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Thanks Looed
At least it sounds as if we’ll get a result to this court case fairly quickly. It would be better if we knew that a positive outcome would then lead to genuine news for shareholders. Surely they are not intending to keep us all waiting for yet another year…
Very interesting angle
Did we get any more insight in to the global legal settlement that was signed between Frontera et al and Hope et al? Why? Well, it would be nice to know how FRC were going to repay the OMF debt because that would be underlying premises for the two opposing parties to agree.
When I compare the money owed on the CLNs against the YA case, I see the YA case as a relatively side issue.
At LSC, at the same time, when I start thinking about it, if the Hope and FRC legal dispute was settled via this global agreement, then the big remaining case (FIC, NYC Joint Receivership) would have closed by now.
Thanks in advance to any one providing some clarity.
It's currently on the docket for 1 day. Hard to say if the judge will decide on the day or take it under advisement. In the past YA motions have been decided on the day or not long after.
Looed
Do we know for how long the YA trial is scheduled to take place?
Thanks
Thanks for the continued updates Looed, heres to the one update from you that truly puts smiles on our faces 🙏
GLA real holders
FRC have filed their witness list which includes SN and the FRC attorney at Stratton Law Firm. So far, no other filings or responses to YA's latest data drop.
Great to see you as well Prod. I agrre we can still keep dreaming. I wonder if Looney going from Bp will have any effect? If Bp refocus on what they are best at which is O&G they might re look at us!!!! Pipe dreams maybe but a possibilty. Remember other big O&G are not really inteterested in be an "Energy Company" and if my memoary is correct Bp have all our data.
We really should get that "band of brothers" back together happy times and a few hangovers! Onwards and upwards to all.
I hope so Greyhorse.
Could do with a quarterly update from the company via Looed or Jim? Sorry memory gone blank
Mapp
One for you , sung to the tune of Harry Belafonte’s Jamaica Farewell !
My heart was down , my head was turning around as I had too leave my 10 million shares in de-listed town !
But I’m glad to say , I’m on my way , FRR will be back one day !
Nearer to the end - Stay strong Fronterians
All the best Grayhorse
You absolute legend me ol China plate. Great to catch up in the city for a couple of beers and some networking - and of course the customary frontera pipe dream discussion.
One day soon Dulwich, we’ll all be millionaires.
Until next time my friend. Slange Var
A best seller in the making and not published before she/he has gone?
Handwritten and unique. IHT exempt ?
I am banned any time and you may guess why?
"Sloop John B ". one more for tonight. RR has gone into hiding on a farm in Georgia?
ZAZA may own a few places available for special friends. Farming is good for some of
us getting away from AIM which is a casino for fat cats catching mugs.
A return of FRR is worth a celebration with a trip to Georgia.
Dulwichman: very interesting potential consequence; thanks for sharing your muses.
I hope you are keeping well.
Coggy, my best poems in memory are not on this board. Today is special.
Our Ukulele group is alive again. Shall wear my favourite top in bright colours
and sing "Jamaican Farewell". You tube. Harry Belafonte. Our choir of cheerful
Golden Oldies has a few more years left but I have signed the correct form to
leave in peace and not end up in a Nursing Home run by Hedge Fund Managers
and looked after by robots .
Lots of filings and re-filings by YA . Nothing much new that I can see other than they lay out the exhibits they will be relying on at the upcoming hearing, all of which must be included within the reams of filings already made by YA.
Let’s see if or how the company respond before the hearing in early October.
Lady mapp. When you pop your clogs, I'll trawl back through all your posts and pick out your best poems. Then I'll have them published. It's bound to be my second best seller.
In agreeing that the world is very messy. There is a glimmer of hope as a result of the G20. In general this is just a talking shop at the best of times, but the adsence of both china and russia makes the headlines even more so. However what comes out from the sub meetings may have some importance. It seems clear to me that there is a POSSIBILTY that pressure in greater strengh may fall on India to halt it being used as transit point for O&G to China. (I doubt in india will stop using russian O&G for its own use it is just too cheap from them ) This can only take place if Uncle sam turns the screws but this is difficult as india is trying to face in both directions at once. However if this is sucessful there is no reason why georgin O&G will get presure even internally to push ahead with development - This may even suit many of the pro russian aspect fora t the end of the day the right people will want to mainatin/gain powere and for that you need dosh.
If the above is both right and achievable this bodes well for us. perhpas not to the higher returns we may want as this will need production that even with a following wind will take time but more likely for a buy out.
This of course is pie in the sky but may be about right as a direction of travel taking into considderation other geo political pressures. Of course the reality may push it all just downhill into oblivion but this is the kind of thoughts both diplomats and politicians think. They certainly do not get it right a lot of the time - just look at the failure to get bids for off shore wind farms of our coast. you Governments you can not make Companies spend their hard earned if they do not want to, and certainly this has set back net zero in the UK BIG TIME. Egg on faces all the way around to all the political groupings on that one and there will have to be a serious rethink on this won as there is certainly plenty of spare cash to invest lying around.
Just my muse
Last message from RR was on the 2nd May 2023. He was once the most enthusiastic
investor on this board and and so obsessed with ZAZA that I wonder whether he was a paid
influencer and blinded by his master as so many of you were . You attended meetings and
were friends. Outsider Mapp has become the most tortured Private Investor since I was caught
on this board and I hope that my 7000 comments will not be wasted. Take care. Mapp.
I'd be over the moon to see it relisted under more honest management. After that what happens is just a bonus ++.
Any holder who wants to see Frr going into production for medium- long term would I think would need to have a medical check.
If at all possible I am sure a very high % want to see Frr offloaded by no later then end of 2024.
Enjoy
We all know Russia has had its influence in Georgia and this has also held us back and in my opinion the offers of a JV
or buyout.
Just when that looks likely to be less of influence, due to unpopular Ukraine war, we get Azerbaijan and Armenia playing up. I suspect this is linked to Russia in the back ground.
This could be a nothing issue or have widespread regional instability.
I would like to see FRR done and dusted and money in my account as this world is seriously messed up.
Those were the days when we was a true believer or near on one.
On Frr actually being offloaded & they got what Frr have stated they have invested into Georgia ($500M) then that would be something all holders would celebrate.
Except for SN & maybe few bod.
Enjoy
Hi, I check in here a couple of times a week as a holder since 2016. I was just uploading my old drive to my new computer, and came across a few posts, that I had saved from back then. Kickmuck, mad Mole, Regik and a few others. Would be great for all us long term holders if some of these came to fruition. Mad p "s is still my favourite.
Madpunter valuation
FinnFCR - I agree. You might like my previous valuation :-
18kMMbbls oil and 202TCF (at the same recoverable rates as the figures in the CPR = 2.9kMMbbls and 140TCF) . If this is converted to oil equivalent (1TCF = 170MMbbls oil) = 2.9 + 26.7 = 29.6kMMbbls. With an oil price of $75/bbl = $2002.5bn.
Typical takeover amounts for O + G companies are 1 - 3%. As the numbers are so huge, it would have to be a consortium (we have two majors interested remember) and the 1% would likely be the top limit. Therefore, with 1% = $20bn, which equates to a share price of 98p. If a JV/farmout, then I would look at 0.1% = $2bn, which equates to 9.8p. If FRR were to go into field production alone borrowing the money, then £500m market cap. is achievable + $440m recoverable expenditure is roughly $1bn. Hence, why IMHO $2bn is the figure for a JV/farmout.
IMHO a figure somewhere in the middle of the range is most likely for a buyout of Block 12. Therefore, halfway between $2bn and $20bn is $11bn, which equates to a share price of 53.5p ($11bn = £8.44bn @ current rate of $1 = £0.7675).
Remember, I have used a very conservative value of just over 0.5% of the value of the recoverable hydrocarbons. When takeovers are considered, factors that give higher valuations are low costs per barrel; infrastructure in place; market in place; proven resources and fields already in production. BP recently bought 4.6kMMbbls for $10.5bn and FRR has almost 6.5 times as much. The costs for the BP acquisition are well under $50/bbl, whereas for FRR it is under $12/bbl. There are pipelines running through Block 12, with the nearest to Tarabani only 18km away. There's a ready market in place connected to the pipelines. Production apart from the very low zone 9, is only just starting for FRR. Tthe resources are being proven by the current EWT's, plus the seismics and the proven geology of the Kura Basin and Maykop formation. Therefore, IMHO taking everything into consideration, half a percent of the recoverable value is very conservative and not utter tosh.
I am assuming the resource of 4.6kMMbbls of oil BP bought is the amount recoverable, as I haven't found a breakdown for the resource.
FRR has 6.5 times as much recoverable hydrocarbons and 4 times as much profit per barrel, which equates to 26 times as much profit. BP's acquisition is already flowing at 190kbbls/d and is a proven resource. IMHO $11bn for 26 times as much profit, than a resource for $10.5bn with the field already developed, is a good deal.