Member Info for Madpunter

Mick - The figure used for valuation was only to ease the use of the maths. It is just for illustration.

A share transfer where the shares in the new company, FRUS based upon a valuation with a possible deal could have provoked SH/O. If a debt to equity swop only resulted in him getting shares in FRUS worth just the $35m owed and no chance of selling them prior to the Californian case. If the deal valued Block 12 at $15.7bn (just to ease the maths), then each share in FRR would be worth $1 as there are 15.7bn shares. Then on transfer to the new company, every new share is worth $1 and SH/O gets 35m shares for the $35m debt. Therefore, SH/O would not gain from any deal where Block 12 was sold, but the new share structure if accepted would render the cases in NY and Texas obsolete. Any deal could then proceed without hindrance from the courts. If SH/O doesn't accept the shares and FRR is unable to complete the deal, then it's likely that the companies are struck off and if Block 12 isn't legally transferred, it returns to the GG. Everyone would lose apart from the GG and the SH's of OMF and the SEC could take action against SH for losing them $35m by breaking his fiduciary duties (looks a pretty clear cut case, which could result in a custodial sentence). The debtor's and liquidators in the NY case could also possibly take SH/O to court if they were not paid as a result of SH/O not accepting the deal.

If SH/O doesn't accept the deal of shares in the new company and the deal collapses, this results in everyone losing, except the GG, who would then retain Block 12. Then as a director of OMF, the SH's of OMF, the debtors and liquidators of FRCC and possibly the SEC would likely take SH to court for breaking his fiduciary duties by not accepting the deal, resulting in the loss of an investment worth $35m (this would highly likely result in a custodial sentence IMHO). IMHO, even though he won't like to accept the deal, he has no choice, hence the desperation of the letter to the GG.

regdik - If Block 12 is in a subsidiary company, Frontera Eastern Georgia Corporation, FEGC, to the one the shares are in, Frontera Resources US, FRUS, the BoD wouldn't need a SH vote. After a special dividend the company could then carry on with Moldova and the Californian case.

What if they value the company at a price equivalent to a prospective deal. Then, if a deal has been negotiated for $15.7bn, with15.7bn shares each share would be worth $1. Therefore, SH/O would get 35m shares for the $35m debt. The BoD could then issue new shares in FRUS for existing SH's based upon what they would have been worth on the same deal value. This way SH/O only gets payment for what is owed and doesn't get any bonus from a deal selling Bock 12. The existing shareholders would then get shares in FRUS based upon the worth of their existing shares based upon a share price of 77p (using a seal of $15.7bn as an example)

£12.15 ÷ 15.7 shares = £0.773 (using todays exchange rate of US $1 = £ 0.7738)
http://www.dollars2pounds.com/

1m shares in FRR would then result in 770,000 shares in FRUS. Obviously this example is based upon a deal for Block 12 for $15.7bn and a deal for more or less would give a different number of new shares in FRUS. Zaza could also consolidate the new shares at the same time, hence on a 10 for 1 basis, the new 770,000 shares would then only become 77,000 shares, but their value would remain linked to any deal.
If this scenario is what is taking place, would the brokers chase those who shorted the stock. Alternatively, will the new FRUS float on another exchange. Time for the shorters to start looking at the small print?
If the liquidators in the Caymans and the other debtors accept the same deal of new shares, will SH/O be compelled to accept?

Posted by jackpack on the 27th October :-
PALANTIR
Anybody else besides me read the business section of the sunday times today. BP have been using secretly the services of top secret firm PALANTIR for last 5 years without anybody knowing ( same firm who located osama bin lardin for us government) they have improved north sea oil production by over 10% . If BP are involved with frr wonder if they are working for us and what they could be doing ? It might even answer some of our questions. comments please

Posted by Madpunter on the 27th October :-
Data drilling
https://www.ft.com/content/8ee6cfc6-e825-11e9-a240-3b065ef5fc55

Zaza stated that the majors could reduce CAPEX and increase profit. The 3rd post down in the link below illustrates how this could be possible and the use of the data by Palantir could provide the necessary FDP.

https://www.lse.co.uk/chat/general/commodities-and-mining/frontera-archive-41C7D130-7E51-4344-82E7-83B697F53322.html

Posted by Lubumbashi on the 28th October :-
If Palantir are involved (a very big if), it might explain why the NDA is being so strictly enforced.

Posted by Earsbern on the 28th October :-
I've just been looking at Palantir's website. A bit of wild speculation here on my part - amongst many, many other things, it seems they also help when 'Prosecutors are building stronger cases against insider traders'. Hmmm - well - surely not???

Posted by Dulwichman on the 28th October :-
If BP are still being co operative then this may be helpful
https://www.bloomberg.com/amp/news/articles/2019-10-27/bp-has-been-palantir-shareholder-since-2014-sunday-times-says

Posted by Goit on the 28th October :-
'BP says in the North Sea it is extracting an extra 20,000 barrels a day because of a “digital twin” created by Palantir that enables real-time tweaks to equipment.'
https://www.energy-reporters.com/production/bp-invested-into-cia-linked-software-firm/

Posted by errazel on the 28th October :-
You couldn't make this up - surely.....
CIA pffft
And linked to Atlantic Council......
https://www.atlanticcouncil.org/wp-content/uploads/2019/04/Leveraging_the_National_Technology_Industrial_Base_to_Address_Great-Power_Competition.pdf

https://www.lse.co.uk/chat/general/commodities-and-mining/frontera-archive-41C7D130-7E51-4344-82E7-83B697F53322.html?page=27

Mole - It could that instead of either/or, Zaza wants to do both. Instead of paying off SH/O with cash, they get shares in FRUS, but any special dividend is not until after the Californian case. SH/O would not be able to sell the shares and if/when SH/O loses the Californian case, the money owed is deducted from the special dividend, ensuring payment.

and counting.

https://www.timeanddate.com/countdown/halloween

ODR - Perhaps you should take a look at the post from B - 2 - 0 on the 30th July 2019 :-

frr takes flight
Asset to be transferred to Frr Georgia, Frr Texas holding company, new share capital injected from 3rd party farm in, existing share holders receive shares in Frr us. Other Frr companies liquidated and debts settled. Resolutions passed - it is time to fly after 20 years, get strapped in for take off B20

Thanks Mick and Bezzy.

Earsbern - You might want to try posting 'your posts' on the new topic on General Chat, General.

Ziggy - IMHO the liquidators have not been successful in contacting ZM and SN, hence the previous posts copied below and they're now trying to force ZM and SN to make contact with the courts in the Caymans. Hence, my worry recently about SH's trying to make contact.

Posted by Zeninvestor on the 28th November :-

Thanks, MadP. So an orchestrated blocking tactic. Tim deleting Zaza’s phone number did seem weird. Let’s hope all this chicanery works and we don’t find ourselves outplayed by bigger forces.

Posted by Madpunter on the 28th November :-

Zen - I forgot to add that to the list.

1) ZM and SN are both presumably still unobtainable in Georgia.
2) ZM and SN are both no longer on the Atlantic Council.
3) LB no longer works for FRR.
4)LB is no longer Chair of AmCham's Energy, Mining and Utilities Committee.
5) FRR no longer have legal representation in the arbitration.
6) FRR no longer have legal representation in the Californian case.
7) Tim Thompson no longer acts as PR for FRR through either YJ or Flagstaff and has deleted Zaza's phone number.
8) FRR's website is suspended.
9) FRR has changed their registered address in Texas.

https://www.lse.co.uk/chat/general/commodities-and-mining/frontera-archive-41C7D130-7E51-4344-82E7-83B697F53322.html?page=35

Earsbern - Under normal circumstances that is one hell of a fall. Also, OMF is a vulture fund which also happens to be in a lawsuit where damages might be levied against the fund. Therefore, I wouldn't rule out anything. However, with the drop in the PoO, Madagascar Oil won't be worth as much as previously, and any distressed assets (the type of asset in which the funds invest) are likely to be more distressed in the current economic climate with COVID-19.

ODR1 - It would be worrying for Hope if it means FRR have discovery that not only gets a result in the Californian case, but also results in a criminal case. If FRR fail and run out of money then the Californian case could fold.

ODR1 - Try using General Chat, General and the relevant new topic will be obvious.

I've created a new topic in General Chat about the event on the 31st.

Jonathan - When I first invested my PP, I did a few months research and chose a few funds with Sun Life. They were taken over by Friends Provident and than Axa, plus there were numerous fund manager changes. It was impossible to keep up the same level of research I used at the start, with the constant changes, which is why I moved to a SIPP with HL.

Jonathansxx - Sorry, I don't remember all the relevant information as I was primarily concerned with HL, which I use and which doesn't lend out client's shares.

toatie - There were a lot of posts a while back about costs of dealing when debating about FRR share certificates. The reason for some companies being cheaper was that they loan client's shares to other clients to short, with the fee helping to keep trading costs down. The solvency of companies is also something to consider.

IMHO FRR have been negotiating with the GG and the SM's and ZM has had to be removed after siding with the united opposition. As FRR were negotiating a deal and the elections could be used as leverage, there would soon be no need for a website (if the deal is not obtained, FRR will probably cease to exist). Any comms with SH's could prove detrimental to FRR's success, hence the 'brief', 'off the record' and 'too the point' exchange. Therefore, I do not thank Looed for making contact, especially after the majority were against making contact. The risk was great and may not be over. All for a reward of knowing that FRR is still aligned with the SH's and still has a pulse ( both of which were not in doubt IMHO). However, I do thank Looed for the contact with the website providers, as it backs up my view about a deal being negotiated.