Whinging frith - pure desperation How do you know I posted it twice Fillpot?
Whinging frith - pure desperation Their puerile comments and desperate attempts to negatively spin the RNS show how little they understand about business. You do not pay out money faster than you have to if there is no penalty attached to doing so. Retaining working capital in the business is key, especially during times of transition as this always increases risk and uncertainty and the more cash there is in the business the more options you have. That YA have been forced, because they surely didn’t do this willingly, to accept a revised payment schedule which gives FRR more wriggle room now at a time when it is most needed shows that their pants were well and truly around their ankles and the consequences of not agreeing to it would have been dire from a legal perspective.
Whinging frith - pure desperation Thanks for the giggle Duknweev There really was no need to post it twice though! I particularly appreciate Kalan’s Perspective on this, this morning Telling!
Whinging frith - pure desperation The clown has no shame ,plagiarising a phrase from a man as far removed from himself as he could be and still be of the same species. Churchill would regularly scrape his like from the sole of boot. Lack of knowledge ,lack of literary talent ,lack of integrity and lack of moral fibre to name but a few of his better characteristics.What a none event.
Whinging frith - pure desperation Well as some will remember - I am no fan of the board at FRR and think they have screwed shareholders over regularly and consistently. However, if we look at the changes that have taken place in the past few weeks - are FRR in a better or worse position than they were? Before the YA default notice the repayments were larger in the short term than they are going to be now - the detractors do not seem to recognise this fact. Also Outrider are being shackled and a board member who was doing damage to the company, allegedly, has been neutered - which is also an improvement. The detractors also give two options to finance the payments to YA - a) more debt with an assumption that FRR would have to go to YA for this or b) print more shares and cause more dilution. What about c) - the company has enough cash generation in the short term to meet the payments and that is why they negotiated that amount and in the medium term they will increase the payments as production will be stepped up after the majors have got their information from testing- hence the timing of the step up as FRR know the time schedule for testing. Additionally the repayment of the remaining amount due to FRR could well have been scheduled for after a deal is struck with a major or two. I am not one for believing in all the cloak and dagger stuff but the very absence of the possibility of a positive scenario (even presented scornfully) suggests that the detractors have ulterior motives- you would have to be pretty low in mental capacity to take their posts at face value - anyone shorting FRR will welcome their posts as it is what they want to hear. Still a binary bet but each development makes me more positive that this time may be different - chances of success 70-30 IMO - letting my small bet ride - it won’t make me rich but since I am already retired and got a reasonable lifestyle I am not willing to risk too much of my cash for very little in terms of lifestyle improvement - good luck to all those hoping to transform their lives - a nice top up with money I can afford to lose will do for me.
Killing Hope? Thank goodness for that. I thought you were taking out a contract to kill the man.
Whinging frith - pure desperation Great thoughts to mull over this weekend. Just waiting for the coup de grass! eyeson…
Whinging frith - pure desperation Have to agree with you guys - Winnifrith and co on the ropes and about to hit the deck. This RNS is about fat more than restructuring a deal. It is about determination, confidence and a ruthless streak. I have no doubt that FRR said to YA repackage this deal or we take you to the SEC and you get fined very heavily and perhaps lose your licence. Augurs well for dealing with Hope I think. And if you don’t believe this just think about a retail analogy. Last month my mortgage lender wrote to me about one missed payment and proceeded to foreclose and try to take possession of my house. I said - hey - this was just a bit of confusion. The nice man agreed and immediately agreed to me missing 3 payments, to reduce my future payments by 75% and to accept most of the debt being made at the end of the term. So how often does that happen? The ducks are clearly being lined up folks
Killing Hope? Well, whether it’s Outrider, YA or TW and his crew, they can never kill FRR shareholders hope or future aspirations. Trust me, we have been through far worse than this puddly debt. Anyway, Project Moldova is going to be just as big but a lot quicker turnaround I feel. JMO
Whinging frith - pure desperation Just woke up to read that and really I couldn’t stop laughing. Nothing like a good chuckle on a Saturday morning eating your toast and drinking your strong black coffee. The really funny line was this “…Someone not receiving undeclared brown envelopes to write shite, is the City’s No 1 oil analyst Zac Phillips of SP Angel who is predictably damning. He opines:”. City’s No.1 Oil Analyst? According to who? And who are SP Angel? Ive come across City Angels, which provides secretary /PAs, but not SP Angel. And then when I worked in the City, I use to see alot of massage/sex calling cards in the phone booths always…’Angel this and young angel that”. LoL. At least Zac could have chosen a more appropriate name for his firm but he can’t because he doesn’t have the intell…or the energy, or drive that has been demonstrated by Zaza, SN and many other CEOs. Zac Knight…a lone crusader in the City, wearing his high heels and pink leotard saving distressed investors. …yeah right! Seriously, shows his credibility when he says the revised repayment structure is ‘onerous’ compared to the last one. As far as the Company keeping the option to issue more shares to YA at its discretion is prudent imo, but consider this: if after a big farmout announcement, the s/p spikes to 3-4p, I would be more than happy for FRR to Issue some shares to settle them. But then again, this is likely to be the final option as focus will be to drill Niko, and a minimum of 3 new wells in 2019 and this should deliver financial stability & other conventional financing options. The Company has also secured the option to settle the whole debt by cash at any time, and this may depend on the commercial terms of farmout deal. Anyway, you can tell how desperate they were to get that substandard note out before the weekend, after the company announced that they had agreed new repayment deal with YA. And this urgency tells me that the TW & his crew were probably responsible for the 15m sells seen yesterday (the amount is too small for vendor but high enough to keep a lid on the s/p). Anyway, I don’t mind because despite their attempts, the s/p held up well and is nicely consolidating, so when the big news hits, they will be toast. And the we can then call Zaza the ‘short slayer’. It’s about time they all got their comeuppance because the unnecessary distress they have caused the management and LTHs over the years is simply unforgivable. Spoke to Mr Ivor again (Ivor Hunch that is) and apparently next week is going to be even more interesting. JMO
Whinging frith - pure desperation What a load of tripe! You only have to google “ShareProphets and Zac Phillips” to appreciate that he is probably a member of their evil Cabal. They regularly work together to trash stocks, and if he’s not an active member of the gang then he must be getting paid by Whinging froth for his services. The smell of dung from the stables is becoming over powering but it’s only a question of time before someone comes along to muck them out. They are already living on borrowed time imho. Tot
Still standing Shoulder-2-Shoulder Still standing shoulder to shoulder SB But, our 15m man struck again today just before 2pm Any suggestions as to who/why? Our friend Kickmuck told us that there were some previously agreed sells to work through, might these be associated to the YA shennanigans? regards
We Win Reserved for the more serious case ie. Hope.
We Win Michael Buble surely. . . . . aaarg!
We Win Lets hope nothing trivial happens to the Y. A. drone[s] responsible for all this angst. A good start would be removing their Xmas swill ration followed by listening to Barry Manilow songs all day.