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It's a private company but the shareholders still own the company not ZaZa or SN.
So we can let the BoD finalise the CC and progress the JV (if cc is successful). If it is big as BP/BH think this is then we are in for a lot of revenue soon.
If they stop talking to us then we have the power to call an EGM and vote them off.
I agree that I think this is a holding move and will not be the end game.
THANK GOD FOR THAT.
Nothing wrong with a private company if it becomes profitable.
This tells me the funding is sorted (no need to raise capital by share issues) so lets get rid of Hope and go into a JV with BP. Happy to get a divi as a LTH so a lot of day traders are now locked in (what a pity).
Good news in my book.
Why is everyone getting hung up on the 24th?
If FRR are in discussions with a Nomad then surly they know the AIM/delisting process better than we do. Do you not think they (new Nomad) will not have been in discussions with AIM to agree an extension so I’m expecting either my shares in my SIP will be transferred to my trading account or they will still be there cop Thursday.
Will we get a RNS on Thursday – only if FRR have news that is relevant to business Hope/Loan/JV/re-Listing as they will not see UK tax laws as business relevant.
Puddy – he has negative history as a wind-up merchant so has no credibility. Stick with your own research.
PJ100 fully agree you should only gamble with what you can afford and always do your research. As an oiler its easier for me as my contacts in my old company (most know who that is) are very knowledgeable and helpful. So I stay invested and don’t give two hoots if we delist or not as a buy out will pay a great dividend. I trust the people I know and not those that throw out barbed comments aimed to cause unrest.
If this goes tits up (there are never any guarantees in investing) then so be it. Life will go on and I have only myself to blame but never would dream give other advice or gloat on others hard time. So you will not find me giving shorters a hard time if it goes tits up for them and FRR sorts out Hope and a certain company comes a shopping.......
Another for my filter list.
nice to see that confidence is high as most are only concerned of their ISA and the tax they will have to pay on any profit. First we need to get the SP up to put us all in profit and to do that we need to win against Hope, agree a 60M loan (might need some for any OOC settlement) get some oil out f the ground and sell it to pay that interest and lawyers fees, start the 2019 campaign with BH (profit share) and agree a deal with BP. This will take months and next years. ISA rapper will be available. Can't see the SP rising until that happens as the market confidence in FRR is not very high. Unless we can RNS in a few days a new Nomad, deal with BH and or BP/other major and 60M loan agreed then the SP will not recover to put into profit and the shorters will win again - I'm sad to say.
One thing that has not been discussed and will be is a key point of law. Did Hope join the BoD after the 2016 revised deal with Outrider was signed. If he did and blocked a deal to refinance then he is in dereliction of his duty as he should have excused himself due to conflict of interest. If he joined before the Outrider deal then he must have been part of the negotiation team as so could vote and have an active ongoing interest.
The judge would take this into account as he would the fact that FRR were in negotiation with O&G majors about a potential deal as this would be pertinent to the 10Mil commitment. He will ask the question did FRR try to pay or make efforts to raise finance to pay the 2M. If FRR can prove this (and also we hope), show that Hope effectively stopped any deal to do this. Subsequently FRR can show that they can raise 60M and therefore not a basket case of a company as Hope will try and claim.
All to play for but I feel that if we can prove manipulation and any collusion then the result should be favourable.
Just dropped in to see if any news not just speculation. We are all locked in and to be honest not bothered if we stay delisted until after the court case or OoC settlement. Delisted just means we can't trade but as a LTH I will wait for the outcome as this now can only go two ways. We lose the full box or we gain control of the full box as we shed Outrider. This might finally allow us to see inside this box and agree with BH and BP that we have an asset worth fighting over.
Waiting as a delisted company until this is concluded will only be painful to the locked in day traders and shorter as LTH all along were looking for a longer view of a JV/sale and not trade the small percentages. Sorry for those that need to raise cash now but you should never gamble more than you can afford to lose. So happy to not have an immediate Nomad appointment until we have a possitive/negative outcome (win or lose)
With what I know I'm happy to sit back and wait.
So we have the FRR Bod going from smart cookies to total dumb arse directors. Those who met and talked to ZaZa and Levan would not have them down as dumb. Lot of speculation but that is all it is until the courts meet or a OOC deal is done. We know how well connected SN and ZaZa are and also with the powers in the GG. Interesting that the licence issue has never been explained could this be an inserted poison chalice agreed as a back stop to scupper Hope getting his hands on B12. If so this would be a strewed move as Hope would get a company which he cant sell due to the dispute issue. I doubt the GG would look favourably on a Georgian led company been outed by a shark American who is looking to sell to the Russians.
Best post of the day and my sentiments exactly. I think that the lifting and reinstatement was a judicial head banging and telling both parties this could go either way. Sorry to lose jo as he had all our interest at heart.
Well hope you all can have the best possible Christmas you can.
BP will be p*ssed that the NDA has been breached and will call FRR to task but as its Christmas this will not happen until the New Year. Will it help the SP I haven't a clue as too many headless chickens are running around at the moment. In a sane world yes it will help but the dicks at SP who seem to get information prior to the market needs looking into as they seem to like twisting the information.
All I know is ZaZa is no idiot and to invoke a default he would have had legal look at this but interestingly their normal firm is supporting Hope and not FRR. So have FRR got doubts about their role in this (and previous actions such as advising on the Outrider loan arrangements). It will all come out in the wash and don't forget a company default generally means the licence becomes invalid and reverts back to the GG.
agree coggy
in a way I hope the wavering do sell on Monday as I have found a few coins down the back of the sofa ready to invest. As we have a loan in principle in place then I think we will be ready to pay off the outrider and the judge will look at this option as a good mediation option as this shows that FRR have an option rather than a full default.
I’m glad that the Christmas spirit is alive and well. Its nice to see that others are so concerned about us that the a willing to post a warning to us prior to the outcome of court case that we all should sell on Monday before we lose the lot. So I expect to see 10’s of billions sold on the open bell on Monday and for us to all raise a glass to our saviour. Errrr I just read his post again and he hasn’t read or have access to the signed loan agreement. I wonder if he knows its FRR taking Hope to court and not the other way around. I wonder if he knows to grant a hearing the judge has read the disclosers (including the agreement) from FRR and he agrees that it warrants a half day in court. I wonder if he knows that Hopes attempt to get it thrown out seems to have failed. I wonder if he know that Hope has to submit his defence no later than the 18th. I wonder if you (and your mates in SP) have an open short.
In the benefit of the season I wish you and the 3 others that ticked you up a Merry Christmas and a very poor new year.
Flakey if you want to sleep do not invest in high risk markets (AIM).
I know the O&G and the region so the risk is less for me. Jo the nomad is doing a great job and to imply he is favouring others over some is doing him a great in-service. He is one of the best Nomads we have had for all SH's and I know he has taken FRR to task on several occasion and ZaZa respects him and is in regular contact.
Put yourself in his position
UD2 is producing high quality gas and companies are showing interest and are all over our data room. The cement job starts to fail due to the high pressure but the well has done its original planed job. Does he tell FRR to notify the market but not say that we have majors talking serious intent as we will all be scrabbling on who what where and when. UD2 was never originally fit for production. He is an expert in Rules & Regs not us lot so let him do his job and stop implying he is bent. .
No its the Nomad I have met and talked too
UD2 is not a failure it was a play to get data but the cheap cement job was not up to the PRESSURE so failed. But it got the Majors interested and talking. So tell me what was the nomad going to say......er you may not be getting gas to the network but it has got others interested. He had to play the news as he had it and waited for all of the facts.
The dynamics of the company has certainly changed as I looked back over a few years of my posting. Interesting to note that most of the quality LTH posters have always stated that this would be a stepped rises and not a instant riches (although years later than most predictions). I still hold to the opinion that we will rise only when we see facts and not just projections, twitter pictures or jam tomorrow statements as tomorrow never arrives.
SP is where it is as its a traders share and many are happy to take a few % and play the swings. Added that the market is still remembering the old failure promises days of FRR. The large seller has no logic as I often tried a dummy sells around these appearing and those that did not go to NT were at a slightly better price? So either he has a terrible broker or there is a transfer agreement in place. We will never know .
So those that are expecting an instant multi bagger are realising that this will not happen and some are leaving.
What will raise this as we were expecting great things when the directors debt was transferred to shares at 1p.
As a LTH I have seen many negatives attacking this share and suffered dilution after dilution but hindsight you can see the attempted manipulation and during a very hard times in the O&G industry the only defence to the BoD was issue more and more shares to keep the business afloat. ZaZa has brought a fresh and better way of managing the business and real progress has been made.
The closer we get to the goal the more the opposition played dirty from GG, YA and Hope/Outrider. Probably hoping the delay would force FRR to do a deal or go under with the protagonists picking up pieces and selling them off to the many sitting on the fence looking at the Georgian opportunity.
So we have BH on a profit share MOU, access to funds (60M new financing package – no easy thing to do and would have taken months to agree) to pay off debt and money to accelerate well development and BH are key here. This is not plan B but a positive step to increase the value of FRR. We still have a major in waiting as the Nomad would be all over this monitoring developments and any backtracking by them would force a RNS.
I expect a number of RNS’s over the next few weeks from Outrider news, AGM, 2019 Field development plan, Debt payment, Gas well plan (if not the major) to the news of the major coming on board.
TSBS After debt clearance what is left will fund several wells and start the infrastructure required. If FRR was doing this alone the Major would not accept the wells as being in standard unless they or an approved company(BH) did the work to the required standard. FRR are a hole driller looking for O&G not a field development company and any major investing billions in Georgia would want this done to a high level of build quality. Hence BH to take the lead in this.
This is positive news
A company will loan FRR 60Mil that will tell you that
- Loner is comfortable that we have tangible asset
- Outrider is not an issue or have any leverage on block12
- They see that with BH, FRR can realise a commercial field quite quickly.
The loner will have full disclosure to the data and who we are talking too and their leverage on the asset will be recoverable from a block sale to the major. Therefore, the size of the loan shows me that they are comfortable with the level of risk.
They would also demand to see the Hope/Outrider information and are willing to still offer a the package prior to the court case
They can see that the development of the field prior to an agreement will add value to the FRR asset – oil out of the ground is many more times valuable of that still yet to be drilled. The fact that BH will be doing he drilling will be written into any potential deal. Prior to this the asset wold be in the hundreds of millions developed in the billions.
I think we will see the GRQ guys leave as this will grow in line with the field development but I think the bad old days are behind us.
On the first day of Christmas FRR gave to me a jar of tiptree jam
On the second day of Christmas FRR gave to me two majors a signing
On the third day of Christmas FRR gave to me three years of testing
On the fourth day of Christmas FRR gave to me four to many trolls a trolling
On the filth day of Christmas FRR gave to me a five million seller a selling
On the sixth day of Christmas FRR gave to me six `shorter’s a shorting
On the seventh day of Christmas FRR gave to me seven black swans a swimming
On the eighth day of Christmas FRR gave to me eight MM’s a milking
On the ninth day of Christmas FRR gave to me nine years of waiting
On the tenth day of Christmas FRR gave to me an ten bagger a leaping
On the eleventh day of Christmas FRR gave to me eleven gas pipes a filling
On the Twelfth day of Christmas FRR gave to me twelve billion drums from drilling
One can hope ??
PM May now knows what it feels like being a FRR SH the amount of sh^^ she is getting from those with other agendas.
I would like to see those that told blatant lie on the extra money the NHS would get prosecuted as that turned a lot of votes to leave when the facts say we will struggle to maintain current funding when we leave.
Everyone is focused on the impact on the UK but some countries will suffer more.
The poor sods that retired to European warmer climes will be coming home if we hard Brexit as they will have to start paying for health care and other social services unless they take residency and become EU citizens. Then they will have a problem with UK state pensions. So a lot of houses will flood the market and prices will tumble. Again the fresh veg/fruit will have problems entering the country and will quickly go bad. This will damage this industry (Spain’s main industry) as their cash flow will dry up. Spain, Italy and Portugal are already basket cases and Germany is having political issues. This could be the start of a domino effect in Europe.
Snap
I also sent in a few questions around the unusual trading and high level cancelled trades around the time of the TW and mob shorting the share. Mainly to look into this and why have they access to privileged information about YA and FRR.
More the merrier I say if the SP mob can act as a group so can we.