Member Info for Phil_2018

Sounds like its just the way Zaza always behaves and what helped get FRR in such a state by not paying anyone. He expects everyone to work for nothing apart from him. That's the only way he sees to getting rich, just the way his mind operated I guess. He's probably got the money but doesn't want to waste it on a court case he will lose. He'll probably get new counsel to represent him for the final court case and not pay them either. Just a question of him finding someone stupid enough who doesn't do due diligence into how he operates.

They must have something reasonably decent oil an/or gas Arsenal, otherwise no point having all the fighting over it that there has been. Possibly it may not be as much as originally thought or more work fracking to get it out than originally thought but end of the day there must be something worthy enough there or everyone would go home and call it a day. My guess is that SN probably has a pretty good idea of the situation as to what we have there. He isn't going home yet so there must be something worth carrying on for apart from winning arguments in court lol.

My guess is that the dispute over who owns what is holding investment up. I'm just hoping SN has got investment agreed in principle and ready to go as soon as we win against Zaza next year as we should. When is the final court date penned in over the ownership issue in 2022? It's that date we've got to be looking at in my opinion before we're likely to get much sign of hope I'm thinking.

So where are we up to on this one? I mean apart from up to are necks in s**t. I'm guessing all of the court cases are coming to ahead in 2022, early part of 2022 was the impression I got, including he issue with Zaza. Have we heard of anything much happening on the ground? Last I looked on here there was some talk that media articles were suggesting the Georgian Government were somewhat favourable to us over the Zaza situation. Has anything much been happening on the ground with the oil & gas? Are we back in control of the area and working it? Or all frozen pending these court cases with more time wasted?

I know that SN said we had an investor who was investing £100 million in Frontera in the court case info against Zaza. If so can't that money help sort a lot of the mess out and move forward? Europe is now crying out for gas, we apparently have plenty below ground but unable to fulfill the supply or apparently even get it pumped up. Seems like a lot of messing about and losing out while we could be winners if FRR got their act together.

I was hoping SN would push things along fast and get problems sorted quickly but now I am not sure if much is happening at all just more waiting time.

If Zaza hadn't tried it on to play a fast one we (including him) would all likely be a lot richer by now. An investor would have been found, investment made, field being a lot more fully developed and a relisting. As it is we now just have a load more ridiculous court cases with not a lot happening or at least not compared to where we could have been and Zaza thinking he will be able to keep the ill gotten money his run off with. Stupidity! They'll track it all down and get it back, the only thing he is doing is holding up progress to us all getting a decent payout from this venture, including himself with money that he will be allowed to keep assuming he is not fined which I think he should be if he doesn't come clean on all of it and repay what he's taken. Just absolutely silky to have pointless carry on separating everyone from a happy outcome on this one I think, that includes the workers and people of Georgia too I think.

Much appreciate all of the info you bring Looed. What annoys me with this share is Zaza's actions. It looks like his carry on is going to take the company 2 years up to 2022 to sort out his wrongdoing, hopefully not longer, to put the company back in track. Point is if Zaza had worked for FRR interests after we swayed them with the arbitration by political lobbying then by now we would all likely be sitting on a company with something going for it. All he's done is last out a problem company by creating more problems. In theory he will have all the money he wrongfully gained taken from him and any family members and then subsequent punishment. Had he just played it straight and not been opportunist then he including ourselves could be sat in a company coming to be worth a lot of money by now it would be as easy as that. I'm just hoping that SN can finally get this sorted all out, clear all the road blocks of court cases and get this all straightened out.

Apparently I saw that SN was saying in one off the recent appeal court cases against ZM that they have a $100m investment. I can only hope that is fully sounded out and if so then hopefully there may be cause for hope.

My guess would be that Frontera are taking the Georgian Government Registry lot to task for the f up and make them correct their mistake and register the asset as it should have been in FRR's name not GC. As I recall the Georgian Government Registry lot refused to acknowledge their mistake when Frontera wrote to them on it and instead replied blaming FRR.

I can't see that Outrider believe nothing is there Starage. Last Autumn they were trying to press the GG for the license to be given directly to them, no point in doing that if they believe nothing is there. Think there was some court case brought against Hope for that, but not sure if there was really any legal follow through. There must be something there for ZM to smash and grab. It could be possible they are as uncertain as anyone else what is there. My guess though working from the above points is that there is some other reason they aren't chasing the $46 million. In the past it's been speculated here that they would get the license or data if FRR went into liquidation so possibly that I guess or something else.

Kipperman, they could have then said there was something in Dino if they were lying. Zaza wouldn't have pulled his whole GC smash & grab stunt if there was nothing there plus Hope hasn't dropped any of his court cases, YA, etc neither. Add to that, that SN is willing to fund the court case against ZM out of his own pocket so there must be something worthwhile there. We have seen oil contamination photos so there is oil there. My guess is that ZM filled up with as much as he could take and his goons didn't care about the finer points of pumping before they sped off likely having little know how off how it all works. So the place being effectively ransacked is probably the cause of any significantly reduced flow rates. If there wasn't much there to take them Hope etc would have come to the bargaining table by now. The figures quoted in the recent court case with ZM weren't bad for monthly income while it was coming it as I vaguely recall, think it was over a million dollars a month? So likely some go still left in the field but as Mole rightly says a long and hard journey now back to anywhere near straightened out. My big concern is still Hope & YA, mostly Hope, those court cases are coming up this winter and at the moment we seem sitting ducks as we owe them money and the field is not producing at present hence why I say they should try a SM rather than risk it all in court.

Indeed Mole there is a lot of hard work and no doubt trouble to get back to where we need to be and as you rightly say time is short. I agree too that I wouldn't like being associated with the way the workers have been treated. If that had been news to me at the time I chose to invest I wouldn't.

With all the problems Frontera now faces I do wonder if it might be in everyone's best interests for SN to sound out some SM's on what they might be willing to pay. Now I know some may think they may not be interested, and they may not, but equally a few might be. To a SM all these problems that are a big deal to Frontera can be solved relatively quickly and easily by a SM, they have deep pockets and that can solve many problems, it can sort out the defaulted debt, it can pay off the workers, lawyers, etc, it can provide for good legal representation in the remaining legal cases, and it can develop the oil & gas field. As shareholders we will get our investment returned with hopefully some profit. Essentially there was proved up to be a lot of oil & gas there and my guess is a SM has the clout to work it until they get it's full potential out. The value of the field is the main draw to them here all the rest is stuff they can easily enough deal with.

I agree Freeatlast, SN needs to get organised and get people out there and the field back up and running and money flowing in again. It shouldn't be left as the sorry state of affairs it now is in he needs to show the people of Georgia a real operation is going on there.

He also should pay the sacked workers what they were due. They had done the work so should be paid even if it comes out of SN's pocket in the form of a loan to the company or whatever. He needs to show the Georgian people that was ZM's doing not his. Those workers have suffered great hardship and shouldn't be made to suffer so due to ZM's callousness in not paying them what they are owed.

To my mind it looks like a lot of this non payment was ZM trying to wreak the company so he could walk off unchallenged by it to GC. This needs to be reversed to avoid the company falling foul of greater financial penalties in the near future. The fields needs to be sorted out and producing again so why doesn't he pay the sacked workers what they were owed and maybe if they are willing hire them again. They know the field and apparently did the job well enough and need the money. It's a sound enough deal, it's cheaper for us than a western team and good money for them. It's ZM who was at fault here they shouldn't be punished they just worked hard for their money not tried to smash and grab it. On top of that the operation could be overseen by a decent reliable westerner with some experience in the field as a manager not a director with frequent check ups by the company to see all is being run well. This company really needs to get up and running again now, leaving things idle would leave us like a sitting duck, it needs oil revenue coming back in and investment raised if necessary to get things moving again.

So basically the employees have been treated in a very nasty manner and are suffering terrible hardships and some dying possibly as a result by Zaza etc who has plenty and only seems to care about himself. Meanwhile fearing he may not still have enough he plunders FRR oil fields of oil and runs off with it not caring what a state the oil fields are left in.

On top of that like the Employees we are left wondering where all the oil revenue has gone before GC invited themselves in. The employees weren't being paid and should off, any competent manager would see to that it's basic. I don't buy it that it mostly went on lobbying fees either. Millions of dollars worth of oil was being pumped out and yet the lobbying only amounted to a few hundred thousand dollars. No one else was being paid, not Hope, YA, workers, lawyers, etc, etc, and we don't have any accounts made public for this period either conveniently it seems. So where has all the money gone??? My suspicions tell me that Zaza may be the person to look to for the answer to that one as well.

As guessed earlier though nothing is currently happening for FRR on the oil field, SN should be making enquiries with people to get the operation up and running again. It's imperative that we get money in not just let it sit idle out there.

I agree Contra, I hear nothing other than complaining on hear about ii but they still stay with them, why? I'm with Halifax sharedealing and have had no problems other than they were wiped once but then restored not long after and the whole thing sorted out hopefully permanently. Halifax are a whole lot cheaper than ii as I understand it, even free depending on situation with regard to yearly account charges yet for some perculiar reason people here what to suffer all the hassle of being with ii and being charged more, doesn't make sense to me, its kind of like being asked to be beat up lol.

Anyway, we're bogged down with court cases and a company that is financially clapped out so hardly worth getting worked up over. Theoretically if you have bought shares then records will exist if it whether it's showing up in your account or not. We need to see first if FRR will ever make a go of it and at the moment as things stand that is looking a forlorn hope.

They need extensions in all the cases to deal with replying in all the other cases. They all have so many cases its all they spend their time doing. They would rather spend all their time in court fighting each other than working on FRR so we all get rich together.

Thanks Starage, though I would have thought Frontera could email/connect with some subcontract company and get it back online out there, even see if they could get some of there competitors in on a short term basis to help out. Seems silly to me to leave the field in that state or even GC take advantage. I kind of read into the same on that footage though that's it's all been left to deteriorate. ZM may think he is taking advantage but everyone will be after him and in the end he'll lose out. I just hope that SN can move enough on this one to sort it out. If ZM wasn't being such a dick we would all be doing well by now no further court cases needed.

Arsenal, I'm thinking even though a 6-7 year license or whatever might not be all that perfect for a SM it would theoretically get a SM's foot in the door. If there really is all the oil & gas that was apparently proved up there then even a 6-7 year license could be worth a SM's while. After that they could go for an extension themselves. With all the clout a SM has I reckon they would easily get it after all who better to develop a field than a SM, they have deep pockets and excellent expertise & resources to draw upon. Even if they didn't get an extension they could soon quickly develop that field I reckon and still walk away with a good profit. I just don't see the point of risking a court case with Hope unless we've got some absolutely damning evidence otherwise I think there is a high chance it will go his way.

That's not great news that it's going to take so long, much appreciate the info though Starage. My fear is that won't leave SN much room to sort out FRR's many problems such as Hope/Outrider and YA, etc. That and it may hinder investment & buy in/out. opportunities. I'm assuming FRR temporarily have the asset & can pump oil/get revenue from it? How much scope does SN have to move on all of this?

Just wondering if anyone has heard of any present activity happening on this share. Last I heard Zaza was going to appeal in the appeal and the final court showdown in the US on the asset, etc would be happening at some point.

In the meantime my concern is that the Hope/Outrider court cases are coming up, August onwards is it? YA, etc I'm guessing also. What is the state of play here? The way I see it is we have defaulted on loans and hence we are likely to lose out to them should it go it's full course and that is unlikely to be good news to us shareholders. I don't personally out much faith in Zaza's handling of the situation given his more recent activity. He seems to enjoy trying to defend pointless positions in court, I would rather we get investment in, buy in/out and settle up and get to business. All that's happened with all that carry in is time's been wasted. Better probably to sell up than let Hope, YA, etc take it all I think.

Think FRR needs to really a grip with their operation now. From the vid it's doesn't look like anything is happening there like it's all been abandoned. SN needs to get people in to get it all started up again if so. He also needs to get the accounts sorted and make sure all monies are accounted for. Seems strange to me that FRR was making millions out of oil sales but never had money to pay anyone. He needs to make sure money hasn't been siphoned off somewhere. To my mind he also needs to determine the way forward in terms of whether he can realistically get any proper investment in or can sell it off to a SM for decent money. The value of what is in the ground maybe the biggest card to play at the end of the day.

Think I'm getting the picture now, it looks to me from the video that the guy is showing that there is just one new well, Frontera's and that had to be shut off due to no one manning it as no one was being paid. The old rusty stuff is likely ex-soviet stuff along with one or two other items maybe but the rest is Frontera's but is all just sat there. My guess is that workers weren't being paid so left, the virus then happened and SN couldn't organise things from where he was/took eye off the ball meanwhile Zaza tried on his GC stunt. To my mind SN should have had more tighter grip on organising things when they failed he seems to have been entirely not present. Even from the US things can be organised via Email etc to get people in not just leave it sat there. I wonder in this front whether Zaza was feeding him misinformation or if he was just not on the ball. I fear Zaza may have been running FRR into the ground so he could take the asset leaving FRR to go bust hence avoiding any comeback from FRR. As it is we are still around at least at the moment but the fact that SN is financing the court process to take back the asset out of his own pocket apparently suggests to me that Frontera is in no state to do so. Yes of course he should do but my thoughts are if Frontera's finances were in a fit state to do so odds are he would use them and then claim the costs back of Zaza. My guess at present is the asset is the only thing going for FRR. I know revenue from oil was mentioned in the court case but I'm not sure if anything is being brought in at present judging by the pictures in the video.

I'm hoping that's the old Soviet setup they are showing as otherwise if its Frontera's base of operations it's not giving me cause for optimism. Looks like everyone has f'ed off leaving the place derelict with olive type of tree to grow around rusty old drilling rigs.

Personally I am now feeling that Zaza has really mismanaged the company during his time as Director only managing to move the asset out of Hope's hands. It doesn't look like he has done anything to develop the field since we delisted or sort out the company's woes. Where has the money gone? He didn't pay YA as should have been leaving another debt default mess to clear up, he didn't get new proper investment in, whatever happened to the Baker Hughes deal we don't know, workers were not paid as they should have been and to top it's all he tried to walk off with the asset. One big mistake employing him to run the company it seems.