Member Info for regdik

Cheers Arsenal - I did once post do not feed the trolls so I will stop showing him/her up as it too easy. Off to the pub to watch the match

RatS seems is a good word it gives a level of ambiguity as since I read the liquidators documents - NOTHING more has been posted in weeks/months from them so who (not you or I) know what the current status is. The liquidators are professional and I would be surprised if they did not strenuously follow up a nil return of data. but I can't confirm this but you seem to imply that you are in the know. what a pr*k and poor manipulator of misinformation.

ratS are you that dumb
"trying to manipulate information for their own ends"
can you explain this in your post. How can anyone do this as if you have not noticed we are a private company and not listed.
Like talking to an idiot talking the Star sorry ratS.
But as with all SH's I hope you can recover what you spent on FRR shares

Selective reading again ratS. Point out where l day everything will be rosy and we will come out okay.

The word was seems and not has......a DoS in place in my post (only facts).
Liquidators are very slow if they are not chasing FRR

Star or I think we should all call him ratS as that may be more fitting. Most respected LTH have read all of the documents but unlike ratS keep a more open mind rather than think they are the gospel truth what a lawyer puts down on paper. Just to clarify for him that the submissions (from both sets of lawyers) are their view and only when we see a final judgement/s then we will see what is closest to the truth.
I would like to thank ratS for trying to educate those who have a different perspective from him for he has already several time indicated that only his view is correct. Ah! Maybe not all the time as he held onto FRR shares after reading the CC documents in December (buying more on the Friday?) when claiming almost immediately GAME OVER. But, this is a minor share in his portfolio but looking at his posting history he obviously has an obsession with FRR and to repeat and repeat the same drivel using the Trump mode of say Fake news enough times the people will believe it. I’m surprised that even stating that he has a NDA then going into with whom and why is a basic breach but as he/she is the special one he/she is exempt from redress.

FRR at this moment could be a basket case but somehow still trading and convincing others to extent they seem to have DoS in place (must have been done with some level of evidence or did the hard nosed liquidators just had a chat to those nice men in FRR and took them at their word).
This is a close call that either FRR will crash and burn or they will rise like the phoenix out of the fire.
Only time will tell and FRR are running out of time so not long to wait.

Half the picture again
Is it not true that in all cases the creditors sit above any shareholders (so why would hope still be after the SN/ZaZa shares) and in the documents that FRR are also chasing Hope for damages which could bankrupt him too if it goes wrong for him.

The arbitration issue must have been discussed with FRR weeks if months before the GG formally issued the notice. As I said last week this would be hard to win as any form of default Georgia has the right to remove the licence as they have done to other block holder in the past. IMO it is a GG bargaining position to get a larger slice of the pie as the US political connects of FRR is quite significant and they would not want to damage relationships.
So FRR were in the position of knowing a licence dispute was coming that would cloud the ownership (Impacting both a Hope land grab and unfortunately FRR outsourcing to a major). So the best FRR could do was undertake NDA’s/MOU’s with majors and get the block ready once the sledgehammer was removed (at a pace they could control).
Knowing this did FRR take advantage and used this to go into a default knowing that putting Hope/Outrider in a position of not being able to land grab the licence without clear ownership. I think after a long and expensive legal fight is reason coming to the fore and a potential settlement is now being discussed. This could explain the courts going quiet.
Some key dates coming up but how many time has that been said.
However, with FRR looking at other (expensive) prospecting option in Ukraine you would think that we could be coming to an end game and that future finance to fund this is known by FRR. If not ZaZa/SN have a large fine and possibly imprisonment coming next year if they fail to deliver DoS and pay their creditors.

What we can say is that the history with the Georgian Gov has not been the finest of supporting roles for a small company investing in their country.
We had them claiming that we had no O&G from the energy minister whilst promotes his own company solution. We have the delayed tax issue when they knew FRR were short of funds. At the same time Georgia wanted to be closer to the west and Nato so promoted that Georgia was a good place to do business to the US and attract the investment that would bring.
All that seemed to change as they realised that a little two bit company was sitting on a motherload of O&G and the new technology made extraction possible. They just had to look next door and see the wealth and new millionaires created by their O&G industry. Now everyone wants a slice and hence the Arbitration. I do agree with ZaZa that it would be hard for GG to take back the block based on tax or psa as one of the prime clauses is sunk cost are recovered prior to the psa kicking in (hence key date is the declaration of commerciality - prior to that is prospecting and test drilling). The way that they can take back the licence is FRR failing to invest in the block to agreed levels or them going bankrupt.
Lets look at this differently and as a rare positive against the Outrider situation is that the Arbitration case would take president over their claim to the B12 asset. Outrider lawyers would not get a court or liquidator to claim an asset that was subject to a prior ownership dispute especially with a sovereign state. Levan would know this. So was this sledgehammer to crack a different nut (makes you think).
In the mean time FRR are not dead have a money tree somewhere keeping them afloat and Hope changing his focus on claiming the BoD's guarantee shares as everything else has gone quite (for now).
Is this a masterclass of management or a company working in a fog of delusion - make your own minds up but one thing is sure is we can do diddly squat but sit and wait.

Hence FRR spend money on political donation to keep up the pressure from the US gov. to ensure GG play fair with American companies.

Who would gain....... Dolphins bid winning team as it discredits FRR and it's claim to success and funds. Russian influenced ?
Only one ratS on this board.

This cash issue was round someone posting that a major should have the cash in the bank to buy FRR. They do generate a vast amount of cash but they have liabilities to pay every month. So paying many billions of unplanned expenditure would cause a serious cash flow problem (to BP and other majors). There you are Star context to go with FACT.

So our resident misinformation man (others may call him other stronger words) is correct that BP hold less than 10% of their asset in short term cash or 17.54B (2018YE). However liabilities are over 141B for the year (or 221B in liabilities and SH equity). I can quote figures all day if needed.
This should not detract from Stars coming clean with his Cairns claims and the NDA he signed - some very sad people and I hope my detailed notes to the FCA (copy Cairns) brings some action and redress to those who are using misinformation.

We know that the TW gang bombarded the FCA with complaints about FRR/Cairns so why do we not all send in a letter to the FCA asking them to look into this as this is a serious breach of a Nomads regulatory duty. I’m sure they will look this and contact Cairns for their comment. We must back this up with reference to LSE BB comments (Starage/Zib....and others), dates and names. As the BB is a open discussion board and this boarders on collusion to hide financial wrong doings (NDA ...lol). If its rubbish I’m sure Cairns will be interested in pubic comments on there alleged wrong doings.
Fight fire with fire.
Might take us all a few minutes to write a mail but worth the effort.

Do not look at this BP sale of asset as a direct link to FRR potential gain.
BP are divesting old oil asset and Alaska is one of them (as was the North Sea). BP has lots of asset/licences yet to see a drill and may never see one. BP work to a strategy and will sell asset and look for new opportunities that will be sustainable and reduce cost and increase returns. Gas is more relevant to BP than oil so they are moving focus. They had old infrastructure in Alaska and were regularly fined for spillage/leaks so they in my opinion did a good deal for their SH’s.
BP do not keep billions in the bank as this is not good practice they would as some said rather buy back their shares. Every BP $ has a home and aimed to improve company value. As is the M&A investment plan and that is a long term plan. Any new project would require new money as projects are planned years in advance. So I see this as an indicator that this deal would have taken many, many months to finalise so any new acquisition would have to wait and be subject to many months of NDA agreements.
Will FRR gain from this – I hope so but BP are investing resource and $ in Georgia so feeling a bit more positive.

An interesting read on the BBC’s business page on the alleged illegal shorting of a companies shares. Reading the claims I almost thought it was FRR.
Worth a read https://www.bbc.co.uk/news/business-49316790

An extract
“The company said it conducted its research into the trading in its shares with Prof Joshua Mitts of Columbia University in New York. They used London Stock Exchange data to analyse trades immediately before and after Muddy Waters' research into the firm was published.
They say traders, as yet unidentified, used two strategies to try to depress the value of Burford's shares in order to make money from so-called "short selling".
? Quindell investigated by regulator
Short selling is when investors bet against a share price in the expectation that the shares will go down. It is not illegal but manipulating the price of a share is.
According to Burford, the first strategy used was "spoofing", which involves placing many orders to sell a company's stock at a price cheaper than the current cheapest price. These orders are cancelled before they can be completed. The aim is to suggest there are more sellers are in the market thus driving down the price.
Burford said the second strategy was "layering". Here, the share prices offered are higher and less likely to be met, but suggest again that a high volume of shares are available for sale, driving down prices.”
Ah! those were the days when we had shares to trade.

I have to agree with Prod that Puddy has history but having met him he is a big character and seemed well connected. A quick web search tells you that the film is being short in parts of Tbilisi during August and spending 5Mil on the location shoot. So they would be of interest to the movers and shakers in Georgia.
If they are moving on to Moldova then they have either lost the licence or had it transferred to others (JV/Sold). If they had lost then this would be news and announced in Georgia and another bid process announced. If it is JV/Sold they are in the hands of the 3rd party who would have priority to announce. So what else should we look for and I suppose evidence of others tooling up in the region (several are). FRR about to be flush and looking for other opportunities (Ukraine) and others knowing the block has gone looking for other forms of recompense such as shares..... Monday morning musing.

One weakness in the request is that a Cayman court has no jurisdiction over resources owned by another country. Georgian law clearly states that any licence dispute (or transfer) must be conducted in a Georgian court of law.
Just to add another layer of complexity.
Item picked up in request G
(g) make applications to, and seek the assistance and recognition from, the courts of
any foreign Jurisdictions as may be necessary in the course of their conduct as
JOLs of the Company or for the purposes of carrying out any of the functions
provided for herein.
This could take years.

I think that the Liquidators have realised they have been hoodwinked by FRR.
Never a dull moment.

The 2m is FRR debt. The case is against sn/zaza so can only be the share guarantee

The contractual guarantee for the loan was the half a billion shares and I cant remember being any financial alternative. I agree until we see the documents then this is just assumptions. But the shares are worthless if FRR are a busted flush unless he knows more than we do. why pay lawyers $$ to collect a worthless asset.