Member Info for Sycric

It's ok, were not on AIM. If we saw a relist i would like it if we could go straight onto main market.
We just wouldn't be on the FTSE 350, unless the cap was over £500m

Special Dividend? Instead of the interim/year-end dividend. As its a Asset/Sale of a business (Exceptional case), i would expect share holders to receive a large portion of the profit made on it. In theory it was our money that did all the work to prove it up.

"A special dividend, also known as an extra dividend, is a one-time distribution of corporate earnings to company shareholders, which usually stem from exceptional profits during a given quarter or period."

In theory there would be an announcement to get the form, then a general meeting to announce it.
Only rule for private companies to do really, we are still shareholders after all.

I imagine no shareholder will decline the offer. (Special Dividend anyone?)

Nothing stops a deal being made with a major from what i understand.
The share holders would have to agree on a deal though for it to be actioned.

https://beta.companieshouse.gov.uk/officers/uZl4-qVGUWaBK3JdZy4zFMkg0Vw/appointments

Trying to explain what i say, so the company went under is a limited company.
Tesco has 178 of these to prevent the group going under. We just lost one of ours.... Don't worry about it.
See what happens..

As i keep mentioning companies are limited liability for a reason, the caymans island company is Frontera Resources International. Frontera Resources Corporation is Texas based and would not be shut down by caymans there will be different laws involved. Like they said in the court case. It would have to be actioned by an American court. It's the same as when Best Buy came to the UK, it done horrifically and closed. That would of been another limited company protecting the main group.

The case is still carry on, the employees still work, the wells are still making money.
Until you see it on the website just ignore the noise, as YJ said... Court is still going.

He doesn't mean the newer trumps that kids were playing in 2000/10, he means the original i believe.
I might be generous and say 70?

If all is continuing it proves staff etc are still on the payroll also, liquidation would of ceased operations.
Full steam ahead.

As I mentioned previously the PSA is older than the company set up in the caymans. They must of transferred it after, from the group. Seeing it was orginally on there I think there is a real agruement to transfer it back.

IMO PSA if sat on the cayman islands company, can be moved. The PSA was taken out before the Cayman islands company was even established so it must of been on another company prior. (most likely the group)

I thought it was they wanted to do it in London.

Well my main set was if they removed him off the website why wouldn't they of put a liquidation notice or anything on also. Operations appear to be continuing as normal.

Marathon not a sprint buddy :)

Not sure if someone has said it already but hope has been taken off the website.
https://fronteraresources.com/about/directors/

Morning Guys

Just noticed something that doesn't make sense why Block 12 PSA would be on FRI.
It was established in 14 December 1999, the PSA was in June 1997, (More reason why i believe it's the groups asset, not FRI.

I have however noticed about moldova, that was actually signed to FRI.

"On January 2, 2017, Frontera Resources International LLC, a wholly-owned subsidiary of the
Company, signed a Concession Agreement with the Government of Moldova (the “Concession
Agreement”) regarding the exploration, production and development of hydrocarbon resources in
Moldova"

Are people getting confused between the two? The Asset in theory has always been the ownership of FRC
(Frontera Resources Corporation) and not FRI (Frontera Resources International)

IMO

I dunno what the worse case is here, if the cayman company has got the asset. Caymans are subject to UK requirements, so... "When you liquidate a company, its assets are used to pay off its debts. Any money left goes to shareholders. You’ll need a validation order to access your company bank account."

So if this asset is worth billions i will be awaiting my cheque in the post.

I'm no laywer and am unsure where the asset sits, but the company in which hope has his contract with is a limited liability company. So it would be isolated to that company and not affect the group overall, this is a typical set up of most companies.

If all was lost why would we even continue the court case, we wouldn't even be able to fight it cause we would have no income/revenue to pay the bill. Still confident, call me crazy or an idiot. Things are never straight forwards IMO

"Notice of Notification of Parity Lien Debt Default under the Collateral Agency Agreement dated on
or about 20 December 2016 among Frontera International Corporation (the "Company"), Outrider
Master Fund, LP ("Outrider"), the Other Parity Lien Debtholders from time to time party thereto
and MaplesFS Limited (the "Collateral Agent") (the "Agreement")"

"Debt Default (as defined in the Agreement) occurred on 10 October 2018 as a result of Frontera
International Corporation failing to pay interest due, either in cash or by issuing ordinary shares of the
Company to Outrider"

https://beta.companieshouse.gov.uk/company/FC022206/filing-history

Look at the initial set-up, SN already have the other companies set-up in Texas. This is a limited company of that group.