Does anyone know if the HQ in Texas is still occupied?
Any thoughts on Ooopsi’s recent post:
Two NEW frontera entities registered yesterday (links below). Assuming that is Zaza’s son. Very interesting. Answers on a postcard.
Company Name: Frontera USA LLC Legal form: Limited Liability Company Identification number: 405373313 Registration number: 15/01/2020 Registering authority: LEPL National Agency of Public Registry
Georgia, Tbilisi, Vake district, k. Kekelidze St., N5 Additional Information: Email: firstname.lastname@example.org The person providing the information is responsible for the authenticity of the additional information.
Information on the process of liquidation / reorganization / insolvency
it’s not registered
Leadership / representation
Director - Nikoloz Mamulaishvili, 01017019486
Owner of Share Nikoloz Mamulaishvili, Shareholder, 01017019486 100%
SubjectCompany Name: Frontera Trading LLC Legal Form: Limited Liability Company Identification Number: 405373466 Registration Number: 16/01/2020 Registering Authority: LEPL National Agency of Public Registry Legal Address: Georgia, Tbilisi, Vake district, K. .Kekelidze str. N 5 Additional Information: Email: Email: email@example.com
PartnersOwner of Share Nikoloz Mamulaishvili, Shareholder, 01017019486 100%Commitment
Interesting discovery from oopsi - perhaps another small flicker of sign of life but what’s driving this activity and why now? Probably more importantly, if there was/is intention to shaft the shareholders, surely it would have been smarter for Zaza to use another company name than ‘Frontera’ (given all the eye balls on us at the moment not to mention our own super sleuthers looking for any scrap of info). Having said that, the shareholder is Zaza’s son and not any one from FRR, so legally separate entities but related parties?
Anyway, still no update from Texas. Still no news on the Arbitration. But some traction in New York on the liquidation of FRCC, which continues to go through the process (and it appears Hope is continuing to put up a good fight despite racking up legal costs). But he will have a long fight on his hands if he tries to reverse the farmout from FEGL to FRUS (could take years especially if the Georgian Govt ratified the farmout deal). For now, I think the Texas hearing may provide a good idea where the whole legal thing is heading. Maybe the reason for having this hearing behind closed doors was to reveal to the Judge certain malpractices by OMF and also share this evidence with Hope without jeopardising SEC investigation. I speculate of course.
Finally for the record, our CLNs are fixed income bonds (@12%) bought by institutional investors (not banks) and fully repayable as ‘bullet’ on maturity. Bank loans are not arranged in this structure. The Original Bonds, which were restructured in 2011, were held by DDJ and Plainfield, both asset managers.
While the fight continues, we mushrooms should try to stay away from the dark side. If it does go very bad, there will be plenty of time to feel cheated and bitter.
You could always get a Pizza delivered to the address and see if its accepted:-)
The empty box is now clearly confirmed as full - and a fight to the death is taking place re ownership. Will we get our share one day?
Courtesy of Xenin on LSE …‘GEPlan Senior Geologist Angelo Ricciato said “Onshore Georgia and in particular the Kura Kartili Foreland Basin may turn out to be one of the most exciting emerging hydrocarbon plays of the coming 5-10 years.”’
And just in case you have forgotten the basin is here…
And that’s exactly why we invested in FRR (some over invested). I have always had no doubt B12’s gas will get further explored and exploited. The Russkies weren’t interested in the gas but sucked all the easy oil up.
Good luck all.