Frontera Resources is an international oil and gas company that was founded in 1996. The company was organized to pursue international exploration and production opportunities in emerging markets. Today, Frontera's core operations are in the country of Georgia.
Frontera Resources Corporation Price and Volume
Previous Close: 0.875p* (real time prices at ADVFN) Previous Range:0.855 - 0.888* Previous Volume:8912551 shares (down on average)* Trading:above the 50 day M.A. (0.4984) & above the 200 day M.A. (0.5599)*
Just want to make a few more observations: when SN met the Georgian PM on the 18th March, he clearly stated that FRR intended to make further investment in the Geargian economy. We know that the company does not generate enough cash flows to make this investment. Does this mean he has finally secured finances to drill the 4 wells for Taribani field. I would say yes and this is based 2 key bits of information. One, the debt markets are more liquid (I have seen a number of small oil companies secure finance like Leni O&G and indeed Blake) and two, Jindal hitting oil probably improved sentiment towards Georgia. We also had a very high peofile GIOGI conference. If the gas is Hooked up, then FRR should be able to get the debt facility as the cash flow will be available to service this debt. We have also waited a long time for any meaningful update so let's hope this is the 'real deal'. But I am more encouraged that the company has not waited until the last minute (I.e 28th June) to give us an update - it means they have some concrete news! Could there be some JV news too? Let's hope so. Can SN finally become a Staint from a sinner, you'll find out in 10 days time! By Symore Bottoms
Greetings from a rain sodden France, where we have just been told that we will not be able to start our canal trip until at least Monday, owing to flooding :-( Great to see something positive emerging from the company at last anyway and the comedy show continuing on this board.
Now, given that FRR are registered in the Cayman islands I would not expect them to hold the AGM in the UK but given that this is the only place the shares are listed I would expect them to provide UK shareholders with equal access to the AGM through a webcast, so maybe someone could ask that question of Liz, or Buchanan as I have very limited internet access? In my experience, its not the presentation that really matters at an AGM, but the body language and answers to questions, so why should we be disadvantaged?
GLA, and let's bury the hatchet with RR now he's had his Damascene conversion, eh?
Having just fainted and regained consciousness from the Rapid Ranger curve ball of a BUY rec, I like Symore think that this could be quite significant.
The drill bit must be working well sifting all the sediment out, weather looking good, geology flattened out, BP as the farm in partner and Georgian virgins throwing themselves at FRR and it's many long suffering investors!
Long and strong to steal anothers phrase! (Tot needs to go on holiday more often!)
Interesting comments about the upcoming AGM. Normally, a company typically just says that an AGM will be held on so and so and to pass the resolutions like electing Directors etc.
AGMs are rarely used to provide updates as Stock Market regulations clearly state that if a company is in possession of material news, this must be communicated immediately to shareholders. But we know from FRR likes to do things differently. So what's my take here? Well, firstly i was surprised that they decided to hold this in Texas when we are now only UK listed company. But you could argue that the majority shareholders in % terms are in the US. Apart from this, i pleased with what they said about the purpose of the AGM, which was to update shareholders on the progress of 2012 and 2013 business plan. So there must be some update otherwise why mention the 'update and business plan' in the same sentence. And if you link this to the March's RNS when they mentioned the V18 well, i think the focus could well be on the gas development.
As ever with FRR, you are left to read between the lines but at least we know news of some type will be out in the next 10 days. Other area of development could be securing some finance for the Taribani field.
Not long to wait my little FRRs. By Symore Bottoms
Rapid, I direct this to you particularly this morning.
Having re-read the reports for FRR which you so kindly suggested last night I thought I would highlight a few points for you and everyone else.
Firstly the problems encountered by FRR with the three well in the Mirzaani field was interesting. Yes you are right with sediment being a big problem on the first well. A problem with the second but not on the 3rd. It does seem trial and error in a way. But they were learning as they were going and they also found very unexpected pressures down in the wells.
The geology of block 12 does make for complicated drilling. But then there are very few easy fields where the geology is simple these days.
I would also like to point out that the dangers you keep going on about were from 2003 - 2005. That is 8 years ago. Fracking back then was pretty crude compared to the technology today. Drilling in sediment heavy fields has also improved no end thanks to the Russians and partners who have had to find new industrious ways to get oil out of the ground. A lot has happened in the last 8 years!!
Granted this technology does not come cheap. That's where the gas sales come into play. The cash generation will enable the development of the oil fields. Importantly though FRR need to employ competent drillers, quality equipment so they are able to maintain well integrity.
The key and I do stress this, the key to all of FRR and its future success is unlocking the value of the gas. Cash is king here. If there are delays to the gas sales then yes we will be back very swiftly to >0.50 if not then 1.3p will be a cert.
I doubt this will help you but it did for me. So many thanks in suggesting I re-read the report it was very interesting.
RR, try and stick to the debate and not character name calling, do not call me a fool, understood?
I always listen to both sides of an argument, I have researched and taken on board what the more informed on here have to say, and I too have read your posts.
Here's my dilemma, do I believe and follow the more informed, who are invested here, or do I follow you, you are not invested, you sold out at .008, so if you're out, why are you back on here and posting negativity? Surely at some point you saw value in this company?
Let me pose a very simply question, if the sp dropped to .005 today, would you buy back? if yes, why?
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I know there is always a possibility but does anyone think it is likely that we will get an update RNS before the AGM so that it can be talked about in more detail at the meeting, it would make sense to do it this way as there are no resolutions being proposed to discuss?
Dear Messrs Goode and Raggett
I note the AGM is being held in Houston, Texas and with less than 2 weeks’ notice, I wonder if you are able to confirm what arrangements the Board of Directors are making for UK shareholders to listen to AGM by, for example, a secure conference facility?
I look forward to hearing from you.
I'm not predicting anything. I'm just saying that it's possible today we have seen the start of a 3rd EW with a target sp of 1.65 - 1.85p. The previous shorter EW cycle completed at the start of May. That complete cycle now becomes the 1st EW. I think we need to get above the 1.12p intraday high of early this month before I start putting my head on the block by making sp predictions. I continue to hold.