Member Info for Arsenal221

The main reason for the Claim of Damages against hope was I think very likely to null & void the Default then at least restructure the deal on the Loan Notes in Frr's favour.

Otherwise what would be the point of just going for the damages of $56M, but losing an asset worth $Bs of which is clear that is not what Frr are thinking on.

Obviously Frr will/have likely have some of the $60M to use to pay off the Loan Notes, if needed.

Now we wait on the hearing this coming Thursday & see what comes out of it.

As mentioned I would have thought so.

Would also think that on things still going ahead then Hopes lawyers would have attended, so let's hope that it is due to an announcement of an OOCS. end of next week.

On both being clearly interlinked then would seriously think on the injunction being in place until an OOCS, claim being won or if needed L/Notes paid off.

On the side of the Default that is how I have seen it that Hope caused it, in the 1st place & on Frr having a strong case against Hope then winning the claim null & voids the Default.

Zen
Just say that it is great on having you add your excellent posting to this bb.

As SB mentioned that on Frr paying off Outrider then kick Hopeless off the BOD & have the bonus of winning the claim against Hopeless.
On it going on above that would put a very big smile on many faces, but will add that main thing is, still on dealing with the Default.

On the matter of both cases being made one. I have emailed YJ on this, but not had a reply.

Dave
Agree & sure many do.

Lets hope that something positive, is released soon & if it does come down to frr paying Outrider in full then at least we can then start to look forward to taking a positive step forward.

One thing that we just might have in our favour is the funding of $60M of which is still in play at the moment, also would hope that if not already the NY fund will be visiting Georgia within the next few days/week.

Ken
I also have thought that, as mentioned in last post.

It might be the case that Frr was waiting on the Default for them to file the claim, as ZZ & SN knew that was coming.
Overall, as usual it is a wait & see of which hopefully will be within the next two weeks.

Overall I am still believing that Frr will come through this & one, if not the main reason is that cannot see the above would put this all in jeopardy over a $2M payment Especially just as everything most definitely looks to be coming together & Frr being on the very edge of something very special for a small oil & gas company.

Sill though we need some positive confirmation through an Rns.

Shatner post below.

Correct Keniro.

We seek a new Nomad for now and when I mentioned WHI that was a resounding yes they would be a great tie in. There was also a whiff off well we were never really suited to them much anyway and it was a case of they had no choice but to step down based on what was revealed in the documents. They were as surprised as we were!!!!

This is a transparency thing.....

One thing I will say is I ran the worst case scenario by them and they were stunned, unequivocally no the opposite was the response, ZZ acting in the interests of shareholders not to risk the licenses and B12.

Also OOC settlement was the view too. Let's all be positive and we will get a positive outcome.

Nomad, is important. Overall though not as important in Frr being able to move forward in Georgia.

pophead
Think you forgot on adding LOL at end.
Sorting out Hope/Outrider, is Frr's main priority

Shatner
Thanks for your info & thoughts from your contact with YJ.

Top priority for many, is Frr dealing with the Hope/Outrider, as without that sp would very likely drop into single figures.

At moment only thing that I & many are thinking on is Frr sorting out Hope/Outrider through OOCS of which is very likely best way of doing it.