HOUSTON, Oct. 16, 2020 /PRNewswire/ -- Frontera Resources Corporation, a Houston, Texas based international oil and gas exploration and production company, today announced that, on October 13th, Outrider Management LLC issued a public statement making numerous false claims as to Frontera's business in the country of Georgia, its intent to interfere with it, as well as its purported ownership in Frontera Resources Corporation.
The statement issued by Outrider is patently false, intended to damage Frontera and its shareholders and amounts to blatant tortious interference. Accordingly, Frontera has taken action in response to this inappropriate and predatory behavior.
In 2011, Outrider's Cayman Islands based investment fund purchased a portion of Frontera's then privately held debt in a liquidation sale at a deep discount from a third-party debt holder that had gone bankrupt. Since that time, it has made no investment in our company's work. Quite the contrary, it has unsuccessfully attempted over time to leverage its ownership of debt and interfere with the company's business in an attempt to create an advantage to achieve an inappropriate takeover and liquidation of our company.
These actions have resulted in Frontera bringing a currently pending legal action in the United States against Outrider and its principal, Mr. Stephen Hope, who is the singular professional employee of Outrider Management LLC.
Frontera Resources Corporation is a privately held independent Houston, Texas, U.S.A.-based international oil and gas exploration and production company whose strategy is to identify opportunities and operate in emerging markets in Eastern Europe around the Black Sea and the United States.
Frontera Resources Corporation
SOURCE Frontera Resources