except for the Outrider stuff, so Quindell may well have had the right info yesterday, although it is not clear it has anything to do with MND. What I found funny was 'contending that Outrider was complicit in a scheme to misappropriate the Company's confidential information and trade secrets' - they probably just wanted the same information that us shareholders were and which the company seems determined not to provide us.
More jam tomorrow but SN has a lot to lose too. Hopefully the court will reach a decision ASAP and we can motor on. Not sure he's ever said sustained production levels..
"Frontera's exploration investments since the beginning of this year continue to demonstrate our commitment to the methodical technical progress that our work has achieved to date. Because of the significant oil and gas resources that our historical investments have identified, our focused efforts to evolve stimulation completion designs are now yielding results that have never before been achieved. As we continue our planned work programs through the remainder of this year, we strongly believe that our operations are reaching new milestones that will result in bringing the giant oil and gas resources associated with Block 12 into increased, sustainable production levels."
In addition, Frontera asserted claims in the Adversary Proceeding against the holders of the largest outstanding group of Notes, Outrider Master Fund LP and Outrider Management, LLC (collectively "Outrider"), contending that Outrider was complicit in a scheme to misappropriate the Company's confidential information and trade secrets on a number of occasions in 2014, 2015 and 2016, and through those actions interfered with Frontera's financing efforts and ability to capitalize on financing and development opportunities that were then available to Frontera. The Adversary Proceeding and Chapter 7 Proceeding each are in their preliminary stages.
"Political challenges in Georgia's domestic gas market continue to delay related gas-focused investment and production due to the Ministry of Energy's discouragement of ongoing exploration of domestic natural gas resources in favor of preserving existing gas import monopolies. This continues to maintain a hold on previously announced expectations to achieve daily gas production in excess of 7 million cubic feet per day from existing exploration pilot production operations. As efforts are ongoing to address the Ministry's opposition to this work, we are hopeful that it will ultimately see the benefit of allowing for a free and competitive market for U.S. and foreign investment in its domestic natural gas sector."
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