Member Info for Phil_2018

That's a possibility PJOHN, a more positive one that I hope you're correct about. It could be a case that the more finer details are being worked out so the court cases are being put back as a safeguard. The mediation period now officially goes on into February so that would make sense.

I've always seen the court action as a lot of postering by, a last resort perhaps, but ultimately about Zaza & co. Holding off Hope & Outrider while matters get dealt with so he doesn't move in and take the lot.

With both sides agreeing to it I thought earlier on here that it means neither side are all that confident off a win. I think though while that may be true your thought is probably more paramount that it's been put back while the last ends of restructuring are tied up, hopefully. Zaza has always given me the impression he is an able businessman but it's been frustrating to hear of little else but delays and more waiting on this share pretty much all the time, that is when we get news. Hopefully something will come forth on restructuring in the next few days/weeks and we can finally move on hopefully on a positive note for shareholders.

The way I see it if both are asking for it to be put off then neither are that sure of winning in court. My guess is that Hope is/has been very disagreeable in the hope of gaining more than his fair share/what he is due. All the while nothing is happening on the ground and good licence years are rolling by without much being pumped.

I see from the new court timings mediation runs into February, officially. I personally think that if an agreement is not close FRR would be better off trying to find a large investor or a SM to bring on board and just pay Hope off plus develop the field with them. There must be interest out there considering the field is apparently worth billions, 15 billion was it? Seems silly to carry on in a circus act and while away the time thereby passing over on success.

The message from the company before Christmas was that restructuring change was occurring. I'm hoping that there is some good concrete stuff happening and not a lot of waiting around on Hope & Outrider. Really I think in the next few weeks, by end of February court mediation date they should be try and get it all sorted out as clearly no one is benefitting from the current mess it is all in.

Indeed, good to end on a Christmas Eve with a potentially more positive note to what looked otherwise. Hopefully a Happy Christmas and New Year to us all! :)

Why would they bs over the email address???

That's very positive indeed Aurora if it's from Frontera and they say they are undergoing a period off 'constructive change' and will be communicating with you about the company's progress. If that is around today's date or at least this month after the 3rd Dec then I doubt they would be saying that if it's all going south. Not unless they are not being sincere but I doubt that they would do that.

One question in all of this is why didn't Hope move in sooner after the Arb was won? Kind of makes me think that there is more going on here than a purely game over situation for me.

Sorry Starage, missed that, thank you Ziggy in that case :)

Yes a good summary Mole, thanks to Starage also for digging up the info. At least now we have a better idea of what is going on. Are we sure this is Hope/Outrider trying to pick off the assets without Frontera losing the licence and not it happening as part of a restructure? I think Zaza said that the Caymen companies would be liquidated as part of the restructuring process though some wondered if that was just down to translation or possibly not quite correct term used. I think at the time there was speculation if parts of the group would be set up/registered elsewhere for this restructuring, i.e US, UK, Georgia, etc. So it's looking like it's either we get liquidated and sold off or the assets are moved elsewhere under restructuring and all is ok. Zaza has apparently been away restructuring since September? October? So probably a good 2 months at it at least so that's a fair while to move the stuff. Zaza has come across as a capable guy to me in the past so my guess is that he may be a step or two ahead of Hope in all of this. Hopefully we'll see the state of play soon one way or the other on all of this.

Yeah, I can't see him investing in that money if he thought FRR was not a runner. The timing of it is important too as you show Plaster, not years but 6 months before delisting and then roughly 1, year previous 1 million invested. My guess is if FRR tanks it he is going to be financially ruined, at least a lot less wealth to what he was. He must of thought Frontera was going to come good at that point even with the underlying situation of Hope/Outrider, YA and the Arbitration starting to simmer away. Plus after years of obstruction from the GG, Zaza still invested in. So I assume despite all the goings on he must be confident of a good outcome to it all and is determined to get there.

Indeed Plaster, I can't see him just walking away with the shareholding he has not unless things have not turned out well on the ground. We have no news that it is any different from previous on that one.

I personally don't think Zaza would have bothered getting the accounts in the Caymans sorted when the Frontera companies were due to be struck off there if FRR didn't have any go left in it.

What we need now is further information on what may be going down here. Ideally for Zaza to make a comment on it to the news media since he doesn't seem to like talking to us lol.

Kind of just had a thought, what if Hope has to do this as routine so that he can follow a claim up elsewhere, if it's down to Restructuring. Zaza said the companies in the Caymans would be liquidated as the company is restructured. We kind of thought at the time it meant that they would be allowed to elapse but of course that might have been too convenient timing. That it didn't align with when Zaza needed them to be liquidated. Just a possible thought.

Thanks Looed, to Earsburn also. That makes sense as would seem silly to employ expensive lawyers in California yet no even have representation here. Assuming of course that it's not as Starage says and they are hoping to claim off Hope while the company/oil & gas operation is a goose.

If there has been other examples of it then yes hopefully it is the case here that for some reason it doesn't matter. Still it's kind of concerning if not knowing what is the bottom line of it all. Usually this board seems more busy when something comes up like this so I wonder if done already know more about this.

Just have to sit another one out on this and see where it ends up I guess, disaster or another bump in the road.

Your thoughts are most welcome though as it all helps to try and understand it better :)

Thanks Looked, that sounds depressingly close if he just has to sign it? Any reason why he might not sign it straight off the bat? Is it like the other court cases where they get set back etc?

Can only hope that FRC has more going in it and can keep going longer than FIC.

Not sure why Frontera is not resisting this move/has no representation. They've done so with everything else.

Can't think why Zaza can't come up with something from somewhere. If this oil & gas field is all that I'm sure a SM would be interested, be it at a knock down price, something being better than nothing.

Or maybe it's not as big a deal as it first looks. Not a lot making sense at the moment at least.

I agree that it's very doubtful that FRR have the money, if they couldn't pay the workers etc and Zaza was talking of restructuring and issues from the GG stifling their activities then they are looking like they have little. They may have something like a couple of million in the bank at a guess that they hold back to ensure the company stays liquid. All in all I doubt whatever they have in the bank would justify Hope bothering. His investments in Outrider look to be taking a hammering of millions with complete losses in some no doubt likely, a couple of million from FRR won't likely last long at best just forestall the likely enviable for Hope for a couple of months or so I would guess.

To my mind there is likely a bigger game at play here if turning over FRR is only going to reveal pennies to what he needs. Zaza & co brought legal action against Hope for liable over his comments about Frontera a couple of months back. Possibly it could be a move to get them to back down on that. That or force his hand for a payout of the $40 or some offer whether Zaza gets it from another investor or whatever. I can still only think that the data can 'potentially' be worth anything and that is if that gets sold off as a result of this action.

Yes ideas from others would be handy here also.

My only other thought is that it may a case of Hope trying to force Zaza's hand to pay up not only because of his own situation with Outrider but because it could be a way of getting a payout before all the court cases come around next year. He may reckon if he can get what he is after then all the court rubbish goes away. Many of us on here always believed these cases just to be a delaying tactic to avoid paying Hope till we get another investor sorted. So if he can jump all of that with this move then maybe that is why.

Anyone know much about the winding up court action here? i.e how long it takes? Whether it is likely to be granted? Etc.

All plausible explanations Starage and I wouldn't discount it though I would of course hope it is not the case.

I'm not sure on the one with Zaza & SN trying to reclaim their money. They might see it as the only way but I'm guessing they had a bit of an idea the way things were going before delisting. That would have been an ideal time to sell their shares. Shortly before delisting because I bought at the bottom of it all my shares had more or less roughly doubled in price. My thought that it would allowed Zaza & SN a certain amount of money back, better than nothing. After all they alone have many, many times the shares I do. If they are serious about getting their money back through action against Hope their going to need the evidence and a good case against him. For the amount they are claiming I'm not sure if they would get all of that, if at all.

While I think possibly 1 of the 3 things you mentioned may be likely I think there are many variables here so it's probably unlikely that all 3 are what has happened. I'm guessing though we may find out as this unfolds, yet another saga in the FRR epic.

Kipper, then why did the GG bother fighting FRR if nothing was there? Why does Hope persist? Why are Zaza & SN taking court action against Hope/Outrider? It's the old 'you don't fight over an empty box' argument that holds sway here I think. Remember also that FRR has paid good lobbying money to the US, no real point in that if there is little to nothing there. They could have wrapped the whole thing up shortly after delisting and walked by they've chosen to go on this long and fight it out. I don't see the point in that if little to nothing there. If it was to defraud the company then they would later be brought to book anyway so no real gain from them doing that either. I've always felt the danger to this share is having the rug pulled from under our feet before there is time to get new finance in. I'm hoping that is not the case here. Zaza has had a fair amount of time now to reorganize finance so I think now would be the time for him to come through.

If Hope were to end up restructuring FRR if he somehow got into that position I'm guessing possibly through liquidators then surely it is down to the duty of the liquidators to get the best deal possible. So even if that were the case it might not be all a complete wash out.

Zaza has to care he has millions invested in FRR shares. He has also gone along the path of keeping FRR going all this time since delisting. Would he really bother with that if he didn't care?

I believe the comments on restructuring was some interview in some paper somewhere, that's the best I can remember of it from about a couple of months back. Think he was just referred to as a Director or something though at that time he had stepped down as CEO of Frontera to do the restructuring apparently. He seemed sincere in his comments on restructuring. I am certainly hoping that there is something to it and not a load of bull. If the data is to be believed they are stood on a vast fortune and I don't see why Zaza would buy more shares into that or not sell shares before delisting if there were not truth in that data. I don't see why he would fight all the time since then if there was nothing in the data, after all it would be better to go off and lay on a beach than bother with it all for a laugh or whatever.

It might seem unfair of me to say there has seemed to be a sense of malaise with this share. That there is apparently a vast fortune there but it's just being allowed to drift when FRR should be tapping into it. I would have thought now post arbitration that there would be many investors and SM's that would be interested in investing in such a field. Probably a lot of work has gone on into keeping us going and some waiting unfortunately necessary. I just kind of think now is the time to pull the rabbit out of the hat if there is one.

My only other thought is maybe Hope is trying to force Zaza's hand into a payout of the loan notes. All a bit weird as not sure where we are with the restructuring, assuming we are anywhere, unless Hope knows more.

I kind of hoped that Zaza would have come through with something by now on the restructuring. I know it takes time and with new finance it takes then time to due due diligence and the legal stuff but I'm not sure if we can go much longer by the looks of things.

Zaza seemed committed to the restructuring and seems an able guy to me but I'm not sure how he is going to deal with this one or what's he been up to since his last announcement.

Interesting move, what does Hope have to gain from it? I doubt there if anywhere near $40 million in money if FIC's accounts. The main money is in the ground, Frontera have the data to that and they have the contract from the GG for that.

How much of Frontera would be wound up eventually as a result of this and what would Hope get his hands on?

Outrider have apparently been making big losses on their other investments and that looked set to continue due to the pandemic/economic situation, is this a last desperate move by them to save themselves? After all why haven't they don't it sooner?

My only thoughts is possibly Hope will try and claim the data as an asset for it to be sold on as one. That would still require whoever bought it to go to the GG for a new license agreement. Theoretically the GG would likely grant one as they would be the only ones then knowing where the oil & gas are - with the legally classified version at least. I'm not sure if any of the above is possible, anyone else here have ideas on this?

I don't know how quickly these winding up orders can be established/granted and actioned. If it is already before the judge maybe that is quite soon.
I'm guessing the data could fetch a fair price if it were sold off but that would be mitigated by any buyer buying it without a contract at that actual time from the GG I guess.

Unless of course I'm on totally the wrong tack with all of this, but I guess Hope is taking this course if action for a reason.