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Reg, Maybe SN’s son-in-law Lucas T Elliot a Dallas based attorney is giving him some free advice..
Looks like things are moving in Texas and the lawyers are taking and 12 Feb is an important date. Or should I say might be an important date or just a lawyer turning up with a settlement cheque to pay off OMF after an arbitration settlement leads to a deal (loan or sale). A lot is scheduled prior to this date. Or it could be game over as GG take back the licence from FRUS. Then the 3.5 Bil damage case really starts kicking off (FRRvGG).
One thing for sure Hope will end up with nothing from FRR and SH will be left hanging for years.
One thing that is a “true fact” - SN/ZaZa know how to duck and dive and must be guided by an expert in legal loop holes otherwise it would have been game over by now or have they not reached page 54.
This whole business is becoming more bizarre day by day.
Firstly thanks to Star and others for their hard work in finding out what is going on and bringing it to our attention. How this will conclude is anyone's guess, but looking less positive the more we find out.
By bizarre I mean if SN and ZZ had put similar effort into proving up the resources as they now are in fighting to retain hold of them we would not be in this position ( over reliance on Uncle Sam's influence?)
That may still save the day but what a way to run a Company.I still have my suspicions about this whole set up and who is/was pulling the strings. In the meantime our money appears not to be a factor they are taking account of.
JMO
As a reader of this BB it is so ludicrously apparent that there are 2 people on here today that are desperate for this to fail.. They work as a tag team to bolster up their opinions. Quite relentless and very tiresome now.. Guess who?
Pop,do you think zz as reported saying frr de listed is lies or that when frr said they were actively in talks for a new nomad were lies.one must be untrue ,which one ?
Just skimmed through the hundred pages of the mortgage doc.phew.
I suggest everybody should read it.pages 54 and 55 deal with the shares and earlier deals with transfer of assets etc.its all there and it reads exactly as star has stated.
Just read it ffs .they may have somehow transferred the asset against the terms of the mortgage but I would be surprised if any court would call it legal. Sn and zz have obviously been extremely obstructive to the liquidators so is taking an age to discover wtf has been going on but I would imagine the asset ownership will be surrounded in litigation unless the gg step in.
You cannot know if he was telling lies, you position surely cannot be based on the belief that ZM is a liar?
Also Star and following on from Ziggs post if you believe that workers have not been paid then you believe the journalism and in that series of revelations it came to light that ZAZA had said all negotiations were successful with the Gov bar extension of the PSA.
Star
you posted earlier today
......In my view, the fact that they have tried to move the asset which appears to be illegal going by the wording of the mortgage statement ....
You also said 6 Nov:
......The mortgage agreement that SN/ZM signed specifically stated that transfer of the asset was prohibited.....
Below is my post 7thNov.
Earlier this year when Caymans Judge was being rushed into injunction by Hope side he said:
Mr Hughes ( Hope lawyer) made somewhat vague allusions to steps which could be taken at the subsidiary level to erode the value of Outrider's security.
He went onto say
Therefore it seems to me that once one reaches the stage where the contract comes to an end (as it would do with the granting of possession) there is no right in the responderit to beprotected by the granting o f an injunction.
Pretty certain asset move was in the period after possession by Maples and before liquidation. So thinking above means asset removal as far as Mortgage terms are concerned was not in breach of agreement
Agree totally with RegD.
Although I do think the likes of SR has posted some useful stuff and we should all consider alternative views even if perceived as negative the most important but to me is any discussion in the SN response from the likes of Oopsi is what I want to be able to see and discuss and not wade through pages of treacle in order to unearth the gems lol
I get it Star and its a laboured point with all due respect. Fact is Hope as gone to the courts in Texas to get cash back off hope, thats it. I am happy to accept that because wether or not he would take a share certificate if he won is neither here nor there. At the end of the day he wabts his cash. I do believe that there is a distinct posiblity that he has been forced down this route because all other avenues have been closed to him.
POP, as reg has rightly put for those who dont understand- the shares have value - they just do not have any current listed value. Thats a point that the negative spinners dont want you to understand. When i say you - i dont mean you personally.
The court papers state in black and white that Hope and OMF expect the shares to have considerable future value - im counting on it. And would probably prefer if that value was not in a listed market.
FFS - zeps would buy high and sell low until he had no capital left. LMOA
Sorry Zeps- but you know i am correct. "-)))
I think you could be wrong on the morgaged share value Star. Its more likely that the value was set at a given share price on a given date to determine the number of shares needed to cover the interest. To say that 500m shares have that given value now just does not make any sense, if hope were to take the shares in recompence for the interest owed then he would have to have a belief that the shares would have some future value. If he were succesful in Texas then surely he will be handed a whare certificate for 500m shares or the cash. No connection to the liquidation. GLALH including you Star if you are one.
I didnt read your earlier post as ive grown tired of your negativity.
But - given the shares are currently worth zero are you suggesting Outrider want these shares to say they have won the battle for some worthless paper - no didnt think so. Especially not when it states in the court papers that they expect them to be very valuable in the near future.
i havent pulled up any posters who have said hope must want shares as they will be worth considerably more - because i think they are right to think that. Its there in black and white after all in the court papers.
Your quite right not to be bullied off the board, im sure your self righteous sheriff of the frr bb ego wouldnt allow you- not sure many would pay your charge for keeping them right though. You put forward a negative in every scenario. I dont agree with your opinion.
You may post up certain facts but then drown them out with infinte dross negative spin. Death by a thousand paper cuts to anyone who bothers to read them all.
I will leave you to your negative opinion and glance an eye over your ramblings from time to time fool.
Ive been taught to never argue with a fool- apparently you will bring me down to your level and beat me with experience. LMOA
I have no desire to soak up that level of negativity. xxx
HI Reg,
Appreciate the post.
Can you shed some light on the recent reposte by SN please.....
Interesting those that think the shares are worth zero, obviously they have little or no experience of owning shares in a private company. These shares are not listed so have no listing value – hence the 0.00 price shown. The last closing SP should not be used as an assumption of value.
The current value of the company is unknown to us mere SH’s but ultimately will be based on their asset and in the case of FRR the value of the seismic reports and data (this alone is worth many millions to a potential operator). The licence will also have a value based on this data, time left and the sunk costs of +400M will have to be taken into account (if they sell/JV the block the new operator can recoup this). Yes they have debt in the region of 55Mil and owe wages to employees and lawyers but saying the value of FRR is zero is disingenuous.
I wish those that post inform for the consumption of this board make it clear that this is ether on personal opinion, assumptions or fact (backed with evidence). Not posting snippets or emotive headings and then wonder why others object.
Some good information on the SN submission is being drowned by some on here. Reading some of this looks positive to me but I’m looking forward to Oppsi’s and other valued posters take/thoughts.
Our friendly negativeer- you posted earlier -
Thanks for the sentiment ODR. Personally I think of myself as a stress aid for the head in the sand brigade who can't face some of the realities of the situation and their only way to stress is to rail against me. I should really charge them a fee but I guess I'm too kind ;-)
The main issue with their abuse is it stifles proper debate, which is what this forum is supposed to be for.
stress aid for the head in the sand brigade eh. LMFAO
Star only posts up information that with out that he twists to have conceived as negative without knowledge of the company history.
They post snippets or links to files which they then fill post after post with a negative slant. Its not a debate worth having because your opinion - which differs from mine and many other LTHs - would not change even when confronted with fact and as such is a complete and utter waste of time.
Happy to read your negative points and spin even if i dont see it the same way or agree with most of it. There is spattering of facts around the court cases - they at least are undisputeable.
Right wheres that sand pit im in need of a dark space LMOA