To be fair, Frr instigated the case but only in response to Outrider calling in the debt due to the, now withdrawn, default claim. I believe FRR have acted in response to that action by Hope and Outrider to strengthen any negotiating position they have and perhaps they finally hope to stick it to them for the other previous years of abusing their close position to the company, ie the take over attempt and sharing company info. Obviously I hope Frontera have a very strong case, but I don't think we can assume they must just because they seemingly initiated the case. They had everything to lose and nothing to gain by not putting in a counter claim, so imo this is all "terribly" exciting. Frontera have been proven to be very good at fighting for their rights and have many many years of experience in fighting against all manner of obstacles. I hope for a triumphant victory and an end to the last, umm, 6 years maybe, of groundhog day holding here.
Lol, sorry. I'm after nights and had the kids whilst my partner worked. Knackered!
Must have had an old window open. I replied to a message from this morning thinking it was from now.
Of course not. Do you really think the due diligence will be satisfied simply because Frontera have signed an MOU and are in informal talks with an unknown major. Unless a deal is officially sealed they will mean very little to the lender. Frontera may be able to get the loan and/Or the deals with majors based on the result of the drilling campaigns and the data on the assets in the ground that Frontera has gathered over many years. A slightly odd take on the situation if I'm honest.
8-11% but only for the term of the loan. The BH deal could be a percentage of revenue from the wells they drill for many years more or for the life of the well.
Let's hope so Fire. We've been here too long saying the same things over and over again lol It has been slower than any of us thought possible, but I think things could be worse, ie they coukd have gone under long ago or fleeced us somehow and taken the company for themselves as I used to worry they might, they haven't and the potential for success has never been greater, at a time I I fully believe their and our interests are now aligned. I also have more of an understanding and appreciation for how difficult this has been made for SN and Zaza. They had to fight hard to even get to where we are today when it must have seemed at times that almost every side wanted them to fail. I'll reserve judgment on Zaza's short CEO performance until flow rates are released and I'm being understanding of just what may be going on behind the scenes with the court cases in the meantime that might make the silence neccessary. MASSIVELY frustrating for me as I was genuinely hoping that I'd be able to sell up by now with enough profit to quit my sheety job and have more time with my family, but alas I find myself having to nap shortly in preparation for another sheety night shift followed by a tired day of looking after my boys whilst my partner works. Maybe next year will be our year!
Going back to SN getting us into Georgia, if this all comes good I think we owe our biggest thanks to the Azeri's, as without their input Frontera would not even have had to list on AIM!
We do have initial flows from t 39 and whilst I agree we dont know enough, I think it's too easy to just make a sweeping statement comparing Zaza to SN. As for the nda, I do tend to think it's a convenient way to keep full updates from being released, but I also believe that all really comes down how they needed to deal with YA and Hope. I've already posted that I believe we won't get a full update on the well tests until Hope is dealt with. Seeing the bigger picture here and the complexity of the situation they face I'm accepting of the way Zaza is handling this and a I still believe he's working for the good of the company, himself and us private share holders. There is still a big risk but I still find it hard to believe that people compare this difficult time of waiting but at least being self funding on a basic level, to the dark days of the past. It's so different in my opinion, even though it's still massively frustrating!
I think it's too early to judge him on the scale of the promises he's made. He wants to be a billion $ company, but I don't think he said he'd deliver that by now. I do believe he can.do it though.
I think it's too early to judge him on the scale of the promises he's made. He wants to be a billion $ company, but I don't think he said he'd deliver that by now. I do believe he can.do it though.
Although of course without SN we wouldn't be here, I do see an absolutely massive difference in his approach to leading the company and where the company is from a fundamental point of view, which is really what was being talked about.
SN delivered dilution after dilution after dilution along with extremely sparse and misleading comms. Although we await final results of this current campaign we are for the first time close to field development, we know the initial flows and Zaza has at least managed to stop that cycle of dilution that was needed just to keep the lights on. That alone sets him apart. There are other things but I am not going to waste my time listing them, as if avoiding that monthly deficit isn't recognised as an achievement then perhaps some people just aren't ready to appreciate the changes here. I've held a few dog shares in my time thanks to my adventures with AIM companies. FRR used to be one, but I truly believe it's not anymore, and although we probably now face our greatest risk I appreciate the work of Zaza and how he has changed the company for the better.
I think the extended well tests will complete, totally coincidently, after the outrider situation is closed out, be that an out of court settlement or after an in court battle. I expect this is the reason for the share price decline as well. The traders have no doubt seen they have time and an opportunity to play the share price down through the descending channel again. The drop in oil price obviously helps too. Bad news for non traders but perhaps an opportunity to throw a little more cash in here for umpteenth time!
Read the messages here from before your post Kelley. It sounds like Frontera are forcing Hope to attend court.
Read the messages here from before your post Kelley. It sounds like Frontera are forcing Hope to attend court.
Yes Arsenal. Negotiations are still on-going, so we have something that at the very least can not only get the attention of 2 majors but also keep their attention. With that in mind I believe we can safely assume there will be no nasty surprises when the flow rates eventually are released. Whether we have to take a slower route to field development (and a higher share price) and fund it as planned by the hedgefund, or whether one or two of the majors fast track field development remains to be seen. Medium to long term is surely looking great now though. Of course if I had a choice I'd love for this to come good sooner. I've done enough time here and think I've earnt my parole! As usual, we just need a little more patience...
Going back a fair few years to the SN days, when Frontera would not communicate, wrote confusing RNSs, went silent on things they said they were going to do and generally treated their private investor base very badly, people would moan and you used to say well we knew what Frontera were like before we invested. I did try to point out that wasn't fair as going back several years Frontera were actually great communicators. Anyway, i digress, kind of, now Frontera are in a better place fundametally, are more communicative again and they have opened channels of communication with private share holders and the market in general like never before, you seem to be more unhappy with them. I can't figure you out one bit, but it really does seem like you were happier when Frontera were in a several year downtrend and we were treated like mushrooms!
Way too much being read into today's tweet, from the over excited to the overly concerned people.
I reckon the BOD are reading this forum and having a right laugh at all the speculation.