Member Info for Goit

Worth remembering 'The MOU divides the scope of work into three phases. During Phase I, candidate wells at Taribani will be chosen to work on field program with the aim to increase oil production. During Phase II, the parties will cooperate to work on Taribani field development project that may include, but not be limited to, the Work. During Phase III, the parties will cooperate to work on future projects that includes BHGE solutions and expertise with regards to the natural gas monetisation.

Pursuant to the MOU, the parties will work together towards entering into definitive agreement(s) which may include, but not be limited to, commercial models regarding increasing the field production, BHGE's provision of services and products, and the Company contributing to the venture via sharing of its oil and gas production. The MOU will remain in force and effective until 26 September 2019 and may be terminated by either side giving 30 days' notice.'

Says in the source code for the page was modified on 24/01/2019 for anyone who was vaguely interested

Noticed creeping about on the frontera website 'zero harm in 2019' on the safety performance. Hopefully that isn't because we're not doing anything heh...it's an image, so they had to at least edit it and upload it to the website to say that. Could of been done Jan 1st for all i know or when they ditched Hope from the board. Was anyone paying attention?

He hasn't got the minerals to do that.

I'm sure it would raise a few eyebrows, even amongst investors here if FRR win the Ukraine contract based on what facts are currently available. If we win it, then I think its safe to say we're coming out of this whole charade guns blazing

Why does Wshak have such a hard-on for frr? I'm not sure if he is aware but we have been delisted all year. Nothing he posts has any impact or is open for constructive dialogue and is frankly a waste of his own time. I can only assume he is feeling vulnerable and trying to soothe his and his followers nerves.
Very very bitter and sad. Did Zaza snub him?

Thanks finn, maybe 90 days is just a standard duration for this particular process then?

Can't access the RNS to find a date for the NDA - if such a precise date was ever posted. Could be just the end of the 12 month period. Hopefully we will see news before then and accessing the document will become redundant, apart from intrigue

TIm said he understood shareholder plight and was trying to purge some information from FRR. But in 5 words heh

Sorry, I prefer the term reserving optimism, just seems to be trending that way, after the judge didn't seem particularly happy with our conduct so far - I wouldn't be surprised.

On a positive note I got a brief reply from YJ, so Tim is still alive and kicking for FRR

looks like we could be in for a fine or 2?

I don't think we will hear anything until the court case is concluded in some manner or a deal is struck involving the 150m loan and the major/s - ending the NDA. We know FRR claim to be solvent and by a few sources, that operations on the ground are still underway which we assume to be true if the decleration of solvency is also to be true.

Frustrating times. Having only part of the picture, and no idea of the original plan by the bod, we have possibly spun ourselfs crazy with predictions and naysaying, hanging off every tidbit of information we could find. Hopefully one day soon we will find out if it was all for nothing or justified. I think most rational people understand the sensitivity of information at this time, when people say they want an update from the company (what I think they mean) is psychologically they want reassurance we are not dead in the water currently and their money not pissed up the wall. A few words could go very a long way for shareholders. Something like. "We are solvent, making progress in Georgia. Still in talks with majors" I'm sure we'd all cling to that like Kate Winslet hung onto that door in Titanic, watching the shorters drift to the bottom of the Atlantic like Leonardo Dicaprio. Rainbow Rider would quote it till the end of days - except this time we wouldn't get sick of it.

I have 4.5 too, been looking at jag f types heh

Thanks for the replies. Guess it would be rainbowrider territory to think 5% royalty was enough to service the debt in 12 months. I hope the solvency is based on production numbers over that duration but i suspect it is more reliant on the 150m loan (which must also be based on good numbers so who knows) . Although, if we have asset X and it is valued more than enough to cover all liabilities is that a ground for solvency?
Had a little trip over to advfn, looks like it's been infiltrated with a few new users who are spreading some good news to them haha

Just had a thought, was it for the subsiduary with 5% royalty in that was being liquidated or the whole of FRR?

Spoken like a true 20 year old woman....got that character down to a tee

Assuming they don't have an ace up their sleeve they should be wrapping up the Cali action? and also assuming the statement of solvency has been accepted, we might actually hear something from FRR since all court actions are wrapped up.

This company does have an impeccable bad correlation record with the assumptions made on this BB though heh..

'Defendants represented at oral argument that the directors have submitted a declaration of solvency to the voluntary liquidators.'

Article is just generally raging against frr and its performance in moldova and currently known performance in Georgia. Says that 3% of ukranian shelf has been explored and that frr initiated the competition for the license of which, there was only 2 months to apply for - which is unusually short compared to other countries and that the deadline for application is the 12th of June, which doesn't leave much time for big companies apparently to apply for it. There is currently an unknown amount of companies that have put in for it.
One thing that raised an eyebrow was saying Steve was a 'former member of the Atlantic Council's international advisory council'?

That shell company still has the 5% royalty in it and I guess it doesn't look good for our argument if we don't try to protest them liquidating it with the injunction, even though, ultimately it appears it was too late for that, which is what Hope's side argued initially. Also in one of the previous legal documents posted on here by taffy, it said something like (don't quote me) that the liquidators had been contacting the PSA holders which was causing damage to frr as a whole - or something along the lines of that kind of argument (can't remember precisely how it was said)