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Im not sure when from but provided link
I think things look very interesting
it may take months for OOCS but i certainly do not think this is game over for us or FRR
Things look very much as thou, without interference that momentum may be increasing.
This of course would line up nicely with what Zaza said previously about Shorting of the company.
This was something that frustrated him hugely.
Maybe this is all coming together slowly but surely
Ps. I am not saying we are safe, as too many unknowns, however i still feel confident.
Something is keeping the lights on since before Xmas 2018, either revenue from oil, or that loan came through. Either or both mean we have life left in the old girl
Why does the guy in blue tie look familiar?
https://goo.gl/images/EGDKpS
Well with announcement by Ukraine about Frontera you have to feel that Frontera are working on behalf of BP
It would ALMOST appear that frontera go into the Eastern Block Countries to clear a path for the Major.
This is interesting .....
But if Ukraine wants real energy independence, this defiance is merely a stepping stone. Rather than simply rerouting the pipes, Kiev must tap into its own huge untapped gas stores. According to BP, Ukraine harbors 600 bcm of proven reserves, enough to cover its energy needs for the next 20 years. Yet the country has been neglecting these reserves ever since the 1970s, when the Soviet Union turned to Siberia as its primary extraction source. Today, it realizes just 3 percent of its deposits every year.
To address this problem, Poroshenko’s government plans to hike domestic gas production from 20bcm in 2016 to 27.6bcm by 2020. Efforts have already been made to demonopolize the sector, adopting EU rules guaranteeing equal access to all suppliers which should, in theory, entice new traders. Taxes on well-diggers have been slashed to encourage exploration, and an international auction on 30 new concessions is slated for this year
Now, now.
please do not try telling me you have learnt to use the filter?
I know you better than that fella.
You been gazing at that fire for too long
:)
happy birthday fella
Lets hope that we all meet up in London again this year for the relaunch of FRR.
How would this do for you mate?
OOCS - April 2019
Announcement of new loan and payment to OMF
Questions over how much money released from loan and where rest came from.
Consolidation of shares 100/1 May
Relisting announced and to relist July 2019
Production figures reveal significant revenue
Relist 3rd week July and same day information released about significant deal with BP over GAS
Baker Hughes / FRR release news on deal on oil after major progress over last 6 months .
SP opens at 50p and powers upwards to £1.80 by first week of August
(which is 1.8p prior to consolidation)
then it musts be greed that makes anyone go long or short on any share?
the fact is, you look at a share and take a punt, you either risk that the company will do well after research - looking at the potential, or you chose to short the share due to that same research.
That same risk is on every share on aim
The risk remains even on the FTSE100, although less risk of failure, the risk and reward are both narrower.
Some people invest in land, property or commodities like gold.
Its trying to make the money you have earned work for you
You either take a low profit profile, with low risk (although that can often lead to loses or occasionally full failure) or you take a bigger risk profile which offers greater reward potential with the higher risk profile.
Is it greed to play the lottery every week?
The chances of winning a life changing amount is by far more huge than here. The Chance is that the £2.00 you pay to get a ticket, will leave you with a piece of paper worth less than 0.00001p
So greed is not the right word, its gambling yes - but its investing at same time to give a new company a chance to become profitable by using your money to give it a footing on its market.
Unfortunately in recent years some directors have abused the markets to fleece money from investors, its true that some are not set u as a real business opportunity, but as a scam with no intention to make investors anything more than a loss.
No one here, or elsewhere on markets was forced to put money in. Short or Long
People made choices after research depending on if they saw that research as positive or negative potential. Whether Shorters or us investors stand to lose on this is still undecided.
Good or bad we can only blame our selves.
Facts are we defaulted and its in court to try to remove everything from us
Fact - that FRR have millions owed to them and have viable business in the ground
Fact is this could still go either way but an OOCS or another form of agreement is most likely.
I still believe long term this will end up becoming a very lucrative investment, but if not then i made a mistake and somewhere in my research i made that error. NO ONE pushed me into this.
This does not look like checkmate for either side, it has all the hallmarks of stalemate, so only compromise can assist both sides to come out with any value.
The only advice i can offer, is that people try not to stress over the result. Stress will effect your health. What will be, will be now. Stressing, shouting, moaning and crying will not change things.
Good luck to you all - What we could do with is some update by sleuths on how production is continuing perhaps using google maps to see that the lights are still on whilst we wait. News on that loan would also give some relief.
One last thing.
What a performance by Wales yesterday. Gran Slam?
Firegazer
I can not argue with that, what you say is very true
I also agree about the undertaker being on speed dial
Maybe BP are on speed dial too?
As for Saturday, what can i say. We are at home in our fortress. Wales appear to be not firing on all cylinders and England seem to be Turbo chargers.
This will be a test in deed and i can not make my mind up on who will come out on top. If you look at the France and Italy game you would expect performance like that will give England a strong and convincing win.
However History tells us that wales can often increase the tempo for what they need to get a win. I hope its a close game with Wales just getting the edge.
A grand Slam going into the rugby World Cup would be a strong marker for any side and both of these have ability to do that. One side will be on course to be the only side that could get the Grand slam by Saturday evening. Which One?
Enjoy the game
I said that post because it was called a ponsy scheme earlier
My take on this is lets wait and see first
We can look at action if this goes bad for us
We COULD look at Nomad and did they not carry out duties correctly
We could look elsewhere at information that was or was not shared timely
However lets not get ahead of our selves. Was info withheld to protect us from OMF?
We do not know. In fact if it was the case, then it stands to reason we would not know.
Lets calmly wait for this to finalise and then when we get to see the outcome we can format a strategy going forward.
If it goes well, that strategy MAY be to add more funds after re-listing and some possible fantastic news involving majors and forward plan
There again it may be what action we can take as a group to try to get justice.
Often people are accused of shutting the stable door after the horse has bolted, in this case i feel we are shutting the stable door before we put the horse in there.
Lets calm down and wait news.
I will be just as annoyed as anyone if there is not a plan and a good outcome, i will definitely be looking for revenge and retribution. However i still feel (rightly or wrongly) rather positive about FRR.
I think many are frustrated as they are searching for news that just is not there.
FRR have to be very careful what they do or say during legal ongoings. Thats painfully obvious. It's just the way it is.
I feel we should have known about the issue before it occured, but would that have not defeated the object if it was to catch Hope / OMF out. I do not think FRR could have RNS the following
WE are soon going into default with a loan, this is not because we can not pay as we have headroom to issue shares. The reason is, that by doing so we can exclude SH from the board long enough to get a major loan that he is blocking. The company will then use that loan to remove SH and OMF from the company as they are out to steal the company from shareholders.
Whilst this may mean we delist and a court case that may take some time to finalise, shareholders have nothing to fear. Whilst we are issuing information like this to our shareholders we feel we might as well tell you that BP are interested in the gas, we do have a NDA in place but what the hell.
As a company we did tell you we had two NDA's in place, We announced BHGE previously and now against NDA, because you insist and although its against all our interest to do so, we have now in this RNS told you about BP. We hope they do not mind. Please to not share the contents of this RNS with Mr Hope as we do not want him foreseeing this plan.
We have to understand that Zaza and the team sometimes have to use operational discretion to complete value in the long term for all. I can quite easily see why info MAY not have been shared, as frustrating as it seems.
This will be quite acceptable if the result medium / longterm is as i hope.
Aubree21,
I can not see BHGE having an MOU with FRR if there was nothing to look at, can you?
They have worked in the field with FRR so they have some understanding of potential.
Oil has and is flowing, some wells for many years.
BP in NDA , Over what? Something thats for sure, even if they decided not to continue they would not have a NDA with FRR just so Zaza and others can set up a scheme.
Zaza called UD2 a success, - yes its cement failed and so the flow of commercial gas into production did not happen, but Zaza stated that what UD2 proved was the big success.
For us Success would have been huge quantities of gas in production and money flowing in. However where was infrastructure to get it to market going to come from. It would take a large amount of money to transport that gas, compress it and input into pipeline. However its likley that the data gathered is sufficient to spark interest form the likes of BP.
I understand the frustration on here, but really we need to stay balanced as we wait news, it could be months away.
Whats keeping the lights on at FRR? I suggest production is holding the line. Maybe that loan is in place.
Maybe we are keeping fact we have the loan quiet, because we are keeping Hope Guessing, so that he can not second guess our next move. The element of surprise can become our best weapon.
Maybe Hope tries to look reasonable, by offering a deal he thinks we can not meet, but to his surprise we can.
We just have to wait, i hope in six months we are all here saying i was right. This is not blind faith. If this was a dead company the lights would have been turned off rather quickly. The info the Judge had seems to indicate that FRR is of some value and he has indicated both sides need to negotiate to help maintain that value.
Lastly, if FRR had nothing, why would Hope go for the company. Why cause default to then be given assets worth £2m, when Zaza could have put a loan in worth $5m and hope get $2m payment and more to come.
Think logically and you can see that FRR has potentially huge value. Will we see that value? I can not say for sure. However currently my thoughts are yes we will. It may still be a long road to start seeing any clarity
Mole i believe had private issues that he was giving attention too.
There is no news, so although i suspect Mole has a look in now and then, for time being whilst news is quiet he is probably attending what is important. Family !
I am quieter, too. Why because like this post all i can offer is drizzle. Nothing clear and nothing bright.
However i am still positive, i still have a feeling with all the info i have that this will come good for FRR.
The reason is Zaza stands to lose more than any of us if this fails, there was lifelines if he really needed them and so it would seem this was a well thought out plan.
1. To stall for time to get loan to rid us of OMF / Hope
or
2. Because evidence about something Hope may or may not have done is going to become clear.
If and when Mole knows something and if it can be shared without causing damage to the ongoing case or negotiations, i am sure he will share it with us.
Mean while most can see YJ are still following this Board and making comments. It seems they have either been told or are using discretion whilst case is ongoing.
loose lips sink ships guys
Any one want to shoot down my positivity, can do so. However positive or negative makes no difference to what will happen. It changes nothing. Its a long road on one that tries the patience of us all, but all we can do is wait.
If you want a positive here it is.
This is still ongoing, work is still on going. WE could have closed down for ever but right now we have not. I will not be counting this investment as part of any retirement plan, but on the other side of the coin, i will not be writing it off either.
Its all to play for.
I think firegazer is female
Just due to some vocabulary
Maybe Valentines day did not go as planned
Nothing said on here will change anything. It is what it is
Personally i am positive of a okay too good outcome before summer 2019
I can not see the point in being negative.
My advice is if you are negative and worried then right this off
The only change then can only be for the better or same
If you believe you have definitely lost it all then just except it, all the toys thrown out of the pram is just making a mess around you.
No one forced anyone here to invest, we all made adult decisions in an adult world
The rules have not changed
Never gamble more than you can afford to lose
YES - Aim is both an investment and gamble
Having said all that, i really would prefer not to have lost the cash i invested.
Maybe i am lucky that house i am selling still has not sold, saying that its costing me £600 a month while i wait.
I intended to put £10k in here from that
I am more than glass half full on this, i just can not see Zaza losing all he put in here so i am pretty sure there is a plan.
Anyway goodnight all and good luck - while we wait for news.
A mixed bag of sentiments today
Lets look at what we know
Firstly we know BHGE signed MOU and they already had idea what we had
BP are also interested, in what? how interested? what stage? and if still interested?
If company closed who gains?
Zaza, SN ad shareholders do not gain
Hope probably gains very little, may be gets his £4m back but who wants to lose many millions that you could have?
So its not really in either parties interest for FRR to fold right now
GG would most likely gain as they take the block back to resale.
They would not only be able to sell it to likes of BP, but also save with tax rebate not paid and get the asset commercially viable quicker.
BUT GG are not in court.
So the two who are may play hard ball for a while but end of the day neither would push so hard as to lose out completely.
I believe this was always about forcing the NY loan. A tactic to stall whilst loan sorted and away to get it sorted without interference by Hope.
The judge hinted at compromise in the papers
Now i would also be very surprised if Zaza risked losing all his money by going to Court without a number of plans in place. Plan A , B and C
Those plans may include
NY fund to pay off Outrider
Oil sales to pay off Outrider
Farm in agreement with cash to pay off Outrider
Etc etc
Everyone of those could be delayed for numerous reasons.
Zaza may or may not care about other shareholders, but he is aligned with us by having huge amounts of his own money involved.
This has OOCC or some form of agreement - with the court informed - the form horse.
Now the news and lack of news
YJ are trying to tell us they are still here, but most likely they have been told to limit information as it could very easily be used against the company. Loose lips sink ships.
When legal entities are involved say nothing publicly can often be the best action. It can cause legal issues, or just feed the opposition. If FRR have told YJ not not communicate for now, then as their PR company they would be foolish to ignore that, so let's give them some slack.
Right now - no news is good news, i can promise you if FRR was insolvent an hour ago you would know about it by now. We are just going to have to wait and see what both parties compromise on, every day that wait goes on the more money could be generated.
I suggest the NY loan had a set amount for the for paying off Hope, the rest from oil sales. The rest of the loan approx $40m would be used for operations to increase revenue. Matched i hope by BHGE
We were in a stalemate, needed money to take the block forward significantly. needed the block producing more to make the money to do it.
I still think this is a shrewd move by the BOD and although anxiety and patience is tested, i think without this the nails would have been in the coffin. I still think Zaza will end up being a hero here but many will never realise it. JMHO
It sounds to me like this was a previous ruling that those involved have been in Court today for compromise.
It basically says that FRR have no reason to fight injunction, i.e That there arguments are not founded
However direction speaks of compromise
Did FRR play for time to get funding?
Is that compromise that FRR pay Outrider in full plus any costs for case
I am not so sure that we have lost everything, but its not what we wanted to hear, Hope is in the clear, but we now still should have option to pay in full.
It was suggested in December that this could be playing for time to get that loan sorted
Was the loan completed?
Have we just lost FRR and all assets?
or
Are we about to pay off Outrider off and having a relatively small additional cost for Hope/OMF court costs just played a very strategic game of Chess
The interesting bit in that rather revolting court document is the bit about Compromise
can some one please explain the concept of a stay hearing and that document .
What a fella
This is whos advice i followed a few years ago.
he cost me half my holding here, although in fairness i made the decision to follow his advice
This Pen1s told me that oil would go down to $20 a barrel, guess what, he has stated that again tonight.
I guess if he says it every year the chances of being right one day have to increase.
Anyway, i am so pleased to hear him say bad things about FRR and that we are still doomed, as what this clown says is always the opposite to what happens.
The guy uses charts, and dismisses fundamentals like news etc, which is why his oil price and FRR calls have been so wrong. A few days after telling me i should sell as price will drop by 75% the price rose sharply by 43%
pharmajiles you are probably the worst investor i have ever heard from, and i can honestly say that if you say sell, i buy and if you say buy i would consider selling.
P.S after you disappeared for a while after giving me bad advice and you knew i lost a lot from taking that advice, i can honestly say i hope your FRR short gives you a taste of your own medicine.
Now open wide and drink up
Thanks
you are right i was looking it up while you answered
In fact its put as the best situation for a shorter
This sounds very good for us
I wonder if those Hope was telling to short have been contacted by hope and its bad news for them.
That ar3e h0le has been putting down the company for years, telling all to short it, even calling it a fraud.
Now rather than wait for zero he offer 0.6p for longs to get out.
Nice guy, obviously feels sorry for us and trying to help us ! lol
Every dog shall have his day, that dog had many but now its being cut down
7TH FEB
If anyone has a long position at IG & wants to close out, please contact me. IG have told me that they will allow those long to net off against those short if both parties agree, so no need to pay ongoing funding charges. I will pay 0.06p, which puts £40m enterprise value on #FRR
Can someone confirm what happens to shorts if the company closed down and went bankrupt? Would they get paid out in full as value of short - i.e. from the price they shorted down to 0
Or do they not get paid
I am asking as if they get payed out then this really does sound like desperate shorters trying to get out.
They certainly are not out to help those long, to get something back.
So can anyone confirm, if FRR lost would shorters have got paid out - we need fact not possibilities here
I believe in the Emails, that Zaza stated that the offer was withdrawn after Hope blocked it.
prior to that the BOD discussed it and it appeared that it was agreed in the minutes of meeting.
I would suggest that the 5m was the offer that if blocked would become catalyst to take Hope on.
Starage has suggested not alot in the emails to hang hope, in many ways that is true, its not surprising as Hope would have tried to be rather careful.
The emails individually do not have a smoking gun, its when you put them together that it indicates what Hope was trying to do and act against company best interest.
Hope really should have not vetoed the vote on funding.
In my opinion Hope should have abstained due to contrast of interest, he could point out to Levan the arrangement with OMF but not take part himself.
I believe the Emails ( when compiled to give full picture) are fairly damaging to Hope, but the smoking gun still is not visible.
I believe that smoking gun involves the shorting of the company, which of course makes future fund raising more dificult and at greater dillution. Many long term holders questioned forward selling of share that occurred for over a year.
It was not a huge surprise when YA were hauled in over foul play, what was a surprise was that no real action was taken against YA, plus that YA pretty much crawled back under cover.
What you would expect, if YA had done nothing wrong, is a strong statement against FRR to clear their name.
That did not happen.
What did happen is that FRR seemed to shake hands with YA and move swiftly against hope. I would suggest there is a huge clue there to what occurred.
So posters saying not huge amount in emails is fine, individually there may not be, but put together and in my opinion there is a better picture of the scenario. If Starage does not see that, it's fine, it's down to interpretation. Like i said already the damming evidence including the smoking gun is elsewhere and it sounds to me as if that evidence is compiled ready to execute in Court.
I said yesterday, that Hope would not be working alone and probably leaked company info, something that stopped since he got excluded in info sharing. Those others involved will be pushing hope to sort this before Court, he of course will be looking for assistance in any OOCS from those who's names want to stay below the horizon.
personally i do not think this will get to full hearing, but that lawyers and parties involved will take this down to the wire. The OOCS to FRR will increase as the deadline nears.
Just thoughts - nothing more
What a guy.
offered to lend the money to the company with huge interest to pay his own company
He certainly was not taking any risks, The money lent was coming straight back to him with more interest in future
Now if anyone wants to say that was better for the company please show me how.
It also covered 1 payment so next one would be harder still
This all kicked off with YA investigation that was very efficiently cleared up, so questions are what did that investigation unearth.
If Hope has been short selling or using insider information shared for short selling i am sure those others involved will be using huge pressure for him to setlle this.
They will not want their names dragged through the courts, it may mean for some a investigation leading to them being excluded from financial markets in future or huge breach of trust so work dries up,
I would not be surprised if Hope is talking to them after pressure from them, asking them to assist financially in any settlement. There may be a lot of clambering going on that we do not know about,
meanwhile , we have to take something from this, as the stages were being planned, Zaza said in Shareholder meeting that he only goes to court if confident he can win.
meanwhile Shorters need shares to close their short so as we are seeing, some negativity regarding both FRR and Malcy.
If they can cause you enough worry to except their offer then they have a get out of jail card. I would not be surprised to see the offer eventually reach the last SP before this settles. Those shorters will be desperate, i know what i may have lost, they have no idea what they could potentially lose.
So many companies on aim are poor performance
It used to be high risk high reward
Today - it seems to be
High risk - no reward
Companies with scams and jam tomorrow - MTV / TXO
Oil companies that have seen fraud by CEO and lies - GKP
Oil companies that searching for oil could not destinquish between oil and water or are losing more cash than making
Char and SRSP
Pharmas that are continuing to say next year for more years than i can remember with shares issued like confetti, mainly to pay boards members - VAL and PYC
Gas companies with gas that are in the countries where payment and corruption are huge - VOG
Companies that change their main operations and fail to make money RRR
Then you have miners about to become huge but do not XTR
Then we have FRR that seems to be the one that finds the liquid gold and has the chance to make shareholder value, but between a corrupt governments and agressive lenders may fall at the last jump.
I have learnt one thing
I will never play on AIM again, i have had it with this market.
The only people that have profitted from my investments are
CEO's
Market makers
Barclays stock brokers who get same fees paid even when my value is 10% what i paid in.
Its sad but due to failure of regulation by UK, AIM has become a sesspit and the whole point of aim has been missed. The market was set up to finance start up business which may or may not flourish. Unfortunately too many bad people have used this to con people out of hard earned cash. This will kill investment for legitimate companies in the future.
FRR is about my last chance to see value to my investments. I live in hope but hope is al i have.
Shorting should be banned, to me its criminal to have people pay to give a company a chance to become something, whilst at same time the same business investment platform - invites people to bet on the company to fail. Either the UK want to give companies the best chance to evolve and prosper, or we do not.
So i will not be playing on aim in future, my investments will continue without further funds until they close
Arbitration, should be carried out by someone / organisation with no interest in either side.
it has to be a fair mediation and if no real progress then law comes into play.
I would suggest that you look at it as a non FRR holder and ask what you would do, i would look at it like this.
Firstly has a timeline been missed?
Has progress been slow and if so why.
Did GG pay all monies owed, if not why not, then did that contribute to slow progress.
I would order that
GG pay in full all monies owed
That FRR then have 24 months to reach a set / fair production target with out interference
I would set penalties for FRR in loss of percentage of block for missed targets up to 50% if target was severely missed.
That would in my opinion be a fair and common sense judgement
That would be how i would see it and i would suggest any fair and honest person would see it
Unless there are more things hidden in the closet