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If this is dated for the 18th November then things could have moved forward since then a bit. I'm guessing this was a result of the Arbitration that was supposed to be concluded around then. What are the chances if all this is the case that we might hear sometime soon an announcement on all of this, of some possible buyout or similar being achieved?
CF73: agreed.
As all Frontera lths will appreciate, it is difficult to recognise and believe good news after all these years of being ground down by repeated disappointments!
GLAgolitic
ODR, I hear what you are saying about guarding agauinst believing the bad news has stopped. Still think that we are on course and that largely there has been no definitive bad news for a bit - doesn't mean that there may not be any bad news in the future. But it does look like we're moving with Georgia in a particular agreed direction, and that was probably the biggest thing (certainly more latterly). In turn, it sort of increasingly negated the Hope effect. of course, not having all the information and not being able to the complete picture has meant our perceptions were inevitably tended towwards the very concerned and until confirmed, from our perspective, this remains [sort of] in the balance. But the information emerging is pointing to a resolution that in the end will benefit shareholders.
CF73: Optimism is always good but to say the difficult news has stopped is wide of the mark imo. We have employees, laid off, unpaid, demonstrating and (anecdotally) now on strike, and clearly we have no monies.
However, agree that there does seem to be a flow of positive signs all heading in the right direction... fingers crossed.
GLA
This is the thing, when we get any key bits of information, it shows we are moving towards a positive resolution. Other than that, we have silence. The difficult news, the stuff that was grinding us down contiuusly, stopped happeing a little while ago. We have proper to be optimistic, with the information being found over te last couple of months. Unless any new concrete information tell folks otherwise, don't be letting the in-between silence be dragging you down (and anyway, we haven't got too long to go, I don't think, in the scheme of things).
Thanks and good luck to all the genuine LTH contributors and folks here!
Tsb....it's their country,their land. We were going to give them approx 50% of any revenue anyhow.
In this guise.....that were all guessing about.....if it's 50/50 on asset.....maybe, just maybe, this is extremely good news on the timescale as to how long we have to extract oil..... infinitum ?? That would be mind blowing good.
Can't be right. But what a thought.
Prepped for sale.....sounds right..reasons to be cheerful !!!
humbug ;)
Merry Christmas to you to Timster
As Frr wanted to cease the case against Hope, but keep it open then chance that is the case.
Overall only thing all holders will think on is Frr finally coming through all this or a big SOLD sign outside.
Restart the case against Hope that should read. Also if money is tight and you know just have to wait a bit before receiving funds why pay anymore for lawyers.
"Another thought I just had also, literally typing this. Maybe this subsidiary is being prepped for sale? With a 50/50 split"
Maybe that was why the GG started the arbitration and now it's concluded to their satisfaction explains why FRR did not need any lawyers anymore for the arbitration as the case for the court cases as they know it will be settled soon on the sale of the block. They could always then start the fiduciary case against Hope if they wanted to AMHO.
"Therefore news could be imminent" :)
How many times has news been imminent? Christmas, Easter, Queens birthday, Diwali, Hanukkah, Eid Al-Fitr, brexit......
Something soon would be great it's only been a year us share holders have been told feck all
"Prepped for sale"?
The deal has already been done on condition of this IMO.
Therefore news could be imminent
Sycric
On the info from Oopsi, I am also edging even closer on thinking same as you're last sentence.
To me the newer company is just a typical capital structure for a business, showing who the shareholders are now. So the PSA now attached to that company to me just shows that they business is not 50% owned by each of them. I'm personally not hugely worried about that fact cause to me it would appear then the PSA would be possibly changed.
Originally doing what I believe to be a 51/49 split, this way I can only assume then that the Georgian oil body only own 50% of the business rather than an a percentage of the proceeds. Ultimately they are not just taking the good times of FRR they are also taking the bad.
Regardless of the ins and outs of this, the previous business relating to Hopes attempt to take control has now been liquidated. He is off the board and the corporation now have a newer business in Georgia set up after and more recently with this change of ownership. Why do that if the company no longer have control of the asset or we are doomed.
Another thought I just had also, literally typing this. Maybe this subsidiary is being prepped for sale? With a 50/50 split.
Anyways all, to me it's a huge positive. Just waiting for my cheque in the post.
Sycric
Been looking at Oopsi's documents. On Google Translate it says it is for:
" Company name: Frontera Western Georgia Ltd
Legal form: Limited Liability Company
Identification Number: 204905674"
Now on Oopsi's post and on his other link it lists the FRR company Frontera Resources Georgia. This is the point where the 50% share etc is mentioned. Not sure however whether these two companies are actually the same company, or new and old versions of each other.
" Identification Code personal number Name Legal form Status
405339637 Frontera Resourcesis Yu. this. LLC Branch in Georgia Branch of a foreign enterprise active
228525664 Frontera Western Georgia LLC Limited liability company Is liquidated
204931431 Frontera Resources Georgia Corporation Branch in Georgia Branch of a foreign enterprise active
204905674 Frontera East Georgia Ltd Limited liability company active
203853473 Frontera Resources Georgia Ltd Limited liability company active
So it seems to say that Frontera Western Georgia LLC is liquidated. But is the company that Hope went after in the US? Or is this new document from Oopsi explaining a new beginning (and agreement with the Georgians) has been started, as everyone has assumed? ANy clues, because I still don't know what's happened.
Hopefully Oopsi will explain in the morning. GLA
19,6 billion
Or around 15 billion pounds at today’s exchange rate
Pure speculation and no substance obviously
pash'd.
can you move it pls
Need to move your decimal point a notch there errazel
3% would using that matrix be 1.2bn
Cross reference the claim against GG from FRR, something like 3.7bn???????
Colly just checking.
Boxes being ticked and revelations at a pace just now.
Pure speculation and not even my opinion, but If the Gg have given up 1% for the 400 million cost recovery pool
The other 49% of our share is valued at how many billion.....
Prod yes sorry only IMHO, I’m as clueless as the rest just glad to see signs of life :)
Colly
I didn’t see anything in any of the documents that said the 400 million cost recovery pool was gone!
I assume that’s just your opinion? :-))
So maybe as mentioned the 50/50 split as it was before (small print 51/49 after sunk costs) but this new company wipes the slate clean regarding the 400m sunk cost so the government start to get a return from production going forward. Sounds like 400mill would settle the arbitration issue too
Well MP I still believe you are Lime....
No of shares quoted 4.1m ; 1.04bn.....same digits.......
:-)