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The nomad resigned and a new one was not appointed within a month=delisted
I am not all surprised by this announcement, I will be surprised and pizzed off if Zaza and SN lose in court though. I just don't think they'd get to this stage with the asset just to throw it all away at the final furlong when they didnt need to. Although most delisted AIM companies don't come back, I do believe that Frontera are not like most AIM companies. God knows how long we'll be in this limbo though. Another worry I have is we dont know what deals they'll do whilst the company is private and there is no nomad to even attempt to regulate them.
When I read these forums I notice there are many people that seem to lack humility and compassion. Whether it be driven by money ie. ones position (short/bear or long/bull) or just that egotistical need to prove one's opinion is right, it's so easy to lose that humility and compassion and be drawn into a way of posting that I'm sure most of us wouldn't do if we were meeting and exchanging opinions in person, or what we consider as real life. But isn't this still real life too? Why should we behave any differently than anywhere else? The internet does strange things to many people, that's for sure, but I guess there are some people that are just horrible on and off these forums too. I've been lucky enough not to have met many truly horrible people in "real life", but reading these forums or even comments on Facebook and Twitter etc is a real eye opener. Anyhow, I digress, it can be hard to figure out who is genuine, who we can trust, who seems a decent honest poster. Maybe we should look at ourselves first though, before we judge others, and that might start to make these forums a little easier to read. The current predicament and silence from Frontera has certainly brought the worst out in many people and waiting patiently for things to play out might be the best course of action if you don't want to get to the end of the saga and feel like you've behaved like a right ****. Waffle over.
Typos due to phone.
"So why was sentiment continually bearish ?
It's because the company was continually failing.
Whether it was drowning in debt......being conservative with the truth.......being just plain unlucky with its operations really doesn't matter.
It was failing......and the stock price leads the events"
The continued downtrend year on year due to the company failing makes sense, as does the stock price leading the events. There are many reasons for for the failure, and Outrider taking on the debt from a distressed seller has turned out to be one of them, bur a small part of a much bigger picture. If, and it's a big if, they get through the court case either by out of court settlement or winning it, and that deals with the default, there's a good chance the timing is right for that failure to end for the very first time. It's clear the assets are real due to the interest from Baker Hughes and BP. They just wouldn't waste their time if the assets werent there and didnt have the potential to be highly profitable. Another big if, but if they win or settle the court case, that opens the door to getting the $60m loan and receiving the withheld news on last year's campaign ie flow rates that got baker Hughes and BP interested in the first place, so there's still a chance for positive sentiment to finally return. The timing of relisting could even mean that on a rare occasion events may actually precede stock price. The above is not impossible.
The due diligence would surely take less time. Perhaps them coming on board would mostly hinge on their take on how they see the court case proceeding and how messy it might get.
This is Frontera, and they're in the middle of a sensitive court case, so I wouldn't expect ongoing updates even if they were attempting to get an extension due to the expedited process. In all honesty, I think we are more likely to delist and I expect many other holders will be thinking that, even if they aren't posting that. I'm more comfortable thinking that and being surprised by a shock announcement that Frontera have indeed sorted out the nomad situation, than expecting everything will come good after only one month and with all the Christmas and new holidays and uncertainty surrounding the court case and its revelations. As for Hot, it's best to report him for providing (bad) financial advise. Trying to get private investors to call up and employ a nomad themselves is both foolish and more likely just incredibly disingenuous .
https://markets.ft.com/data/announce/detail?dockey=1323-13392496-71CRVD2UNGFACSD477P68ELIVA
Well done PJohn. Good find. Finding a nomad and then expecting them to do all the required due diligence and admin etc within a month seemed ridiculous, especially with the timing of our suspension. This information will cheer up a lot of people this weekend :-)
I can't see how any private investor saw this coming, because as far as we knew the debt due to Outrider was put to bed until 2020. I knew there were risks, for example the flow rates that were being witheld due to the NDA could turn out to be poor, or/and the negotiations with the majors could have fallen through, and other risks, but with the information we had surely no one could have foreseen a default to Outrider at this time. Things were looking good up until thiat bombshell.
Hi Zyder. We should meet up, and sorry i never contacted you before. You're certainly one of the posters I trust and seem like an honest decent type. I''ve wanted to keep my anonymity on here, but once we find out our fate we should meet to comiserate or celebrate! I have friend in Gloucester that has a holding here, and I'm sure he'd join us too. Your email address has disappeared from your posting history, but I use lordlash1@gmail.com for Frontera type things. I don't trust these forums enough to give out my personal email, and having seen what pyrotech has gone through I'm glad I've been careful. Cheers
Thanks Timster, that was the one. No direct link to BP but I guess they couldn't just come come out and say "hey guys, guess what BP can do with our data".Technically they still can't as the NDA, as far as we know, is still in place.
Zyder wrote about BP: "BP said that new seismic technology helped it identify an additional 1 billion barrels of oil at its Thunder Horse field within weeks, whereas previously it would have taken a year to analyze." I wonder if they used this technology on b12 data. Didn't Zaza send out a tweet, that seemed a bit random at the time, about software to analyse data and plan field development, sorry I can't quite remember the exact wording. Also, he say how one of the potenti ndA companies had already increased potential profits from the data they were given, I think thus was just for taribani. I'm in between night shifts and have just woken, so details are all a bit fuzzy.
I think HT77 might have been to a few too many full moon parties. Suggesting a yellow jersey take over and that we should organise and pay for a nomad ourselves is surely a weird joke or just crazy talk.
Does anybody know what would happen if Frontera delisted and was then taken over? I'm guessing we'd just receive cash, or cash and shares in the company taking over, which would remove any difficulty of trying to sell the shares. Would this be a benefit to the process of takeover or a hindrance? I'm not saying this could happen soon, but if we somehow get through this debt problem, but don't relist, and then go on to fund the next campaign with the NY fund money, I guess it is possible that on success BP might just want the lot and make an offer. I have no idea so thanks in advance.
Oh. Christ ,Rainbow! Now Easter is the new New Year, which was the new Christmas, which was the new Christmas a few years running. Would it be too much to expect this current hurdle to be over come before we delist?
Hi Codey. You have to admit he's nearly as positive as you were until you stopped posting so much, round about when he turned up lol. I jokes though. If you say you're not RR then I believe you :-) Do you still believe this is going to be massive, or have the recent shenanigans even taken their toll on you?
But Puddy, you used to say you knew it was BP that Frontera were in discussions with, and that turned out to be true. Perhaps you made a lucky guess and were just str8nging us along, but you were so adamant you knew it was BP.... Maybe Rainbow knows something too! It's hard to tell who is real and who is fake though on these forums, and if I had to make a guess I'd say our friend Rainbow Rider is actually our friend Codefred, who of course has always said this will be massive!
Regarding all the new posters and their bearish comments, they could hold short positions or want to open short positions. if Frontera find a nomad and resume trading before any good need is released let's be honest, the share price will plummet, they'll need to plan in advance for such an event and create as much negative sentiment as they can now and until any resumption of trading. If Frontera resume trading but announce simultaneous good news beforehand e.g. an out of court settlement, any open short positions are toast or they just won't bother opening any if they haven't done already. Either way they havimg nothing to lose and everything to gain by coming on here now to try to create that negative sentiment. It really wouldn't surprise me if the traders have multiple accounts as well. Bullish accounts and bearish accounts. I can only guess this is why you often see new accounts that are usually super bullish or super bearish. To be honest,
Oops. I put shed but was replying to duster.