California When I was a schoolboy many many years ago one of my teachers told me I had verbal diarrhoea. I was quite proud at the time. I did start to feel alone later tho as nobody else seemed to have the same attribute. I don’t feel alone any more thanks to you Fozzer. More seriously though, it is amazing how in a matter of a few hours you can go from doom and gloom to ecstatic positivity and back again. It is a shame because sometimes you have something very useful to say but it gets flooded by the sheer volume of your posts. You suggested to gotreal to just skip your posts but I would be worried I might miss something of value if I took that advice. I do enjoy reading posts from a number of people on this board such as Devex, TOT and Symore Bottom (and others). The interesting thing is that they are NOT prolific posters but their posts are ALWAYS worth reading. Calm down, slow down and concentrate on the value that you can definitely bring.
California Booster11 ‘But what if “your management” were “total buffoons”?’ Then they would still be more intelligent than your good self!!
California But what if “your management” were “total buffoons”?
California gotreal, at this stage I really don’t think what I posts makes any difference or matters to our investment in Frontera. Wishing you a good day.
California Exactly Fozz so if our management are not bafoons we could prove solvency, complete finance deals with Hope no longer on the board and have a go at prosecuting Hope for breach of fiduciary duties.
California Foz, if all you are going to be is doom and gloom then why post … ? Constant speculation on the worst scenarios and wishing the past had been different is pointless and frankly rather irritating … Give it a break… you don’t have to respond to every post… do you really have so little to do?
California Thanks Pop, my take is that if FRR can prove solvency and can pay the loan within 12 months then they’ll be no forced liquidation and the company can continue to trade. FRR now have to “proved” this in a court of law and there can’t be any fudging from them.
California It’s in the court documents Fozz. ZM and SN have made a declaration of solvency which needs to be signed and submitted by next Thursday. As to paying the loan. We have always had to pay the loan off within 12months. No change there, if we cannot pay the loan then we are finished and we always were. So if we assume that our Management team are competent individuals there should be signatures on the declaration of solvency with evidence backing that claim by next Thursday. These are the facts of the matter and not a question Fozz.
California I’m not 100% sure pop, SB is the finance wizard. SB, is that your take? If FRR can prove a declaration of solvency and can pay their debt off in 12 months then the company can go on trading? Cheers
California So no change then since before we delisted. We have to be able to pay our debt within 12months. ZM and SN have to sign the declaration of solvency by next Thursday.
California Good post SB but the liquidators have their foot in the door now. I think it comes down to having the cash to pay off their debts now. Cheers
California True SB, but I think we can deduce that T45 and Dino were disappointments. I think T39 delivered though, fwiw. Should find out our fate mid next week.
California operations at wells T-45 and Ud-2. No change at Ud-2 well which is flowing gas and water, with pressure at 600psi. At T-45, flow is 2 barrels per hour (approx. 50 barrels per day), 70% oil and 30% water, still in the testing as the well is cleaning itself. The Company is getting ready to frac Dino-2 well this week. Directors asked questions about operations and discussions ensued about T-45, Ud-2 and Dino-2 wells. It was noted that both T-45 and Ud-2 wells were at a “clean-up” stage. Steve Nicandros then offered to speak about recent email exchanges between Steve Hope and Zaza Mamulaishvili about the overall situation of the Company. Steve Hope mentioned that his view is that he wants the Company to succ~ed, however he has been the largest note holder of the Company for more than 6 years but never has been paid so far, instead he had been sued albeit he put it behind.
California It also says that the well was in a clean up phase. The email was dated around the 20ish April before Dino started drilling. In any case, we don’t know; T45 could have gone down to 5bpd or 100bpd.
California Taffy posted it from the internal emails submitted, I’m not sure why Zaza didn’t just come clean with 50bopd. Can only assume he didn’t want to crash the share price as he may needed to have raised again before the 3 well program finished.