RE: ZAZA and Steve24 Sep 2019 15:54
Nice theory regdik... But let's just say... Hope works for Outrider (Finance) Hope was on the board to protect Outrider investment. Hope has no interest in the field. He is a money man, not an Oil man. ok, so each time Outrider took a tranch of shares to cash in as debt repayment, they got X amount of shares and sold them off as quickly as possible. Raised XXX $s However, they wanted more, and accordingly, the SP should have been higher, which would have meant they would have got more $$$, but the SP was being kept low, Shorters like a low share price as it does not expose them so much. Now, It got to a point that truthfully, the SP was ridiculously low, YA was also cashing in shares.... So much so, that they got caught cashing in shares that they had not even been issued... Money was being pulled out of FRR faster than they could get any oil or gas out of the ground. Whistles started blowing and leaks appeared... (TW) Cairn got wind and felt the only way they could go was the highway. I am pretty sure Outrider would have no interest in Block12. However, are very interested in their debt. They have probably recouped the debt already, however, they are not happy in the way the BOD has mismanaged the field and any possible revenue from it. Just a theory... I'm guessing the box Hope is fighting for is the Outrider Master Fund LP, of which Outrider Management LLC is general partner, holds the majority of the loan notes which were restructured and issued by Frontera International Corporation, a wholly-owned subsidiary of the Company, with a maturity date of 1 August 2020. I can honestly say, nothing will happen here until that date. So come 1st of August 2020, we either see the company has made a lot of money and we all win, or we see everything folded and we all lose out. Except for the BOD of course.