider, arbitration?

[thefozzer] 18/10/2018 10:49

WShak,

With respect you may be an expect in YA and their MO but you clearly don't know much about Outrider and Mr Hope.

[loglorry1] 18/10/2018 10:40

The current loan notes are in a subsidiary company how is that against frr's assets??
----
Doh! The assets are in the sub-co too.

[mick1909] 18/10/2018 10:38

The current loan notes are in a subsidiary company how is that against frr's assets??You can not pass comment as you dont know when to pay taxes or you do and are a tax evader with the money you tried to dodge could have spent on the nhs

[loglorry1] 18/10/2018 10:37

They defeated Outrider so badly they had to give Outrider a place on the board!!!!

Oh come on @fozzy.

BTW Senior SECURED means if they default the loan is secured by the assets. They don't even need liquidation etc they are first inline. It's similar to a mortgage if you don't pay they get title on your house to recover the principal.

[tickboo] 18/10/2018 10:21

They settled out of court as Outrider shared confidential information with third parties and were seemingly trying to have the assets taken over by said party. This tells me the assets are worth taking and breaking agreements for. Court docs were uploaded so it's there for all to see. No doubt it was lucky this came to FRR's attention as they didn't have the money to pay.

[wshak] 18/10/2018 10:17

thefozzer,

You are digging a hole for yourself, please stop!

"Due to Outriders unscrupulous actions an out of court settlement was agreed."

Where does anyone say that Outrider's actions were unscrupulous in 2016? That's simply another lie.

Have you ever been owed money by a company that can't afford to pay you?

FRR tried to wriggle out of their commitment but were completely and utterly humiliated by Outrider, being forced to grant a firm security over their Georgian assets in return for an extension of maturity on their debt.

You are out of your depth here, I'm afraid.

[thefozzer] 18/10/2018 09:45

Mick,

FRR owe Outrider $30m+ due in 2020. If FRR don't or can't pay then Outrider could pursue FRR through the courts to reclaim the debt owed. That could in theory result in FRR being liquidated in order for Outrider to strip FRR's assets and reclaim their money back
Outriders debt would get priority over equity holders.

Whatever Mr Hope has been up to it's not for the good of us. Fortunately, Steve and Zaza are now aligned with us through their massive equity exposure.

[mick1909] 18/10/2018 09:19

The New Notes are issued by Frontera International Corporation, a fully-owned subsidiary of the Company, and bear interest rate of 10 per cent.  if paid in cash or 12 per cent. if paid in-kind with additional notes at the Company's election.  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 and an effective date of 1 August 2016.  Other than the terms described above, the terms of the New Notes remain materially unchanged as previously announced. In furtherance of the restructuring, all previously announced legal proceedings related to the Old Notes will now be dismissed.How are they based on frr's assests?

[mick1909] 18/10/2018 09:09

Outrider tried underhand tactics of a hostile takeover and wasnt successful so yes frr was successful in keeping the company

[thefozzer] 18/10/2018 09:05

Why am I lying WShak?

The CLN were due 2016, no if's or buts Outrider should have been paid, full stop. Due to Outriders unscrupulous actions an out of court settlement was agreed. From the recent RNS it sounds like Outrider have "been at it again".

It's down to the legal bods to sort out now. Do I think Outrider is a show stopper? No I don't but out of the GOGC, YA and Outrider I see Mr Hope as the greatest threat.

[wshak] 18/10/2018 08:58

thefozzer,

Why do you insist on lying about what happened with Outrider previously? You must be aware that what happened was related to the market via RNS so you look incredibly daft by saying they failed. The complete opposite is true as they gained security over all of FRR's assets!

FRR chest beating here:



FRR humiliation here:



If you are going to insist on lying, at least make it about stuff that can't be disproved!

[tune player] 18/10/2018 08:33

There’ll be over at UKOG at the moment because there’ve just be torched over there....

Just the start

Hahahaha

[thefozzer] 18/10/2018 08:30

WShak dear boy,

I think you have become far too emotionally attached to this share and it's causing you to have an irrational imbalanced perspective of this share.

Very shortly all we be revealed with the Super Majors where a deal will be announced. That's unless Outrider derails everything. Outrider tried something similar back in 2015 and failed and I suspect they'll fail again.

[mick1909] 18/10/2018 06:26

regdik1,164 postsHow long - part twoNow Georgia are welcome guests in Washington and there is and acceptance that they may have more than dirt beneath their feet. Delegations met in both Georgia and Washington both political and big business. FRR have friends in high places and great contacts in O&G industry and the time was right to share their latest testing results and invite majors to come, see, feel and participate in upgrading the CPR. I understand that this has been going on for over a year. The majors have technical folks in Georgia and they have suggested additional tests and methods. FRR had to invest in similar expertise to ensure that they to fully understood what was required and how best use the data to formulate a plan to conduct a sensible commercial discussion (O&G are hard negotiators). This probably prompted the GG to look at arbitration as it is/was going very slowly and the $$$ that they would see in investment and eventual share of the product slipping. So why no deal to date I assume is around how do you value the asset in the ground the cost of extraction as the amount they seem to have increased as more data is produced. The more we have the more the majors will want in and the more they will seek a JV/FO arrangement. So ZaZa has two aces in his hand and is playing poker with all comers. YA and Outrider have been caught cheating and may be thrown out of the game. Lets hope its a winning hand and not a busted flush, So how long – as long as it takes.

[mick1909] 18/10/2018 06:26

regdik1,164 postsHow long - part oneThe next instalment in my how series Lots of speculation of when will a deal will be struck. First you got to understand that majors have been looking at Georgia for a long time due to the similar topography to Azerbaijan. Russia tried and had initial success extracting oil but the pressure, mud issue and lack of good transportation (access to market) slowly drained interest as the wells silted up and the flows became a dribble. Gas actually was an issue as it caused complications no local market and hindered oil extraction. If the Russians had todays drilling and separation technologies then Georgia will still be a Russian state (or run by the Oligarchs).Independence and a gradual move o the West and NATO has given the majors greater confidence to look to invest in the country. Some will say that BP are in Georgia and have invested billions in the country but that has mainly been on a pipeline that traverses across the country to take other Nations product to Market. Then about 3 years ago a man with a yellow tie stood up at a meeting with a CPR and said we have found what would be the fifth biggest gas field in the world oh and a few billion barrels of oil too. AC said well done and the minister from Azerbaijan looked shocked. Georgia Energy minister rubbished the claim whilst signing a hydro energy project that he had a personal interest. The POO fell to all time low and the majors cancelled many new development projects. FRR had to turn to fund by BoD loans and then the dreaded YA. At the time we thought SN had shares in YA. Dilution followed and followed as FRR fought to keep the lights on and creditors from taking the asset for next to nothing (sounds current). The majors did get copies of the CPR back then but the pesky Russians decided to annex a big chunk of Ukraine and political volatility came to the fore (majors are risk averse around politically stability issues)

[mick1909] 18/10/2018 06:26

Also having your blinkers on and being tunnel visioned always looking at the past it also helps to see whats happening in the present

[mick1909] 18/10/2018 06:25

Your arrogance regarding this share will be your downfall

[wshak] 17/10/2018 23:00

You don't need to be English to march with the EDL, FulhamJohn - you know that.You just need a hearty, bigoted attitude and a hatred for people of a different background, like "my type".I can give you a reference, if you like? As so many of the far right seem to congregate around "pump and dump" stocks, it seems like the least I can do is make some introductions.Despite being totally honest with you about selling you worthless shares - unlike FRR - I can't help but think I'm taking advantage when we make the exchange of cash for paper.

[satanslave] 17/10/2018 22:32

where's my pet maggit?
I want the hard skin nibbling off the soles of my feet. .
MAGGIT. .WHERE ARE YIS?

[fulhamjohn] 17/10/2018 21:52

WShak
17 Oct '18 - 11:55 - 21643 of 21680

WShat I'm not English so why would I join the EDL?

You didn't answer my question before - did you fire your dodgy accountant?