Share Name Share Symbol Market Type Share ISIN Share Description
Frontera Resources Corporation LSE:FRR London Ordinary Share KYG368131069 ORD SHS USD0.00004 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.04p +6.84% 0.625p 0.62p 0.63p 0.745p 0.585p 0.585p 334,250,116 15:40:33
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 2.5 -19.1 0.3 2.2 90.61

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Date Time Title Posts
22/1/201816:27FRONTERA AND BEYOND8,017
25/10/201716:43Frontera Resources - Marching Through Georgia73
02/10/201717:53The Simon Cawkwell FRR Ј20 a share thread18
14/7/201513:10Frontera - troll-free thread16,583
20/11/201315:00Frontera Resources Plc - Potential Caspian Giant1,611

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Frontera Daily Update: Frontera Resources Corporation is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker FRR. The last closing price for Frontera was 0.59p.
Frontera Resources Corporation has a 4 week average price of 0.48p and a 12 week average price of 0.44p.
The 1 year high share price is 0.88p while the 1 year low share price is currently 0.06p.
There are currently 14,497,798,708 shares in issue and the average daily traded volume is 111,971,695 shares. The market capitalisation of Frontera Resources Corporation is £90,611,241.93.
tickboo: I am fully loaded on both and although WAND looks a no-brainer to me I'm leaving money in FRR as if it does do well the upside of significant. If and a big if, ud-2 is deemed a success it will prove up the wider field and could be a game changer.If it fails the share price will get battered but if the oil plays go well it will recover. Am going on 25th so will have many questions for Zaza and hopefully we get news beforehand or he'll be in for a tough time.
tickboo: I hope there's not an RNS tomorrow with it being a Friday! The share price fall is annoying but I'm not a trader so either hold or sell. I'm still confident, hence I'm holding. I'd obviously prefer to be higher but am pretty relaxed. The share price will probably drop first thing tomorrow and then increase early arvo which seems to have been the recent trend.
loglorry1: Quelle surprise - the small bump created by a BS RNS is once again sold into. If this is what happens to the FRR share price on so called good news - can you imagine what will happen if flow rates at UD2 disappoint?
loglorry1: Always the same with these small cap resource companies. Never ever is it bad news just endless excuses. If UD2 was commercial they'd know after 7 weeks of testing. The bulls will spin it one way or another but this job was a relatively simple work over performed and test. The total spend was supposed to be 500k. I'm afraid this is not rocket science. The lack of any flow rate in the RNS speaks volumes. If the whole market wasn't so euphoric right now the FRR price would be sub 0.1p already.
nobull: telbap, google "commodity price leverage". The oil price is at a 2 year high according to the business section of the Daily Telegraph website this morning. It is perfectly reasonable that FRR should go up (small reduction in anticipated losses has to be incorporated into the share price, if the market is to be efficient at pricing anticipated cash flows). FRR is also financially leveraged, so the effect is even greater. I doubt the market has any personal dislike of WShak, loglorry or anybody else. It just reacts to oil price changes. If you think high share price volatility is a sign of a good company to be invested in and you are not too fussed about the difference between exploration and production licenses and you don't mind the management blurring the difference, and you don't mind long winded RNSs that describe in mind boggling detail why they fail to generate revenue, then this is obviously the stock for you. Good luck.
mick1909: Very interesting. Thanks for the info. So basically, it sounds to me like they're estimating to have about 5 zones, at around 4-5 MMcf/D each. So whereas their original estimate for the flow rate potential at Ud-2 was for 10-20 MMcf/d, that appears to have now been bumped up into the 20-25 MMcf/d range. If those are the rates they get, I think that would be an excellent result, and should be more than enough to demonstrate the commercial potential of the project. As far as potential valuation, here's my quick take on it: If we put aside any gas potential at Taribani, or elsewhere in Block 12, and just look at the MK area where they're currently working, they suggest that almost 6 Tcf of gas could be recoverable in this region. Perhaps a good starting place for valuing 'discovered resources' may be in the range of around $2 per barrel of oil equivalent. I base this on other sales in recent years, including working interest sell-offs of Shah Deniz by both TOTAL and Statoil. It's not completely an apples to apples comparison, since Shah Deniz is further down the road of development, but I think this is somewhat countered by Block 12 being onshore, in an arguably more favorable country for investment, plus having other wells previously drilled and able to be re-entered, and having an already well developed infrastructure in place, including both domestic and export pipelines. So all together, I think a Net Present Value (NPV) of around $2 per barrel of oil equivalent for actual discovered resources is a reasonable starting point at this time. And once these resources are further proven up as P1/P2, they would likely get an even higher valuation. 6 tcf, the current estimate of potentially recoverable gas in the MK area, is roughly equal to 1 billion barrels of oil equivalent (boe). So, at $2 per boe, that would give the MK gas an approximate current valuation of $2 Billion, which would equate to an FRR share price of roughly 10p. And again, this would just be based on the MK gas, and wouldn't include gas from Taribani or other areas of Block 12. It also wouldn't include the oil. So therefore, with successful testing at Ud-2, I could see the market begin to re-rate FRR towards an initial valuation of 10p, based solely upon the MK gas alone, whatever speculative value the market places on additional Block 12 prospective resources. just my opinion
tickboo: JakNife, you obviously have an agenda here, do you have a short on the go? I hope so as if not you're another saddo with little to do if you're spending time on BBs and the like talking down PLCs. I doubt you're here for the greater good so you have a short. I'm holding here and am not telling anyone to buy as anyone listening to a random punter on a BB needs their head looking at. The CEO just put another £1m into the company. After years of missed targets and disappointment FRR seems to have finally turned a corner and if ud-2 is a success and can deliver 5-15 scuffs it'll be a game changer both revenue wise and improve the already impressive CPR. Reserves can be booked so balance sheet improved, revenue a lot better and FRR is a strong position re a JV. Still risky as if it's a failuer the share price will no doubt fall a lot but at leas the oil play is now in play and fully funded so there's contingency. I think FRR is in the strongest position it ever has been.
loglorry1: I don't think Yara will want to allow SEDA before their Convertible is totally converted. I suspect that we'll see a relaxation of the restriction of the amount of convertible that can be done before June 2018. The company will claim that due to the rise in share price and the ability to convert at higher prices e.g. 0.47p (last time) it makes sense for both parties. That is probably a quid pro quo for Yara giving them a higher conversion price than the discounted 10 day VWAP as per the terms. Then obviously Yara will have carte blanche to smash the share price again using the CBs. As you say though that doesn't bring in any cash. They had $57K at end of 2017H1 and raised £500K post close. However cash out flow was around $5m per half year (using the 2017H1 numbers) so all that will have been spent and you have the work over to pay for. Even with a decent flow result it will need further appraisal before the spend on a pipeline and the company just has no funds for that either. Longer term you still have an enormous bond to pay off in 2020 and the significant license risk on Block 12 only a month and a half away. EDIT: Sorry its not discounted 10 day VWAP the exact terms are :- "The price at which Frontera Cayman will issue shares to YAGM will be 95% of the lowest daily volume weighted average price of the shares during the 10 consecutive trading days beginning on the first trading day after the relevant Advance Notice (the "Pricing Period"). "
researchanalyst1: JakNife, if the stock market was the perfect arbiter of value, then anomalies such as Frontera just wouldn’t occur. The reality is, the stock market is often wrong, and sometimes very wrong. The reasons can be many. But human psychology and poorly informed participants are often the causes. This is not always a bad thing as it creates substantial opportunities for the savvy investor – who rushes in to snap up decent companies that are grossly mispriced (when the company’s share price does not match the value of the underlying business…) by the market. JakNife, Howard Stanley Marks, the serial value investor and founder of the multibillion, wealth management firm Oaktree Capital Management, once opined that: "All intelligent investing is value investing; acquiring an asset for less than its value means seeing what everyone else sees and thinking what no one else thinks." JakNife, prior to any announcement, Frontera’s share price should be trading at 1.76p on the appraised value of its current portfolio. To this end, the market has grossly mispriced the stock and this should present a spectacular opportunity for patient investors willing to exploit this market anomaly. And should an announcement be dropped this week, expect the share price to ruthlessly multibag. Thus, I have only two words: OBSCENE UPSIDE.
nobull: "If you have questions about the geology then look at the updated presentation on the Frontera web site. You might find it answers a lot of questions." The only thing the geology has yielded in Georgia FOR SHAREHOLDERS (as opposed to for the host government) is a small amount of commercial gas sales, and these are too small to keep the cost of capital low enough to have a viable business, and in any case because of the high cost of capital, these revenues get sucked off by salaries and death spiral financiers first. As long as Nicandros talks about adding "value creation INITIATIVES" and "value POTENTIAL", you know he has no interest in creating or adding VALUE (one adds bets for the CEO to take, while the other gets the share price up)- I switched off the presentation as soon as I heard "value creation initiative". I have no idea if the 'conference call' was a monologue again or not or whether the presentation was full of talk about "technical successes" (non value adding type of success) but if the VCIs had 100% chance of failure, Nicandros would be in jail. If they have only a 0.5% chance of success, then Nicandros is a law abiding citizen. I imagine if the latter is true, then to go on selling new shares you have to downplay or hide the low probability of success where the probability is a combined one that includes both the geology and the behaviour of the Georgian Govt., things FOF does not ask technical questions about. I still own my shares, but I have never felt more disillusioned with Nicandros. He is not a fraudster, but is the closest thing to it you can be, without actually being one, at least while he continues to avoid proper shareholder accountability and while he continues to talk "technical success" and "addition of value POTENTIAL". Nobody knows better than he does the real chances of success and ,that once the Georgian exploration licenses expire the loss of past exploration expenditure is crystallised for even the most rose tinted investors (Devex, Mole, SB) (even if the accounting policies long ago recognised the same expenditure as a loss). What happens when the Georgian exploration license expires? Nicandros has shipped in a whole load of replacement bets (Moldova), which leaves the company no nearer to the commercial success it craved in 2005 (the share price has already discounted all that, with its £1.50 to 0.3p move). Only a complete shareholder rebellion will make Nicandros change his behaviour. With plenty of people around to submit tame questions, the chances of that are slim. Avoid, despite even a share selling 'business' offering what traders need, share price volatility, as there must be better chances of success with genuine oil and gas explorer developers. AIMO. DYOR.
Frontera share price data is direct from the London Stock Exchange
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