Member Info for WHamBoy

Thanks Looed. It’s good to hear news from the company again, even simply a reiteration of past statements.

Life

I should point out that if my thoughts are correct, there would be the added benefit of certain undesirables being prevented from owning shares in the new FRUS and therefore they would be excluded from benefits of a large shareholder payout. In addition, by disbanding FRC, all liabilities owed to creditors would be wiped out and the likes of YA etc who allegedly actively worked against the company would also lose out. Only genuine shareholders would benefit, allowing for those who have helped ensure our positive result to also be rewarded by reallocating Zaza’s shares to these people as appropriate. All conjecture on my part, but it makes sense to me.

The above all depends on at least 2 assumptions:

1 - the assets are indeed worth a lot of money

2 - we as shareholders have indeed been included in the restructuring of the company

Life

I doubt the liquidators will contact us, not because the shares are elsewhere, but because I suspect they don’t have to, until at least the company has officially, completely gone. We still are shareholders of FRC, but they are in all likelihood completely worthless and will soon be completely gone.

What we are all therefore praying for is that SN and co have done the honourable thing and have duplicated the FRC shareholder register into FRUS. This would be our second set of shares. These new FRUS shares hopefully will be in line for some kind of monetary value/payout, either as shares in a newly listed company, or as many of us are hoping, as a a result of FRUS selling the asset to the highest bidder.

Lifeishard

Re your question, we are hoping that SN has copied the share register to the new company (FRUS) owning the assets. This would mean that we effectively have shared in both: those in FRC now worthless and soon to be deleted from our accounts, the others hopefully worth a fortune in the new company.

As to how the asset has been moved, it seems likely to me that the MOU (outlined by Looed) assigned it to “our” version of FRUS and hence in its new updated form, it was never in FRC. Hence the liquidators will be unable to touch it as, in its new form, FRC never owned it.

Kenco/NJames and others

I don’t agree with your view, but I think the idea that we have loads of options if we suddenly act now is laughable. We have very limited options and those options have practically zero chance of getting our money back. The only thing we can realistically do is to sit back and wait, and hope that the company does indeed do the honourable thing and stands by its shareholders. They have spent a long time defending the assets and it implies to me that our shares should be worth considerably more than we paid.

A couple of days ago everyone was apparently reassured: today some are spooked. Time to sit back and let this play out: we’ve waited this long after all and it doesn’t seem that we will have to wait much longer.

But at the beginning of the month it had been much higher from memory, after the news of the super majors had been mentioned in an RNS….

The other thing I’ve thought about today since Looed’s post is the implication for our isa and pension accounts. Presumably the shares will be removed from my fund and shares (already moved by HL from my isa) and from my pension account, and be replaced by new shares outside of these wrappers. Likely to be liable for capital gains tax here in the uk? Possibly advantageous if you close to your lifetime pension allowance? Disadvantageous if you were hoping they’d be returned to your isa?

The FRC website is still live (and seemingly unchanged from its previous very brief state).

https://www.frontera-resources.com/

I wonder for how long it will still be there - who after all has paid for it? Maybe FRC, and therefore it’s now owned by the liquidators, or SN etc on a personal basis and probably likely to be updated at some point. I’ll keep looking 👀.

Thanks Looed. It is great to see them referencing shareholders and the FRR family. Still hopeful and positive 😀

Thanks for the clarification re the different versions of Outrider Ziggy. Wishful thinking on my part I suppose.

Thanks also to Looed for getting another message from the company, however brief.

We are as ever dependent on the schemes and deals presently being struck, and the willingness of those in charge to do right by its shareholders. All we can do is wait, be patient, and maybe along the way, via one of our super sleuths, find out some information to perhaps shed a little light on the proceedings. GLA.

Thanks for the update Ziggy. The end of Outrider- not a bad day on the face of it. I suppose we now have to wait to see whether FRC has received a similarly sorry end when next week’s gazette is published 🙁. I just checked Looed’s list of court actions and none of them seem to list Outrider - instead it always seems to say Hope v SN etc.

Looed said the company assured him that this would all soon be extinguished, so fingers crossed it will be.

So at roughly the same time, we should be hearing whether we have settled with this case with Mourant, settled another with YA and whether the ending of the injunctions against Zaza are in anyway relevant to our future. A lot to take in for us mere mortals …

Looed - thank you for the timeline of events but do you also have information regarding the winding up petition that Ziggyzag has referenced? I’m a little concerned, as I thought that the winding up petition was to do with one of the other frontera companies and not the one that holds our shares. Or have I got this all confused?

Thanks Looed. It does feel like 2 steps forward and one step back. Here’s hoping…..

Looed

Are you still expecting the Mourant case to be “extinguished “ by the 16th Jan deadline?

Thanks in advance

I was a little bored this evening, so I thought I’d trawl back over 5 years worth of posts to see what we have been saying at New Year over that time. Amazingly, by my calculations, there have been about 60000 FRR posts on LSE in those 5 years. Some of them were understandably rubbish (inc my reposting of B-2-0’s comments last year), whilst others were more interesting. I thought I’d post this sample of New Year postings for a bit of fun/torture (delete appropriate 😀):

Dulwichman 2 Jan 2023 21:58

Posts: 1,233

Price: 0.00

No Opinion

RE: 2023

Leaving aside all of our personal investment which we may or may not see any form of return on. I still have to wonder why SN is still keeping the candle burning? he certainly does not need the money, he is no longer a young man and we gather that he has or at least had health problems. OK I accept he may have a kind of addiction to the business and of course we really do not know how much Uncle Sam is putting pressure on but he could just close the business down, walk away and simply play golf or what ever and enjoy the rest of his days and if i was a mean person just leave us in the poo. BUT he hasn't. In fact he seems to be fighting very hard. Makes you think

Looed 1 Jan 2022 03:09

Posts: 3,179

Price: 0.00

No Opinion

RE: New website?

Hi Sycric - agree that its legit. The frontera-resources domain was registered a month before the contract for the old domain name expired. The 'website' - or whatever that page might turn out to be - has been dormant since then. It seems to have been activated in past week or so

PJOHN 3 Jan 2021 10:46

Posts: 3,020

Price: 0.00

No Opinion

Seems as if the life support has been switched off

Posting is starting to become rare, finding news on frontera becoming very difficult.
Court docs hard to come by with knowing what's going on

B-2-0 1 Jan 2020 01:35

Posts: 191

Price: 0.00

No Opinion

2020 here's the Cherry

B12 split, FRR Western to hold alll currently proven assets, Eastern to be returned to Gocg ( Basin edge, shallow fields). FRR Western jointly owned by FRR/GOGC, however, FRR transferred holding to investor (BP as part of deal. 2020 the alliance is initiated). Bushido B20

Shafqut 1 Jan 2019 01:41

Posts: 712

Price: 0.2875

No Opinion

Happy new year!

Wish you all a prosperous year, really hope we get an RNS on Thursday.



1. Nomad reinstated 


2.outrider/hope out of court settlement


3.fundings from NY in the bank


4.BP farm in


5.2019 drilling programme


6. Shorters burnt



I know it's wishful thinking.

All the best.

GLA

Cheers Looed for the confirmation and the extra details in your post. So hopefully we will have some new information/ news in the next 2 weeks or so.Still hoping for a positive outcome here. GLA

Avi8r

As for timescales, according to Looed, the next deadline is 16th Jan which was the deadline given by the court to remedy the missed Mourant payment. Presumably we will hear something before that date or soon thereafter.

Your mock suggestion of me as a London gangster made me smile Looed. And how did you know my missus loves Picasso? 😀

Amazingly, even though I support West Ham , I’m not from the East End (which is where West Ham play), but from somewhere closer to Chelsea, in the West End, so you even got that but right.

Thanks for the explanation Looed

Looed -thanks for the update. I have a query however regarding the Mourant case - on the15th July you posted that Mourant was v SN (from memory it was initially ZM as well). Can I ask how it suddenly became v FRC? Did I miss something or have I got the cases all mixed up? Thanks