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Share Views: HUM CEO updates on Yanfolila and Dugbe Gold Projects. Watch here

Share Views Ep. 19
HUM CEO updates on Yanfolila and Dugbe Gold Projects.


Frontera Res Share Chat (FRR)



Share Price: 0.0875Bid: 0.085Ask: 0.09Change: -0.0025 (-2.78%)Faller - Frontera Res
Spread: 0.005Spread as %: 5.88%Open: 0.09High: 0.09Low: 0.0875Yesterday’s Close: 0.09


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Ivyspivey
Posts: 5,918
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Ukraine LPG
Today 16:46
Ukraine has imported 740 tons of propane-butane mixture (LPG) from Azerbaijan in the beginning of the third decade of November, according to UPECO consulting company.

The company said that Ukraine hasn’t previously received liquefied gas from Azerbaijan.

“The importers are Ukrainian Nadezhda company and SOCAR Energy Ukraine (subsidiary of Azerbaijan’s state oil company SOCAR), which contracted for 530 tons and 210 tons of LPG, respectively. Heydar Aliyev Baku Oil Refinery is the producer of LPG,” said the message from UPECO.

The LPG was imported to Ukraine via the railway from City Gas terminal which is located in Romania’s Galati Free Trade Zone, said UPECO. The propane-butane mixture was delivered to the terminal in Romania with a tanker from Batumi Sea Port.

The company said that the import of LPG from Azerbaijan to Ukraine is fragmentary, as the terminal in Galati receives liquefied gas from various sources, including Russia, Kazakhstan, as well as Black and Mediterranean Sea countries.
 
highlander1970
Posts: 128
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Poets?
Today 16:38
everyone gone home?
Moleinahole
Posts: 2,152
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View Thread (2)
RE: Mr mole good post
Today 13:34
Zeps the type of bankruptcy here is critical. By going chapter 7 the subsidiary company is now in the hands of the trustee not frontera and the trustee administer the estate until they are able to make a distribution to creditors. Had SN wanted to clean us out completely and work with Outrider he would have gone chapter 11 not just on the subsidiary but the wider company and come to an arrangement with Outrider and shared the spoils using his RPN preferential debt - that is what Outrider were hoping for to force a sale to settle the debts splitting the company between the RPN (nearly $19m that SN et Al probably paid a fraction for) and CLN note holders (Outrider share $14m notes that they paid only $4m). Shareholders would have been left with crumbs or nothing. However, that also carries a lot of risk around how the Georgian govt would have viewed it.

So I take some comfort that we are on chapter 7 and with an adversary case being wrangled over rather than chapter 11. However, we should never have got into this pickle the court documents fill in the missing history here - the root of that seems to go back to 2012 and the subsequent run up to the Varang last minute fall back deal where for whatever reason finance or a solid partner was not secured giving Outrider the window to "help" our board out by introducing suitors! One wonders who else local in Georgia has been involved in this circus - one could guess.
regdik
Posts: 728
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AGM
Today 12:28
Last year the notice came out on the 2nd for the meeting on the 18th Dec. So still time yet for a notice to come out this year but I expect a delay due to the CC.
zeps
Posts: 8,213
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Bridger
Today 12:22
AGM Notice Periods - How long is 21 days? - MSP Secretaries
www.mspsecretaries.co.uk › AGM_Notic...
15 May 2014 - The Act states that the notice period for an AGM is 21 days' notice, although 21 clear days' notice is ... If the statutory provisions apply no account is taken of any part of a day that is not a working day but ...
zeps
Posts: 8,213
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Mr mole good post
Today 12:18
Wasn't sure about chapter 7 or chapter 11. So I looked it up. As below if anyone else is unsure. Just for reference.
Chapter 11 vs. Chapter 7 Bankruptcy
Diffen › Finance › Personal Finance
Depending on the type, or "chapter," of bankruptcy, debts are treated differently. In Chapter 11 bankruptcy, debts are restructured in a way that debt repayment becomes more achievable. In Chapter 7 bankruptcy, which is the most common form of bankruptcy, many debts are forgiven, and a variety of personal assets are sold — liquidated — to repay as many remaining debts as possible. In general, Chapter 11 bankruptcy is utilized by corporations and other business owners, while Chapter 7 bankruptcy is favored by individuals.

There are 4 types of bankruptcy filings in the Federal Bankruptcy Code (Title 11 of the United States Code):

Chapter 7 - Liquidation
Chapter 11 - Reorganization (or Rehabilitation bankruptcy)
Chapter 12 - Adjustment of Debts of a Family Farmer with Regular Annual Income
Chapter 13 - Adjustment of Debts of an Individual with Regular Income
The main difference between Chapter 7 and Chapter 11 bankruptcy is that under a Chapter 7 bankruptcy filing, the debtor's assets are sold off to pay the lenders (creditors) whereas in Chapter 11, the debtor negotiates with creditors to alter the terms of the loan without having to liquidate (sell off) assets.
bridget1963
Posts: 2,997
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agm
Today 12:00
Isn't there a minimum amount of notice that has to be given before the agm
Tsbs
Posts: 3,562
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RE: fire
Today 11:52
youre right Mole, I was thinking that the court case would be decided before xmas until SN stated in his cc that it would be, then I thought we are going in to next year then. However, im thinking of a top up just before the 12th just in case and now would be a good time with the sp as it is
Moleinahole
Posts: 2,152
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Price:0.09
RE: fire
Today 11:37
TSBS - that's my read of proceedings that's the latest date set as they have asked for more time. But the judge and the bankruptcy trustee will not want this going on indefinitely unless there is a large asset they can get their hands on to settle the chapter 7 and the growing legal bills on all sides. The fact it is chapter 7 and not chapter 11 should mean its taken to a conclusion but could easily be deferred again especially if someone is going to end up paying a bill its in their interest to delay. At some point the "winner" or the trustee will start to try force it to a conclusion before the judge that feels like after the 12th to me and with Christmas coming time this year is running out for court dates particularly if its contested as a complex case. But we will just have to watch the court schedule as FRR will not tell us! Also remember FRR won another court judgement and still await the $1m claim in their favour - FRR have resorted to litigation a few times in their history......
highlander1970
Posts: 128
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RE: It appears all waiting
Today 11:28
Zeps,

there's a lot of positives out there as well!
We had the 15 well campaign last year which we have not had full results on, the current 6 well campaign, how many other wells have been done? I think from the website (if memory serves and I don't have time at the minute to go looking) there was something like 68 historic wells which FRR have cleaned up and worked on. That is collectively a lot of wells that could have shut in production. Again, we are not being told this.

Shah Deniz will be shut down in 2017 for essential works according to the article yesterday.
The governments will be looking to get gas from somewhere during that period which, if SN plays his cards right, FRR should be able to winkle in our production however big it is which opens the doors for Georgian domestic production and will necessitate contracts being put in place for offtake. There is spare capacity in the pipeline for FRR to continue production after Shah Deniz comes back online after maintenance.

SN needs to get the production sorted out with the Georgian government which was supposedly going to be a speedy process but has turned out to be more illusive than ever, that is if he has even been working on the issue whilst sitting scoffing his lobster or whatever at the same table as the decision maker!

I do find it hard to believe that we don't have some very big news coming our way in the very near future due to what SN has been doing recently but this period is self destructive for PI's where we are between a rock and a hard place and we are waiting for the decisions and actions of 1 or 2 players!




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