Member Info for SteveV

Very true. So that rules out BP, Exxon and Schlumberger.

Wonder who it could be !?

It could be Schlumberger. We have been told the two industry majors were in competition.

Would BH be "in competition" with the like of BP or Exxon.

Just wondering at what point does MOU become a formal deal.
Given either party can pull out of the MOU giving 30 days notice what we got so far isn't very binding.

I should think the MM's will be happy to keep the price around here if there are plenty of buyers and sellers at this level.

Sounds like "Industry majors " to me. The way Zaza says it ...stry sounds like "three"

The Primary bid funding was fine. Shareholders funding the needs of a company they are invested in.

Compare that with the "Death spiral finance funding" that Is the YA. That type of funding is guaranteed to destroy value for shareholders. YA sells stock and shorters help out with a no brainer short. The likes of TW have a field day.

Thanks Pyrotech.

1 At what stage are we currently at with the "majors" (timescale if poss.)
2 Are the "Majors" majors, or "Supermajors"

NO new information will be released.....They have TOLD us this

There won't be any news tomorrow before the meeting

Maybe someone going to the meeting could ask - Are either of the two a "Major" OR "Super major."

I don't remember news before the last meeting so I am not really expecting any.

All very well, BUT can FRR simply officially confirm or not if they made the August payment.

It's NOT a difficult question, AND is becoming very frustrating that we are still in the dark(officially)
I don't accept the word of an anonymous person from a PR company on a Bulletin board.!!!

I don't think FRR paid the August payment, even though YJ said they think they did.

The RNS could have easily stated something like "...FRR having paid the August payment as per the agreement with YA, were then served with conversion notice by YA in contravention to our agreement with them..."

Why didn't they say something as simple as that to avoid all the volatility and speculation?

Maybe FRR were GOING to pay at the end of August but were pre-empted by YA on the 28th Sept who served them with the conversion notice? So why didn't they simply tell us THAT in the RNS!? (to avoid all the volatility and speculation)

From the June RNS...

"..The Company and YA have now agreed that the redemption of the remaining 2,891 Series A shares will take place over 12-month period, on a monthly basis, for which the Company will be making cash redemption payments to YA of US$265,000 per month. Once so redeemed, the Series A shares will be cancelled. The Company has also the right to convert redeemable Series A shares into ordinary shares, at its option. The Company will also have the right to pay down in cash the entire redemption amount for the outstanding number of Series A shares at any point. ..."

Seems pretty clear there.

I.m still none the wiser.

Are FRR saying that they didn't make a cash payment in August and are not going to in Sept.
AND then the argument is about the AMOUNT of of shares YA are claiming (not the fact that they are claiming)?
AND as a result FRR have not issued any until it is resolved?
SO YA have said well we want the whole debt paid in full?

"....RNS could come anytime on majors they did say anytime in the next 60 days..."

Hottrader, I missed that. Where did they say we'd get an RNS regarding majors in 60 days?

Great rise this week ..thank goodness!
But it still hasn't broken out of the downtrend from last Sept. If it does next week then, maybe..? it will fly.

At what point in the process does the "major" allow themselves to be named?