Member Info for Phil_2018

Maybe RR was so successful with his ramping that he made SN think to invest the $14 million of trust fund money lol.

Imagine VN reaction when she found out that $14 million was missing from the trust fund. Probably had a meltdown over seeing that I wouldn't be surprised, I wouldn't blame her, it must have come as a terrible shock.

So what wealth remains with SN and the Nicandros family at large I wonder 🤔

I doubt this will do anything to save us as liquidation loans as in theory a separate issue on the face of it.

At what point SN realised that Frontera wasn't worth putting any more money into I also wonder. Near when the contract expired and no renewal could be negotiated I would guess. Then of course the Creditors moving to liquidation proceedings.

One wonders where all the money went too.

A crazy story. Sounds like SN really believed in FRR coming good if he put $14 million of this trust money into FRR. Looks like FRR had plenty of money put into it but it didn't come good. My guess is here that SN was making a gamble that he could put the money in, FRR comes good on the oil revenue, they get a new license from the GOGC, etc, FRR is then worth a lot of money and he can then repay the $14 million into the Trust I assume, plus possibly a bit extra to justify taking it out in the first place and make off with the rest & FRR as a successful company. Unfortunately, all did not work out that way and presumably that $14 million is now lost in Frontera, which is now soon to be liquidated. Something I can understand VN not being at all happy about, a lot of family wealth down toilet.

Lifeishard, at least I try and bring something to the table. If we sit around and hope on wishful thinking then it looks like we will be disappointed. The Pope has just died but many on here have been looking for smoke signals for a long time lol.

Thinking and suggestions can be the start of taking action however long they may be. If you want to be lazy and hope for others to do the work for you in your favour I doubt that will come about. We are apparently soon to be liquidated then end off, no one really cares about our plight. I'm not really a pessimist but a realist and the realist tells me that unless big action is taken we are screwed. There seems little want for big action here so we are left with pessimism, all except you of course who seems to prefer to be oblivious to it all.

My only other contribution is for those here still interested in shares is to look for other shares, do your research and again don't count on anything. I also wouldn't put much money into it. Some here have lost a fortune it is looking and I doubt they are feeling at all optimistic.

That was just strange Lifeishard. I doubt it's going to end with a happy ending here unlike at the end of the song you linked too unless you know something I don't.

GLA - Good Luck All, lol are you joking Lifeishard. Were about to be liquidated as a company. It's like being on a train with everyone seeing our the window an inevitable train wreak and someone shouting out GLA just before the trainwreck occurs.

While I admire positivity Lifeishard I see little reason for it here. Frontera's contract has already run out on its time period. I seriously doubt that Frontera had a tender offer in to win a new contract and even if it does I doubt it stands any chance with no finance and about to be liquidated. The news article you state isn't particularly linked directly to our situation, probably not even indirectly either.

I suggested a course of action but there was pretty much no interest for it or I got the impression any other action. So as it is we are left to drift towards the inevitable it seems. For some reason there seems to be an impression that someone else will intervene to help us out of this situation as we don't wish to do anything, I don't see that happening.

Why Deloitte are taking so long I don't know. They said something's about some reasons if this I recall but nothing hopeful for us it seems, just a wait for the inevitable to happen which will surely happen sooner or later.

I don't hold any grudge and this isn't supposed to be any go at you Lifeishard, but I think you have to be realistic and accept the inevitable, that liquidation is going to happen and that's it. I don't think you are doing yourself any favours pinning hopes to this or that. I am usually quite optimistic and have often been with regard to this share aside from when realism was to the contrary. Unfortunately there is nothing to be optimistic about in this share now and only realism and yes probably even pessimism. So in general it's probably better for all of us to look somewhere else for optimism.

"Maybe…… just maybe things might swing for us yet folks 🙏

GLA real holders"

Lifeishard, it's over I'm afraid, you are clutching at straws. It may not have been listed as liquidated yet but it's only a matter of time and will surely come before too much longer.

There will apparently still be Frus though apparently not owned by anyone so we hear lol. So there will always be that to hold onto even though we don't own it and it's not looking like anything will happen there.

You might just want to save up some money to throw into another share that may prove more productive to talk about, this one is a gonna. Nothing more to see here.

I would personally though be interested to see who wins the Block 12 tender if that ever gets restarted soon. If whatever company wins it can be invested in at a decent price and the terms of the tender look reasonable then who knows.

The problem with FRR was that they took far to long over proving up the resource. They then tore themselves apart with infighting and ruined the company by not paying Creditors on time amounting to lots of pointless court cases. Why they got so concerned over the Hope loaning them money for a larger share of the company thing I don't know when the company only had a few years left to get the oil out anyway, ridiculous. If we went along with Hope we might have gotten some money back for our shares after least. Even if the company was more transparent about it's poor financial state and the money needed a further rights issue might have raised the money to keep Creditors away and develop the field some more. Possibly it looks differently from the Directors side but I would say the company has been mismanaged. At one point we had a MOU and seemingly keen involvement, but that all vanished. How that could have been allowed to happen I don't know.

Anyway, that's all I can say, better to move on. Find another share & research it well. Better than hoping on for something that is going to disappoint before too long now.

There seems to be little other idea to go with, unless anyone else has any offerings? If you don't support the idea then fine. Perhaps it is not a goer in some way, I don't have an in depth knowledge in this area. Others here seem more knowledgeable than me here which is why I ask for others input.

So does anyone else have anything to contribute to this idea? Opinion, suggestions, good idea? bad idea? All would be welcome. After all we need to establish if there is any much support for this idea, and a basic idea here would be handy.

Again I am not sure what your stake in FRC is Looked, but you aren't offering any suggestions as to course of action but seems content to sit this one out until it's all over for FRC. Perhaps there is no other path but you seem content enough to sit this one out until the inevitable.

While your indirect messages from the company have been welcome it seems like it has left many of us pondering, 'who you are?' You are happy enough to pass messages (hear say?) on but I am not sure I ever remember you proposing any action at any point? Interesting that you seem only interested in one and not the other.

So who are you? I will do a scooby do unmasking moment, I'm going to unmask you as SN, am I right?

After all who else would have a continuous steam of information on what has been for a while a company with no employees.

Sorry, repost error, some issue with the site.

I appreciate your input and response Looed, but it obviously makes sense that the most capable person wishing to do so approaches Deloitte. If you don't see any go in this idea then so be it, maybe someone else? As said I don't have nearly large enough shareholding or background in financial services to be well placed to approach Deloitte.

What of your position Looed, have you much in the way of shareholding here? Have you decided it is the end and nothing worthwhile can be done to avoid the said seemingly inevitable wipeout here?

You don't have any interest in trying to save your shareholding here Looed? If you have any better idea I would like to hear it?

Myself I don't have the background or experience to connect to such parties as Deloitte. I am sure there are more capable people here on that front who have worked in the financial services who would likely stand a better chance of coming across better to them than I. I also have a relatively small shareholding here so it would be more appropriate for someone with a larger stake in the company to approach Deloitte than I. As far as Creditors are concerned the main company FRC would still cease to exist so they can adjust their books same as. However, some money may be gained from moving the share register over (Date if needs be) if a sum were agreed with Deloitte with shareholders for Creditors.

Again I am not saying this will all work out for shareholders or is the best course of action. It's just something I punt out as one possible course of action. FRUS might turn out to be of no use to us shareholders who knows I can't guarantee anything but if we do nothing then in a few weeks time our shareholding here will be wiped and then I assume it will all be over, everything absolutely lost.

You don't have any interest in trying to save your shareholding here Looed? If you have any better idea I would like to hear it?

Myself I don't have the background or experience to connect to such parties as Deloitte. I am sure there are more capable people here on that front who have worked in the financial services who would likely stand a better chance of coming across better to them than I. I also have a relatively small shareholding here so it would be more appropriate for someone with a larger stake in the company to approach Deloitte than I. As far as Creditors are concerned the main company FRC would still cease to exist so they can adjust their books same as. However, some money may be gained from moving the share register over (Date if needs be) if a sum were agreed with Deloitte with shareholders for Creditors.

Again I am not saying this will all work out for shareholders or is the best course of action. It's just something I punt out as one possible course of action. FRUS might turn out to be of no use to us shareholders who knows I can't guarantee anything but if we do nothing then in a few weeks time our shareholding here will be wiped and then I assume it will all be over, everything absolutely lost.

You don't have any interest in trying to save your shareholding here Looed? If you have any better idea I would like to hear it?

Myself I don't have the background or experience to connect to such parties as Deloitte. I am sure there are more capable people here on that front who have worked in the financial services who would likely stand a better chance of coming across better to them than I. I also have a relatively small shareholding here so it would be more appropriate for someone with a larger stake in the company to approach Deloitte than I. As far as Creditors are concerned the main company FRC would still cease to exist so they can adjust their books same as. However, some money may be gained from moving the share register over (Date if needs be) if a sum were agreed with Deloitte with shareholders for Creditors.

Again I am not saying this will all work out for shareholders or is the best course of action. It's just something I punt out as one possible course of action. FRUS might turn out to be of no use to us shareholders who knows I can't guarantee anything but if we do nothing then in a few weeks time our shareholding here will be wiped and then I assume it will all be over, everything absolutely lost.

You don't have any interest in trying to save your shareholding here Looed? If you have any better idea I would like to hear it?

Myself I don't have the background or experience to connect to such parties as Deloitte. I am sure there are more capable people here on that front who have worked in the financial services who would likely stand a better chance of coming across better to them than I. I also have a relatively small shareholding here so it would be more appropriate for someone with a larger stake in the company to approach Deloitte than I. As far as Creditors are concerned the main company FRC would still cease to exist so they can adjust their books same as. However, some money may be gained from moving the share register over (Date if needs be) if a sum were agreed with Deloitte with shareholders for Creditors.

Again I am not saying this will all work out for shareholders or is the best course of action. It's just something I punt out as one possible course of action. FRUS might turn out to be of no use to us shareholders who knows I can't guarantee anything but if we do nothing then in a few weeks time our shareholding here will be wiped and then I assume it will all be over, everything absolutely lost.

Sorry finger accidently stabbed the post button.

2). At the same time establish with Deloitte where the Data actually is and if it is not assigned to FRUS can it be done so it is?

3). If possible try to find out why the Data has supposedly been assigned nil value by Deloitte.

That's about it. If you can think of anything else Looed then I would be happy to hear about it. I just can't help but think that SN isn't just going to give up and walk off from this one. I don't think he is going to do anything with FRUS, but I think he is probably likely to set up a new company with something like the Data in hand or maybe an agreement with the GOGC to get at that oil & gas.

Looed, what I am suggesting is:

1). Someone here approaches Deloitte and tries to establish whether they can move the shareholder register and if so at what price?

2). At the same time establish where the

****nal, there is nothing worth saving in frus from sn's point of view. he likey wants to see frc liquidated as then the data as discussed below he can apparently lawfully make off with. he likely doesn't want to save us shareholders in frc, frus or anything else as like creditors we are now a liability to him/the company as we come wanting a share of the pie but no money as that's all been used up. so for balance sheet purposes it's better if him to start up a new company and not take us shareholders with him and him wave bye, bye to us along with frc's creditors.

time to fall in that we have been had, you can come out of that darkened closet where we have been told to wait patiently for it to come good before frc is liquidated and see if we can do anything about getting our shares moved to frus. or we can just wait for the liquidation and then too late to do anything if anything can at all be done.

sn's worst nightmare is probably the shareholders taking action to get the share register moved over to frus plus data. if frus with the data is still operating then that data belongs to frus and he can't lawfully make of with it. he might well be on his knees now saying his prays that the liquidation goes through unhindered and he can then make of with the data, to the new company without us and then go straight to the gogc to do the deal.

i agree with zeron, that potentially a small amount invested here if needs be to get the share register moved over could save our entire shareholding and put us back in the game where we should be. it's not right that we get screwed over for our investment and not get our rightful share of the money that will be made in this. if frus is put back in action then potentially if it's the data that is the main deal here then it could be frus that wins the tender. i can't assure anyone of anything on this but wouldn't it be better to find out how much it might cost for deloitte to move the share register over to us, the cost spread out per shareholder may be small if enough shareholders were to be interested. i think this idea is worth discussing here and if agreed then one of us contacting deloitte to get an idea on the situation and let them know of our interest before it is too late.

Tabs, I know it's not something that will go down well after all we've been through, but possibly it's the only way. If we can get Deloitte to agree to a transfer of shares and to agree that FRUS to have ownership of the Data. Without ownership of the Data of course it would not be a goer. I think I recall that Deloitte said the Data was of no monetary value as far as considering assets were concerned, something like that but I could be wrong.

I still think the Data is valuable in terms of potentially getting a contract from the GOGC.

The good thing with FRUS is that it's not in the Caymans and so being based in Texas could be far more favourable to us so we are not cut out like we were with FRR in the Caymans.

It might still be a bit of a long shot but if we had FRUS with the Data and then were able to get investment if we were able to get interest of the GOGC on the tender which still needs to restart as I understand it if that is possible. Up to others on here and I am by no means saying it is going to work if it did happen. Potentially any further investment to get the shares registered over and the Data might not have to be all that much. If nothing is done though it looks all but certain that it's going to be a wipeout for us here in the next few weeks.

Sorry that was meant to have said in my message below to get Deloitte to transfer the register to assign FRUS to us shareholders. Odds are that is likely to cost money hence Shareholders would have to make a extra small investment. I don't know how that could be done, those that invest more an extra amount of shares or something. Someone would have to approach Deloitte if there seemed to be at least some support among Shareholders for this idea, if Looed was willing then maybe Looed. Contacting Deloitte soon as possible to let them know of our interest in such would probably be best as it looks like it's going to be wound up soon. This may be our last and only chance to avoid a wipeout but as said below no guarantees if it would be a goer or just buying a redundant company with nothing to it.

Guys, I'm with Looed & Aurora on this one, finally caught up with the reading but unfortunately the glimmer of hope seems to have all but melted away. No point hoping on when the facts seem to be more against than for.

My reasoning here is that the answers provided by AI below seem to suggest that SN, etc could run off and form another company and take the data with them without breaking the law or opening themselves up to a claim. So why the hell would SN, etc want to bother with FRUS when they can set up a new company, ditch us shareholders and take more wealth for themselves? Us shareholders just means that we dilute their share if they were to push forward with FRUS. We currently have no investment value as the investment is all gone. So we are of no use to SN, etc if he can legally go off, form another company and take the data with him legally. We are only now a burden of no value that he does not need, in pure monetary terms.

Georgia is a corrupt country, if someone wants the contract for Block 12 then all they have to do is to get in with the right people there, pay them off in some way/make agreements and happy days (for them) a new contract agreement is suddenly agreed.

I'm not saying that SN, etc will definitely get the contract as others might be up to similar but I think that odds are he might make a stab at getting the contract as he will have the advantage of the data and what is there to lose by trying?

The Trump administration I doubt will care about an all but extinct company that no longer had any sway as the money has gone for lobbying. Odds are the players are all colluding behind closed doors as to what can be sorted out for themselves going forward. We are unfortunately old news and of no use to anyone. It's not pessimism that I like to bring but here the odds of anything coming forth in our favour now look remote.

It is looking less likely that FRUS is going to be our answer that we hope for, particularly from hoping that things will be done for us. All I can think of is if Shareholders here would be willing to stump up further investment to get FRUS to assign us as the rightful shareholders of FRUS. That wouldn't necessarily guarantee us anything, we might just end up with a company of no use. Whether the data would then belong to FRUS or is under FRC during its liquidation who knows. There would of course still be the tender and further investment to gain the tender also. So an uncertain course and depends on whether shareholders are up for the gamble on that one.

Lifeishard, if Ukraine were to fall then Putin would continue onto the next country and so on. The next country after Ukraine would likely be Moldova or Georgia. My guess is that it would be Moldova first as it's a small country and so easy to tie that one up first. Georgia would likely be next as like Moldova is non EU and non NATO. After that (assuming he is content with influence over the Stans he might move onto a NATO member but he would need to rebuild the Russian Army for that, so that would probably be over a decade away, maybe in the 2040s. Taking Georgia would of course gain Russia more market share of the Oil & Gas market, so yes I think Russia would go for Georgia if the Georgian Dream didn't all but didn't capitulate to him.

Russia at the moment has problems, it's Soviet stockpile of Armaments built up over decades is now about exhausted of anything that is still salvageable. Russia is currently losing more Armaments at the front than it can currently build. So the pace of war could well slow over the next few months/year. Ukraine for its part isn't likely to get any more Armaments from the US after Biden's package runs out in about a couple of months. That leaves them largely with the UK/EU and anything else they can produce. So probably even stevens there.

Main thing is that Russia's economy is now bad and that will undermine their war effort as things move forward. Ukraine's best hope is probably in holding on for probably another year or so until Russia's economy hits the wall and it's forced to give up the fight. At the moment despite the above report Ukraine is holding on ok with Russia not making any significant gains and most crucially with Russia so far bogged down outside Pokrovsk and so far unable to take the city there which it's been trying to do for months. My thinking is that Russia no longer had the power to take Pokrovsk with conventional arms.

I would understand why certain things can't be said as any statement by the company on the record could become a legal issue. It's not at all definite that anything will happen, the subsidiary might just stay inactive for all we know.

I think in any case it now looks as though it's better for the liquidation to conclude as then that goes away so if there is then any room for anything to happen it can do so. I don't think it is something to expect at all, as after all there is no current contract with Block 12 and that's the big hurdle here as I see it.

So I guess instead of hoping that FRC doesn't appear in the gazette, etc as a good sign we should all hope it does appear in the gazette as a good sign lol. I personally still see it as the shareholders owning whatever reminds of Frontera whatever. Whether what remains comes to anything or is just overly hopeful wishful thinking on our part remains to be seen.