Member Info for Phil_2018

So you guys believe that this is all part of a deal being thrashed out, a buyout/JV or something like that? That we are likely to find out in the near future, perhaps just a bit after the Election if not before?

That would be presumably a happy situation if it occurred, I would hope it so. For too long I think this share has wandered on when according to the deposits it's worth being so much more.

Any chance of anyone on here digging up any info that might point to a buyout/JV, etc?

Coggy, how about using some of that money to get some legal advice on the current situation and what they recommend us Shareholders should do. I'm usually all for waiting and seeing but I'm feeling at the moment that FRR needs a new direction to get on with the job.

Zaza was supposed to deliver for us (and in doing so himself as well of course) but now he has left leaving a big void which I don't think is helpful. Questions still exist as to whether we should relist as well, etc.

tabs, was that before this present news though?

I see it as potentially the ideal opportunity to find out what has been going on before some new issue pops up probably after the Election. I think we need to check how this company is being handled and whether in the right way.

I think Zaza looks to have done well in some regards such as paying off and getting rid of YA, presumably. At present though I'm not keen on the continued radio silence. The non recognition of shareholders is getting rather disrespectful I feel and when that happens the danger is that we risk getting disregarded wherever it may become possible to do so.

I see this juncture as a good possible opportunity to get all this Hope rubbish sorted out and shelved away as well as checking to make sure that someone is leading the company who will move forward with the development of the oil field.

I'm kind of thinking we need an EGM to stop us being ignored. Before Zaza, SN, etc may have had a good enough reason but now we are past the Arb and it appears there problems are there's rather than Frontera's. They've had their opportunity to make their move but I don't think FRR should be used as a play thing by others while we are cut out of a company that we as shareholders should be in control off.

I personally think if a large group of shareholders got together and all chipped in a bit to get a solicitor to arrange an EGM, find out what has been happening and advise on course of action to take to ensure shareholders get their voice and interests represented.

I don't think we should let FRR drift for years when development and buyout/buyin/JV deals should be being done.

Do shareholders get any say/vote in a replacement for Zaza?

Would now be time for shareholders to call an extraordinary shareholders meeting to find out what is/has been going on?

If Zaza was gone around the beginning of the month then a few weeks could have already passed without anyone at the helm. Seems only fair that at this juncture SH avoid being left on communication blackout in a company we own.

It could be as Seingred says or a result of a takeover though I think that might be less likely.

Another thought I have had is apart from the board not being happy with decisions Zaza made or something he did is perhaps Zaza's intent for the company did not align with the board's. If Zaza want an ongoing joint venture and possibly other ventures in Ukraine and elsewhere whereas maybe the board had, had enough and just wanted to sell out. I know myself I'm not interested in an ongoing concern with years of he company developing but myself seeing little return. The board may have felt the same way while Zaza perhaps wanted to develop the company while seeing little return with everyone growing old with long beards.

Another thought is if the matter with Hope is all about personal guarantees between Hope & Zaza maybe the board felt it wasn't anything to do with Frontera as a company and that Zaza using the company to fight his corner was acting in his own rather than the company's interests so had to go.

Just a few thoughts I thought I would throw out there, could be off base but can be interesting to speculate sometimes I think.

Ah thanks MP thought it seemed a bit high.

The Lari has been losing value against the Dollar and the Pound, moreso of recent. Virus and economic concerns will hopefully lose the GD support by the time the Election comes at the end of next month.

Court document seems to just point to Zaza going but not Steve. Maybe the board didn't like the way Zaza was handling things or something he had done or something.

Just looked up and this latest poll gives the GD nearly 56 percent of the vote, that's not good for us:

https://agenda.ge/en/news/2020/2785

But still time to go and the Coronavirus now has recently shot up in numbers there:

https://agenda.ge/en/news/2020/2927

It looks like it has really taken hold there now and once that happens it tends to be a case of figures going up and up. As bad as Coronavirus is it breaks the GD's track record of handling it well, that may turn things back around just in time.

Surprised to hear this latest news that Zaza is apparently no longer leading FRR. I thought it would just be a case of sitting and waiting out the result of the Georgian Election.

For me I think at least as far as I can see on the face of it Zaza did good work in dealing with the problems FRR had. I know some here wanted him gone and weren't happy about the Nomad leaving and the radio silence. The radio silence wasn't much joy for us SH.

If he had gone by/around the 4/5th Sept then I guess that might point it to being as part of an agreement for the GG not taking back the whole lot in late August possibly.

My view is that Zaza has always seemed very committed to Frontera and apparently has a lot of shares so if he has stepped down then I can only guess that there was some over-riding reason that he had to. Possibly he might come back later and/or this is a tactic to hold up the court cases.

I guess it could be a buyout/JV deal, it might seem soon but with the GG stepping down from their threat to take the field then that could have also cleared the way.

If Zaza said is now just a PI like us then perhaps someone could send him an invite to join this board then we can find out what's going on ;)

Probably why they were going for the Ukraine tender so as to not have all their eggs in one basket. They probably reckoned they could get more finance of the back of it.

I reckon if they can develop the field unopposed even six years could allow them to pay off their loans and give some sort return to investors. Odds are that agreements could be reached with a new crowd in government there. Some payoffs might be needed but that seems to be how business is done out there.

I think that the main problem is that in a lot of these ex-soviet states like Georgia, Ukraine, etc they never really learnt how democracy works. Let's face it essentially even when a party loses power in the west they rarely lose out, even for those that have lost their seats. I've never seen a news report of an ex-MP, ex-US congressman, etc signing on down the jobcentre lol. If they can't get behind the scenes back seat roles in their party they usually have earned enough and got a big enough best egg to go and get money in from their own money making set up. In a lot of these ex-soviet states however I think they still see it as you either dominate or you stand to lose everything. I don't think they ever really grasped that isn't the case or how the democratic system works but it's the mindset that still persists. It can take quite an effort to turn that around I think.

Possibly the GD party might be coming around to reaching an agreement with FRR before the October Election. This latest news might be the start of a U-turn on all of this. If we get to the Election and it turns out to be a fair enough battle with no one party controlling an outright majority as is expected under the PR system then the GD will have to come to terms with matters and may be hopeful of working with other parties in the hope of retaining some say in matters.

I think in general though we probably won't see FRR fully come out of this till after the Elections at the end of October. So once again that means more waiting for us, lol.

Topic of why the Nomad resigned has come up before. Don't quite fully remember why but think it had to do with certain aspects that came up. Think it might have been as they would have to comment on the Hope case, possibly the Arb and the company and that would have been detrimental to the situation for FRR as a company. Possible other reasons might have been a conflict between Hope & Zaza as to whether to release statements and which ones.

I personally can see why it would have been unhelpful to FRR continuing as a company with every move they made highlighted with a neon sign for all who wish to do FRR no good to exploit.

Sounds good news that they are actually now extracting some of the gas and selling it. Also some good news in that they are at least able to sell to the domestic market so at least getting some money in. I'm guessing that money at least keeps FRR going and with a bit of luck an improving balance sheet.

Does Zaza have damning evidence against Hope?

To date FRR haven't done that well in court against Hope. If they don't have damning evidence then can they survive a bad judgement if it got to that, I doubt it, not unless they can get more finance in. That may be possible, they habe time now that the case has been put back again, 2021 is it now. If things pick up after October's Elections in Georgia then stuff could get sorted then.

Erazzel, well I could quite see myself in a Dynasty/Dallas type of setup, lol. Then again a quick buck could mean I get my hands on some decent money before growing a long grey beard ;)

I'm guessing that ZM will be pursuing the same goal of forming a consortium in the weeks and months ahead. If the field yield is large and can continue for years ahead I can see the benefit of retaining some shares.

What's your thoughts erazzel and any other members on why this path has been chosen and whether it's the best one?

Erazzel, how so? How did Zaza come to the conclusion that this was the best way forward?

I'm guessing on any relist, if any relist, it would make it possible for investors to decide whether they wish to sell or hold, or to just sell a part of their shareholding. I assume though that the share value would be less than money from a buyout payout as the SM would be valuing for the whole lot.

In a consortium I would assume FRR would have a slice of that large pie.

Thanks Looed, things are looking a lot more positive on this share than they were a few weeks ago when it looked like we might lose the lot. Its looking like US support really weighed in heavy in the end and hopefully the Georgian Elections will result in a less hostile position to FRR.

Knowing that a consortium was the way that FRR was interested in moving last year is interesting news when we were all in the dark on what was happening. It's good now knowing more of what has been going on :) I know most of us on this board have been hoping for a buy out, so where would forming a consortium leave us? That I assume would mean FRR going forward as a company instead of being swallowed up and a payout by a SM. I'm assuming a multiple billion dollar development of the field would mean each FRR share worth a lot more money and presumably some sort of dividend in the future?

I think FRR's position will be strengthened a lot potentially by the releasing of the Arb judgement (minus the commercially confidential stuff of course) in showing that the GG had no grounds to threaten seizure of the field and obstruction of FRR's activities.

Looks like Zaza has gained momentum here and some real positive movement can be made here.

Ah I see, thanks Looed & MP that explains it well. Kind of shows that the GD are not fully aligned with Russia to have agreed to the Electoral change. Let's just hope they don't try any stunts like stuffing the ballot boxes. If all goes ok then things could be looking up for this share it seems :)