Member Info for Phil_2018

...was never fully explained. I don't think they would have quit without some fishy business going on, they quit for a reason otherwise no reason to quit. So that is one area to look into. The other is TXN and I think that SN had premeditated the whole thing from deciding Frontera would be used to explore the field to deciding it would be ditched and a new company created to reap the spoils as far as possible for himself.

People here have to stop hoping that SN or whoever will be nice to them and give them their rightful slice of the pie that gets has taken from them in the first place. It's only us shareholders who will stand up and support each other in our common interests. If we don't do anything then SN will get away with it and we will be done out of the spoils of Frontera's lucrative oil & gas fields.

Sure Ziggyzag I may have thanked Looed back in the day and I lived on the hope that what he wrote was in good faith.

This isn't about blaming someone about it going tits up, it's pointing out that despite whatever Looed put and a lot of it was reassurance from the company, indirectly apparently that all was going well enough and it was being worked upon. So we should sit tight and not make any disturbance for fear of upsetting whatever was happening, oh my word, lol.

People on here have asked over the years where Looed's mystery source came from who only he was privy too through back channels. Now that Frontera is liquidated perhaps Looed would be able to enlighten us? Something tells me that no answer on that one will be forthcoming. So us shareholders weren't able to get an official update from the company just smoke signals through Looed with the someone says so and so but none of the other Shareholders could be told directly.

The rest of you, including you Ziggyzag I appreciate all the information you brought here, you did a grand job and without you we wouldn't have known much at all and would have been in the dark. However, you have a shareholding here, as most of us do. Are you content to just passively walk away when you could have been done over? SN had a responsibility to all shareholders and I dong think he has acted in good faith. The Nomad quitting was something that w

Toatie, you have lost more than most here, £100,000 is a lot of money and you would be perfectly right to feel livid at what has gone on here. I wouldn't put any faith in Looed though. You would be best off researching TXN whenever you can. I am sure that SN is trying to pull a fast one. I think a lot of dodgy stuff has likely gone down in Frontera that we don't fully know about that was against Shareholders interests, the Nomad suddenly resigning, delisting, etc. To me it looks like three rogues, SN, ZM & SH were battling it out to get the upper hand. We were the victims. My guess is that SN has taken something valuable and needed to TXN that he shouldn't have done. If we can find out more then we could potentially get our rightful share possibly by going to the FCA or whatever.

You are one of those in denial ODR. Yes it seemed that Looed was being helpful to us but I don't see that he imparted anything of consequence to us. Looed's most recent contribution over the past year or so to walk us through the process of Frontera being liquidated to a benign acceptance.

Now Looed seems to take great interest in talking down any attempt at finding information out on TXN, I wonder why? 🤔 After all what's it to Looed? It doesn't hurt him, or does it?

Looed may well be looking after Looed. I find it amazing though that Looed has expressed little in the way of dissatisfaction or upset, little emotion at all considering he is invested in this share I take it. Perhaps he has a better deal already sorted elsewhere 🤔

"Phil_2018 - looking at the last two paragraphs of your last post, you can’t really have it both ways. If Block 12 is no longer FRC’s and you don’t think FRC has anything to do with TXN or any future contract, then what exactly is the “fast one” being pulled on ex-FRC shareholders?

Armoured_bear’s view that SN “screwed us over” may be a fair sentiment - it might even be true - but proving it in a meaningful legal sense (i.e., in a way that results in an actual recovery for investors) is a different matter.

I’m all for sleuthing, but what specific right, obligation, or recoverable do you think exists, and what would a remedy actually look like? Without that, goading others to “keep digging” on your behalf just seems to be in support of your own ever-expanding speculation rather than a strategic plan of action."

Looed, there's some shareholders here that think the sun shines out of your a**, but really what have you ever really done?

- Conveyed so called unofficial message from the company/special source telling us to 'sit tight' and that all would be good and it's all in hand. While it turns out none of that was a good idea and instead of the risk of shareholders 'messing it up' we found out that SN was happily allowing the company to be liquidated to get rid of it so he could set up TXN and get bigger payback on the field for himself. In my view a form of business manipulation.

- Now you seem to have hostility to shareholders here including myself from finding out what is going down with TXN, I wonder why? I recall someone here speculating that you might be in a deal with SN when Frontera was in trouble. Truly we never really know who you are? But you apparently have an inside track on things that the rest of us did not which leaves us wondering 🤔 Maybe you just worked as a cleaner at Frontera offices and overhead conversation from there lol.

Whatever SN's reason for the name change who knows, he probably had a reason to do that. Other than that essentially he set it all up with the idea that it would be a replacement to Frontera. I very much doubt that he has included us in it unfortunately that is probably just wishful thinking.

Point is that SN was lobbying when he had TXN or just before the name change. At that point he knew Frontera was too far gone, would be liquidated. Question is what he was lobbying the US government for with TXN (or whatever it was called at that time).

Mapp unfortunately block 12 doesn't belong to Frontera no more, the contract ended and I doubt Frontera is anything to do with TXN now and any new contract.

Keep on the lookout for any more info of use on TXN or research the info we currently have. We need to find out what is going down here and if SN is pulling a fast one on us as suspected.

I can't say for sure what SN had to get the GOGC/GG to drop the tender process and secretly go with him, dodgy in itself, but I am sure he had something big from his Frontera days to do it.

Interestingly, I found that Njames has already solved the question of when TXN was formed, sorry for not realising your posts on that Njames, it's good work on your part 👍

https://www.lse.co.uk/ShareChat.html?ShareTicker=FRR&share=Frontera-Resources&thread=18495147-34B2-4B83-8F23-9E7411B07BD5

Appears TXN was formed in January 2024. So SN had formed it then no doubt already regarding that Frontera would be left to its fate and he would move forward with TXN (a separate legal entity and without us instead). So when he paid for lobbying in Nov 2024 it would have been to aid TXN not Frontera.

I think he probably regarded a lot of Frontera as a dead weight by then (debts, shareholders diluting profit, court cases, etc) and decided that he would be better off with a new company without that dead weight. I still think he is playing a sly one and has taken something that belongs to Frontera on the quiet to TXN, hoping that it won't be noticed but seeing it as a good move if he can get away with it. Something made the GOGC/GG go outside the formal tender process and drop that process and secretly sign up the block with him. I wonder if those other companies involved in the tender process would wish to take legal action over that one 🤔

Perhaps ZM was not aware that SN had possibly concealed some of the data, or he preferred not to go into that. ZM might have known that he would get away with stealing the oil, etc and may have seen it as not advantageous to say anything thinking he might benefit later from not doing so.

ZM we still need to find out if he has a hand in TXN or not. If he knows stuff then possibly he may be involved in TXN also. If he isn't my guess is that he would have interest in what TXN are doing also as he wanted in with the big oil money.

If I remember rightly the GG only gave way over the Arbitration as a result of Frontera/SN lobbying the US who in turn put pressure on the GG to back down which they did. I only ever got the impression that the GG generally had an acrimonious relationship with Frontera/SN.

MP & Monti, I agree with you on the point that they knew how to get the oil out by the time all effort to do so ended around the time the Nomad quit it shortly thereafter. Frontera had signed that MOU with another company to develop oil wells on the field but that fell apart at some point after the Nomad quit & the company went private, not long after I think.

In general I think that ZM & SN had decided that it was pointless developing the wells with too little time left on the exploration agreement. They would have to get the cost back off the sunk wells and then make profit before the end of the licence contract - a few years at the time. So the time it would take to sink those wells would take away from that time. After the exploration agreement expired those wells would then revert to the GOGC etc so they would get a strong hand of many wells pumping oil while Frontera/SN would get a much weaker hand. With just a couple of small exploratory wells pumping oil that isn't enough for the GOGC to be lucrative enough that they wouldn't need SN.

So SN knows that there wasn't any point doing anything further under the Exploration licence and a new Development Licence would be needed. Unfortunately for us Frontera just had accumulated too much debt and too much share dilution to be worth going forward with for SN's outlook.

IMHO I really do think that it's very likely that SN & ZM made the situation far worse at Frontera by not paying YA and other creditors on time. I believe they had they money or could source it either through loans to the company by themselves or issuing another share issue, yes they had done this before diluting down the share and it was unpopular with existing shareholders but it could have solved the creditor non payments and they didn't even try. I personally think they irresponsibly purposely stopped paying these creditors knowing that it could be used as a legitimate excuse why the company folded. The number of court cases and money spent on court cases because of lapsed payments was ridiculous and they often found money to pay for solicitors to a point, so they could have paid these creditors.

To me it definitely looks like they missed paying these creditors on purpose. Literally there was no effort made to avoid court cases, it became a regular unhappy theme for us shareholders to hear about, if anything there seemed to be a concerted effort by SN/ZM to ditch the company in as many court cases as possible, on purpose I think.

Even SH was cut out, yes we saw him as the big baddie at the time and perhaps he was after getting the lions share of the company, but he had the resources to help out Frontera's situation with creditors. He had money he was willing to loan Frontera of course for a bigger share of the company than looked right but if it paid of the creditors? We would have still gotten something potentially rather than nothing as is the case now I believe. Essentially SN/ZM ran scared from Hope as they k

For the love of god Dave, SN doesn't care about us no more, he never really did.

I'm pretty sure his response to Frontera being liquidated would be that he doesn't need to give representation of the company anymore as there is no more company.

I would be deeply surprised if he believed any different to that. I would like to dream but I very much doubt it.

I disagree Looed, if you were dealing with a corrupt government, government agency, etc what would you do?

Would you give all the technical data fully and openly up front or would you just give a sample of it and keep for yourself particular key information?

Now myself I would choose the latter and hold back all information that I could where it wouldn't be possible to pick up upon it by the GOGC. I would then be saying to any asking that, that is 'everything' that has been passed to state agencies, but are we really kidding ourselves that the likes of ZM & SN would have passed 'everything' to the GOGC lol.

My guess is that any companies operating in corrupt countries like Georgia quickly realise that letting on sensitive data to corrupt government agencies is something that won't go well for them and they will seek to cover up anything they can get away with.

I sure as hell expect SN will be out there with something that the GOGC/GG don't have. He wouldn't have set up TXN if he didn't have something worthwhile to roll on in there with.

"Phil_2018 - The State Agencies already have the data."

So some might say but people can say all sorts and it be other than the truth. SN has created TXN for a reason and it's aimed at oil & gas. SN/Frontera did not have good business relations with the GOGC/GG. Though now apparently he is their best bum chum. So what's changed? SN/TXN have claimed that already $200 million have been invested in oil fields in Georgia and they are apparently looking for a further $100 million. That they have oil production going on at present. So we don't know how long TXN has been in existence and what the exact state of play is with it.

I'm going to take a guess that potentially TXN was created while the site was out for tender and the GOGC/GG pulled the tender and gave it to SN. SN had something far more valuable than the other companies could possibly bring to the table, my guess is the field data. Possibly the GOGC/GG had some form of field data but as has been said the field is complex so I am guessing that odd are SN held something in regards to that, some knowledge/elements of field data that the GOGC didn't have that was far more crucial than anything they had. There is something there I'm sure of it.

In the meantime I would be interested to know whether TXN is currently working on the field. My guess is that they probably are. That they have been so for some time behind our back. If you think about it, it would make sense not to advertise it but to work quietly until there was little other choice but to go public with it - the lobbying and need for investment made that essential which is why we hear now about it but I think there is a very good chance that TXN has been operating a while.

ZM formed his own company even tried to steal Frontera to get hold of the field so SN is probably doing similar although of course now Frontera doesn't exist & lost the contract over the field anyway.

"The day of reckoning is coming for us when we finally find out if we are onboard with him."

Possibly SN might repay VN the money taken from the family trust fund if she is lucky with profits from TNX. If we were brought on board as you say with TXN Monti I doubt it would be through moral values (though I would like to think) but of Frontera Shareholders taking action on wrongdoing. Although our shareholding would be diluted by any other investment in TXN I think it is still incredibly unlikely that SN would grant us anything in a separate legal entity without cause, that is just pipe dreaming.

Being too placid and letting others walk away with stuff unopposed is how shareholders the world over gets shafted out of their investments, you can't expect to sit back and all the work to be done for you if you want anything.

I guess it's gone like I said it would on this share, we were told to wait and sit tight even when under liquidation in the darken closet as it were and now we are coming out of that closet with SN having run off and not returned for us leaving us to feel entirely buggered.

Though this liquidation gives us closure and we can move on from that I still think that there is potential future action on this share through the FCA, etc as I don't think we were handled in an above board way and that may come out more from info we may get on TXN.

Why SN needs all that money at his age I don't know, the moment you hit the deck you own nothing anyway.

"What if anything happens going forward is completely separate to that entity as it has been dissolved."

Not if it's the field data or anything else from Frontera that has been taken for free by SN/TXN. SN could have told the Liquidators all sorts of untruths. Ever since the Nomad left and delisting all sorts of dodgy stuff could have gone on by SN. It's something that we could be quite certain on as there seems to be a lot of carry on that has gone on and is probably still going on with SN/TXN.

I think Sat's idea of considering the FCA holds some weight, what are the odds that SN has put his foot in it with Frontera and something maybe many things aren't above board? Something tells me that is quite likely.

So I don't think we should meekly tuck tail and quietly depart when it may just require a complaint of wrongdoing if that is what we find.

Monti, SN does not care about Frontera shareholders. He isn't going to want to bother making any effort to say anything more to Frontera shareholders, there is nothing in it for him. He does not care about us, he only cares about himself. In general he does not really know us. If he met any shareholders briefly at any shareholders event he doesn't care about that it will have been out of his mind long ago.

Frontera was essentially used to just dump all the costs on of proving up the field. TXN, an entirely separate entity it seems is there to reap all the profits without having to deal with those burdensome costs of field exploration.

Those who were shafted along with us on this one doesn't help us. Most of those mentioned any losses won't be significant to their ongoing ventures unfortunately. They will just get money from elsewhere. It's either a gamble for them where some investments work out others don't but overall they often win through or they make sure they get money out along the way, by salary or even dodgy means if necessary.

None of this is a personal thing for them, companies are just formed to suit purpose and in this case potentially as a means of dodgy business manipulations. I still believe that TNX will be using something crucial from Frontera, the GOGC/GG I don't think are that taken with him but again business is business and corruption is everywhere out there anyway. So they will do business with him if they need to.

Took a long time and drawn out but it is what we expected. It was heading nowhere good due to all the goings on over the years. It's a shame it could have been so much better.

I still think this TXN one we should keep an eye on as I think SN could be pulling a fast one there with field data or whatever. So more sleuthing could be very helpful :)

Don't know how long this board on here might stay open after the liquidation.

Monti, ZM stole the oil which he got away with so he's not out of pocket. Probably SH could have done better from this venture, probably his Outrider company is way out of pocket, if it's still going, I think it may have been facing financial trouble. However, most of these guys will keep a lot of their own personal money out of the companies they represent.

So probably not as sad news for them as it is for us.

Maybe TXN is FRUS rebranded, would be nice, I assume with us shareholders onboard.

My guess though is that SN is probably trying to pull a fast one here getting a deal with the GOGC/GG with us out of the picture using the field data or whatever from Frontera.

I think Sat is right that if so the FCA may be able to help us out. Keep on digging guys I think we have learned a lot already from what we thought was totally a dead share might still have a twist in it for us if we're lucky :)

Seis, I think you are right that it is most likely a postal address as SN would probably want to give it a bit of distance just in case. Potentially though I think TXN might still be Texas based, maybe TXN is the short form of the word TeXaN for the company.

With SN's Birthday coming up maybe we should all swing by his place and pay him a Birthday Surprise we could bring card & cake, lol. I'm sure we would have lots to say to each other.

A good find Looed. Judging by what it says in the article if looks like TNX is a US private registered company:

"TXN Energy Holdings Inc"

My guess is that it would be registered in Texas as the website gives address as Houston.

Doesn't look like you can search a register of private companies as you can in the UK probably why SN based it there and being a US citizen and all.