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I don't really understand the discovery. By the time Frontera get discovery, what's to stop Outrider/Hope just covering their tracks in the meamtime? They've known for a long time already what Frontera are after.
I guess to them it's just business. If this all goes terribly wrong we need to think in the same way by starting a class action for withholding crucial info about the loan notes and I'm sure other things. For now though I guess we wait and see what happens with the court case, and hope that even if they do win that Frontera still have the share holders best interests at heart.
I can answer my own question now, Taylor English will represent us in the fid breach case. I guess as long as they still do then the the writ from Mourant is noise, especially as it is against Steve and Zaza. Still all to play for, but I do feel less and less optimistic. Perhaps that is due to a mixture of ignorance on my part about how these things can play out but also the position Frontera is in and their extreme silence lol
It sounds like the future of the company rests on the result of the court case. If I am honest, that does not fill me with optimism. Anyone know off the top of their heads who is going to represent us in the next court case?
With you on the fact that the BB had lost the plot though!
DId a google and someone posted that article on interactive investor chat in 2016. They came to the same conclusion then, that Lasmo was taken over in 2001 and the article is old.
Thanks Arsenal. I hope you're right.
Same s... different day. If you believe some on here that will change by the end of summer. Personally, I'm losing the faith. Can't quite let go of the dream though so always check in here to see what's new. It doesn't help that I need this to come good more than ever as I've decided to take redundancy after 17 years in my job, and don't have another lined up. I'm not really a career type either so won't be walking into a well paid job so easily. To be fair I did get offered the new position my job is morphing into after the restructure, so it's my choice. Frontera could help no end if it can come good this year.
Who knows PJ. My guess though is that is the point of this thread. Anyone can come up with anything and nobody knows if it is true. Recently we've had the speculation that operations on the ground have halted thanks to info from an unverified facebook Georgian drilling club, Zeron saying Tim from YJ has had no contact with fromtera for ages coupled with Ziggy saying they had contact only 10 days ago re' fake news about the Moldova tender, and now Zibs sayimg SN is medically retired and that Zaza hasn't been back to the US since delist. What a terrible position for share holders to be in. Completely in the dark and no idea what's true and what isn't. Still, info from the court case documents kind of show that the same could near enough be said even when Frontera were listed and holding investor events!
Indeed, they are still fighting, but the fear that I mention would be along the of what chile said. Are they fighting for us? At the end of all this, will we still own the same proportion of the company as we did prior to the delist, or something close to that. Will they honour and value our investments over the years that have funded a large part of the exploration or will they throw us under the bus. The fight tells us everything and nothing at the moment. The silence that I once accepted as a means to alienate Hope is beginning to speak in volumes though. As others have said, Hope is off the board now, I'm sure Frontera could muster up some communication for their long term investors, even with the Fiduciary case pending. It has been a long seven years holding for me, but these last 7 months have been the worst.
I am beginning to wonder if the NDA was put in place as a convenient way to justify silence at a time they knew it would be advantageous to Frontera to keep things out of the public domain. Frontera will have known the huge risks that the business was facing well in advance and ahead of us, especially seeming as they kept key pieces of information regarding the Outrider Loan notes from us. What I can't figure out is if this is because the majors in talks with us needed the vulture to be removed from what was seemingly the Frontera carcass, prior to a major deal. Or if it is just a convenient coincidence that that the majors were looking and Frontera asked for a year NDA to carry them through what they knew would be troubled times. As time goes on and there has not even been a single word from Zaza since December, my nerves are getting the better of me and I find myself fearing the worst more. I am at a point where I have just about accepted the loss here but can't quite let go whilst we have no real closure. Holding this share has been the worst thing I have ever done, so I hope that the dreams I once had about how this share could change my life for the better are eventually realised. We all deserve it, that is for sure.
My guess is that whilst wheels are in motion behind the scenes, Frontera just aren't going to bother issuing certificates. It wouldn't surprise me to find out at some point in the future that unbeknownst to us, there has already been a consolidation (no surprise), but also some kind of restructure due to SN and Zaza or an unknown entity bailing the company out as the court case costs, YA repayment costs and day to day running costs could not be met by oil and gas sales. I'm feelong negative so will say no news has akways meant bad news
I do hope you're right RR, however, i've been holding for several years though and it was painful before Hope's claimed shenanigans started. Anyone with a good memory will tell you all about the 2 year campaign to get to 5kbopd. Well actually, they wont be able to fell you much.
Hi PJ. If you feel this share is taking it's toll on you perhaps it's time to take the view that the money is more likely to be gone, but be pleasantly surprised if it does come back. This company was painful enough to hold when it was trading, now that it's not and the BOD are in lock down during the court case, which could go on for god knows how long, maybe it's best to try to move on and not let this share get the best of you.
Best Of You https://g.co/kgs/VTASoM
Agreed Arsenal. My layman's take on this is the declaration of solvency is of utmost importance. Until we hear that it has been officially accepted I'm not going to make any assumptions though. Nothing would surprise me anymore with Frontera, so it is best to keep a level head. In fact, I'm beginning to wonder if the greatest surprise for me could be that there was a master plan after all, and that Frontera lose/lost some battles but win the war and finally change my life for the better.
It really is a shame that they haven't reached out to us, even if just to say they will not provide updates until court cases concludes and maybe say they are working hard for the good of the company and us in the meantime.
Further fiduciary breach claims as well, due to Hope still being a board member whilst initiating the liquidation.
Oh okay. I still try to keep up with the posts here but have somehow missed reading it full. So after reading that and seeing the recent positivity on here, I guess people are just of the opinion that they needed Hope of the board and would use any tactic to get him off. What about the bit where it basically says why OMF were fine to not allow funding by another creditor as Frontera were intending transferring asset out of reach of OMF, which was against the loan note agreement with OMF. Cause for concern or do we believe the liquidators are happy with the 5% royalty they have and the declaration of solvency. Or can Hope just come after the rest of what it appears he could be due?
Is on Twitter posted by wshak. Makes Frontera look very very bad. Can only assume they wanted Hope off the board at any cost, or they're just clueless. Christ I hope its not the latter and there was a plan, but I'm really not so sure anymore.
BP will have a large presence in Georgia regardless of the result of the court case. They're already their due to pipelines and are no doubt following the other majors into Georgia now that the energy market is aligned with the EU and they've seen the results from Block and of course our data. They're probably better placed than any other major to work in our block 12, be that with us or without us. However, I don't believe the result of the case will be decided by some dodgy deal between BP, Georgia and the judge. They'll just adjust their plans accordingly based on the result.