Member Info for regdik

It seems that FRR have been preparing for the California CC for a while as they have prepared the litigation sheet and appointed a top end lawyer (I expect that the lawyer would have reviewed the claims prior to agreeing to represent FRR) this would not happen overnight as lawyers need to be booked months in advance. This lends me to think that they will not be on the wrong side of the Cayman judgment or OOC agreement. If they were then FRR would be no more as Outrider/Hope would take effective control (but with a fight to keep the licence without GG agreement).
Therefore, to commit to this level of litigation cost FRR must have had a nod that they will still be in business and have access to funds and or O&G revenue.
I posted a few days ago that ZaZa would be going for the jugular and I agree with those that think a Judgement/agreement to clear the Outrider debt has already been agreed and that the Sunday announcement of a California CC would be a surprise to Hope (and followers) as in court all will come to the surface – names and actions. This is a two edged sword as FRR dealing and actions will also be revealed (now that will be interesting).
So if we have settled with Outrider then this action will be targeted getting it all back with interest.
I have friends in California so might plan a trip over to attend the CC.

interesting find - why change horses mid race is there something fishy going on (sorry Piscean)
Did the judges rebuttal at the last meeting caused Mourant to cut their ties because credibility is a big thing in Cayman law. Stuarts web pages are more finance driven than Mourants which is also interesting.

The first we would know all is not right with FRR is that the workforce would be let go and we would see this via posts on twitter, Facebook and or Linked-in as we have enough sleuths monitoring employees via these outlets.
So if BH are doing their stuff and BP advisors are there to add expertise and all this for a company who’s future will be decided by a judge who seems to a bit upset with Hope and his team then might still be in play.
So is no news good news or bad
Bad news - then is all is lost and many of the workforce will be let go, BH would down tools and GG will look to rebid the licence. YA would not be paid and I see no sign of this only news of an active BoD and GG getting bullish on Energy.
Good news – no sign of this as yet due to radio silence as the CC is still open.
However, FRR are not acting like a failed company so have they a 60M cheque in their back pocket, do they intend to take down Hope and announce a relisting plan. This would in one fell swoop cause a great deal of damage to any open short. I seem to recall ZaZa has a passionate dislike of those who for many years manipulated the SP.
So the facts are we are a private share company that will require funds greater than 60M (and we can achieve by a number of dribbling oil wells) in the short term. We have an impatient GG, Ukraine activity and Moldova to start. To get a billion dollar company we need the gas to come on stream so we need BP and an accelerated development programme. In short we need a partner with deep pockets and a hunger/need for gas.
Timeframe – months not weeks IMO as if I suspect ZaZa wants his pound of flesh and the lawyers will want as much time (money) as they can get. So I expect a few more CC battles as one of them (Hope/FRR) will not come out of this alive so its a battle to the end unless an OCC settlement is agreed in FRR favour (I think ZaZa will accept no other result).

Roger, the difference is 400Mil and more. If ZaZa/SN lose then the Licence will revert back to GG as FRR will be insolvent to Outrider and not Hope. I have looked into the LTO and any change of ownership requires GG approval. GG will take back the licence and rebid the block and all of the FRR sunk costs will be lost (400M). GG would love this outcome. The majors would like FRR to continue as a JV would allow full recover of all and any costs with discovery and production. Hence they will wait for the CC ruling.

All I will say is from a comment from someone I know and trust (for a long time). .

Good grief
Just a quick visit to the BB as a catch up and what a desperate read.
I agree with Mole the dog is catching up with the car as I know that BP have been on and around the FRR site for well over a year and BH have not laid down their tools. They have enough deep well experience to make this a stonking field (gas and oil).
What did FRR add to the CC brief? Looks to me that ZaZa not only kept us all in the dark (as well as Hope) but then filled Hopes car with petrol instead of diesel.
I for one have not written this share off

Back to my life away from this BB (its fun try it) as it slowly slips deeper into the misery mire.

Did not think l had that much in it. Ever since l invested here the wife just wife just gives me pocket money and took my bank cards off me.

For those that are new or have concerns about security we are the same team that created and ran FoF less Coggy who for personal reasons decided no longer had the time to devote to FSG to the level he would have liked. Three reps remain Devex Mole and ToT supported chiefly by brgmg69 and myself as back up. Those that joined FoF can vouch that none of their details were ever divulged. We are a small team of LTH that share the view that giving the right support FRR can emerge from this complex mess and finally become the company we all thought it was when we became shareholders. FSG has stated it's aims and has started on the path of improving relationship and showing the BOD that there is a significant number of honest shareholders that are willing the company to survive and grow for all our benefits.

Obviously everything is hindged on the loan and removal of Hope and Outrider from our mist. I don't think we will relist on this alone as this will be the catalyst to finalising the deal with BP and turning BHG MOU into a production deal. I'm sure BH as a long standing prime contractor to BP will only be to happy to have them drill the gas bores for them (funny that they are already on site doing prep work you think it was planned). The loan will ensure FRR remain a viable company so takes away the licence threat.
Therefore l would expect a relisting on the full package on not just one milestone. If l had a short open l would consider doing a runner is and change my identity.
I

Yep I've read 1onic and others and lm afraid some of your recent unresearched postings picking out a very one sided view and not at all balanced. I will read what you post but do not expect any responses from me. Off to have a good night's sleep.

First rule on AIM trust only yourself and trust in your research.
Second rule there are no fairy godmothers ready to make your fortune
Third rule if people want you to do something it's for their benefit not yours
Fourth rule everyone on a BB has an agenda some to mislead some to protect their investment some to seek reassurance and some are keyboard jerks who like jerking off.
Fifth rule post only what you can back up or make it clear that is a personal opinion based on assumption.
Sixth rule be prepared to lose with grace as you are the only one you can really blame
Seventh rule making money is not easy but crushing others to do it will invoke karma
Eigth rule do not play by the rules as others will shaft you
So to others you may look like a good guy to some a bad guy all you can do is look in the mirror and if you see a prick you have failed the good guy test. If you can sleep then you are ITK.

Just to make it 100% clear Star
If FRR are not viable the licence reverts to the GG. Restructuring is a change of ownership which would also invalidate the licence as the catch all "fit and proper" will come into play as I doubt Hope/YA would be seen as viable field operators and they cant sell the block to others. GG would tie Hope up in court for years in Georgia till the licence runs out if need be. Read a LTO.
The Judge made it clear that the best outcome for BOTH parties was an OOC settlement. The judges last words are ALLWAYS his strongest. If no loan we all FRR/Hope/YA/Employees/SH up the creek without a paddle. Only winners are GG/BP/BHG (sitting operators) and those with a short position.
Oh by the way I'm still sleeping well

Star so you are saying that ZaZa/SN would get nothing and Hope/YA would get all …..Humm I doubt ZaZa or SN would vote for that. If effect if we are insolvent and being propped up by oil revenue and BoD putting their hands in there pockets and BHG supporting the field operations. So their only option is secure the loan and pay the interest and let outrider wait until 2020 to repay the balance. If no loan is not forthcoming the company is not viable and in default - all shareholders will get diddly squat and GG recover their licence (sell it to BP) and Hope/YA also get diddly squat apart from a few fracking vehicles and second hand desks. A Mexican stand off so Hope may not have all the cards in his hand.

No news?
We seem to be getting a lot of information but not from “official channels” but from PI’s investigating and shorters dropping information onto the boards after taking a trading advantage no doubt.
YJ are in a no win situation as they can only issue FRR approved notices
FRR hands are tied as they are in litigation situation and hampered by NDA’s.
It looks like they tried via Malcy but this caused a twitter storm and caused more questions that could be answered.
There is nothing we can do until we hear either we have gone bust or an OOC settlement has triggered the dominoes to start falling over. This is dependant on the loan being approved and an OOC in place.
Good luck to ZaZa and his team.
Go out enjoy this spring like weather and not read the musings of those with an agenda.

Hi 1onic have you looked into a mirror lately

Reading the judgement the judge seems a very reasonable and pragmatic person. The fact that we defaulted was a clear case to rule on. The judge made it clear that no one wins if FRR default and you should look for a OOC settlement and that the 2Mil is the ruling amount. It seems that by appealing FRR were looking for time to ensure the 180day EWT results were complete to satisfy the NY lender. Hence the RNS claiming were going to vigorously fight the 18th Dec ruling.
I think the stay was requested by FRR to allow everything to be tied down and loan backed plus an OOC agreement with Outrider to be agreed. Reading the ruling and especially the last words of the Judge (chapter 50) then if we are close this will be granted.
So where are we
Seems that everyone ITK knows that FRR are sitting on a prime asset
Hope has little chance of recovery if FRR fold as if Hope takes the company – ZaZa/SN lose so I see FRR defaulting to ensure Hope has nothing as GG will revoke the licence.

One thing is certain we are bystanders in this and nothing we can due until the fat lady finally sings. So I suggest that some on here stop making mischief or gloating and this only shows us the quality of the person you are – take a look in the mirror do you see someone to be proud of or the prick like the rest of us see.

Star you make a good tag team with Puddy Coggy will be jealous (or not .....).
Let's give it a rest until we see today's outcome
This be a none event if the NY loan is in ZaZa back pocket.
Let's say it was and today FRR said we take on board your ruling and will pay off Outrider. After reading the document l think he will bring down the hammer and make ruling in line with this outcome.

This is the slam dunk I was referring too the other day - 2mil ruling. As brg69 states we have been in front of the judge twice since then. This is very handed push by the judge for an OOC settlement and that interesting the judge agrees that FRR have significant assets and are not a basket case as some on here are pushing. So Hope to get anything need this OOC as much as FRR or we both burn.

Some very interesting posts yesterday that tell you more about the poster than the content of the message. I try to be balanced and factual and base my posts on what I see, read and experience. As a proven shareholder in FRR I also feel I have a duty to defend my investment against malicious attack or biased posting. I was disappointed to read one poster yesterday whom previously posted balanced and structured argument to one of selective extracts from old mails that supported only one sided hopeless outcome.
I agree that the 2Mil is a slam dunk win for Outrider (Contracts are factual)
The judge agrees that a case for the FRR counterclaim has merit and has to be reviewed.
So both are now linked – did Hope act against FRR and caused harm to the company.
Have we seen damming evidence in the email chain – NO but inference to yet unseen evidence is there in the chain. Therefore, drawing out specific one liners is a TW trick and disingenuous.

One thing is not been said yet and was mentioned by my sister (solicitor). Why has Hope not made a counterclaim against the BoD for reputational damage as this is the worst claim you can make against a company director and if proven he could go to jail and ruin his reputation for life.

1onic you are correct for the first time - BP would not talk about potential deals and I'm not ITK. However, I can and do know about current activities in the region and they can be talked about. The new jobs do not fit the current projects so a fair assumption that something new/additional is planned. BHG is a prime contractor of BP in the region. BP is gearing up activities in Georgia and the Regional guys seem quite excided. Will it be with FRR - that will only happen if as I said in a post last week they remain viable. However, all in all we will either be a busted flush or full house. One good for shorts one very very bad.

Noloss IMO its seems to indicate a number of guys not just one working together.

Off to golf now enjoy your day.