Share Name Share Symbol Market Type Share ISIN Share Description
Frontera Res LSE:FRR London Ordinary Share KYG368131069 ORD SHS USD0.00004 (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 0.2875 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
0.00 0.00 0.00 0.00 0.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 1.91 -13.26 -0.15 45
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 0.00 GBX

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Date Time Title Posts
13/12/201923:49FRONTERA AND BEYOND31,223
06/5/201920:10Zibrahimovic - the No,1 LSE ramper3
03/4/201909:20Fraud of private investors part 222
28/3/201920:21FAO Fozzer or others ref Joe King110

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lightstep: StarRage Posts: 2,775 Price: 0.00 No Opinion RE: FYIToday 12:21 Exactly Seingred. The production theories on here don't stack up imo. My own personal theory is that the 5M seller was ZM/SN all along. They both knew they intended to default on the interest payment with the knowledge that Hope would eventually call in the debt default. So knowing what that would do to share price once it was in the public domain, they started systematically selling down. When the SN affidavit was posted on here on the 21st December we saw a big acceleration of selling. Why? Well if you were ZM/SN and you realised that the rest of the court docs/emails were going to be published at the weekend as I stated at the time, you would realise that Cairn would most likely resign on the back of them and so SN/ZM would try and get as much cash out as possible. Just a theory, but more plausible given what we know now than the production theory imo. ================ BOOOOOOOOOOOOOOOM!!!!!!!!!!!! Bingo... we have a winnar ladies and gentlefruadvictims. Just PensionlessMongsLooooooooooooools
joe king1: Share price looking strong. Oh wait. Lol
brookemia: How about this sweet karolina: Madpunter Premium Member Posts: 2,433 23 Oct '18 Valuation 18kMMbbls oil and 202TCF (at the same recoverable rates as the figures in the CPR = 2.9kMMbbls and 140TCF) . If this is converted to oil equivalent (1TCF = 170MMbbls oil) = 2.9 + 26.7 = 29.6kMMbbls. With an oil price of $75/bbl = $2002.5bn. Typical takeover amounts for O + G companies are 1 - 3%. As the numbers are so huge, it would have to be a consortium (we have two majors interested remember) and the 1% would likely be the top limit. Therefore, with 1% = $20bn, which equates to a share price of 98p. If a JV/farmout, then I would look at 0.1% = $2bn, which equates to 9.8p. If FRR were to go into field production alone borrowing the money, then £500m market cap. is achievable + $440m recoverable expenditure is roughly $1bn. Hence, why IMHO $2bn is the figure for a JV/farmout. IMHO a figure somewhere in the middle of the range is most likely for a buyout of Block 12. Therefore, halfway between $2bn and $20bn is $11bn, which equates to a share price of 53.5p ($11bn = £8.44bn @ current rate of $1 = £0.7675). Remember, I have used a very conservative value of just over 0.5% of the value of the recoverable hydrocarbons. When takeovers are considered, factors that give higher valuations are low costs per barrel; infrastructure in place; market in place; proven resources and fields already in production. BP recently bought 4.6kMMbbls for $10.5bn and FRR has almost 6.5 times as much. The costs for the BP acquisition are well under $50/bbl, whereas for FRR it is under $12/bbl. There are pipelines running through Block 12, with the nearest to Tarabani only 18km away. There's a ready market in place connected to the pipelines. Production apart from the very low zone 9, is only just starting for FRR. Tthe resources are being proven by the current EWT's, plus the seismics and the proven geology of the Kura Basin and Maykop formation. Therefore, IMHO taking everything into consideration, half a percent of the recoverable value is very conservative and not utter tosh. I am assuming the resource of 4.6kMMbbls of oil BP bought is the amount recoverable, as I haven't found a breakdown for the resource. FRR has 6.5 times as much recoverable hydrocarbons and 4 times as much profit per barrel, which equates to 26 times as much profit. BP's acquisition is already flowing at 190kbbls/d and is a proven resource. IMHO $11bn for 26 times as much profit, than a resource for $10.5bn with the field already developed, is a good deal.
sweet karolina2: dodge, You may be right, but will SN and ZM simply cough up from their stashes or will they keep them hidden and declare bankruptcy? As major shareholders of FRR to declare bankruptcy the FRR share would need to be worthless or ZM / SN needs to sell them to pay. Remember Hope is not after shares he is after actual damages. Mourant certainly do not want worthless FRR shares either. If ZM and SN do have stashes and are going to pay, why wait until they are sued? Surely if they believe they can get a loan / do some sort of JV being personally sued for reneging on personal guarantees would be massive black marks against them in anyone's DD process. Personally I do not believe SN and ZM's stashes are all that large and I do not believe they would take the personal hit against what stashes they do have knowing that Hope owns the only bit of FRR worth anything and their attempts to disrupt the liquidation process are likely to see even more charges brought against them.
sweet karolina2: Mick, The £40k is not sitting in the account, it is there for them to reinvest or take out and spend as they see fit - they have been paid out £40k. It is unlikely any have 10:1 leverage, but let's go with that figure. Should FRR relist, the amount a short who had a 10m share short would owe would be the relist price times 10m (assuming no consolidation - ie a 10 to 1 consolidation would be 1m times share price). So assuming a relist at 0.1p (unconsolidated) the short would instantly owe £10k and if they had 10:1 that would be £1k. That £1k would need to be covered by what else was in the account in terms of positions in net profit / cash, if there was not enough there they would get a margin call. The short could decide to close at that point (costing £10k) or wait and see what developed. Longs are in the same position in terms of still having a long of 10m at 0p where they have already been charged and paid the full £40k (assuming they went long at 0.4p) the leverage disappears when a share goes to 0p and generally the leverage gets tightened as things look bad and they get margin calls as a result so they do not face the full additional bill in one go. You can put whatever numbers you like into the equation and come up with whatever figures you like. But as there is ZERO chance of relist, no short is worried and they are happily spending their gains now. For me, as I never had a short, even if FRR listed at £10 (unconsolidated) my loss would be ZERO, just as my gain on FRR delisting in the first place was ZERO. That is the thing about the ZERO times table, you only need one ZERO as a multiple of whatever overall sum you are doing and the answer is ZERO. Hence the idea that I or anyone else is posting negative information because they are worried about a relist is imbecilic nonsense, which only true imbeciles would expose their imbecility by posting.
sweet karolina2: For mong victims who have decided to no longer be mongs or vicitms, but still want to play in the small to micro cap Oil and Gas EP space: Https:// Upstream Valuation Considerations E&P companies’ primary assets are their oil and gas reserves — that is, hydrocarbons below the surface that have not yet been produced and are economically viable to extract. Reserves can be classified into two main categories: proved and unproved reserves. Proved reserves are quantities (volumes) of oil or natural gas that are recoverable in future years from known reservoirs under existing economic and operating conditions. Within the category of unproved reserves, probable reserves (referred to as 2P reserves when aggregated with proved reserves) have a 50% probability that reserve quantities will be higher than estimated and a 50% probability that the reserves quantities will be lower than estimated, in accordance with the engineering definition of the American Petroleum Institute. Possible reserves (referred to as 3P reserves when aggregated with proved and probable reserves) have a 10% probability that reserves quantities are higher than estimated and a 90% probability that reserves quantities will be lower than estimated. Reserve Reports and Reserve Valuation: The value of an E&P company may be estimated by calculating the fair value of its reserves and then aggregating this with the value of other net assets on its balance sheet, assuming those net assets have been assigned market value. Reserve reports, generally prepared independently by petroleum (or reserve) engineers, are used for this purpose. These reports provide the gross quantities expected from wells, net such quantities to the subject company’s ownership interest, and estimate future prices, operating expenses and capital expenditures. Essentially, a reserve report is a discounted cash flow (“DCF”) model for a company’s reserves, on a pre-income tax basis, and it typically includes the present value of the projected income based on various benchmark rates, frequently ranging from 10% to 25%. Below is a list of key items to consider in reviewing a reserve report and its underlying assumptions: What price deck (commodity price forecast) was used for the reserve report? (Note that engineers do not typically build the effect of hedges or other derivatives into their DCF model. The projections may be aggressive if the NYMEX strip pricing is significantly lower than the oil and gas prices used in the reserve report.) How do the projected volumes compare with historical production volumes? If they are materially different, determine why this is the case. Are proved undeveloped reserves (“PUDs”) included in the analysis? Are probable and possible reserves included in the projections? What drilling and capital expenditure assumptions were used in developing the projections associated with the PUDs? Were plug and abandonment costs considered? Liabilities related to plug and abandonment costs are also referred to as asset retirement obligations. Valuing E&P Companies: E&P companies are commodity businesses that have limited control over the prices they receive. They may vary their production and capital expenditures based on current and future price expectations, and they can hedge their production by using the futures market. As discussed earlier, the DCF method under the Income Approach is one of the primary approaches used to value an E&P company’s oil and gas reserves. The value of the reserves is incorporated into the Asset Approach and the E&P firm’s balance sheet is marked to market using the Net Asset Value Method. The Market Approach may also be an appropriate method of valuing an E&P company, depending on the availability of comparable publicly traded companies or M&A transactions (at either the asset level or the entity level). When analyzing historical or projected financial metrics to use in the Market Approach, consideration should be given to some unique aspects related to the accounting of E&P companies. Financial statements of E&P companies prepared in accordance with generally accepted accounting principles (“GAAP”) may use either successful efforts or full-cost accounting for oil and gas reserves. These accounting methods differ in their treatment of specific operating expenses — namely, exploration costs related to carrying and retaining undeveloped properties, collecting and analyzing geophysical and seismic data, and drilling exploratory wells. Rather than considering EBITDA (earnings before interest, taxes, depreciation and amortization) as a primary pricing metric for E&P companies, analysts usually consider EBITDAX, which is a company’s EBITDA before exploration costs for successful efforts. For full-cost firms, exploration costs are embedded in depreciation and depletion, so EBITDAX equalizes both accounting types. The first step in employing the Market Approach is the selection of appropriate guideline companies. Some of the important screening criteria are the following: Size (in market capitalization or reserve volumes) Gas/oil mix (the percentage of reserves or production represented by natural gas versus oil) Reserve life (proved reserves divided by the previous year’s or current year’s production; also known as the reserves-to-production, or “R/P,” ratio) The ratio of PUDs to total proved reserves (an indicator of how much of the reserve base is currently generating EBITDAX) Areas/basins of operation (e.g., onshore versus offshore activities; specific geographies or shale plays) Once guideline companies have been selected, the following pricing metrics may be considered: Enterprise Value (“EV”) / proved reserve quantities (i.e., EV / barrels of oil equivalent, or “BOE”) EV / daily production EV / EBITDAX Due to the frequency of reserve acquisitions and divestitures among the publicly traded E&P companies, which could distort valuation indications, a forward- or current-year indication of reserves, production, and EBITDAX should be used. The development of forward- or current-year metrics, however, often requires a time-consuming review of press releases and other sources of information. Funnily enough resources do not come into it. When I look at whether an oil company is worth investing in I want both reserves and profitable production. EV (Mk Cap plus net debt or minus net cash) must be less than net 2P reserves times $20 a BOE in the ground. AND EV less than 5 times free operational cash flow from production (can be hard to work out what expenses are associated with production and what is associated with exploration, but I always count full admin costs as being against production). BEFORE I do in depth research, starting with track record of management. If that and financial analysis pans out, there are no law suits going on / pending. THEN I look are what upside might come from resources. I am only ever interested in reserve and resource figures published in CPRs, which I can access in full - if I can't get the full report from the internet somehow, I don't want to know. I certainly do not take figures reported in RNSs or on the company website at face value. Yes there are trading opportunities on others, but those are not investments those are punts speculating on what the hype could do the share price over a few months and I have won a few and lost a few on those.
bbmsionlypostafter: Yeah, right, that makes perfect sense. JimSlade Posts: 11 Opinion: No Opinion Price: 0.00 RE: IG may be wrong Today 19:08 CFDs are a derivative of share price movements, with no share price what can they do. I don’t think this reflects in any way which way the court case is going.
thefozzer: Good Evening Wshak, Thank you for the reply, wild speculation from you but you're entitled to have your opinion. Lets go through your points. 1) No JV will be done which justifies the current share price Assuming a JV is done with a (super) major I think it will be done with a view to fast tracking a drilling campaign at the Taribani and Mtsare oil and gas fields. I assume the super major will free carry FRR on drilling with revs being spilt. Until a deal is announced (assuming one is and this now seems likely) it is difficult to put a value on such a deal. So it's difficult for me to give value to a deal. I think there's more chance the share price will rocket up than go down or stay flat though. 2) YA will continue to sell shares once FRR back down I agree that the YA issue will get resolved very soon, has Zaza been stalling them till the super major deal goes through I wonder? I think FRR are low on cash so I would not be surprised if YA got some shares in the short term. So what if they do get a few payments in shares though? It may help with your short but if a decent deal with a super major is announced the share price will rocket with 1 billion plus share churn days occurring. 3) The T wells are shown not to flow in commercial quantities Well you just do not know this for a fact. If a super major is looking to JV on the Taribani field then this strongly suggests that the T wells have very good flow rates. I give particular credence to the deeper zones here. You do have history on your side though especially with the shallower zones but the deep zones are a new paradigm for both the bulls and bears so lets see... 4) Once again, FRR shareholders have been led down a garden path Well, the focus is now on a deal with a super major, this have been confirmed at the recent share holding meeting. Unless Zaza is a fantastic actor then I believe that he believes that a deal is imminent. The two Majors that are interested in B12 has also been RNS'd twice and picked over by the nomad and lawyers. 5) The share count explodes once again as FRR dilute everyone in order to get more cash in to keep the from going bust. Well Wshak, for the share count to explore the T wells will have had to have failed. The fact that two majors are looking at doing a deal with FRR suggests the T wells haven't failed. Granted it's very possible that YA could get the opportunity to dump some more cheap shares but is this a show stopper if a Super Major deal gets RNS'd? Just a view by me, I have zero inside information.
thefozzer: Loggy, I'm not sure which part of my postings you're failing to understand but you seem obsessed with YA so I'll run with this if you like. The below are only my own thoughts and speculations and not presented as fact. FRR have been paying back YA in cash, not one share placement has been authorised to YA so far. YA have done something irregular with FRR's stock and FRR are investigating this now. If the situation gets resolved which I believe it will then FRR have the option to pay back YA in cash or in shares. I think FRR have limited cash right now and that Zaza is trying to haul FRR over the finishing line with the super major deal without dilution. This said, it would not surprise me if the deal is resolved with YA that YA get a few payments in stock. Then again it would not surprise me if they don't get stock. Loggy, I'm not sure if this is sinking in but FRR are about to do a massive deal with a super major. If Exxon is in an RNS with FRR what do you think the share price will do? It will go crazy, it would not surprise me if the share price spiked to 2p with this being the AIM.
thefozzer: If YA acted illegally and caused FRR share price to decline causing losses to UK investors is this good? Should it be investigated and punished if proved legally?
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