Member Info for WHamBoy

I think JV123’s initial thoughts are right: SN and his team are playing hardball with YA and are effectively telling YA that they need to settle asap or they won’t get any of their money back. Mourant are making their logical next move : trying to enforce their payments through the courts, which allows YA to see how easily they could end up with nothing if they choose not to deal with FRR.

Interesting stuff Keysersoze -perhaps your attention to all things Exxon was raised by Cymro’s post from 18/11/23 …

Among the distinguished guests were representatives from America Georgia Business Council , ExxonMobil, Freeport Energy, B1 Bank, Frontera Resources, and Pappas Bros. Restaurants. Special thanks to Honorary Consul of Georgia Janet Moore and President of Frontera Resources Steve Nicandros for organizing this great meeting.

https://www.facebook.com/100050510708654/posts/907141477646201/?app=fbl

So Exxon also at the meeting organised by Frontera 😀

Thanks Looed. That’s a much more detailed and comprehensive response than my cheeky message deserved. I very much appreciate your (and the company’s) efforts. Let’s hope their efforts prove to be successful.

That sounded almost upbeat Looed😀👍🏻

Are you feeling confident all of a sudden?

Presumably Ziggyzag this is good news. On the face of it, they have saved the version of FRR that holds the assets (FRC) and jettisoned the part they no longer value (FROC). I remember from a long time ago seeing the corporate diagrams of how all these frontera companies joined together but I can’t recall what FROC did. Anyone with a better memory than me?

A great find Looed (and well done Lifeishard for also spotting Dustin in Looed’s picture - I looked but only recognized SN!). This looks to me as if we may now be in closing straight. Would you agree Looed?

So am I reading this right?

As long as we pay the money stated, FRUS (which we own) have been reassigned the PSA, in exchange for us dropping all claims against the Georgians for their involvement in the mess that came about when Zaza etc were effectively allowed to steal the company from us? All dependent of course on us paying the money in time!

I have felt for a while now that the remaining Hope case set for next year is a red herring - I think it has been settled already but has been left on the books to create confusion. In the meantime, the Mourant (?) case promised to settle our obligations to them by January (from memory) and we had promised to pay the Georgians their fee by this September. The YA case was expected to have been successfully settled by now, which we know didn’t go to plan, and we therefore have a little spanner in the works , which presumably is presently being worked through. Assuming SN and his team are successful, there is it seems a good chance that FRR will return - there may be life in this old dog yet.

Thanks once again ODR.

Great find ODR - perhaps we may yet get something back from this....

I’m one of the mad ones Erazzel- I keep checking here for signs of life😀

Thanks Looed. That was the kind of nuanced response I was hoping for.😀

What you seem to fail to take into account however Abkhaz is that it would affect the price paid for such an asset. More risk means a lower price paid and vice versa. Perhaps your absolute certainty should have been a little more nuanced maybe?

I wonder how much the impending decision on EU candidate status will determine our eventual success or failure. The decision is due at the end of the year and potentially buyers of our assets may be holding back until candidate status has been granted.

https://ecfr.eu/article/the-geopolitical-tightrope-balancing-georgias-eu-candidacy/?amp

Jmolina

My view is that SN and the company were expecting everything to be wrapped up by 1st Feb as by then the whole of the monies owed to Mourant have got to have been paid. Whether the loss to YA changes things for them I don’t know, but I would have thought that SN will only want to pay these sums if he is guaranteed success and money from a deal for Frontera’s assets by that time.

Thanks for your response Looed. I was hoping that after the YA case we might have had real comms from the company, but I suppose losing the case has thrown a spanner in the works.

Looed - sorry to have to ask when you already do so much, but what’s your thoughts on this news blackout from the company.?

Erazzel

You’re right to suggest that if the value of the asset is large, then the amount we owe YA is insignificant. But no one would pay this amount voluntarily if the prize has even the slightest possibility of falling through. It highlights that nothing can be taken for granted as we chase the big prize.

Looed - that makes sense and we saw the same approach v Hope. He sued us so we sued him, all later negotiated away.

Thanks Looed. Are these docs all in advance of the trial on Friday? Or is it all kicking off earlier than that?

I thought it interesting that YA had accepted equity in FRR in lieu of money owed. What percentage I wonder? And it also referenced a Georgian financial official for Frontera - I wonder if he is still with us or has since left us.

So what’s the chance that we are going to hear something from the company directly after the YA case has been completed, on or soon after the 6th October?

It would be lovely to finally hear that we are about to get some real hard cash back into our bank accounts. Am I expecting too much?

Thanks for the clarification Looed.

Oh well, my theory sounded good in my mind, even if it wasn’t true!