Member Info for Phil_2018

In this translation/article it sounds like it's just being phrased as a matter of fact term that the 99 percent area was not explored and the state can issue a tender for it. It could just be that FRR are way ahead on their field and have all the necessary data and know that they aren't likely to be affected much by such happening. Either that or a new big investor has bought into FRR who is interested in it.

I'm not sure why people are getting all worked up as to whether we are taken into the new restructured company. It's surely something they must do in order for it to be legal. There was the same panic on here when we heard the asset had been transferred to another part of FRR a year or so back before we found out all was well. To me Zaza has always struck me as a sincere kind of guy so I'm sure all will be fine. I'm more interested in finding out more about this restructuring as a whole. It must be a fair way in now so should be resurfacing soon or has already done so. I think in one of the recent articles Zaza said FRG is a legal entity in Georgia, is there any info out there to confirm this?

"Exploration work should be carried out there, i.e. investments should be made. The license there does not belong to us, ”Zaza Mamulaishvili told BMG."

A curious phrase to use. Why would Zaza be suggesting that exploration be carried out in the 99 percent of the area that was lost? Does he want to be facing more competition? Lol.

I wonder if there might be something a bit telling in that phrase. That it infers that FRR is to be bought out so we are no longer concerned with that area? Or possibly we are being bought into and Zaza is suggesting that that area could be worth exploring/license gained by whoever is buying into FRR. Zaza is apparently a Director rather than CEO of the supposed newly restructured company so maybe the latter?

PJOHN, Zaza made a statement to the news people last week. He told us about intended restructuring of FRR. The parts of FRR in the Caymens are to be liquidated and a new entity created, possibly as Frontera Georgia Corporation. Frontera Resources Georgia (FRG) will apparently remain to do the work in Georgia and hold the licence. We don't know where the new entity's will be registered yet. All to find out soon I Hope, from recent articles it looks like Hope might be on the back foot on all of this and not liking it, nothing is certain though, hopefully we'll get some info in the next few days.

If you mean the recent stuff so far today looks like it's about another filing by Hope in the ongoing court case. Usual stuff to be expected from him I guess. If Zaza has got/gets the situation sorted with a debt for equity swap or some sort of deal with another investor then that will probably sort all of that stuff. More info on what is going down soon hopefully.

I'm not sure what others think on where FRR might register the new entity, US, UK, Georgia or maybe even Caymans again, elsewhere???

Coronavirus cases gone sky-high in Georgia today, at 1186 today so over a thousand a day now.

PJOHN, Zaza made a statement to the news people last week. He told us about intended restructuring of FRR. The parts of FRR in the Caymens are to be liquidated and a new entity created, possibly as Frontera Georgia Corporation. Frontera Resources Georgia (FRG) will apparently remain to do the work in Georgia and hold the licence. We don't know where the new entity's will be registered yet. All to find out soon I Hope, from recent articles it looks like Hope might be on the back foot on all of this and not liking it, nothing is certain though, hopefully we'll get some info in the next few days.

If you mean the recent stuff so far today looks like it's about another filing by Hope in the ongoing court case. Usual stuff to be expected from him I guess. If Zaza has got/gets the situation sorted with a debt for equity swap or some sort of deal with another investor then that will probably sort all of that stuff. More info on what is going down soon hopefully.

I'm not sure what others think on where FRR might register the new entity, US, UK, Georgia or maybe even Caymans again, elsewhere???

Coronavirus cases gone sky-high in Georgia today, at 1186 today so over a thousand a day now.

Thinking today that Outrider must be in a situation where it will end up with less than the $48 Million or whatever it is owed, possibly far less as I didn't they request that the GG get whatever new company that might be given the license (in such a scenario) the money back that it is owed by FRR. To my mind I don't think Hope would have gone to the GG without him facing a situation where he was not going to get back as much as the loan notes deal was for.

Anyway, less than two weeks till the Georgian Election so hopefully some more stuff will come up in the coming days that might shed some light on all of this.

Let's hope Outrider will be Outridden :)

Interesting stuff Investmentboy, so I would deduce from that, that Frontera Resources Georgia is to become/has become a legal entity elsewhere? Makes sense since they need to keep FRG as that is the part that has the license and does the work on the ground in Georgia. Hence why it doesn't matter if it is struck off in Georgia since it's legal entity has been/will be moved elsewhere. So the legal entity effectively transfers to another country. So no liquidation will take place or perhaps even striking off in the Caymans as FRG is no longer there to be liquidated or struck off. Although only possibly liquidation in terms of of it ceasing to exist as a legal entity there as it will be a legal entity in another country.

For sure, I assume some further news will be forthcoming, positive I hope. Any sign of any other companies being formed in Georgia or elsewhere for Frontera?

Pretty sure Hope's approach to the GG was more out of personal desperation than anything else. In my view he made a hash of it, he clearly comes across as only wanting to get himself out of the hole he is in. Why the GG would remotely care about the hole a loan shark has gotten himself in is beyond me. If they even looked at Outrider they will have seen it is facing big losses and probably in no position to deliver. In any case Hope basically tells them that once appointed he would just get someone else in to do the work so he isn't even a proper oil company, he just wants to be saved & become rich by feeding off others.

Good working out MP. My thoughts are that if Hope's, Outrider have lost a lot of money in the past financial year then him and Outrider SH's could be feeling it, going by figures someone here stuck up yesterday. As I understand it Outrider's business is about going around and buying distressed debt and loaning out money at exhorbitant rates to companies that can't get loans at usual commercial rates. Now when stuff comes up he can take advantage off he can clean up and Hope goes about his underhand tactics. However some of those loans the company will just go to the wall and nothing can be gained, they just result in a loss to Outrider, Hope and SH's. Suffice to say times for many companies are not good at the moment so Outrider's loans may be more shaky then ever. Hope and his SH's could be looking at near wipeout of the money they have invested in Outrider. Odds are I reckon Hope was hoping to clean up with Frontera to reverse his fortunes as otherwise even if he gets his loan notes repaid or swapped for equity it, divided up with Outrider shareholders he is probably still sitting on another year of losses overall.

Just has Frontera for his workplace but no logo just a white flag which seems to mean no logo. Not much info other than that.

What could be worth thinking about is why the move to a parent company in Georgia? Is it something the GG have stipulated for it give again the seven year license? Would that mean we would no longer be a US company? or would we still have something there. The US seems to have come through for us (though we paid lobbying fees of course) so how does that sit now.

Don't think it's by choice tsbs, think it's probably the only play Zaza has right now to resolve the situation and knows that Hope won't have a lot of choice as he can't liquidate the company without losing the license. If he did that all he would be left holding is a perculiar message from 'Ziggyzag' lol.

Reading down I must say I also agree with Mole, now is not the time for legal action as he stated not only is it very costly with often the lawyers being the only winners it is often very long winded. Interjecting now at a point where this restructuring might help us shareholders might only serve to mess things up again. That and often those taken legal action are nearly always seen as the enemy and hence a problem by the other side. I think we are best waiting as until anything obvious emerges to say something dodgy has happened there could be little reason to go down the legal route.

Jonathan, I noticed that too along with the term 'refund'. My thoughts are that it probably wasn't meant to be interpreted as many would think as 'you just get your initial investment back as do ourselves but we then also walk of with the lucrative oil & gas field'. I think Zaza was just speaking in general terms. There's plenty of evidence the field is now worth many times our initial investment plus more pertinently bringing in a big investor to pay us out would just hand the field to that investor, for Zaza & co it would achieve nothing advantageous. Like I said earlier I don't think Zaza is into dodgies anyway. I'm pretty sure this will just amount to a transfer of shares for us as it's restructuring not starting up a new company. I think Zaza probably just meant that the company's present circumstances need to he resolved in order for everyone to get a return. Being a Georgian guy he is probably not aware that slightly different nuances in phrases in English can mean different or a number of different interpretations.

You could be onto it there Ziggy. The liquidators want to liquidate the company but in doing so would lose the license. So Zaza and co are needed to avoid this from happening. That puts Zaza in a good bargaining position in terms of offering a debt for equity swap as the price of the deal. Otherwise Hope is stuck and all know it, he'll get next to nothing otherwise. Hence his desperate attempt to cut out FRR instead and go straight to the GG with his 'offer'. May be little more than that to it at this stage, YA probably in much the same situation and been offered the same. I don't reckon this is part of a SM getting involved at this stage but who knows. Whether the GG or another investor are getting onboard (more) is not quite clear, it may just be sorting out current predicament. Though it looks like something is definitely going ahead. So is it Zaza saying get onboard or else the companies get liquidated anyway and so no one wins forcing Hope into the deal or is there another investor or GG onboard?

Only other thought is if Zaza is buying SN out hence why parent company will be in Georgia but reckon that might be a bit of a reach.

Possibly could be talking about the 50 percent stake the GG have in Frontera. If that has gone up a bit in exchange for finance it could be the change. Hence they might have stipulated they wanted the parent company to be in Georgia. Could make sense as otherwise why would another outside investor want the parent company to be in Georgia. Could have be a stipulation for getting a deal done with the GG. I get the impression they are not so much refering to us so much when they reference the term shareholders in this article.

Further considering all this I can see why Zaza is seemingly offering Outrider, YA even a debt for equity swap. I think he may be saying to them, 'Im offering you this, either take it as share or (presumably) we will just pay off what you are owed/go the distance with litigation even'. My guess is that FRR have a new source of finance from somewhere as otherwise they wouldn't be bothering with this as it would just redeliver the same situation they are currently in. I don't think the GG would be interested in being involved as a part of that. So maybe their is a new investor like what was touted before, Green Finance, or maybe the GG is gaining a bit bigger share in exchange for giving FRR money for it. I'm still thinking that our shareholding will just be transferred across. I think Zaza probably sees it as advantageous to do debt for equity with Outrider so as to keep as much money to invest in new wells etc as possible. Percentage wise our shareholding will be less than before but market capitalisation will have increased a lot with more to come as the field develops. My view of Zaza is that he is most interested in getting business done than running dodgies, I don't see that he is about that.

To be honest I'm not actually sure if this is the big SM deal but possibly more of a case of getting the company on a better footing so deals can get done down the line. Can't be sure but the restructuring in Georgia with talk of another seven year license sounds like it's not necessarily the big farm in many of us are looking for. Hence why for us shareholders I'm thinking it may just be another direct transfer of shares over. Probably not enough time before 30th October to suggest a big deal/corporate action notice, vote, etc to be done.