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Black Sea Shelf - Dolphin area and Frontera

lse:frr

#98

@ramco14
… as things exist there is a chance FRR will relist and trade again …
If Hope had been successful you’d have been wiped out. … end of story!
It could take another 12 months… or more ??
Thing is there’s no point stressing over it as there’s absolutely nothing you can do about it.


#99

Just to add, FRR still have plenty of folks on LinkedIn seemingly employed by FRR.
I reached out to Matt Damon some time ago but he blanked me. I know people that have been axed don’t always update their profile but some would have and none appear to be looking for work.

Again whom is paying them or have they all taken a significant haircut?


#100

How many of us sick or will fall sick result Of
Zara lies


#101

Cribbed from LSE, Steve was served with court order 11SEP in Texas and has 21 days to respond, Hope is suing him for the 2m interest payment Hope never received. Steve and Zaza both had personal guarantees to pay the 2m so are personally liable.

Thankfully this does not directly affect the company from what I can tell and I’m sure Steve has 2m spare.

The big one is the arbitration in Oct, just a few weeks away, with the GOGC.


#102

Thanks for summing up fozzer


#103

No worries Chill, I’m not sure where we’re up to with the DOS but there was a "directions’ hearing on the 7th of SEP in the Caymans so we may get a write up end of next week or early the week after.

Maybe a few of us should fly to Georgia this year if there’s still no news, at least I hear the wine in Georgia is good!!!


#104

I believe the Texas hearing was Hope and Outrider claiming a total of 500 million shares from ZZ’s and SN’s personal caches (250m each) as personal guarantees to be paid as part of the default payments.


#105

I think that should be ‘in addition to’ not ‘as part of’.


#106

Posts on


#107

Post from lse
Decision # B19055799 / 8 (11/06/2019 14:45:53) Registration
National Agency of Public Registry has received application # B19055799 16/05/2019 17:50:35 (Applicant: Giorgi Janiashvili / 01025015919 /) requesting registration of a new entity.
Legal form: branch of a foreign enterprise
Ad title: Frontera Resources Inc. this. LLC Branch in Georgia Name in Latin: Frontera Resources US LLS’s Branch Office in Georgia
In accordance with the Law of Georgia on Public Registry, a decision was made to satisfy the request.
The decision shall enter into force upon publication.
The decision may be appealed in court within 30 calendar days of its publication.
National Agency of Public Registry ::: Address: Tbilisi, str. N2 ::: www.reestri.gov.ge


#108

Extract from Registry of Entrepreneurs and Non-Entrepreneurial
(Non-Commercial) Legal Entities
Serial number of the application registration, date of preparation: B19055799, 11/06/2019 14:43:50
Subject
Frontera Resources US LLC’s Branch Office in Georgia Branch Of Foreign Enterprise
405339637
11/06/2019
LEPL National Agency of Public Registry
Georgia, Tbilisi, Vake District, Paliashvili Str., 12A
E-mail:
The provider of the information shall be liable for the validity of the additional information
Information about Liquidation/ Reorganisation/ Insolvency Proceedings
Not registered
Managers / Official Representatives
Director - Zaza Mamulaishvili, 01024002412
Founders
Frontera Resources US LLC, 802558654 /USA/, 07.10.2016
Seizure/Injunction
Not registered
Tax Lien/Mortgage
Not registered
Firm Name:
Legal Form:
Identification Number:
Number and Date of Registration:
Registering Authority: Legal Address:
Additional Information:
FRUS@FronteraResources.com
Pledge/Leasing on Intangible or Movable Property


#109

I think its thought this is where block 12 has /is being transferred to , so further out of reach of Liquidator . Unfortunately don’t think this Co is linked to entity we hold shares in …hope to be corrected


#110

Kev,

Our shares are with FRC which is the main company, I can’t see how the asset has been moved to a shell company not associated with FRC without shareholder approval as that would be shady as hell. We know from the court docs that Frontera were attempting “a farm out” to a subsidiary. I think this is much more likely, if they’ve been given the go-ahead with the Geo gov then that’s great news but last I heard FRC’s application was denied.

BWTFDIK!!!


#111

Well the go-ahead was given on 11th June with appeal of 30 days. No appeal is showing so could be B12 is safely out of Hopes clutches.


#112

I thought the request was denied on the 11th of June with 30 days to appeal the decision. Where does it say the go ahead was given?


#113

Decision # B19055799 / 8 (11/06/2019 14:45:53) Registration
National Agency of Public Registry has received application # B19055799 16/05/2019 17:50:35 (Applicant: Giorgi Janiashvili / 01025015919 /) requesting registration of a new entity.
Legal form: branch of a foreign enterprise
Ad title: Frontera Resources Inc. this. LLC Branch in Georgia Name in Latin: Frontera Resources US LLS’s Branch Office in Georgia
In accordance with the Law of Georgia on Public Registry, a decision was made to satisfy the request.
The decision shall enter into force upon publication.
The decision may be appealed in court within 30 calendar days of its publication.
National Agency of Public Registry ::: Address: Tbilisi, str. N2 ::: www.reestri.gov.ge


#114

dg, that does not say the decision was approved.

“The decision shall enter into force upon publication.
The decision may be appealed in court within 30 calendar days of its publication”

It sounds like the decision was made and FRR’s application was rejected and they have 30 days to appeal, why would you appeal a successful application? You only appeal a rejection.


#115

I am looking at ‘a decision was made to satisfy the request’ and taking that to mean GG have accepted the request. Any appeal could have come from the likes of Hope imo.


#116

No dg, it means the gov’s rejection satisfied the request by FRR I.e. the approving authority acted within their rights/rules.

I hope I am wrong but I think I’m right. Why else would FRR be allowed 30 days to appeal the decision. It comes back to the arbitration, the gov want FRR to get on with things or give up the block. I personally can’t see FRR losing all of their block as they are already producing from some wells.


#117

These are interesting revelations and may be a Georgian Lawyer is better placed to give us some clarity. For what its worth, i think there could be two requests here, 1) to create a new entity as a ‘foreign branch’ of FRUS and 2) request to transfer the PSA to this new entity. On the first one, perhaps the Georgian approved the creation of the ‘foreign branch’ - but on the PSA, may be still pending or suspended due to the arbitration hearing in October. Whatever the case, but noting SN and Zaza were masquerading in Georgia recently, as wine connoisseurs with the Texan and European wine contingents, was to put some indirect psychological pressure on the Agency? Who knows. But fingers crossed that they approved the PSA transfer…