Frontera Share Discussion Threads

[1kg hamburger] 26/9/2017 10:13

This will be down -30% today and another -20% tomorrow morning

[1kg hamburger] 26/9/2017 10:10

who else got have provided the liquidited with forward selling?

most probably placing rns will be out today



19/09/2017 3:27pm
UK Regulatory (RNS & others)

Frontera (LSE:FRR)
Historical Stock Chart
1 Month : From Aug 2017 to Sep 2017

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TIDMFRR

RNS Number : 1966R

Frontera Resources Corporation

19 September 2017

19 September 2017

Frontera Resources Corporation

("Company")

Conversion of Series A Preferred Convertible Shares into Ordinary Shares

Frontera Resources Corporation (AIM: FRR), a European focused independent oil and gas exploration and production company, today announces that it has received a conversion notice from YA II PN, Ltd. ("YA") to convert 400 Series A Preferred Convertible Shares ("Convertible Shares") out of its outstanding total of 6,000 Convertible Shares.

Pursuant to the terms of the agreement with YA, conversion will be made at a price of 0.09 pence and will result in the issue of 337,377,777 new ordinary shares.

The agreement with YA contains a limitation of a maximum of 1,300,000,000 ordinary shares that YA is entitled to convert before 16 June 2018. Following this conversion, 787,333,982 Ordinary Shares out of agreed 1,300,000,000 have now been converted and issued to YA. Accordingly, YA may only convert a further 512,666,018 ordinary shares before 16 June 2018.

Application will be made for 337,377,777 new ordinary shares ("New Ordinary Shares") to be admitted to trading on AIM, which is anticipated to occur on 25 September 2017 ("Admission"). The New Ordinary Shares will rank pari passu with the existing ordinary shares of the Company.

Following Admission, the Company will have 13,776,394,161 ordinary shares in issue with voting rights. The Company does not hold any ordinary shares in treasury and accordingly there are no voting rights in respect of any treasury shares. The aforementioned figure of 13,776,394,161 ordinary shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the disclosure requirements applicable to the Company.

Enquiries:

[1kg hamburger] 26/9/2017 10:09

rampers have all disappeared


what does mean?

[bullet ant] 26/9/2017 10:07

If it could spike up by 600%

there's no reason it can't go down by 50%

[tickboo] 26/9/2017 10:07

Interim's showing a smaller H1 loss and if expect confirmation ud-2 testing has started should send this higher still.

[bullet ant] 26/9/2017 10:06

Ya conversion more likely that provided liquidiy

[bullet ant] 26/9/2017 10:05

run for your life
should hit 0.5p today

[tickboo] 26/9/2017 10:04

Yep, they clearly had issues and SN wasn't keen to keep us informed. It seems Zaza has a different approach and I assume the new engineer FRR has appointed onto the senior management team (with a cracking CV) has made them very confident they'll finally nail this drill. If not, Zaza will have more than a little egg on his face. At least if this is a success with the EU Energy community accession and a friendlier MoE they can sell the gas. Could well be a game changer and this momentum could be just the start.

[lowflow] 26/9/2017 09:48

A Story About A Well – Ud-2 or was it called Udabno #2
The Frontera stock is now up over 600% since the beginning of September, not bad. The most recent focus has been on the workover of the Ud-2 well. There seems to be a belief that this well will unlock the multiple TCF potential. The Ud-2 well has some history and it’s not without issues. Here is a recap of the history. Everything is from RNS issued by the company.
- The Ud-2 came up first in Frontera news flow in an RNS in Dec 2015. The well was called at that time Udabno #2, and now it’s called Ud-2, there is no explanation why they are using a slightly different name. Frontera announce in Dec 2015 that they would re-enter the well to a 3300m depth to test an extensive 2000 m section of the well. Basically, the same operation they are doing now. In Dec 2015, they expected that they would produce 7 mmcf/d in Q1 2016 after completing the work-over of the well.
- 14 Jan 2016, the company announces that they had to repair the wellhead as it had been damages due to high pressure. The work has also been delayed to heavy snow storms.
- There is no news on the well until 25 April 2016, when they announce that they will recommence the work with the well. Its unclear why there has been no activity with the well between Apr-Jan.
- There is no news during the summer and it first update comes in Sep 2016, the company announces that the present delay has been caused by “due to high bottom hole pressures and an obstruction that was encountered at approximately 3,300 meters”
- 26 Sep 2016, the company announced that they will test the well in Oct 2016 and that “Additionally, procurement of additional stimulation and related equipment has been completed”.
- In the end of October, they announce that the testing will take place in November.
- From 24th Oct 2016, there no update on the well until 19 Jan 2017, when the company announced the testing had been delayed to delays in getting the right equipment, which is strange as the company announced 26 Sep 2016 that they had all the equipment they needed.
- From 19 Jan 2017, there is no real update on the Ud-2 well until Aug 2017 when they initiated the present workover of the well.


Frontera began the testing of Ud-2 or Udabno #2 in Q4 2015 and they were supposed to put it on production in Q1 2016. Since the work begun there has been endless delays and for various reasons, snowstorms, lack of equipment, damaged wellhead, issues in the well etc. Frontera is now supposed to test the well in the coming weeks, based on the track record on this well I think there are some doubt about them delivering a testing result on this well at any time soon.


23 Dec 2015 - RNS
- Operations: Within the South Kakheti Gas Complex, operations continue associated within the western area of the Complex (formerly referred to as the Mtsare Khevi area) where work is ongoing to continue to explore, test and add new gas production from reservoirs situated between 300 meters and 5,000 meters in depth. Of note are ongoing re-entry operations at the Udabno #2 well where re-entry operations are currently at a depth of approximately 3,300 meters with discovered bottom hole pressure estimated to be approximately 8,700 psi. Together with ongoing well operations, expansion of existing processing facilities have progressed and it is now anticipated that operations will bring daily gas production in excess of 7 million cubic feet per day during Q1 of 2016.

14 Jan 2016 - RNS
- Gas Window Initiative – As reported on 23 December 2015, operations continue associated within the western area of the Complex where work is ongoing to continue to explore, test and add new gas production from reservoirs situated between 300 metres and 5,000 metres in depth. Due to heavy snow during the past three weeks and the need to unexpectedly repair the existing wellhead as a result of high bottom hole pressures and resulting high shut-in surface pressures, operations at the Udabno#2 well remain at a depth of approximately 3,300 meters. In parallel, the Company has completed a gas testing program design with the assistance of Weatherford International”

25 April 2016 - RNS
- “Operations at the Udabno#2 well are now continuing in May”
- “In the western area of the Complex, operations at the Udabno#2 well are now continuing in May where high bottom hole pressures and resulting high shut-in surface pressures remain at a depth of approximately 3,300 meters.”

5 Sep 2016 – RNS
- “Gas Window: Operations at the Udabno#2 well are in progress. Since May, operations have been delayed due to high bottom hole pressures and an obstruction that was encountered at approximately 3,300 meters that has required additional equipment to complete operations and prepare the well for testing.“
- “Frontera plans to undertake a testing program in October that is designed to evaluate an extensive gas-bearing interval of approximately 2,000 meters in gross thickness.”

26 Sep 2016 – RNS
- “Of note, related to Gas Window operations, the Udabno#2 well will be stimulated as part of a testing program in October. The planned stimulation will be the first that is designed to evaluate an extensive gas-bearing interval of approximately 2,000 meters in gross reservoir thickness associated with this well. A targeted, multi-zone approach will be implemented in order to maximize the stimulated rock volume.”
- “Additionally, procurement of additional stimulation and related equipment has been completed. This will serve to expand the Company’s present fleet in order to implement more complex and beneficial completion designs for the current and future stimulation campaigns.”

24 Oct 2016 – RNS
- “Our November program represents another important step in the continuation of our evolving well stimulation work. Our work at the Udabno#2 well is particularly important, as we plan to undertake a testing program that is designed to evaluate an extensive gas-bearing interval of approximately 2,000 meters in gross thickness. I look forward to communicating results in the weeks ahead.”

19 Jan 2017 – RNS
- “During November and December of 2016, operations to complete a new six well stimulation program were delayed pending delivery of additional pumping equipment deemed necessary for execution of the planned program in order to reduce risk and enhance desired outcome. The pending campaign, previously announced on October 24, 2016, is focused on continuation of the Company’s ongoing Oil Window and Gas Window operations at its South Kakheti Complex.”

22 Aug 2017 - RNS
- The company will continue its work-over operations in the Ud-2 well of the Mtsare Khevi gas complex. The bridge plug will be set at 3340m and three gas-bearing intervals located between 2620m and 3320m will be perforated and tested. Of these intervals, two are in the Gareji formation and one interval is in the Oligocene age source rock (Maykop).
- Work-over operations are expected to be completed by end of September, subject to there being no unforeseen circumstances, followed by perforation and testing in October.

6 Sep 2017 – RNS
- “mobilization of a workover rig to Ud-2 well, situated inside the 950 square km Mtsare Khevi Gas Complex area located in onshore Block 12 in Georgia”

[joemillion] 26/9/2017 09:29

MMS hunting out stop losses to meet the demand before next leg up. Seen it all week.

[potential] 26/9/2017 09:10

Potential huge.. taking a small breather and then it's off to smash 1p!!

[tickboo] 26/9/2017 09:01

Profit is profit but I believe these guys have some way to go and the MMs are now believing Zaza as he reports back on key milestones. Confirmation ud-2 testing has started and a reduction in H1 losses will have this at 1p I'd say.

[potential] 26/9/2017 08:57

0.765 ARE buys- showing up as sells LOL

[potential] 26/9/2017 08:54

5m Buy showing up as a sell LOL

[cudmore] 26/9/2017 08:54

1p here we come. Pile in now or miss the boat!!!

[babbler] 26/9/2017 08:41

Buys as sells... Usual games. Back to work see you at 0.85

[joemillion] 26/9/2017 08:41

What you do in the privacy of your own home Babbler is down to you. Never felt that way over a share but understand where you are coming from.

[potential] 26/9/2017 08:40

Wow 0.85 next stop

[babbler] 26/9/2017 08:38

With the usual shakes along the way...

[qs99] 26/9/2017 08:31

1p looks doable today with this start IMO...GLA

[shirley83] 26/9/2017 08:30

Every sell mopped up, 1p maybe today

[miahkaysor] 26/9/2017 08:17

1p here it comes!!!!!!

[telbap] 26/9/2017 08:16

Keep up your wrong....shirley put her hands up to being wrong yesterday

[tickboo] 26/9/2017 08:15

The MMs are really keen to take this higher. Great to see!

[yourwrong] 26/9/2017 08:14

And Shirley finally gets it...... After loosing her knickers....