Member Info for CF73

With Dec 18th not far off and a desire to not get into a costly court case situation, wonder if news likely next week??

The Dec 18th file defence by date ensures Outrider can't drag it out. The question is, will they file a defence and run high risk of losing and accompanying payout and costs or will they settle out of court??

My view is that we will hear something next week...

Good luck all!

Just going to say that I am pleased with that. Progress. Is what we want to see.

Good luck all genuine folks and holders.

Granted, I may be more optimistic than others here but a) past history - and lots of it - shows we enter these legals actions with positive intent and exit with positive resolutions, and b) the thrust of my posts were that folks were requiring some kind of news effectively now when there is a definitive date, 18th Dec, that we should be looking to as a benchmark.

The optimistic bit from me is the expectation that we will before then. I'm looking to the YA as a very recent and real example, which as it turned out, was settled very quickly

On the matter of whether Hope believes he has a strong case, they moved to default on the default an seize assets based upon, we can only assume (since in the time-window there is no other possible percievable trigger), must've been the possibility of a YA default. We know now that there is no YA default. It was settled hugely in our favour. We could've walked away. Instead FRR have gone for the jugular. We're in the stronger position not OMF / Hope.

Good luck all!

Not sure why folks are impatient when we have one definitive date in place, the file defence by date of the 18th Dec.

Expect news well before then. Don't think Hope wants this hanging over his Christmas Turkey preparations

*In my view...(was meant to read at end of previous post)

Also, remembering the previous FRR action against OMF / Hope going to out of court settlement and well in our favour

Except we have a timeline in certain events, including when OMF have to file a defence by.

So a question is, do OMF / Hope want to file a defence - inevitably a weak one - that will cost them more money or settle out of court?

The 'file-by' was given so that OMF don't try to waste time, drag it out etc. So they are fast approaching do or die. Do they file with the high likelihood of a more costly (to them) outcome or do they settle out if court??!!

So news on this front - an out of court resolution - imminent I'm my view.

Good day ahead of us today. Heading into back end of the week and towards what suspect will be the week hear about Outrider action (and in our favour)

Very much appreciated Devex's post yesterday (copied across by StarRage), pointing out Outrider shenanigans from before, not dissimilar to now, and how that led to favourable outcome for us then, as it will now. No doubt in my mind, just about the news landing. Good luck all!

Some of these alarmist posts today lead me to reflect on Mole's post about an organised group of traders working in concert (paraphrased, of course). I have my own thoughts as to who these folk are.

To this point, I've heard no bad news.

EWT producing enough oil to cover costs
MOU with Baker Hughes
YA taken care of, and sweetly,
VERY strong case against OMF/ Hope (and that we've dealt with them expertly before)
Super Major yet to be announced
NDAs still in place

We actually don't have too long to wait for news about where things lie.

Good luck all genuine holders!

...you utter pudding...

Just to add, agree with your sentiment Sources.

Expecting a bounce back today.

Good luck all!

The seller is not going to be Zaza. Ludicrous saying it could be him. He's in the middle of making FRR into a monster.

Those sells are someone else and likely - very likely - Outrider.

Right now, we're in a stronger position than we ever been. Producing revenue, with BH on board and a Super Major to be announced.

Not long to go! :-)

This happening. It's about money. And when you're the big players, you don't walk away from these opportunities and your partners don't want to be messing you a ring either, cos money's also political. Not to mention, GE and CMEC are about the only folk able to make this happen and the government via the MOU have said yes.

Time to be loading up. .

GE are committed to this, they're not walking away.

Guys, I agree this has gone on long enough and that we need resolution, including concrete news on something that sees materially advance unhindered. But the continued allegation of assets ending up elsewhere, in other people's hands, is hyperbole at best, and deliberate scaremongering at worst

We have no debt. No one knocking on our doors, driving us towards administration or to selling of one or more of our assets to pay a loan off. Indeed, our only recent debt was GRs $300K loan, secured as we all know, against our ARCM stake. And what happened there??!!

Rather than take possession of that stake or sell it to pocket the cash, he instead converted the loan to shares. Those shares now bring in tight, sticky hands as opposed to going to the like of Darwin, and their forward selling and shorting tricks. You don't do that - convert your loan to shares - unless you're comfortable you're not going to lose your money (the actual increase in his percentage holding in PREM is not huge either, meaning this wasn't about taking more control).

So let's keep it real. We need concrete news and would add that it needs to be something other than 'plain' drill results, that we deserve more and better (absolutely!) and that shareholder value needs to be high on the agenda. But this stuff about nefarious attempts to make a grab for assets or for someone to get then off us on the cheap isn't necessary or helpful.

Good luck all!

...buys trickling through again...

Come on the FRR!!

That last post is just utter rollox. Saying "the leech is deftly disposing of assets and pocketing the proceeds,", when GR originally had his £300K loan secured against the ARCM stake but in the end electing to have the loan converted to equity/ shares as opposed to disposing of/selling the ARCM stake (to pocket cash) or taking direct possession of it.

Got to be due a tick up going into the close, shirley?!

Sumatts going on, feel it in me bones

Good luck all!

On the Ee Bah Gum, I heard that in Yorkshire, when someone BREXIT, they FIXIT,