Frontera Resources Corp Live Discussion

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IrishPaul 19 Feb 2018

Re: RNS - Monthly YA Conversion thinks so they issued an update.Application will be made for New Ordinary Shares to be admitted to trading on AIM, which is anticipated to occur on or around 23 February 2018 ("Admission". The New Ordinary Shares will rank pari passu with the existing Ordinary Shares of the Company.

tmhhammers 19 Feb 2018

Re: RNS - Monthly YA Conversion Cut and paste from and old conversion RNS me thinks....."Admitted on the 15th of January" !!!!

Fillpot 19 Feb 2018

Re: RNS - Monthly YA Conversion Apologies for doing politics I will take 500 lines sir,I must not do politics on the bb’i must not do politics on the bb’s . . . .

Fillpot 19 Feb 2018

Re: RNS - Monthly YA Conversion Thanks Irish Paulii are like the bbc, they still don’t do ‘news’Leader of the opposition might be a soviet bloc spy, and still the lot that we pay our license fee for say nothing! Grrrr

IrishPaul 19 Feb 2018

RNS - Monthly YA Conversion Frontera Resources Corporation (AIM: FRR), the European focused independent oil and gas exploration and production company, today announces that on 19 February 2018 it received a conversion notice for the month of February 2018 from YA II PN, Ltd. ("YA" to convert 400 Series A Preferred Convertible Shares ("Convertible Shares" out of its outstanding total of 4000 Convertible Shares. Pursuant to the terms of the agreement with YA, conversion will be made at a price of 0.418 pence, which will result in the issue of 68,124,401 new ordinary shares ("New Ordinary Shares" to YA. The agreement with YA contains a limitation of a maximum of 1,300,000,000 ordinary shares ("Ordinary Shares" that YA is entitled to convert before 16 June 2018. Following this conversion, 1,174,028,322 Ordinary Shares out of agreed 1,300,000,000 will have been converted and issued to YA. Accordingly, YA may only convert a further 125,971,678 Ordinary Shares before 16 June 2018.Application will be made for New Ordinary Shares to be admitted to trading on AIM, which is anticipated to occur on or around 15 January 2018 ("Admission". The New Ordinary Shares will rank pari passu with the existing Ordinary Shares of the Company.Following Admission, the Company will have 15,634,875,871 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 15,634,875,871 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.This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Devex 19 Feb 2018

Re: Weekend reading....... mMax1 - yep you have to laugh sometimes. I think Total Oil are the big boys around that part of the world and the scale is staggering.I guess I get my head around it be telling myself that I'm probably invested in them via some fund or other. Total MCap is over £100 billion so I hope they won't worry too much about FRR creeping up on them!

mMax1 19 Feb 2018

Re: Weekend reading....... Thanks Dev, been very useful.It's given me a good laugh, this dreary Monday morning.Last night I bumped into an old pal who is home for 4 weeks. His job is a shift manager on a rig off Angola that produces over 100,000 barrels a day. He told me some useful snippets in the life of running a complex rig.I really wanted to tell him about this magical company I'm heavily invested in, Frr, whose current campaign might achieve 300 barrels a day, but I knew better as I would have had to pick him up off the floor!!😀

Devex 19 Feb 2018

Weekend reading....... I hope everyone had a great weekend. I squeezed in a couple of things into a busy few days that maybe of interest here. First I walked along the Thames and for the first time saw a black swan on the river. Fantastic sight – but no more comment.Second – I had another read of the first WHI report (that values FRR at $484 million if all goes to plan), and also the PI presentation from Jan 25th. There are a host of useful bits and pieces – mainly oil related of course – and if it is the detail that turns you on here are a few snippets.- Very interesting section on oil sales. Currently sent to Dedopliskaro by road tanker, and stored until they have accumulated between 10,000 and 20,000 barrels – then off to Batumi. They get paid into a foreign bank account once the oil is into the commodity market. Now that is a chunky shipment – worth around $500,000 to $1 million a time, but I suspect the cash flow experience is not great. Probably no more than 3 to 5 of these payments a year at present, and perhaps further emphasises the need to have good financing ahead of a big drill programme. Also why an oil pipeline is so important once things have scaled up – not only to reduce costs but also to speed up cash flow - Zone 9 – the only one already in play – has according to NSAI just 20% of the oil in place. The deepest – zone 14 - has 48%. So you can see why WHI are suggesting a figure of 4x the average historic production for just one well. Maybe more.- The economic model re WHI valuation assumes just 4 wells coming on stream this year, a further 5 in 2019, 6 in 2020 and thereafter quite a rapid step up- The detail on the decline rates is interesting (see earlier posts) – and we can assume quite high flow rates in the early years followed by a steady decline – offset of course by a steady stream of new wells- The upshot is an estimated 5000 bopd by 2020 – which would deliver around $300,000 per day – or around $110 million per year. As the OPEX is so low, and the first 3 wells are already funded, plus the cost recovery agreement still in play, this all looks very positive. Important of course because the long-term debt has to be either paid or re-negotiated in 2020.- There is another kick up around 2022 – circa 12 new wells – and production estimated at around 20,000 barrels per day. That is circa $450 million per annum and I guess it is around that point that the cost recovery pool starts to evaporate. - Production peaks quite a few years out at 45,000 bopd – which if they achieve it is over a $billion revenue per year. More if they extend the target zones, or if the technology gets better, or if they can accelerate deployment- Finally useful comment in the annex about the history of Niko. The historic problems are very much centred on serious issues with the cementing, which they never overcame. In fact they never fracked the well because of these problems - but still got initial flow rates close to 1000 bopd. I suspect that the lessons of the past are very much in mind – and of course Dustin and Co are adding to the expertise. Reading the history suggests that they may have tried to do things on the cheap in the past – so the recent funding could be critical to future success. Ie - get the right people in and do it properlyThen there’s the gasAnyway – enough for now. Hope this is useful to others.

KALAN 19 Feb 2018

Re: Reflections...... All quiet this morning - about a week to drill completion (if they don't mess it up) then stimulation. UD2 bad news may be sneaked out under any decent oil news or maybe, just maybe both will come good (against all previous FRR history).On balance worth a gamble - so I have put up at .48p and change.Biggest aim to drill on AIM.

tmhhammers 19 Feb 2018

Re: PB Yes got them next day -with Barclays - had to fill something out online then told HAD to send it via post but when i checked the shares were there.

thefozzer 19 Feb 2018

PB Howdoo fellow holders.Has anyone received their PB shares yet?I'm still waiting!!! They took about a week last time.Cheersthefozzer

KALAN 16 Feb 2018

Re: Reflections...... Drilling hopefully complete by end of Feb and stimulation to start in March I believe - you will have to be a bit more patient Seymore - everything comes to he who waits.

Nice to Michu 16 Feb 2018

Re: Coincidence???or not I hear you Fillpot! Golden Saint Resources is directly next to FRR in my portfolio and it says: '.018 Delisting'. I've nearly had big triplets on more than one occassion.

Fillpot 16 Feb 2018

Re: Coincidence???or not GeelaI opened my portfolio this am (BP is directly above FRR in my portfolio) all I saw was NEWS and +2.55 I nearly had a small child! One day Rodney, One dayHave a great weekend everyone

Geela 16 Feb 2018

Coincidence???or not that BP is the advertising banner at the top of the page - "Atoll, Egypt first of six major project start ups this year - click here to find out more!!!!"One day....keep dreaming!

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