Frontera Share Discussion Threads

[tickboo] 23/10/2017 15:00

Log, I have a full-time job so can't answer you every minute of the day. This is an email exchange I had with a friend who also spoke to the NOMAD -

YA are allowed a conversion a month but month is not defined, as I initially thought, as 30/31 days between conversions.

To date, there have been 5 conversions since June (June, July, August, September and October) corresponding to one a month. There was some discussion on some of the conversions, which also occurred towards the end of the months, so the announcements are not regularly spaced out. It looks fine, albeit there can't be another conversion in October.

[mick1909] 23/10/2017 15:00

28th of sept is for October's tranche so for november they will get even less shares as the share price is higher simples log pants

[loglorry1] 23/10/2017 13:34

So Tickboo as expected you can't provide a link to that.

Whereas on 28/9 we see TA converted 400 convertibles into 63M shares.



On 19th Septmber they converted 400 into 337M shares.



So that is twice as many as they were allowed to do in September. Incidentally there was another conversion on 4th October so the 28/9 ones were not the ones for October. Similarly on 2nd of August 400 were converted so we can't push them into August either.

So despite you saying you were told the NOMAD said that they did not do 2X as many as allowed the plain fact is that they DID.

[loglorry1] 23/10/2017 11:10

Tickboo where is the RNS stating that they didn't do 2X in a month? It's there in black and white in the RNSS that they did?

[tickboo] 23/10/2017 11:04

It was confirmed by the NOMAD that they did not exceed the limit although reported in the same calendar month. News before the O&G conference a week today is my bet.

[loglorry1] 23/10/2017 10:53

Tickboo YA have already broken the monthly selling limit look at the two prior conversations to the last one. In that month they did 2x their limit. FRR obviously don't give a stuff about monthly limits.

In the same way FRR will let them exceed the yearly limit. It's probably parthe of the deal they did to convert a bit higher than they were entitled to.

[tickboo] 23/10/2017 10:48

loglorry what are you on about, YA have a limit which you're aware of. No headroom increase requested for the AGM so things are looking on the up. Some good news before Nov 3rd surely?!

[bumpa33] 23/10/2017 10:41

Well they better come back soon and start doing their job - break that neckline on what’s looking like an almost textbook head ‘n shoulders - and it’s a long way down.

Sure the mm’s would certainly be happy to help trigger stops and margin calls, generous chaps that they are.

[loglorry1] 23/10/2017 10:31

I think the pump and dump crew have moved on from here now. Volume has dried up. It's much easier for them to pump the value of a £5M share like GGP, JOG or VASY than an £80M share here.

This is especially true when you have YA in the background selling large numbers of shares at pretty much any price.

[telbap] 22/10/2017 10:53

Dodge....did we touch a nerve???

[noirua] 21/10/2017 02:49

The work towards commencement of sidetracking/drilling operations at Dino-2 well in November 2017 is progressing as planned. Drilling permit application has been submitted to the State Agency of Oil and Gas and is expected to be approved by the end of October.

The well Dino-2 will be drilled to a target depth of 2700m and, as previously announced on 22 August 2017, Zones 9, 14 and 15 of the Eldari reservoir will be stimulated and produced together. Drilling will be completed in December and the well will be tested before the end of the year.

"After a successful capital raise, we now are fully funded to sidetrack and test Dino-2 well in Q4, which will be followed by deepening and testing of well T-45 in Q1 of 2018. Oil processing and export infrastructure of the Taribani complex can handle production of 10,000 bbls per day, allowing Company to monetise all produced crude oil upon the commencement of production.


Frontera Resources Corporation (AIM: FRR), the European focused oil and gas exploration and production company, today announces that it will hold its annual general meeting of shareholders ("Annual General Meeting") on 3 November 2017, at 1:00 p.m. (GMT), at 1 America Square, 17 Crosswall, London, EC2N 2LB, the United Kingdom. Circular containing the formal notice of the Annual General Meeting and the agenda is being sent to shareholders today and a copy is set forth below.

[cudmore] 20/10/2017 08:41

when is news due here next?

[tickboo] 19/10/2017 17:02

The accession to the EU energy community meant the makers had to be opened and dross stating the MoE didn't help which is why he moved upstairs and KK (ex head of MoE) also moved on. Looking good for a move a lot higher given no headroom request and fully funded.

[mark of the rushes] 19/10/2017 15:54

Not sure if this has already been posted here:



Zaza to present.

[tickboo] 19/10/2017 15:48

Think he's trying to show any potential JV suitor FRR can and will go it alone if necessary. It's positive to me though and good news before the AGM I bet.

[dodge city] 19/10/2017 15:05

Yes, I'm fully aware of the history here, that's why I was surprised by that statement.

tick, what's your take on it.

[pugugly] 19/10/2017 15:00

dc:> That is what he is suggesting BUT advise you check pasts announcements for the outcome of similar statements before you bet the farm - A serial disapointer for many years - OK could be different this time BUT........

[dodge city] 19/10/2017 14:52

"On the Gas side, our focus is on testing the Ud-2 well located in the Mk Gas Complex. Once testing is completed in November 2017 this well will be connected to the existing gas processing facility and sold onto the domestic market"

Is he suggesting that the testing is a mere formality and that once completed the well goes straight into production.

[tickboo] 19/10/2017 14:20

What is the focus of your management team for the next 12 months, and what are the key milestones you are looking to reach that you think will add value to the business?On the Gas side, our focus is on testing the Ud-2 well located in the Mk Gas Complex. Once testing is completed in November 2017 this well will be connected to the existing gas processing facility and sold onto the domestic market. We will commence another gas well workover opeartion in February 2018, which will be completed in March 2018 and produced gas monetized in May 2018. Finally, these operations will be followed by acquisition of 100 sq.km of 3D seismic in August / September 2018. The acquired data will be proccessed in Q4 2018. On the Oil side, our focus is on sidetracking and deepening Dino-2 and T-45 wells. Once completed, these wells will be stimulated and put on production in December 2017 and March 2018 respectively. This will be followed by well T-39 completed in May 2018 and in June the company is planning to initiate a 5 well drilling campaign completed in Q4 2018.What do you see as the key risks and challenges your company facing at the moment and how are you overcoming these?They key risks and challenges at the moment are Commodity price changes and Operational risks. The way the company overcomes these risks is fisrtly, by operating in a lowcost onshore environment thus we have pretty low opex and secondly, we operate to the highest industry standardsutilizing services provided by the best known names in the industry.What is your main aim in coming to the 121 Oil & Gas Investment conference?We are looking to engage with investors interested in hearing our story and future plans. We have no immediate plans to undertake a raise as we have recently kicked off a fully funded 3 well campaign that will enable us to prove up tremendous reserve estimates as per the companies latest CPR's completed by Netherland Sewell & Associates, according to which the Taribani field contains 1,033 MMbbl (OOIP) of which 155 MMbbl is recoverable and the MK Gas Complex that contains 8.3 TCF (OGIP) of which 5.8 TCF is recoverable. However, we are always open to establishing partnerships with investors which might allow us to accelarate development of these fields.Investors like to see that management have "skin in the game". Tell us briefly about your management team's investment in the business.Directors represent the largest shareholders and largest debt holders of the company. Frontera Resources represents a compelling investment because of huge CPR estimates in low cost onshore setting in Europe