Member Info for OLADAPO007

It is more valuable when drilled and proven!

Not looking good for hope then I guess!

Looks like the expensive firm used by the GG are basically giving them dodgy advice or that the GG itself is just a pack of bent folks.

Looks like the article said something about improved production in March, so meaning our guys are already delivering silently.

Chloroquine tests are being discontinued by the swedes!

$580m down the drain! Really sad that this sort of thing should be happening. We all invested in a dream but the prevalent skulduggery in our host country would ensure that we won't get the sort of return we expect from the investment. The arbitration worries me sick in terms of what sort of result it would bring. If good it make loads of folks who don't currently own their homes homeowners and all other great things we want in life would come to us because we took a chance on a poor country in order to benefit us and them. Shame on the dream party that they have to do this sort of thing. Dream party did I hear you say? These lot are simply dream killers!

Not looking great here but who knows, we might just get lucky!

The company is probably gone and has most likely lost Block12 to the Georgian Government in the arbitration if I am right. It has been a really unpleasant experience that a company given so much cash ie $500m could end up in such a bad state. When this sort of thing happens it is the small shareholders who bear the brunt of silly acts by the management. Sad that the company having driven the bus in to the ditch is refusing to let the surviving passengers out ie by refusing to let folks know the true story. The arbitration result is well known by the directors and only God knows why they are keeping quiet.

Hey the other time, we were told on FRR's webssite that we have 30tcf in reserve + lots of oil probably about 14 billion barrels. As we currently face some sort of financial issue, can't we do a form of reserves based lending to ease our woes if we really have such reserves. It wasn't called resources from my recollection it said reserves!

Gipps,
Any chance you could let me know where you got the evidence of oil and gas being produced? Also if the production is taking place as you have mentioned, why are we owing lawyers? Why is Nick running around to avoid summons?

If case law and the laws of California are irrelevant to Seeborg, then Hope wins. If the laws are followed then FRR wins.

If case law and the laws of California are irrelevant to Seeborg then Hope wins. If the laws are followed then FRR wins.

:)

The MND orchestration is another crafty Hope Shenanigan. How does a human sit in their house just to plan the mega downfall of others? Once this is all over and goes against Hope, I won't rule out him taking his shrink to court for substantial damages.

Allowing Directors to act in the interests of Creditors is a real stupid situation if such were allowed because what would happen is what Hope has been trying to do and such an act would cause irreparable damage to the shareholders as Hope is trying to do to us now. Kawaley imho was incompetent and did well to later reverse himself . Going to another court to appeal his error would have cost money and taken up time. Such carelessness is just annoying given what would have happened had this company's board not decided to go to Cali for further resolution. This is a case that has actually enlightened me and a few others in a big way for which I am grateful the price of which is my investment in FRR. I do hope we win this case and hope Hope gets fined the max amount possible. He must have been raised in the Trump and JR Ewing stables due to the creative wickedness he has exhibited throughout all this nonsense.

Freeatlast, looks like that argument won't hold because the law of California says '' No director should be seen as protecting the interest of a creditor until/unless the company is insolvent''. As a director the interest of the company supersedes his . The Californian law nails him in that area as it seems to be saying that as long as you are a director it is the interests of the company you should be looking out for. Stopping the company from taking loans in order to progress the growth of the company can't be in the interests of the company. The company is allowed loans of up to $200m he didn't even allow them to get anywhere near that. That power of veto it appears is what would finally nail him as he basically misused it coupled with what the law of California says regarding what a director can't do for a creditor. he basically owes no fiduciary duty to the creditors of which he is one.

He said his "business judgement'' led him to disallow it.

Jester, what if it so happens that one party in a contract did everything possible to ensure that the other party couldn't carry out their own part of the deal?

Very well thought of piece by SB. Hope basically by his actions never gave the company a chance to grow. His conflict of interest here ha done the company no good. If you are a director of company the fiduciary duties you are entrusted with must be well carried out. You are like the father of a kid and as things go fathers don't look for all ways of killing their kids. Hope basically looked for all ways of killing FRR. The MND story should blow the mind of the jury no end and other sorts of stunts he pulled.

Let's see how the case goes, I see a lot of injustice in the whole thing which I expect the jury to deal with effectively. A director's duty is towards the company and its growth and progress. Nothing probably wrong with the veto power in that in the right hands it would only be used to disallow frivolous loans and not ones that should help the company progress .Hope abused that power and that should be easy to prove.

I agree with you. But then he was trying to grab the assets without a court order. Two wrongs definitely do not make a right , the whole situation is really confusing. There are lawyers on both sides , I doubt one would be advising their client to break the law. FRR are probably working on the premise that they would leave enough assets in one of the companies for him to clear the debt owed him, but how that would play out is what I don't understand.