Block 12 Probs already highlighted but BH MOU expires 26 Sept with 30 d cancellation notice either side. We will soon hear if MOU extended or full agreement reached to continue joint dev of block 12. Tense few weeks coming
Frontera A positive post. Been a while, frustration subdued, did a bit of a catch up and, if I understand, I think; FRR is not dead, far from it… In the Caymen’s case, FRR have moved the asset, leaving the case against a ‘royalty only’ subsidiary. The liquidators have accepted FRRs solvency declaration, with expiry around June 2020, so $30M due around this date. Hope/OMF must know they have no chance of ever getting $30M. The unpaid FRR legal fees, who pays for a service that was not delivered as agreed? In California, FRR sue Hope/OMF for $56M by jury trial, with end result around Aug 2020, but with chance/option of ‘agreed’ resolution along the way. If FRR have evidence of Hope and others collusion, then Hope/OMF must know they can’t win. It appears to me that FRR have tied Hope/OMF in knots, well…. Why would FRR pay Hope/OMF $30M a couple of months before suing him for $56M? The only bargaining power Hope/OMF have now, is ‘nuisance’ value, i.e. delay, disrupt, etc. They must be hoping FRR will say, “Here’s $10M, now F O.” However, I think SN/ZM want to ensure that Hope/OMF do not profit from their actions, including the original $4M investment, so, FRR will want to take this to Aug 2020, and will prepare by; Maybe lodging/or not, depending on whether FRR want to completely ruin Hope/OMF, around $4M in the ‘royalty’ subsidiary (Hope’s original investment) All parties know there is nothing of value in the subsidiary to claim against, so Hope/OMF legal team will advise ‘take it’. So, FRR are in total control, of how much, if anything, Hope/OMF receive. I have no doubts, in California, a jury trial, as opposed to legal argument, will find in FRRs favour, i.e. right; decent honest people trying to create value, versus wrong; someone trying to manipulate circumstances, to steal the company for selfish reasons. Again, FRR in total control. So, what about the $56M figure? This is a calculation done to ensure that Hope/OMF do not profit in any way from their involvement in FRR, including, as part of any court award (as Hope/OMF do not have $56M) the return/handover of Hope’s current shareholding, from his original $4M purchase. If this is what is happening, Hope/OMF will be lucky to get out with his original $4M investment. Finally, by Aug 2020, it will be 1 year 8 months since delisting. How many wells will BHGE/BP have drilled by then? Glad I’m not a shorter in this… Just some ‘ifs’, all just IMO, could be BS, time will tell… Best to all holders.
Block 12 Yes, autocorrect working overtime, sorry TP
Frontera Have noted a while back this has been a concern of mine, liking as I do, to ponder the worst possible thing that might happen to my investment. If Putin does decide to nip in and grab our gas and oil, gut feel says NATO and the US will not do a thing about it. They may well want to, but I just don’t believe there’s the will (or political capital) to do so. Oh, and risk starting WWIII. Never gonna happen. Heigh-ho.
Block 12 Ramco 1 and 2 is where we are right now so you know that and if 3 happens we own a slice of the action and that’s good. You or shorties pee your pants with relief that you have not lost everything you own, that’s if FRR don’t emerge and 1a relist in another form to move into the UKRAINE and Moldova. That’s another story though.
Block 12 Sorry if I’m being pedantic, TP, but I believe we’re already delisted? Do you mean ‘relisting’?
Block 12 Just to get one thing clear, if FRR does not relist shareholders still remain shareholders! In these circumstances many companies set up a system where shs can sell their shares. But in the grand scheme of things it’s early days yet. I’m still expecting delisting once the legal cases are done with. TP
Block 12 PopHead What happens to Shorter on the following 1)No relist 2)Zaza declares Frr will go PRIVATE 3)Full Take Over ————— If FRR remain private and doing very . what will be story with the ex share holders?
Block 12 There could also be a mass buying spree from shorters looking to get out and then go and find somewhere to weep.
Block 12 Assuming that the relist will be significantly above the close price, I expect LTHs to top slice half at twice the price, so as to get a free ride into the future.
Block 12 I don’t usually post but with no official news from FRR and things going on in the background unrelated to Block 12, I am beginning to think (wishfully 🥴🤞) a deal is on the table with the majors?!? If that was to happen and FRR sold block 12 and then possibly went on to secure Ukraine how would this play out with regards to us shareholders and a possible relist on the stock market ? (I guess not AIM) Surely any relist where the share price is significantly higher than previous would result in a mass selling spree, especially from LTHs so it could potentially nose dive straight after relist ? What about the B12 sale value ? I know this is all hypothetical but I’m just intrigued as to the possible outcomes should things go this way?
Frontera If Russia make a military move then it certainly will test the patience and existence even of Nato. Putin has never been happy with the way the Baltic states went West - so to say. Especially with Kaliningrad stuck in the middle. I just don’t think that the time is right for any action
Frontera The Russians have always been a background threat. It’s the least of our worries in relation to Block12. Ukraine for sure but let’s not get all worried about that right now until we know it’s a necessary part of Frontera’s future. Let’s hope it is.
Frontera Cl early we have political clout because we have backing from the US. The situation however, remains tense in Ukraine and Georgia and is, no doubt , a possible threat. One possible outcome is that the Russkies March in and take the lot ! Hopefully they won’t push it that far and FRR will be left to rebuild after the court case. TP
Frontera Via Looed on LSE We appear to have been mentioned in Forbes … Forbes Will the U.S And The European Union Get Sucked Into the Russian-Ukrainian... The conflict between Russia and Ukraine has its origins in a natural gas dispute. It has international implications that is now ensnaring the United States and the European Union.