Member Info for regdik

Just a thought - If FRR win the case I think all SH (including those who sold due to YA actions) should seek compensation and undertake a class action against ALL involved. I would chip in a thousand or two to help pay for a top lawyer. Just for balance if FRR lose the case...... then take action against the BoD for misleading SH's.

duknweev19:51
Very good link and article too ToT. Interesting that the action was undertaken in New York and when you compare that to the US connections combined with the amount of clout Frontera now have access via various politicians and potentially Exxon, if rumour is proven they are one of the interested parties, with the amount of support they have in high places things could and should get very difficult for YA. And I think if legal action is taken against them it should also be extended to winnifrith and his insider dealing mob. They should be dealt with in the US too and made to serve time there. I seriously hope they will be extradited to face any charges. Its time this sort of action was dealt with severely and the message sent loud and clear to all those contemplating this kind of behaviour. As long as there is an appetite for this action, and I believe there could be, given the heavyweight parties involved on Frotera’s side this is the perfect opportunity to bring these people to task and make them pay for their actions. I for one will not shed a tear over their demise; they treat everyone with the same disdain and disrespect and I truly hope their chickens now come home to roost. If winnifrith suffers a few sleepless nights from now on, it serves the self-serving b’d right. Looking at the overall picture though and the recent events it does support the idea that this is all part of a constructed sequence designed to bring things to an end while bloodying the nose of those that have tried to play the game. Zara’s recent interview where he claimed to not know how the market works could well turn out to be a genius piece of game play. He is not that naive and I think he has allowed YA to play directly into his hand here. YA, in their greed failed to see how they were being played, decided to take the risk and have come unstuck in the process. Shame. Not. With this situation now becoming clearer and exposing the underhand tactics it lays the way open for the information required to get the share price to somewhere closer it should be. Meetings being held in the USA this week and London thereafter, news flow is inbound, removing the YA cancer to allow the recovery was necessary. Bring on news and lets see the share price where it should be

I agree with Dirk you could not make this up as it would be too far fetched even for a Trump to issue a Fake News statement.

So we have a standoff between FR and YA that the lawyers will have to sort.
What seems to be claimed is that that YA again took a flyer with shares they thought they were getting but not issued or officially allocated to FRR share holdings – this is illegal and I would hazard a guess that this seems to be inferred by some that this may have been done several times in the past. Did FRR bate a trap and payed late to trigger the discussion to the number of shares that may be allocated. Then payed in cash but YA (did YA reject payment as they had already sold them?) pre sold shares not authorised. Then YA asked/demanded shares played merry hell and also shares for September when FRR played hard ball ultimately YA called a default to force FRR issue an RNS (Nomad would have insisted) to get the shares to drop (presumably to buy back some of their short sale).
Now we find that the Winny dogs attacked FRR in force and inferring that somehow they were privy to insider information and private emails is that not insider trading and infers a link between YA and them for mutual benefit – is this not market manipulation.

Who do I trust
Hummm we have YA with history in this area and have what seems to infringed trading rules

Or FRR who have to have every RNS checked and verified for accuracy as these are legal documents. As a side note I have met and talked with our Nomad and he is on top of his game and I think he will due to content of the last RNS have it verified by legal.

Gosh I now think the fat lady has cleared her throat and is screaming rape!

I’m bidding for the book/film rights as it will be the next “Dallas”

Bugsy find last night of a second Oil auction by the GG in a few days @ 70 to 80K barrels in total dose seem like some one is producing and looks in excess of 1000bpd. This is a significant rise to normal. Some say it is not FRR Oil as its not the normal route to market for FRR.
However, if FRR have declared commerciality of the wells and not testing product then GG will want to monitor the revenue and ensure it is tallied and that the correct amount is offset against the 300/400M (arbitration?) value. FRR have a track history of not delivering production figures as they are “testing” results. So I expect GG are all over any production and will insist of their C&E people keeping accurate records. We may get a clarification during F2F with ZaZa.

Round one – YA hit below the belt and short sell shares – SP hits the canvas
Round 2 – FRR counter by releasing an uppercut RNS giving YA a major blow to the gollies
Round 3 – YA counter with a default notice and claim Aug and Sept shares instead of cash FRR SP hits the deck again.
Round 4 – YA press home their attack by calling for full repayment – FRR SP although groggy starts to recover
Round 5 – FRR lands a sucker punch with issue of a investigation RNS to fraudulent practices – Ya hit the canvas
Round 6 ........ watch this space

Oh...…. did YA also sell the September shares that they requested????

As usual a lot of speculation as the RNS was lacking the detail we would like but I expect that legal/Nomad had a hand in this and in case of litigation then nothing could be brought to support any claim.
However, why would YA want shares and Septembers also. Why not go straight to default in the first instance as untimely done.
Did FRR pay slightly late and spark all this off or was it on time but YA wanted shares due to the Major RNS announcement. However, I cannot see YA not referring to the agreement and soon as possible they opted for the share claim (and for September). Why shares in a defaulting company unless they know that something is going to happen soon and that will NOT be bad news as they had the cash for Aug (YJ statement) but they wanted shares.
Now we have an October Shareholder F2F so news of something looks imminent otherwise I’m sure would delay due to these extenuating circumstances.
A hold for me as I believe I can hear the fat lady clearing her throat.

There has been some whopping trades the last few weeks and I haven’t got a clue if they are buys or sell (but every sell will also have a buyer at some point). What is true we seem to have been held in a SP range which is counter intuitive to what should happen if a larger holder was dumping shares. I would expect that the sp would be dragged down much more than the present level.
Gut feel is that someone is loading up but for that to happen someone is offloading. Who can this be?
Not a PI as we would not get a price so close to the mid point.
YA could have some shares left but this does not feel like them.
It will not be the BoD as they have to notify the market at the earliest possible time as I’m sure the Nomad would monitor this.
Could be the ii but why sell at a significant loss when new of the majors should be released soon – not logical move.
That leaves the 2 service providers who received an obscene amount of shares a year or two ago. Are they raising cash to pay wages or did the strange description (and no web presence/telephone number of one of them) were (as some suspected) a shell company. Now these are managed offloads to persons/companies unknown or yet to be announced.
I doubt it will be a major as they have to notify the market if they take an interest in another company.
We live in interesting times with this share.......just hope that news is positive for the long suffering FRR LTH’s.

Did Coggy not say he took a taxidermy course - just a thought instead of upholstered.

Business is business and the MM’s 100’s of companies in their portfolio and they will have allocated accounts to traders who in turn will have a revenue target to hit. These account managers do not care if it is a buy/sell related to a short (or ramp) as long as targets are hit or exceeded as their next new expensive car is on order.
FRR must be a dream account for one of them as you have shorts in play and a seller that keeps dropping significant quantities that are absorbed quite quickly. They will know the broker selling and buying in all cases so a picture will emerge that helps them understand the account trading pattern and they will adjust plans to optimise the best returns.
The MM’s will not employee rampers or derampers as FCA will remover their licence and they do not need them as long as we have shorters, day traders and LTH in play as enough incentive to wind each other up.
Trading is a game payed with real money and will break a lot of hearts unless you try and do a lot of research and reduce risk.
FRR have a large band of LTH that have looked at the company/people/politics/market and decided that its worth a punt (as does Bod share trades, Outrider, GG, AC, US gov, ii, others investing in Georgia O&G blocks and now two majors looking at FRR “empty box”). Will this change the trading pattern or stop the shorts/ramp – no even when we get the news we have been waiting for – just that it will be in a different SP range. Business is business.

Monday to Fridays guys are back after a very constructive weekend of posts
Best put the little humourless troll in that empty box FRR must have......another for the filter list.

Remember the majors are not just negotiating with FRR but also the Georgian Government. I do recall several high ranking meetings early this year with senior representatives of Majors. I do think this is much further on than folk think.
So it will work like this
In principle agreement with GG (would now have been agreed)
Technical survey and explority licence (not needed as FRR have completed) but they will send in their own tech teams to validate FRR findings (2/3months).
If looking good a NDA will be agreed (complete)
A few weeks to agree an outline deal
Announcement to the world

So this could be only weeks away.

If you read a few RNS in chronological order on the UD2 then this “duster” was key to FRR planning and seems to instigate the Gas and Oil window separation.
Reading this from 2015 - the well required a lot of work associated from removing the packer, reworking the well, blowing the old pumps (high pressure) but the depth of the gas zone was found to be up to 2000m with 5.8Trillion cf recoverable gas at a well rate of 20mil cfpd. FRR planned a multi gas well campaign planned to start in 2017. Even ZaZa was excited and decided to risk a workover to extract more data and hopefully sell some gas (of extremely high purity) but as we know this “duster” crumbled due to poor Russian cementation under this high gas pressure.
So we have gas a the white knight for FRR then silence until we hear that we had to seal the well. Not because it was a duster as some promote but due to poor well foundation. However, it did its job and delivered data that took the interest of a major or two.
I still firmly believe that the gas will be the key driver as the current drilling also confirms not only is a lot of oil but gas is also present in commercial quantities.
Just read the RNS’s and this will clearly show the thinking in FRR, issues, hopes and expectations. The fact that it all became silent either indicates its not possible to commercialise the gas or it is but with serious money from a major or two. Last Monday we got that answer.

As an employee in IT&S (BP) I never signed a NDA until I retired and came back as a consultant then it was a confidentiality agreement not a NDA. But different companies called things differently. As I said yesterday an NDA can be simple or complex depending on the circumstances and believe me dealing with a Sovereign state is always complex. Confidentiality agreements for contractors are off the shelf but NDA's are lawyer driven in the case of M&A.

Projecting a 3d hologram does not require large processing capability but processing terabytes of data needs a big mean machine. BP used to fly in the data on disks as it was too large to send over the network 10 years ago.

sorry don't normally reply to these kind of mails but the title indicates what I wrote was un truthful and those that have seen my profile on Linked-in know where and what I worked on in BP.

I do not like putting value on assets as there are too many variables.

I expect that frr would want to get back there Georgian investment plus a mark up. Saying that I would expect ZaZa to drive a hard bargain but he can only do that if the data stacks up and that he can show that the zones can access the O&G in commercial quantity. If the majors like what they see and are encouraged but their home governments (US/China?) then I would expect that an offer would be forthcoming. As some have suggested the SP is being held in a low range (for quite a while) to allow individuals to load up. Why I say that is that FRR was prominently owned by PI’s and not II’s and they can be manipulated more easily. Hence the pressure on the BB by paid individuals.
However, they did not recon on a hard core of LTH that are waiting on the fat lady singing that have a rather large chunk of shares.

FRR have been collecting data from many wells over the whole field. Otherwise, NSA would not have been able to give a field report or a previous CPR. The 3 wells are a proof of concept of a production wells and these will be of special interest around flow rates.

Just to let you all know what happens to the data that has been supplied to the Majors.
The data is fed into a mini super computer and this produces a 3d image of the area around the well showing rock composition, pressure and minerals. The better (detailed) the data the better the images produced. Each well will be superimposed on the next and all of the EWT will add to the picture. This will produce a field picture (a projected image in 3d and is marvellous to see as you can walk around it) - BP call it the halo). This takes a lot of guesswork out of where to drill and how deep and therefore reduces risk and cost. This data collection is what FRR have been doing and I suspect the majors have been assisting and getting them to add further data to complete the picture as FRR will not have the equipment/expertise that the majors have - hence the delay and extra time required.

The majors that have gone into this (NDA) would only do this if there was a high (P70+) that they would get something out of this. Don't forget NSA have had the basic data (a few years ago) and come out with positive news on the gas and oil in the ground and now we have oodles more data and even Georgia are now convinced block12 is a game changer.

How long will it take only the majors know as they will have a total feel of what is there and how to develop the field. It may take Billions to fully develop the field so they will carefully study the 3 well drill/flow rates and then extrapolate that over a field - then you need to factor in politics of the region (at least that seems more stable). The market is there, the access to market is built and the cost of extraction is low.

Just a matter of sitting and waiting and not looking at the daily SP as if this comes off then we will be kicking ourselves that we should have bought more a lot more.

Have a good weekend

Only if a deal (of sorts) is done as it will be simultaneous announcement to both sets of SH and market. If no deal no announcement.

Depending on the complexity a NDA can be a very simple document or very complex. I suggest as a sovereign state is involved this could be erring to the complex if you add in the arbitration issue, two majors and splitting gas/oil flows as most wells seem to be producing both and who gets what % of revenue/turnover. Dealing with a majors legal team (in this case two) and governmental agencies (I wonder why GG merged them a few months ago) and their legal teams takes time a lot of time. So in short to enter into a NDA is not done lightly and can be quite costly especially when they are a lot of moving parts and parties.
As I said on Monday this is significant news

Yes you do Coggy 14000 You Tube clips and adds for your investment book.

eggstrodinary post but I think that FRR is no yoke but I hope we all don't end up with egg on our faces. I've shelled out a lot on this share and hope it wont do a Humpty Dumpty. A lot of posts have scrambled my brain today and I must be cracking up as I ticked up a Coggy post but as they say you can't make an omelette without breaking some eggs so off to boil my eggs for three minutes (ouch).