Member Info for Phil_2018

Hope's back is to the wall, earlier info showed his Outrider setup losing a lot of money in the other 'investments' i.e loans he had made to other companies (separate & nothing to do with FRR). Yet at the same time he needs to keep pressure on FRR and extract any money he can to keep ticking over in the meantime to avoid going bust. Any bit of money Hope/Outrider gets keeps him going a bit longer.

Potentially a deal could mean Hope getting a sizable amount of equity in a debt for equity swap then that being watered down along with our shares with a new investor coming in. That would get rid of the debt, get the company the money it needed to develop the field and avoid Hope getting too big a percentage share of the company. So long as money is brought in to develop the field our shares would gain over the dilution in value. Frontera just needs to make sure it can get to a deal with a new investor where they don't take too big a stake. The oil field being worth what it is though would hopefully avoid this.

That all said there are many was FRR could move forward so that is just one way that might be most plausible to my mind, I could be way off track for all I know but that is the type of situation talked off here a lot.

Biggest issue at the moment is that we have not heard anything more since the news that ZM had gone & Dustin was in along with Cornerstone. That was exciting news at the time but we have to remember that ZM went back in August so it's been many months now since. Restructuring can off course take time but my concern is that FRR may have been left to drift again as I would rather have hoped for a deal to be forthcoming by now. So the question is how much longer? I don't think we can wait for months longer as then all these court cases start coming up and my concern is that us Shareholders could lose out as a result of that were to occur.

Well done Oppssi good research. So potentially this might be the finance partner that according to SN, Zaza obstructed. Whoever this was maybe the GG turned it down, Zaza intervened, who knows. Could well be that Zaza thought any incoming finance wanted too big a slice of the pie and they would have been better off waiting out till after the arbitration when a better environment might bring forth a better deal. I think as bad as SN's accusations looked we will probably have to wait and see as potentially there might be good reason that Zaza acted the way he did.

I'm still curious as to how we stand today as to what is happening.

In that case tsbs I don't think they have a case on that one, the court will decide if course but I can't see it getting very far. I mean when the director(s) the in charge but voluntarily choose not to have remuneration buy way if salary but by shares it's really them taking issue with their own call lol.

I reckon odds are a lot of these court cases will end in little to nothing gained by all parties just a lot of spurious allegations being tossed around. Any small wins will probably be offset by paying solicitor fees (when they get paid). Some may lose a bit here or there but I doubt any of them will get the big knock out win they want.

Indeed ODR I agree the fall out between ZM & SN is their fight. Both are claiming the other has done wrong doing. SN seems to be claiming that ZM has done this on a greater scale than ZM had accused him of doing so. They will have to fight it out in court and the court find out if either were up to wrong doing. I do wonder if not taking a salary made either one or both believe they were entitled to extract money from the company in other ways that might have crossed the boundary of a conflict if interest but we shall have to wait to see.

It's now looking like SN might not be as bad as ZM says or it could be the other way around or both. It looks like SN is trying to move the company forward (I hope) and in the right direction (again I hope). I kind of got a feeling feet were being dragged before so who knows maybe ZM had a hand in that. I kind of got the impression he always seemed straight up but these allegations are pretty damning on the face of it that doubt is starting to creep in.

I'm mainly hoping now that some progress can finally be made with this company before it is too late as FRR can't afford just to sit on this asset with nothing happening forever more. Hopefully we will hear of some progress on this by the end of the month, new finance, a JV, buy in/out etc as I think that is the news we are anxious to hear on.

Could the Finance be the Green Finance we heard about before. I don't think it sounds like a SM but just a Financier as Njames states it. As said someone dug up the company of Zaza's son and I recall at the time there was a fear that he was going to run off with FRR, looks like that fear was shared by SN lol.

I don't know it's all a bit difficult to say, it's put in a way to not put ZM in a good light but that is the point of it in a way. Could be a lot of talking up off what may amount to fairly mundane points, more about grievances & grudges winding it all up into something bigger than it truely is. Many of the points sound bad and may be for all I know but they may also be straight up enough actions just twisted to sound bad. So until we hear otherwise we'll just have to wait and see. I personally believe if Zaza didn't take a salary it was because he chose not to, he was CEO after all, so can't then go back and claim what he chose not to take. The company wouldn't have had the sort of money to pay him anyway lol.

It's kind of why I wonder if we don't get some decent news soon if we should see what if any sort of internal action a large group of shareholders may be able to wield to find out and get a grip on what is going on with Frontera.

My concern also WHamboy. I wouldn't have thought it too hard to find an investor to be interested in a major oil & gas field. At the moment surely on of the more safer industries to be invested in. Getting the right deal is of course important but I would have thought they would have a fair choice out there. If nothing crops up in the way of decent news by the end of February I would wonder what if anything they are doing. My concern is that despite successes of keeping the asset out of the hands of Hope/Outrider, the GG, etc the asset remains the same few oil wells in the ground as they had a couple of years or so ago when they know that there is a lot more down there.

Indeed, I am starting to wonder though if we might have jumped the gun over a deal happening. Possibly the extra time in the court timings might have just been to see if they could reach a deal or some other reason. I'm personally starting to think if nothing comes forward by the end of February whether shareholders should look at whether any other recourses to action exist to us. Not necessarily court action as that is lengthy and very costly and unless certain of a case it could go against us. I wonder though whether a majority of shareholders could take action to get back some kind of communication etc on how the company is doing and where it is going along with possibly some say in where it is going. Am I right in believing that now Frontera companies have been wound up in the Caymans that FRR are now based in the US so runs under US corporate law rather than Cayman corporate law. Any chance US corporate law may allow for some kind of shareholder action so that shareholders can get a better idea as to what is happening within their company? As I believe in the past it was that the Caymans didn't allow for much recourse for shareholders here.

I mean earlier on I could understand why they wanted radio silence to move the asset to keep it out of the hands of Hope/Outrider, now though I am getting concerned that the company may not be being driven forward enough to a deal. I hope I'm wrong in that but we've been on the waiting game a long time now. I personally am not keen on all these court actions which to me is now getting bro the point where it's getting silly and potentially getting in the way of everyone getting together to get on with working to get some wealth out of this asset so we can all take our fair share. Any others have any thoughts on this?

I personally don't think Dustin would be in as a Director if he didn't think the oil & gas could be got at and big money made. To date we know he was there when the drilling & fracking was being done and oil successfully pump to the surface as a result. The fact that he is here now says to me that a). He knows that there is big wealth and a worthwhile cause here, and b). the company probably isn't going to be sold off but some kind off ongoing concern as otherwise it would be a very short directorship and so not worthwhile being listed as one.

We're into February now so hopefully we'll hear soon even if the news isn't as good as hoped for on the investor side.

They may not bother with a name change if it were to cause an issue with the license. Probably not the biggest issue here.

If the BOD are now willing to communicate more and in due course that's a positive. Not sure why but I always tended to get the impression that the radio silence was more Zaza's idea, could be wrong or just what was needed at the time. Now it seems that something may be brewing to come out in February due to the change in court date. Possibly we might surmise that might be something that shareholders would have to be told about anyway hence the slight change in communication.

If I recall rightly it was Zaza that was thought to want to develop the field rather than go for a buyout from a SM. I wonder if SN favoured a different approach to Zaza possibly to a buy out to cash in quicker possibly and that added to friction aside from the supposed money dispute. Could be wrong but I think SN is getting on in years is he? In which case he probably would prefer a quick payday. My impression of Zaza was that he was perhaps playing the longer game and possibly the BOD got frustrated with this, shareholders here possibly also. Again just conjecture here but its just a bit of a feeling I've had over time on it all.

Not sure whether Zaza's holding amounts to him having any more sway than the rest of us even though more of a significant holding than most of us here. That's the problem with having a company where the shareholders seem limited in what they can do or rather not do which apparently includes not being able to call/hold an EGM.

I think you've likely got it bang on Njames. Zaza has always come across as an honest and sincere guy to me when I've seen him being interviewed on the various videos. It was one of the reasons I invested in this share. I don't see him no longer being in the company as a positive though based on what we know. My guess is though that none of this will hold up the finishing off with the restructuring and I assume forthcoming deal. We'll just have to see what that consists off and hope SN as a shareholder is on the same page as us and won't be able to try anything on.

I personally think there are big boys in the US waiting in the wings behind closed doors wanting in now that resources have been proved up, arbitration got through and the GG now playing ball (assumingly). They will know that there is big money there now and Frontera also needs big investment. So think off that Bill White type of guy, those sort of powerful political/investor types. Whether Zaza needed to be got out the way for that reason or some other reason who knows.

Perhaps one of them could step forward and explain it lol.

I should probably add I tend to believe Zaza's statement of events. He's always came across as a straight up guy (at least as far as possible given whatever situation). SN I have my doubts, not just this situation but previously when he was in charge of FRR. That said it looks like we are in this one with SN etc like it or not and will just have to see how they go with it I guess.

My only thought is WHamboy that SN is aligning the company with big US interests as was originally intended to be the case (why Frontera came into existence). Cornerstone signifies that so does the US gov NATO moves and economic interests. There's big US investors in the US with deep pockets. Frontera needs big investment at this stage, the only concern is how this all affects us. I don't know why Zaza was/had to be gotten out of the way. Whether because his vision of the way forward was different, not fast moving enough, not part of the US gang, who knows?

I guess we are still in the situation of waiting to see what goes down on the completion of the restructuring presumably before the end of February if not largely already. I guess we at East now know that SN etc are leading the restructuring and Zaza is not going to pop up somewhere at the helm of a new restructured company.

I almost feel like saying well it's time to go then lol.

So ZM isn't restructuring the company but really has been turfed out. I'm guessing that the board would have had a vote to remove him. Hence I assume after arbitration & the GG backing down he had outlived his usefulness and SN etc saw the way forward differently to ZM. I'm guessing ZM has no way back in so is sueing on what he sees as shoddy practices to either use as leverage to get back in or instead of no longer being a director. Of course the 1 million plus claim is of course similar to his investment.

Despite the ridiculousness of another court case and against the guy who many of us we were hoping to see us through this I guess it could still be said that they are fighting over something. There wouldn't be any point SN going on with Dustin, Cornerstone, etc if the company had no value in it. To me it looks like SN may be trying to get back control of the company and in with his US chums.

I personally think FRR is better with Zaza in it he seems a genuine guy to me but then I don't know all what's been going on. From the summary of the court docs I'm not sure whether SN etc were being dodgy or just were manoeuvring as they saw a different way forward for the company.

In any case it looks like SN has moved Cornerstone who he was dealing with then into a role within the company. So I guess we'll have to see how it goes from here. Any thoughts?

Starts off about Outrider's business goings on in Kazakhstan and goes on about that for a bit. Seems Outrider are causing a pain in the arse for other companies. Later on it talks about Frontera, some interesting back story, a lot of what we already know. It states several things about Frontera but I don't get the impression any of it is from fact but more conjecture. Don't think overall it tells us anything new and not sure the writer is up to date on the exact specifics with FRR.

I doubt a debt for equity swap would suit FRR to pay off Outrider unless it had no choice or was based on a new valuation of the company with all the now proved up oil & gas reserves taken into account. Other than that as it's a loan if FRR an get finance elsewhere it would be better just to pay the Outrider loan off. Guess we'll have to just see what comes forth. Zaza back last year said about returning Outriders investment to them, that could mean anything but likely means paying off their loan. My thoughts are as a major shareholder Zaza still has a say in what is going on here. Perhaps we'll find out later this month or early next month.

I'm doubting now whether there will be a new entity as such or if the existing entity will be the new entity in terms of people coming and going. Doesn't seem much point to be there being a new group of companies formed when there are already ones existing. Main thing I guess is to get the right expertise on board and get the finances sorted out. Possibly it might be put into a new form that we will have to vote on, remains to be seen I guess.

I don't think there will be any other choice other than to vote for it, if it results in needing a vote. The communication received by some suggested that something will be happening where we will at least get to hear for once it sounds. I don't think it will result in a lot worse position for shareholders, Zaza & SN as shareholders will have their shares diluted down also so they will be as mindful of doing the right deal. I still personally think any dilution down will be offset by investment into the company (possible stock consolidation also) so the new company will be a different beast to the old one as far as finances are concerned.

The way I see it before the shares were worth very little as the company had no money and was it debt. If the restructuring brings in new finance as is expected in a restructure then it would be a company presumably without debt and some decent money. In that case the company would be worth more than before. The situation with the oil & gas only raised the share price a bit at the end as it was probably obvious that FRR lacked the finance to make much headway with a big money input.

I think at its most basic FRR will just get onboard a commercial investor on commercial terms to replace Outrider debt. Then they could strike a Baker Hughes type of deal to cut a company in for the profit of developing the oil field. My guess is that is one way any dilution of shares could be avoided but cutting another company in for a share of the profits would likely diminish the potential value of the company of course. Other thought is that again finance may be replaced as a tidying up exercise for a SM to take over but I think in order to get decent value from a buyout it's likely better to have a full on operation in progress rather than a company restricted by having little finance.

Indeed, I think the company would have to be in a lot better shape for the GG to give it a longer licence and hence the restructuring. In all fairness there wouldn't be a lot of point giving a longer license to a company that was so indebted that it had no real chance of doing much with it. My guess is that a longer license will be granted set against the amount of investment a company can show it will put in. Really have to wait and see now as to what this restructuring consists off on the financial front.

Good news on this Dustin guy returning and FRR restructuring so it seems :)

I not so sure of a massive dilution this time as JS discussed. For one I don't think Zaza would be happy to walk away with 10 percent of previous share price worth. I also think it is more tricky to calculate now. Now we have proven up reserves that are massive. My view is the previous share price before delisting took account off that but also took account of the precarious nature of the company, loan debt, lacking in capital to invest in the oil & gas field, arbitration, etc. So the fact that the share price didn't exactly go through the roof suggests to me that the market had already factored in that a lot more money would be needed to be brought on board for FRR to tap into the oil & gas proper. That or someone would have to come in and develop the oil & gas in a big way and they would take a share, such as the Baker Hughes agreement but full on. The other scenario could have been that a SM would buy in or buy out FRR and shareholders would get a payday based in the value of the field minus the clapped out state that FRR were in. Apparently it's been said that Zaza was more in favour of pushing ahead with field development itself as the best way for investors to gain value out off the field.

I would have thought then as such the value of the company at delisting already had taken into account the need to gain further finance, relinquish a cut in the profit from the wells, etc in order to properly tap into the wells. That the company was lacking in funds too much to develop the field to the size needed without it taking forever and investors losing out instead by the field not being utilised in anywhere near as quick a way to tap into the full potential of the field and the massive reserves there within.

So my thought is whatever happens the share value this time will be offset against the value of the massive oil & gas finds and the ability to tap into that with new investment. That is something that was not present back before. I personally think that the best way if possible would be to gain a new investor in the form of an established lender to pay off Hope, YA, etc and then developed the oil & gas field. It was the case that Green Finance was apparently bring lined up for such a situation but Hope/Outrider etc made it too difficult at that time. Odds are I reckon that they may do the same approach again but have a clearer way ahead to do it this time. Hence while I could be wrong I don't think there will be a big dilution of the value of the shares this time.

I noticed talk of this Dustin guy a couple of years or so ago. He apparently really knows his stuff and if he knows that there is real big value there and is confident enough to be brought on as Director then that is supposedly good stuff. Him being there will be a very good signal to investors of the potential in FRR and will give them the confidence to invest. As it now looks that we are at the