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Agreed EkXoc I absolutely love it when he's on this board protesting too much. Gives me a warm glow. :-)
Keep it up Star!
Yes MP the wolf (or wolves) of wall street comes to mind....
Haha MadP...he's well known now on these shores through social media sitting on his bed waiting patiently lol..
If you weren't here I'd be worried. If someone is willing to pay to defame then then must be a very good reason.
Not saying FRR will win but whilst SR here they haven't lost.
I sleep sooooo well after an SR tantrum
Earsbern - IMHO it's more likely that they are now worried about their own finances if they shorted FRR, plus the possibility of being extradited for racketeering, if any links are found in the Californian discovery. Their a****'s could be literally on the line in more ways than one (appointment with Zib's Mr Big in a US penitentiary).
JV
Excellent
Using data from MadPunter's 14.54 post - if GAV stands for Gross A/c Value, then OMF's total value from all 3 of their a/c's at 25/03/19 was only about $65 million. That means that the cost of losing in California, with damages and costs, would practically wipe OMF out. Does this explain why Hope's dopes won't leave us alone? Desperation?
I don't blame Starage for seeing the situation in stark terms, I think most people tend to like to see the more rosy tinted view of most situations it's only natural for many really. I find it helpful to have Starage's view without positive notions, at its base level as it were as that is a lot of what exists here it seems. In terms of us shareholders I think the one think that may avoid our shareholding being diluted down too badly is the fact that Zaza, SN, etc have large shareholdings. If our shareholding gets badly diluted down so will theirs presumably. There's several ways Frontera could slice and dice the situation, buyin/takeover, JV, Loan or some sort of agreement like they had with Baker Hughes to develop the field more with Baker Hughes or similar taking a cut of the revenue. Another way could be to get more investment onboard to develop the field. I know the other day someone mentioning existing shareholders might be persuaded to stump up some money, but that of course would rely on FRr disclosing where we are at, what they would do with the money (presumably pay off Hope) and there being a long term viable operation without obstruction from the GG.
At the moment it looks like it might still be games if cat and mouse at FRR. I would be hopefully of a deal and apparently some source was saying ZM going was a positive but in what way we don't know. To me though it sounds like there is more to wait on this share, probably till after this October Election at least.
If FRR own 1% of B12 - how much is that worth at market value ? I.e what would a SM pay for this asset ? MP?
You can then work backwards from there - monies owed and/or whoever is in line for a slice of the pie.
Maybe wishful thinking but I just can’t see FRR existing in Georgia after all this. Too many mistakes and too many bridges burned. I think they will sell what they have. It’s a question of how much it’s now worth???
all seems pretty plausible to me
We need an appearance from JJ Carter with a light shone on the outcome here then everyone can stop arguing
Starman - has it ever crossed your mind that all parties concerned want a resolution to this......and one that may benefit all said parties. Lawyers are paid to find ways around the law and reach mutual agreements - that’s why they are paid so much. It’s in everyone’s best interest right now that some form of agreement is reached. Of course it may favour one side more than the other but none of us can confidently say what side holds the best hand.
I am, however, quietly confident some form of deal will be done and like MP said, this will remove any further need for court proceedings. I can’t see the benefit to anyone that this now drags on and on. No one wins!
You seem so desperate for all to fail for FRR that I struggle to know what your position is. You repeat yourself constantly to justify your stance and in all this time of saying the same stuff FRR are still alive and fighting to secure their asset and it’s associated value.
Your a bit like a well known US president - just keep repeating the same old sh@t hoping it might suddenly come true. We all know what the world thinks of him !!
Either way it looks possible Zaza going as CEO (assuming that is correct) may be a technical move to avoid such court issues. Difficult to know whether for that reason, for some dispute with SN and the board or because a deal is in the making. I think the GG backing down may have made more possible post Arb but I feel it would be moving quickly and quite how much more movement it would allow is difficult to see.
Odds are I'm guessing we'll have to wait until the next piece of news surfaces somehow. Georgian Election is just about a month away now so who knows if that may help at all.
SR - If the Block 12 was in the US, I would possibly agree with you, but it's in Georgia and by the time any deal is completed, they can have the money transferred straight to the NY court.
SR - Valid, but worthless if all debts are paid of due to a CRS. It is what Outrider Management has used, which possibly explains why the vulture fund is still able to operate.
Posted by bugsy-b @ 20:37 on the 29th April 2019 :-
"Significant Red Flags
Disclosure Reporting Pages (DRPs)
Has Legal Enjoinment
Has Legal Violation
Has Civil Regulatory Settlement
Has Pending Civil Disclosure..
hmmmm... Wonder what this means... (near bottom of page)..
https://predictiveops.com/advisers/130152
I agree star, and neither of us know all of the detail that goes with it. You seem to be arguing in the knowledge that you know it all !
R8pilot - Directors can sell the asset as long as it results in a CRS. This acts as a waiver against breaking the court's order of a stay on the asset.
Yes
Do you really believe the ducks are lining up R8
For someone who ‘thinks’ he knows his way around the legal system, why did you bother with a legal team to take Cairn to court?
There are so many twists and turns that nobody on here knows exactly what’s going on so it’s not worth arguing. If though, as Star has suggested, that
“ no director can do anything with the asset”, then maybe that’s why Zaza is no longer the CEO / director !
Many ducks lining up here very nicely. GLA
SR - The stay came after the asset transfer. However, it is not worth the paper it written on if the asset is sold and all debts paid due to CRS. This also explains why the case moved from the Cayman's to California, rather than to Texas, as a waiver due to a CRS is not valid under the local laws in California, but in Texas it would be valid. In other words, SH/O can be tried in the Criminal Courts if they lose the case in California and possibly TW et al, if there are links to racketeering.
If you don't understand the implications of CRS, I suggest that you read bugsy-b's post @ 22:09 on the 29th April 2019, which can be found on the page in the link below :-
https://www.lse.co.uk/chat/general/commodities-and-mining/frontera-archive-41C7D130-7E51-4344-82E7-83B697F53322.html?page=8
SR - You're quoting from an article which was released to this BB, and which has been outed as an erroneous source in a letter by Bryce D. Linsenmayer. Furthermore, both Zaza and the GG have referred to FRR operating on Block 12 since the arbitration and the attempted snatch of the asset by the GG.
SR - We know that FRUS have the technical ability, as it's the same management that has been operating on Block 12. Therefore, the only reason for the GOGC to block the transfer was the lack of financial ability, due to frozen accounts and blocked oil sales. If the accounts were frozen by the GD and if they blocked the oil sales, then now that FRR are operating again, the transfer would have to be ratified.
SR - If the asset is sold and the debts are paid off, then breaking the law by not adhering to the stay on the asset is immaterial. As long as the debts are paid in full, it becomes a CRS, which acts as a waiver. When the debtors and liquidators are paid, a wrong has been righted and due to this CRS, that is the end of the matter.
SR - We know that FRUS have the technical ability, as it's the same management that has been operating on Block 12. Therefore, the only reason for the GOGC to block the transfer was the lack of financial ability, due to frozen accounts and blocked oil sales. If the accounts were frozen by the GD and if they blocked the oil sales, then now that FRR are operating again, the transfer would have to be ratified.
Thanks Star
Not seen the actual text before , happy it confirms points in my post .