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Black Sea Shelf - Dolphin area and Frontera

lse:frr

#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…


#118

Good feedback SB,

What are your thoughts on the directors not making any effort to reach out to shareholders?

You’re right SB, There is zero chance Steve was in Georgia just to try wine. Whilst there he would have been trying to grease the wheels with the Gov ref the arbitration in my opinion and also to give an update on Hope. I am still hopeful but the silence is disturbing.

Cheers.


#119

Dear Fozz - I would phrase your question slightly differently - what do you expect them to say during these troublesome times, especially as they are fighting for their lives with Hope and the GG [and until last week with the Ukrainian Gov too].

So during these times, look for indirect communication/signs of life, which I think we have been getting pretty regularly [although not always positive reading]. Take for example the “tell and all” interview with the Ukrainian paper, then you see them visiting the Georgian winery. Having said all that, it would be nice to hear from them directly but I feel unlikely presently.

I now think that the Arbitration hearing next month could be the new ‘make or break’ point. If they can reach some kind resolution by convincing the GG to convert the license to a long term ‘Production’ one, it may finally trigger either a farmout or the financing agreement; then the, Hope issue could become a ‘side issue’.

As usual, trying to maintain a ‘half full’ approach.


#120

That’s fair enough SB and thank you for your feedback.

A simply “hello” would have been nice though :slight_smile:

Alright I think I’ve written enough for the past few days so back into my box till next news. Sorry to hog the board but it has been very quiet of late.

Have a good day.


#121

Why should the Georgians allow a couple of pathological liars and proven idiots any control over their energy resources.


#122

Booster you got it absolutely rigged/right


#123

Hi
LSE is quite
Over here us quite
What is going on?
Are we also going to be another “TCG”