Member Info for Phil_2018

Fiber, I wonder if we would have to pay tax on some sort of a payout anyway if it's was in an ISA as I'm guessing anything other than selling the shares in an ISA account might trigger it. A straight forward payout sounds better to me than dividend payments too particularly if it attracts less tax. What sort of tax are we likely to pay, roughly up to 20 percent Capital Gains?

Gipps the thought that my £10k or so investment might potentially if all goes ok make me a Millionaire seems crazy to me, lol. I only need to be quite wealthy to not have to work and do as I please :) If it did get anywhere near that or even just a £100k or more payout I would be a very happy man. I'm not even sure of what I would do with myself other than quit work and spend most of my time at play :) A glorious thought indeed! Many possibilities!

I can see the reasoning behind your estimate and 20p sounds more realistic. If that's the worst case then I guess a likely enough case could be anywhere in the direction of 40-50p a share or more taking a not too severe path a bit above the worst case.

Even 20p a share I would do very well with. Though I guess that would be minus tax on my part possibly now that the shares are no longer in an ISA. If they relisted then I guess I might be able to re-ISA them though I'm guessing there might just be a big payout without a relist.

If any of this is possible I would very much like to be a part of that reality sooner rather than later :)

The concept of the future revenue now being worth multi billion instead of millions is pretty exciting as it means the worth of the shares are worth a lot more than they were.

I certainly get the impression there is a lot of worth here now and the various parties have realised that. It still kind of feels we are part of a bit of a basket case of a company that is teetering on the edge rather than a lucrative outfit.

I'm rather hoping this will mostly all get sorted in January and not drag on forever more as the wait and lack of official notification from FRR where we are at is doing my head in. It still feels like we are stuck in no man's land.

The GG wanting a bigger slice of the cake than the deal they signed up to is a bit off. Like you I don't blame them for wanting more but a done deal is done in my reasoning. Seems silly them saying 'well despite our deal that we signed up to we now want more'. Normally once a deal is signed its binding and the parties have to agree to it as is. Anyway, hopefully we'll see what happens in January and they'll get it sorted early in this coming year without further fuss.

Gipps are you sure that is right?

This share was well under 1p per share with what was considered a large volume of shares issued a good 15 billion shares or so. I heard that some commentators thought the large amount of shares issued meant that it may be unlikely that a huge increase/profit on shares would be likely. I was hopeful of a fair amount of profit but that amount would seem astronomical.

On £10k of shares bought for under 1p a share that would equate to over 150 percent rise so end up with a value of £1.5 Million???? Just for owning £10k of shares!!!

Have I got that right?

If so Zaza & SN who each own a few billion shares would be made enormously rich. They could buy a whole country and run it as their own private country, lol.

I think block 12 is potentially worth a lot, I'm not sure how much, I never really thought I could get that much from it though. I was thinking I might make £100k or on a good run if it came good. Even with that I was thinking I could make it work so I could give up work :))

Given the message we got last Christmas Eve WB I will be happy to forgo any Christmas Eve message this year, lol.

If Zaza has a billion shares of FRR & SN nearly 2 billion that's a lot of shares to hold set against the total shares out there. I doubt either will be wanting to get 0p per share especially as there is oil now flowing in block 12 otherwise they would walk and avoid all the bother to date. So it shows that it is all worth them fighting on for it and hence worth in all of this for us also. I'm really hoping this will all be resolved in January, that the conclusion of the Arbitration to rectify the other issues all in a positive way and it comes good. From what we have heard/think so far the Arbitration is nearly complete so hopefully all positive there.

My thoughts too Honcho, but from what I see Zaza is starting to get on a bit so I wouldn't see the point in him just going on & on trying to develop oil fields. In my booking you win a bet it's best to take your winnings and run rather than risk losing it all on another gamble.

Let's hope Zaza sees it that way too or intervention may be necessary.

I wouldn't be happy if there was a big load of money paid for block 12 then FRR kept it and went to waste it in Ukraine and/or Moldova. Both are dodgy countries to be doing business in way more than Georgia. Ukraine could be invaded by Russia or have a corrupt MP or President take over the asset. Moldova I would not have any faith in them not being corrupt either. I think FRR should pay out a substantial sum to shareholders at least if there was a buyout of block 12 so we all make a decent amount of money. That or we shareholders should install someone who will. Going around sinking large amounts of money into uncertain ventures seems foolish to me.

Just so long as they don't both tug at that box so hard that it ends up ruined for everyone.

It seems clear that they are both fighting over it and have invested in it so there is something worthwhile there, the GG seem to see the same way. While the last news we had officially from FRR over a year back now was that a good quantity of oil as being pumped out with vastly more still at hand.

I'm not sure whether we truly know if a deal is at hand. It may be speculated based on some indicators that may be the way.

Either way with a bit of luck stuff might get sorted in January and we might come our of this there after, that is if it all goes well.

Imagine Zaza & SN are confident of the long term prospects of FRR otherwise they wouldn't have converted their debt to shares. They would surely have tried to get their debt repayed as soon as possible or converted it to shares then sold the shares. I think they would have also sold a lot of their shares if they weren't very confident that they could get through this. They must have known what was coming up but bought many shares just about a year or less beforehand but never sold before delisting. Zaza must have a large amount of his wealth tied up in FRR and I don't think a wealthy guy like him would do that if he thought there was a good chance of losing it. If Frontera had no go in it easiest thing for him to do would be to sell up all shares before delisting and walk, set up some other company elsewhere that may end up with some go in it. He's basically in it the same as the rest of us shareholders and will become immensely wealthy when this comes good. We know the oil is pumping (when there are workers on hand at least) and there are vast reserves their now after fracking so there is good value in that it's not like we're in a company that is coming up empty handed on that. I'm hoping that Arbitration will be sorted in January and very positive news will follow that.

From what I've heard on here over the past few months on here it looks like the Hope case is just needing to be trundled along till the arbitration was sorted. The arbitration was supposed to be sorted in November but one outstanding issue remained. Hence why the Hope matter couldn't be wound up then probably through lack of money for a settlement payout. If Frontera can get the VAT back in Arbitration it believes it is owed and/or a deal with a Major agreed then a settlement can be made with Hope. From what I hear on here the Arbitration will now hopefully be settled in January fully, hence why FRR are continuing to jog along with the Hope case till after that has passed. If that's the case then likelihood is that they just need any lawyers name to put down, someone just to jog along with it till the appropriate time.

If this is dated for the 18th November then things could have moved forward since then a bit. I'm guessing this was a result of the Arbitration that was supposed to be concluded around then. What are the chances if all this is the case that we might hear sometime soon an announcement on all of this, of some possible buyout or similar being achieved?

If the workers are on strike then that would be a real problem. It would depend for how long, an indefinite strike till pay could sink the company as it relies on its revenue stream to keep up. Hopefully they have got some money to keep things ticking over till at least the arbitration is resolved or some sort of temporary resolution with the workers is reached. If things really are that bad there, Zaza might need to dip into his pockets to loan the company some money to pay some of the workers pay to get them back at it if that's the case. I will feel happier when the arbitration is done & the workers have been paid. More happier when we get back to a full official statement from the company of what had been happening and if course relisting, buyout, etc.

I believe the last payment to YA and by far the biggest after the resheduling of payments agreement with them was $1 million point something, maybe $1.3 or something along those lines, they had a series of much smaller monthly payments before this though, again forget exactly but about $100k or so a month. So guessing all in all it would have probably amounted to roughly $2 million by the time of the resheduling of payments agreement to the final payment which I think was around July this year. The rest I guess probably went on operational costs and paying of interest from other loans possibly. Also I guess there was probably some money left in the liquidated part of Frontera (the 5 percent) to justify the move of assets as legally acceptable. The point made above about keeping some money back to pay of Hope's OMF interest of $2 million might be a valid point, but I'm guessing that's probably the least pressing matter to date.

Seems to back up what I've been saying on here that FRR saved the money from the oil revenue (5500 tons apparently) to pay off YA (presumably the significant debt). Doesn't look like Frontera has been paying it's Lawyers or the Employees as unfortunately for them they come down the list of debtors. Now though with YA presumably paid off and the strike action they need to come first. If the workers aren't at work then the company could come in real danger off collapse. Zaza needs to reach an agreement with the workers that he can keep to get things ticking over in the short term.

I can understand how the workers feel seeing tons of oil trundling out worth hundreds of thousands and then being told there is no money to pay them. Zaza needs to be empathetic to their plight and sort out some finance to pay them. It could well be that another month of oil revenue might be all it takes to get back to a financial position to pay the workers again but in the meantime something else looks like it should be sorted out.

I assume the happy days will be when the arbitration is done. Is it known for sure that it will be finally settled in December? or might it go into next year?

Are you sure it is not the 'employees' that have not been paid that are the 'representatives of frontera' stating that "we've not been paid for months".

Would make more sense to me.

That a resolution is wanted in the near future sounds good to me. Then we can get back to a real going concern going forward.

Probably just a case of no good news to tell at the moment. If the workers have not been paid for months and are demonstrating, and if the court cases & arbitration are rumbling on and not yet reached a conclusion that can be publicized then little reason to talk to shareholders. With confidentiality issues in these cases and from what it looks like the delicate situation of FRR I guess it is too risky too.

I believe FRR had until today, 18th November to come up with replacement legal representation in its court case against Hope. We know that it had been looking to conclude matters without bringing it to court next year. I personally would rather the whole thing be dropped now as Hope is now of the BoD so I assume it has served its purpose.

I believe FRR need to now focus on getting one big loan with decent terms from an established finance institution to replace all the iffy smaller ones it has. It needs to pay the workers if they haven't been paid and if it can secure funding to get more wells dug then they need to do that also.

The arbitration case will hopefully be over soon and this could be a good chance to get away from all the expensive legal costs associated with court cases. No good sinking the company with them.

Possibly matters will get resolved this month with December being a better month, potentially. I can understand why there is still info blackout at the moment but by early next year I would hope this to have changed.

Is all this lobbying money being spent having any real affect I wonder? If it were why are we in arbitration at all and not getting the deal agreed to at the outset?

Thanks Mike that's a useful insight. Next year some sort of AGM would be handy if the fog has not cleared by then which I believe it should have. I get the impression at the moment we are either at a turning point or a very dangerous moment for FFR. I too believe that the court case against Hope has now gone on for too long and needs to be resolved. One problem of not having an empty box is that the box gets ripped apart by different parties wanting too much of what's inside and spoiling it for everybody and nobody getting anything as a result. It sounds like FRR are desperately in need of replacement finance on better terms from just one company to make a better job of all of their loans from various companies. If the arbitration and hope case can be resolved in the next free days/weeks then that could happen from perhaps this December onwards. It sure would be good to see all this mess being cleaned up and better prospects forthcoming.