Member Info for pyrotech

Hi phil, i hope your right
So your saying if we were liquidated today, that liquidators would be able to sell the block and make enough to pay off Hope/ OMF, all the court fees etc and even leave us with a payout that would make us breakeven or profit?
Sounds like a no lose situation for us!
However is it not the case, that Georgia would take back the asset and so it would be them to sell, not any liquidators?
I would also fear that it would on best case become a fire sale, not sure about any bidding war, more likely with Liquidators only requirement to be able to recoup loses by clients and courts costs, that any bid that covered that would probably be excepted.

The worry is any plan to satisfy the current cashflow is not 100% in their control. if its increased production rates we could have anything from mechanical breakdown to severe weather conditions that could alter the date we plan to satisfy any financial commitments. You also have oil prices, its again something thats steady now but not a controllable aspect.
If its buyout, farmin or JV that will bail us out, you can have any delay out of the blue. Engineers suddenly asking for further evaluation. request to drill a new well somewhere to confirm a data room analysis and thats before lawyers get involved and start pushing papers back and fore to change a paragraph sentence or word or confirm this or that.
So unless the signing is imminent it can be a very dodgy strategy where a third party can delay or even pull out at anytime.

However i welcome your positivity, just keeping it controlled as this really is a 50/50 right now with the information (lack of) that we hold

Theprodigy,

Unfortunately what you say is correct, but people do move on. Just change of scene or they have reached limit of promotion with current employer.
The fact they have left now suggests either they are desperate for some cash and not being paid has come to break them or more likely its as you say and one way or another things are imminently to come to a head.

I have used some sources to try to gain info and wait to see if i get a reply.

This again could mean any number of things.
1. Employees always looking for better jobs pay
2 Employees need to pay rent, mortgage etc and waiting no longer
3 A deal is imminent and these employees will be surplus to requirements
4. Lights are dimming and last one out to shut the door

I have tried contact on linkedin but without any luck so far

I suspect if a deal imminent they will stay quiet (silent)
If its end of the road i am sure one or more will squeal as a disgruntled ex employee

I do have some worries about the cash flow as there is one very dark possibility with what is happening with the cash for the oil from last 12 months. Its a thought that has worried me for some time, however it all comes down to if Zaza and SN have a plan for FRR to survive and benefit all with their cunning plan, or if they are stalling for time to just fill their own pockets.

I try to remain positive but its a very mixed picture right now and you can read what is happening in many ways.
Firstly, those employees have to see oil production to even believe they may get paid in future. If i saw production as very low i would down tools as it would be obvious that my work may never be paid for.
However not knowing the plan ahead, we do not know what Zaza and SN are working to achieve.
It has to be considered that its is possible they are selling oil to pay back money they have spent in the company, to prolong the production as long as possible to recuperate the cash for them selves, leaving hope to claim a shell of a company and millions of worthless shares .

The plan may be to use all the production money to pay off YA and even soon OMF. Therefore employees take some pain but will see gain with bonus and full payment soon.
Fact is we do not have a clue what is going on, any of those possible reasons would need secrecy for different reasons, as would any deal with 2,16.
Depending how you want to read this, negative or positive, is how you will see the possibility of any of the above being most likely. Personally i prefer to look at every single option that COULD be happening as that makes me look deeper into the fiasco we all face today. Only by exploring every option, are we likely to uncover the truth, unless FRR make a statement before we uncover it.

When that statement comes i hope its one we all want to hear, if its lights off, i want to know what and where the money and production generated has gone on.
Production and revenue has continued and a stalling process is in place, and that does have a reason. They would not continue this if it did not serve a purpose. It would be easier just to throw in the towel. So the question we need answered is, is this to save us all or the favoured few.

ooops

Sorry i started wrong and continued
Gipps

Gibbs, are we thou?
We were in arbitration situation, but as far as i am aware that has gone pretty much silent now.
Did FRR at some stage recently suddenly give data that pretty much destroyed the case. Just a deal done now to share profit and assistance for us to protect what we have.

So many things defy logic, we hear that the lights look like they will go out soon, yet you have workers employed , not being paid. They must feel that that pay will be coming or personally i would have walked months ago.

Critical for me is the BHGE situation, but that seems to be a locked away secret.
Surely thou, if BHGE had walked away that news would have leaked with the shorting crew.

Just working on the maths that Zaza gave at the investors meeting where he talked about the cost of each well and the profit from them. The situation snowballed rather quickly where i believe after 3 months 1 well paid for another, then when completed those two would even quicker pay for well 3 which then paid for two new wells to be exploited , so now doubling up as more and more profit flowed in.

I have to conceive that this was theory and problems occur but it did make perfect sense. The biggest question probably (why not do this 5 years ago).

Now i like this because it also proves the PSA alongside getting creditors off our backs. The beauty of it is, that since middle of 2018 we have had no production fiqures. What could we have achieved in 18 months?

I would suggest using Zaza's model (if it happened) then 6 or more extra wells in production now. Then of course if BHGE were to have also made progress maybe a percentage profit from them too.

All this proves is that there is chances that we may succeed and be nicely rewarded. we just need to remove that "may" from that sentence and replace with "will"
That would also account for the playing for time and be the plan that Zaza had all along.

God i hope this is close to the mark

It could be that we are making high production and the Staff have been asked to bare with FRR whilst that huge production makes revenue to clear debts. I.E YA and possibly even OMF.

That could be the priority to safe guard the company and the jobs in long term.
This of course would be difficult times for the staff, however they would see that production and light at end of the tunnel.

I can not see any reason why people would work without full or any pay for many months unless something told them they would get paid in the end. (Personally i hope with a bonus gift for Xmas)

Anyway we need to find out what BHGE are doing or not doing out there. Are they still working with FRR and if so in what capacity - any sleuths able to find out?

This i repeat does not look to good for SN and Zaza. Therefore FRR
However as many said today it could be playing for time.

I have no doubt the box is full, i stand by that. However its a case now of out running the wolf until we reach safety. Its a race to the finish line where although SN and Zaza may have clever lawyers stalling the process, OMF will equally be trying to hurry the process up.

I will not begin to guess who finishes first
Talk about the dog eventually catching the car ...as Zaza said in 2018

The problem is we do not know if deals with companies or GG are in the pipeline or not. Are Zaza and SN stalling with just hopeful fantasies of a good outcome or with a cunning plan and knowledge of a good outcome.

We are in the dark, but thankfully FRR still has some lights on, for now at least.
I worry that the legal system may move to quick and the samd in the timer runs out.

What is OMF actually trying to gain here?
If GG take away block 12 everyone loses except the GG, Hope wins a case with nothing of value. That really would be shooting himself in the foot. With that angle surely its in his uinterest to force a deal that benefits all to some extent. 5% of 500m is worth more than 100% of nothing.

I can not say today is positive as it risks the judge looking at FRR in a bad light if that clock runs down, i just hope that FRR have a strategy and this is all part of that plan.

Hope wanted shares, he would not want worthless shares so we have value , that i am sure. I worry BP if interested in Block 12 do not have quiet discreet calls from GG saying they get a great price if they wait.
I may not be quite as positive today, but thats how i feel. I still have everything crossed that this comes good for us.

We can paint lipstick on a pig, but its still a pig
FRR have not shown clarity and been open and honest with the liquidator and that is not a good place to be. A court will most often have many versions of a story from two or more parties. Where facts are difficult to concur, the court will often take in account any dishonesty from one party.

We could be playing for time, but thats a very risky strategy. Often it would be the case that FRR are not in control of the time for what is needed. Any offers from another company could be delayed for any number of reasons. The Gerogian Government may also not run a timeline to what FRR want or need. Meanwhile the sand in that egg timer continues to flow and that top glass starts to become empty.

If we are found to have misled the court on solvency then that would be frowned upon and the Judge could decide that things need closure quickly without further chances for SN and Zaza.
Hiding away like a ostrich with its head in the sand could be our downfall or a stroke of genius.

What happened to that large loan we had coming? BP, not 100% they are even still interested and no one knows if BHGE are still on site or not.

I am more inclined to fear the worst today. Although lights are still on, i fear they are flickering now.

This has weeks or months to go one way or other and i have no idea which way it will go.
Nervous but hopeful

I will give you one fact
Many aim oil companies on here, including Char, vog and SRSP
They are all listed and in operations
but ......

The board is not as busy as this one - a share delisted.
Interesting in a funny kind of way

Many reasons why people could be exiting the doors

I have to concede that one is of course because company is gone, the GOG taken back the block etc etc.
However those who have been here a long time will know that bad news flows much quicker than good news. In that respect i would expect that the implosion of FRR would be very much news if it had happened - probably before our sleuths found the moving of CFO etc.

We could be in a JV or Farmin where some jobs are no longer needed and so people become excess to requirements. Possibly on the brink of a Takeover or buyout, and again people being thanked and walking away with a golden handshake.

Again we are guessing and trying to read numbers (often having 2+ 2 = 29)
As far as i am concerned this is still alive and kicking until i hear from official source evidence to the contrary.
Ex employees would not all be shut up, they can not be threatened with loss of job, they have already moved onwards. So for a number of employees to be in a position to leak something and be negative about FRR and not doing so - suggests to me that there is no definitive negative statement to make.
Those pushing for news!
If we were about to start finalising a deal with BP, BHGE or any other big company, a leak that goes to their shareholders would be a massive trading tool, so FRR giving any clue about that would be suicidal. I think others are working the majority of Block 12 and FRR are profiting almost like a silent partner. I may be wrong.
Arbitration - again the silence is deafening , Did GOG suddenly realise that BP were involved and so pulled back at last minute with perhaps a sweetener offered by FRR in regards to tax owed or a small portion of editional cake from the block.
I can not say everything is fine and we will be laughing in 6 months, but today we are still in the same position as we were in January. Nothing has changed and until Arbitration, if went ahead, is announced and until results of final court case - that is where we remain. The other option is all debts payed off with a buyout including to Hope and OMF
Lights are still on and remember - you do not fight over an empty box.!!!

DRPs

Civil DRPs

Plaintiff: FRONTERA RESOURCES CORPORATION, FRONTERA INTERNATIONAL CORPORATION
Filed: 10/11/2018

Court/Case No.: IN THE GRAND COURT OF THE CAYMAN ISLANDS, FINANCIAL SERVICES DIVISION CAUSE NO: FSD 193 OF 2018
Allegations: THE PLAINTIFFS ALLEGE THAT THE FUND CONSPIRED WITH ITS PRINCIPAL STEVE HOPE TO CONTRIVE THEIR DEFAULT ON DEBT OBLIGATIONS.
Fine: $

In my opinion Investing in companies is about giving money to kick start a business. To fund start ups is the point of Aim market.
I am happy to put my money into a start up, to allow it to try to be successful as that is the whole point.
If that company fails but tries then i accept that as part of business .
If that company thrives then i make a profit by taking a risk to help that business start up.

I am not happy if a CEO makes a fortune whilst a company fails, it should be rewards for success and no reward for failure. That aligns Shareholders with the BoD
Then shorters, what kind of society tries to make money from attempting and wishing a company to fail. This is supposed to be all about investing. If people want to bet then you have the bookies for bets. The Uk is supposed to be a main player in the financial markets. Yet investment is eroded by the ability too short a company on the pretence it make a liquid market.
Its time shorting was banned, Investment is to help new business have a chance, shorting is utilised by financial institutes to make huge profits by attempting to make that company fail. That not only effects investors, but also real jobs for real people.

If this country wants to see future investors in start up companies the rules need to change. If not the money for these start ups will dwindle and less start ups will see investment in future.

We need a turn around and quickly
This is 10% of value it was over a year ago. A very sad state and mainly fault of management
Yes payments were an issue but lets face it the management should have had plans in place for not having all eggs in one basket. Some poor decisions been made including mine to invest in this with those who were on the BOD.

why is it that it seems they are doing quite fine anyway.

Crossed fingers for me

Yes i can
When your told say nothing it means SAY NOTHING
It does not mean be careful what you say

I would suspect that SN and Zaza are both fretting and worried as anyone, they have not only a fortune to lose, but also the dream that has inspired SN for ages.
Have mistakes been made? Yes i think so.
Is that fairly normal, yes it is.

Inherit, if as you believe, this has gone for good, why not move on and get on with your life?

I do not believe that you think its gone, your impatient and whining to get news. Your worried it has gone and i get that. the not knowing stops you from being able to put it away in a box.
We are all sat waiting for direction here, but most are waiting patiently.

I have said for years that you do not fight over an empty box and by god they are fighting over this. Even to get shares on a worthless company ? really
What direction this takes is hard to say as courts do not always go how you think, sometimes they appear to miss the points and all common sense, so risk remains.
However right now today this is a delisted company that still has lights on (but maybe nobody home)
Now who does that remind me of?

Wow
Firstly about keeping shareholders in the dark.
The biggest shareholders here are Zaza and Sn, they have as much to lose as anyone and even they may not know the actual outcome. they may well know the evidence for and against, they may even have the smoking gun. However how foolhardy would it be to share that with those they are fighting.
Then there is the "well they could tell us production or that all will be ok

Again production would give the other side info that would give a upper hand.
Then telling us all will be okay, that would be frowned upon as Court and SH.OMF would ask how can they possibly know that as fact and even if they thought it would be okay, none can say for sure.
Thats without the fact that legal teams would say nothing. Zero

YA not being paid? We do not know but YA seem content with what ever has been paid or agreed, we would soon hear if that was not the case.
FRR have committed to a court that they have ability to pay within 12 months. That means they have a deal in pipeline with a company for loan or T/O or farmin. Or they have significant production that is being increased with the profit being generated. It was said in a meeting that plan was that with cost of each well, we would snowball the increase in production and new wells opened quicker and quicker as each was put online.
This may be by FRR or even by BHGE, we do not know. Maybe we just have percentage of what others are doing on our behalf. Maybe BP are even playing with wells and data.

The one thing today is lights are still on, expect little to no news until 2020 and its prepare for worst but hope for the best.
Those angry folk on here with doom and gloom posts need to be a little more positive or move on. It is what it is a negativity will change nothing. If its all over than my share price remains same as today, if not then only way is up.

May be a problem if you did borrow shares on a long or short as you may lose out, but investors have a reasonable chance of coming out of this even or in profit. Who knows?

If and its a big if, we have a large payout and in form of dividend or shares what may the tax implications be?
Many had these in Isa or SIPP. Delisting caused them to go out of ISA etc which pretty much puts the tax man on a win / win situation.
If we had made a loss we could not claim against tax
If we profit we can not protect against tax

So can we argue these were in ISA or does Mr Tax man take 60% of profit now if this comes good.

Just in Case !

Hi Hull,
Thats exactly what i have said, that its genuine messages posted by you, we just do not know the context and reasons why they have made claims they have and reasons could be many.

here is images of sites
https://zoom.earth/#view=41.33105,45.99582,18z

Ok so we have twitter messages and probably genuine to all intense purpose. I also think Hullcity is trying to be helpful.
However - there are a number of reasons why employees may be released from operations.So they would need new work.
Firstly (Glass more than half full) If operations were at a steady stable rate it may be decided to not to further drill, so FRR employees could be released. This makes some sense as we went into MOU with BH. So we could be sat with BH doing all the work and taking share of profit. BP could also be looking at what we have with their own teams to gain data.
There was a NDA with BP and this was released in Court. We were told about BH this time last year. So this is very feasible.
Then why ex employees say little oil or gas?
Several reasons this could be transmitted - firstly if an Employee is angry at being released and having to uproot to a different country, they may be angry and dismissive about previous company. Two, The employees released may have little knowledge of reservoir volumes and may have only seen oil released whilst with 3mm choke. They may even have been removed from fields so that they do not have information the company feel is of high value and whilst BP or BH investigate under secretive negotiations and investigations.
So many reasons why the info Hullcity provides may be genuine yet incorrect. There is the chance that the messages are correct but that does not explain why OMF tried hostile takeover, GOG tried to take back worthless block and now SH / OMF try to go thru a costly court case for a worthless asset that if they win, FRR could not even cover their court costs. Makes no sense. However i feel happy to say this as it makes no financial difference to folk as no way to trade anyway

Some facts for you
We are currently at zero , rock bottom and it can only get better
Either company folds and at least we are still at same value (zero) but know where we stand

or
It makes a comeback and and value is above zero, either is better than where we are today.