Member Info for cannyscot2

Thank you YJ. Sorry had written post before saw yours. Early days.

As chris572 says early days. Do not resort to slanderous remarks. Again it can be seen that Hope's actions have damaged the company and until that is sorted out one way or another Zaza can tell us nothing without giving away info that Hope may or may not be privvy to. His hands are tied until this court case ends.

If you were in Zaza's shoes what would you have written in that RNS keeping in mind all that is going on in background.
Would you have relisted the co with a new Nomad for s/p to be hammered due to uncertainty? Fighting battles at all compass points?

They will keep us informed via website. If you are wading through posts Zaza, then please keep your word on this. We, the p/invs are one entity who have supported your efforts and invested to share in success rather than plot your downfall.
As there is no advantage now in releasing info to affect share price, we EXPECT regular coms re progress and arbitration once court case finalised. The shareholders DESERVE no less.

We are locked in, like it or not!! We can only take you at your word and see what transpires. I am not being naive. Just hopeful that the nearly 80% of owners of this business will be rewarded in the future!!

Jury is out. Over to you Zaza!!

Seriously, don't know what you are high on but can we all have some. Why do you continue non-stop ramping up FRR and filling the board with carp? Just sit on your hands for a day or 30. Pointless does not begin to describe what you and (sorry) you as well mapp, post on here endlessly day in day out.
Have to trawl through to read the decent stuff and most days just too much effort.
Your hearts are in the right place but just take a break.

So long as operationally they can keep the lights on, temporary delisting whie this court case plays out could be no bad thing. Another 3 months and YA will be repaid? A bit worried at the potential length of court case and who is best served if it drags out. the LTHs will be well aware of how long it took for the last settlement won by FRR.
So it all hinges on production, the finances and the two majors still being in the mix as well as winning case in the Caymans.
FRR survived 2016/2017 with virtually no production and this time around when the chips are down they are selling oil. We just don't know how much. As mole said they have not raised finance from s/holders for nearly a year.
Fighting on a lot of fronts but we know Zaza and SN will not roll over for Hope.
Meantime we are all scrabbling around like wee haggises trying to escape the inevitable. Their number is up tomorrow but hopefully us Fronterians will live to fight another day.
Those desperate for news will just have to be patient. No point in taking out frustration on this bb.

Thanks for update (of sorts!!) but we know your hands are tied to a certain extent. Hey folks interesting that we had heard nothing since suspended on 24th. Now over 3 weeks later on the day after some sort of sitting in Cayman Court YJ advise that FRR working hard to get new Nomad on board. We have been given signs before which on hindsight have indeed been hints.
We will enjoy the weekend better if we take this as a positive. Just mvho.

merlin - CFDs were mentioned

Just as bad - got ISA statement today - only FRR in it - healthy number of shares and value O.
If this comes good I will frame it!

de post of de day. dat is what we should be concentrating on. Not de doom and de gloom.
WE DO NOT KNOW WHAT IS HAPPENING BEHIND THE SCENES.
We can be sure that Zaza and SN are well aware of the deadlines. FACT!! Don't need to phone or email to find out.
WE ARE AT THE MERCY OF THE LAW OR OOC SETTLEMENT AND SOME COMMON SENSE PREVAILING INSTEAD OF HOPE'S GREED.
JMO but I think new Nomad will be waiting in the wings while the action in Caymans plays out. Then if we are good to go the papers will be signed (possibly WHI as has been suggested on here). Then a new broker to replace WHI if that is what happens. All hinges on the court outcome and due diligence on the additional funding.
Is this us finally getting the house in order? We should find out one way or the other fairly soon.

Where to now we wonder!!

out!! SC

I recall you saying on ii a while ago that you traded this share and also that you were at times quite derogatory towards the LTHs and FRR on ii board. Also recall that you had family illness and everyone sent their VERY best wishes (which still stands).

Are you really so unfeeling knowing how much the LTHs have invested that you need to post about how you feel about FRR (basically trashing the company).
That said it was a strategy that paid off for you up to now and more than one person will be wishing that on hindsight they had a trading pot as well as their LTH to offset any future failings.
In the grand scheme of things your "binary bet" is unimportant and we really don't care. What we do care about are our own holdings and I for one care about all of the good people on here who have a lot of funds invested in FRR as they invested in the future wellbeing of the company. We have gambled just like you but the majority of us also care about FRR and their rollercoaster ride over the last 20+ years. We want to see them move on positively from where they are now. You clearly do not care about that, only your "binary bet". Get real. Over and out!!

I think he said they needed Niko 1 to get to the 1000 bopd but that could have changed through EWT at T39??

We will know what FRR's future holds. Two plus weeks of guessing games.
One of you probably got it right but personally waiting patiently on company news and trusting in Zaza that we do not have to wait too long.
So many positives recently and Hope wants to ride off into the sunset with the lot. Damn him.
We can be sure that Zaza and SN will do everything to not let that happen and all we can do is wait. No theories to post on here just private thoughts and trusting the law will be on our side too.

Please pass on best wishes to the moudie.

There has been speculation to heaven then hell and back. All we know for sure?? is what has been RNSd and what was in the court papers as found by Star and as everyone knows there are vital parts missing in order for us to be certain of what is happening. The fact that the RNS re court action was worded so strongly can give us some comfort but we are at the mercy of Cayman law when all evidence presented. No point in talking it up or down till we know more.

No point either in speculating any more. We can only sit and wait for Prod's Carlsberg scenario to materialise. Just hoping that we return to market with some positive news before the 24th.

I think Mole was justifiably annoyed like many others that vital info re interest on the loan notes was not known to us PIs. However we are where we are, either covered in **** or we will be so happy soon that we will be rolling in it. Anyone's guess.

AGAIN!!!

Frontera initiated court action against Hope/OR - NOT the other way round. As usual it is being spun elsewhere that it was Hope who took FRR to court due to default.

Like lots of others still hopeful that all can be resolved.

If up to $20m of new facility is allowed to be used to repay existing debt, majority if not all to OR, then there is still debt to OR as things stand. Once again Hope would be seen as standing in the way of progress if he does not accept a 2nd charge over the assets i.f.o $60m lender. If he paid $4m for the notes he would 5 bag straight away and if we progress from here with the majors his other $10m would be repaid in due course, probably with a new agreement. Or perhaps this is why the NY funders would be taking a delayed first charge (until OR repaid). We would need good terms on any future agreement to avoid stranglehold by both lenders until production increases as we will have higher costs of interest and work in the field. No more death spiral lending please!!!

That is assuming there will be an OOC settlement. Can Hope afford to let this go all the way into the court room and face a possible judgement in favour of FRR? As we do not have access to all the evidence from either side we can only wish for common sense to prevail and/or the law to be on our side.

The Nomad's resignation could be a blessing in disguise as it allows other issues to be sorted out (fingers and toes crossed) and we can return to the market in a better place than when TW & Co were spinning their usual vitriol before Christmas. Q. Where DID they get the info?

As for who was selling the chunks of shares (usually below bid) that remains a mystery for now. Keeping in mind that YA got caught out pre-selling I am doubtful that it was Hope as he was asking for cash or shares (correct me if wrong) as per email. Possibly it was Zaza and Steve, as someone suggested, selling X no of shares in small chunks to pay off Hope (not wanting him to have shares with which he could manipulate the s/p and the sales only had to be reported when the full number were sold. Not convinced this scenario is correct either as chunky selling increased just before suspension. Could be coincidence as there are a lot of shares out there.

Hopefully we will know more about future direction before too long. 2019 could be our year. We will just have to wait and see. Meantime back to being patient AGAIN!!!!!

if BP were hoping for these then 31st Dec would have been the day to show their hand. Did we miss the boat or are things being sorted out behind closed doors? Would they really want all the big names being in Georgia while they are out?

Nothing is dead in the water till fished out, given the kiss of life and then if still no response...............window hangings.
Still hopeful that all can be resolved. Let's see if there is any positive news by the end of the week before we pass judgement.

Happy New Year to yin an' a'.
Furst may ye a' be hail an' hearty.
Guid health is the be a' an' end a'.
Seecond may ye a' prosper,
An' benefit frae FRR.

ODR you have hit the nail on the head there with "speculation". Every possible outcome has been discussed on here during the last 6 days and even before that. If we are honest all our thoughts are probably swinging to and fro like a pendulum or like branches in a stiff breeze.

On one hand Zaza is surely not naive enough to think that Hope would ever agree to his 5m revolving credit facility ranking higher than note holders 30m? Or did Zaza think this was perfectly reasonable given his conversion of FRR debt to equity? On the other hand it does prove that Hope blocked funding. Baited hook and all that. How will the courts see it? New funding is key to solutions as long as Hope hasn't got the keys. Has Hope lodged a defence or counter claimed? We should know the answer to that before long.

Zaza we are right behind you For a good outcome here and if this all plays out in our favour we would like to see you having a shareholder meeting back at 1 America Square very soon. A few serious questions re the terms of the 2016 notes not being clear either at the time signed or in more recent Accounts. If new funding follows through we will expect to be told the terms so we as shareholders can assess our risk.

Rainbow only no 10. Don't think so.