Member Info for Phil_2018

Generally Hope is entitled to the 2 million and presumably that will be covered by the 5 percent in the subsidiary he is liquidating. He then presumably would have no claim to anything else until another interest payment is due by which time it is hoped/thought that better finance can be secured to pay him off. Perhaps as he is no longer on the BoD he can no longer be seen as getting in the way and can't press a claim beyond the 2 million once he is paid it/liquidates so hence no reason for an injunction. The communication early seemed to make clear that the liquidation was limited to the subsidiary and that there was no claim on the parent company.

The case is about Hope breaching his fiduciary duties which it appears he did through a conflict of interest. Frontera have to prove this with decent evidence.

I think the situation with what can be arranged while Hope is out of the picture in Frontera in terms of finance, oil income any development and oil Majors could likely sway in greater in the long run. If Frontera can successfully organise a loan and/or are bringing in good income/profit then that can solve a lot of the problems with Hope. Field development and Majors ready to jump on board fully could also be significant to Frontera's chances. I assume Zaza etc are making moves on this while Hope is out the way.

My guess is that Hope very likely put his own interests first when on the BoD. That FRR probably have indicative evidence to show that, but that a lot of Judges need more than that, a Jury perhaps not so. So just a blocking move of finance by Hope may not be deemed enough but a Jury may be less concerned with having stacks of damning evidence and be happy to decide against Hope on that.

I personally think a lot of Judges act in a certain manner due to their judicial background that means they can act from that which can end up unfairly against the wrong side.

My thought is that Zaza etc know that Judges don't always act in favour of the right side and so not to rely on the court system but to make corporate moves which they can do while pursuing the court route. I think our main concern at this point is that all financial bases are covered by FRR to avoid problems and consequently keep our shareholdings safe.

My guess is that the 5 percent is of the current value of the company. Most probably it's just cash in that 5 percent, no actual property of note. Hence it will cover the 2 million etc.

I agree with you Reg, it's a game of ducking and diving. The more time that passes the more money comes in and the less vulnerable FRR is to Hope. Zaza etc are essentially getting rid of Hope and his claims on the company/block 12 along the way bit by bit. Once Hope liquidates the 5 percent he will have had his interest payment and will find it difficult to claim more. A guy like Hope you can't negotiate with, Zaza knows that, you just throw a vulture what their due and don't get into discussion with them over it. With a bit of luck a decent loan will be organised in due course and Hope will be paid off fully and we'll be shot off him.

Thinking about this further it makes perfect sense to me. I think some guys are getting carried away on here and thinking too deeply about it all.

Simply put the 5 percent of the company is simply what they are throwing to Hope to pay off the 2 million he is owed. They then stop Hope/make it difficult for him to have a claim on the rest until the next due payment. Before then off course with him paid off and out the way they stand a good chance of securing a loan to get shot of him or at the very least have money in the bank to pay of Hope for the next loan repayment.

It could also possibly be that Hope was part of the BoD for the part of the company being liquidated but not the rest.

If this is correct as I believe so then hopefully this will also get sorted out shortly. The best case scenario is that a new loan is found soon to pay off Hope's loan and this mess will be sorted out.

Indeed, Zaza etc have a lot of shares themselves and have spent good money on them. I don't think that they would have done that if they thought their own shares would be wiped. I really don't think its possible, I've never heard of it.

Also if Hope liquidates the 5 percent of Frontera International wouldn't that equate to at least the 2 million interest payment he is after and hence have no claim on the company to the next interest repayment is due, thereby buying the company a lot more time?

My shares are still showing up in my Halifax shared Ealing account (though of course as 0p). It just has down 'Fronterra Resources' so I assume that means the whole company. So if one part were liquidated I should still own shares in the other parts, right? I would assume this to be the case so as to stop shareholders being swindled on a regular basis which would of course become well known about if it happened.

By the same token I am guessing that perhaps Hope can go after the rest of the company to settle the debt as again otherwise it would be all too easy for companies to wriggle out of their debt, they would all be making that move and again we would hear a lot about it. My guess is that this may just be a move to buy some time in which to get money sorted for Hope and remove any direct right to take control of the assets.

I would assume that both YA and Hope still need to be paid off. I also assume that given the money Frontera is getting in from Oil revenue that this is possible moreso if they got another loan to replace that from Hope to pay him off and get shot of him.

Anyone here gotten the advice of a solicitor on all of this?

It is interesting that notification of the 2nd court case came out on Sunday, a day before we may assume the Cayman case was wrapped up.

I can only speculate but I assume that perhaps it was necessary to bring the case before what we may assume was final outcome in the Cayman case rather than after. That bringing it after may have been a difficulty or at least not preferable.

My guess would be that it might partly be as a move by FFR to mitigate any negatives that might off come out of a final result of the Caymans case since nothing is assured and FRR are edgy because of how to ge Caymans case went initially.

My guess also is maybe more information on what Hope was doing may have been found along the way possibly as a result of the case. It may then be possible to bring this to a different court since I doubt the same case can be reheard in another country exactly that which has been dealt with elsewhere, this is just random speculation though.

It's a pain to have to have to wait more months through another court case but if it gets the job done then that will have to be it. When we get any news of the Caymans outcome that could tell us something.

My guess is that FFR are probably now rolling with this one now that Hope's actions are probably now becoming clearer and they'll likely get a decent enough outcome.

Think some people are being a bit pessimistic. Before we heard the court appeal news there was reason for it but now I think things are looking a lot better. The company is still a going concern, once the court business is out the way as it soon looks like it will be then there shouldn't be much standing in its way. Good money is coming in from the oil revenue and the company would be quite straightened out with the new loan. From what the court appeal says to my mind it's essentially telling Hope to come to terms with FRR on an oocs to his experience rather than theirs.

I thought the court stuff had been done with the judge largely going in FRR's favour at the appeal hearing and a oocs being directed. Is it likely that the oocs is now agreed and the court date is mostly about the Judge being in agreement/signing off on it? Then this business is all done.

Well it looks like an oocs that is at least reasonable and most probably favourable to FFR is on the cards as to me from what I have heard on this board. Since the info blackout I assume we have been pumping oil revenue as usual, pretty much got the decent loan to pay all the loan sharks off and got to the point of all the criteria met on the oil field to meet the Majors requirements. If all sounds out within the next few days or weeks as it sounds like it should then FRR and we as shareholders are in a much more positive place than we were before. If as it looks FFR becomes a generally problem free company that is becoming increasingly profitable and has prospects then the shares will shortly be worth many times what they were, within a few weeks even.

I think the court issue was probably the reason why the big oil producing Major did not fully get involved with FFR beyond the MOU. Instead there was BH a service Major and even that was unclear how involved they were beyond the initial statement.

Once the court case is out the way we may see more involvement from the Majors. Any potential share buy out offer was likely a no go before the court case as of course a Major couldn't offer money for a resource indispute. They could end up paying a lot of money then find out block 12 has been lost in some silly legal wrangle and they would look foolish and seriously out of pocket.

We all wondered at the time why they were not getting involved more, now I think we know. It looks like FRR will get a decent settlement and retain block 12 as they rightfully should do rather than have it swindled off them. The big money loan to pay off all the loan sharks with their dodgy t&c looks like it is coming forward and of course to pay for field development. For me I am happy knowing the direction the court case is going and rough date involved of the latest it will be resolved by. That's all I hoped for in the first place so am more than content to wait it out. It's looking like FRR will be able to continue and rid itself of all these dodgy old loan agreements which along with the oil development should make it much more of a going concern for investors.

Great to hear the news from the court the other day :) Looks like this share may be coming back from the dead. Hopefully just a question of working through it all now.

Any venture for FRR into Ukraine they should be a bit cautious about. Russian tanks are rolling around on their borders. If there is an invasion it may become questionable what agreements/rights may be upheld. Then there is the question over whether it may spread FRR's finances too thin and/or take away from the profit of its Georgia operation/development.

I think the court case was probably what was holding the majors up as no point in investing in FRR if whether their ownership of its prize asset is questioned. Now that looks as it's been answered then the involvement of A big Major may be forth coming in the near future, perhaps even a good take over offer.

How come we get company updates as a Plc but not as a Ltd??? There must be some place or recourse for this surely? I don't think not far off two months since we had the Dec 24th announcement and not a whisper. I think the Chairman should spend a couple of minutes of his time to inform investors at least of court dates & basic stuff. After all as an investor himself he has no doubt far more than that, its basic common decency.

Halifax share dealers who I'm am with just said all shares will be transferred out of my ISA and into my sharedealing account automatically in due course. Makes it easy on me for once I guess.

I say current situation though we as investors don't seem to know what that is which is pretty bad that the company haven't even notified us of even the basics really. We should be told if a court date is pending and the day of it if there is one or whether the court date has been had and a decision made even if we can't be told any further than that. Neither information would compromise anything and is entirely reasonable that us investors should know.

To me I don't see why we all can't do well out of this company if everyone just played it straight. After all we are all only on this planet so long so only have finite years in which to enjoy the money. So let's not go around and deprive others of the benefit of their due investment so it can benefit to the many not just the few.

Well guys it's not looking too promising. Looks like we could be suffering more pain with a delisting.

Would rather like to hear something from our esteemed Managing Director as at te moment we have information blackout. I can't believe that after a month there isn't some information to impart if only by twitter. We still seem to be short of an explanation why Cairn resigned which after nearly a month is strange and we're supposed to appoint a new Nomad while not knowing why the first resigned? ?? Bizarre, if it's the court case we should be told about it. I don't think Zaza expected the issues with the Nomad, etc as he himself bought a lot of shares only last year at a higher price than they currently are. So if he had any inkling things were going to gO bad he would have not invested/sold shares.

I'm thinking the thought is that frr will come good soon once a new Nomad is found and the court case sorted in favour of frr. At the moment though it would be rather nice to have some information come forth as to an update and how we are headed.

Well guys it's not looking too promising. Looks like we could be suffering more pain with a delisting.

Would rather like to hear something from our esteemed Managing Director as at te moment we have information blackout. I can't believe that after a month there isn't some information to impart if only by twitter. We still seem to be short of an explanation why Cairn resigned which after nearly a month is strange and we're supposed to appoint a new Nomad while not knowing why the first resigned? ?? Bizarre, if it's the court case we should be told about it. I don't think Zaza expected the issues with the Nomad, etc as he himself bought a lot of shares only last year at a higher price than they currently are. So if he had any inkling things were going to gO bad he would have not invested/sold shares.

I'm thinking the thought is that frr will come good soon once a new Nomad is found and the court case sorted in favour of frr. At the moment though it would be rather nice to have some information come forth as to an update and how we are headed.

Would be handy to get a new Nomad sorted before the 24th, this Monday perhaps. The hearing was presumably held on the 17th regarding the court case so info perhaps regarding that via twitter maybe if needs be? At this point I think delisting would be an inconvenience best avoided if at all possible. I hear once delisted shares can be traded again anyway but is not quite as straight forward a process.

In my eyes Zaza hasn't done anything other than show he's a straight up guy to date. I don't think he has misled anyone including investors. He himself has invested substantial money in FRR, earlier this year even. I don't think he would have done that if he was not sure on what he is doing. I'm pretty sure that Hope has not been acting in the company's interests, there is little reason for all of the court case otherwise. Essentially that Zaza/FRR were forced into ta king this action as no other route was left open to them by Stephen Hope.

I think Zaza/FRR will get at least some sort of positive outcome. The Nomad Advisor we all know will take a little time to replace. Hopefully some positive news on the court case will come forward by then some time in January with a bit of luck. For me the suspension of trading does at least mean the share price is not being hit further while we wait for more positive news.

I think positive news will come it's just a case of sitting tight and waiting it out a bit longer :)