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EXCLUSIVE: Ascent CEO Colin Hutchinson with latest on review and permitting


Frontera Resources Share Chat (FRR)



Share Price: 0.265Bid: 0.26Ask: 0.27Change: -0.005 (-1.85%)Faller - Frontera Res
Spread: 0.01Spread as %: 3.85%Open: 0.27High: 0.28Low: 0.265Yesterday’s Close: 0.27


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dirkdigler
Posts: 1,615
Premium Chat Member
Opinion:No Opinion
Price:0.265
RE: Just a thought
Today 19:23
thanks star...just used being let down by this pile of shxte for so many years unfortunately i waver to the pessimist in me. Im sure if bp had their licence georgia would have been energy independent 15 years ago ......
 
StarRage
Posts: 823
Opinion:No Opinion
Price:0.265
RE: Just a thought
Today 19:10
Dirk, check the RNS again. There is no 60 day test. The RNS states that they will add zone 9 after producing from zones 14 and 15 for 60 days. There are no timeframes given for the subsequent test of all 3 zones. No point getting worried over a timeframe they have never given.
dirkdigler
Posts: 1,615
Premium Chat Member
Opinion:No Opinion
Price:0.265
Just a thought
Today 19:01
Just maybe if we didnt have such an incompetatnt ceo in mr yellow tie for so many years we just might have got a slight return on the $100s millions invested in this country...??? he spun a good web and caught us mere fodder....sorry but zaza needs to release some news, as tsbs stated earlier it is FACT that when news is overdue it is generally bad....heres a question, if you put a well on a 60 day test, why would you continue for another 60 days....i really dont understand so hopefully someone can enlighten me....one other point, although its always very bullish when ceos have personally invested...what strikes me is that people presume its a given that it comes good??? unfortunately it doesnt work that way...a very annoyed dirk back from holiday having to work again!!!
mapp
Posts: 861
Opinion:Strong Buy
Price:0.265
Cashout
Today 18:54
cash, cash, cash. ZAZA is trained to be a Doctor and
worked in the Financial Markets. Has Mr. Cashout
any qualifications or is he just another flipper without
brain?
vinnyacht
Posts: 466
Opinion:No Opinion
Price:0.265
Sp
Today 18:30
Some great posts on here today. Many thanks to all the posters in the know on this board. And a special thanks to Mr Mole with his tireless. And indepth knowledge of the ins and outs of this company. I anticipate a good if not great rns very shortly to get this SP where it belongs on the up. And running. News could come out of the blue. Lots going on in the background. Sure as eggs are eggs. But for me. Im more than happy to wait till September. All those lucky sods who have bought at this price. Jammy sods haha :)
pyrotech
Posts: 5,071
Opinion:No Opinion
Price:0.265
RE: Mole / Devex
Today 17:59
Hi Mole

So would it be feasible that GOGC do not want to pay any costs for anything gas related , until we prove revenue and commerciality,
With GOGC saying to frontera - no way are we paying for study work and drilling of likes of UD2 unless you prove commercial discovery that is worth more \\\\9many times) than the costs.

In that respect i can understand frustration from both sides, FRR trying to prove and GOGC saying its not a open check book to look for anything and we will not be paying that out of oil revenue. It will only be repaid out of gas Revenue.

Which would be a very technically difficult argument for either sides lawyers to fight and win.
Timster
Posts: 3,087
Opinion:No Opinion
Price:0.265
RE: The CLOWNS
Today 17:38
I don't like flippers either !?!
mapp
Posts: 861
Opinion:Strong Buy
Price:0.265
The CLOWNS
Today 17:13
are the moaners who do not understand
INVESTMENT. ZAZA does and he must find
the flippers pathetic.
Cashout
Posts: 50
Opinion:No Opinion
Price:0.265
Silence
Today 17:06
Usually means one thing with zaza the clown - where is the news???
Tsbs
Posts: 8,202
Opinion:No Opinion
Price:0.265
RE: Mole / Devex
Today 17:02
gas 🤪
Tsbs
Posts: 8,202
Opinion:No Opinion
Price:0.265
RE: Mole / Devex
Today 16:58
cant see how the georgian dont know we ve been looking for gas

and cant really see them being too bothered about us getting our costs back for oil

if the georgians allow us to get our cost back for both gas and oil then theyll get through the 400m + alot quicker and therefore be paying the georgians their cut a lot sooner
Moleinahole
Posts: 4,227
Opinion:No Opinion
Price:0.265
RE: Mole / Devex
Today 16:55
Pyro - just back from my afternoon meetings.

If you look at the excerpts in things like the back of the AIM listing documents and CPR's then you definitely get a partial view. This is well demonstrated when the company published the actual bit of the PSA a few months ago explaining around the Study. I suspect there are quite a few areas where it is not as well drafted as it could be and equally I am 100% certain there are more provisions than we know about. Remember at the time it was drafted they knew about associated gas but have always been sceptical of the deeper gas. But don't forget gas was not as important then as oil - it was probably as much a nuisance to be handled rather than sold in an oil field.

On the gas there are various definitions of hydro carbons used and yes there is some ambiguity in the 2nd hand bits we have seen. But personally I can't see how you could not classify the gas/condensates with the oil if you make a discovery which I think the deeper gas should be classified as - as opposed the 6 existing known oil fields. A lot of the published part of the PSA we have is around cost recovery pool - hence the declaration of commerciality alters the recovery % at that time for the field subject to the declaration and as Devex says that might be where they want to talk.

The prophets of gloom implied the dispute was over relinquishment (presumably of unexplored or parts of the block not being actively explored) at the end of the exploration phase. The short answer to that is that GOGC have never published that and FRR have not commented on the detail since April 2018.

Devex the registration of GOGC as a lobby interestingly seems to go back to early 2017. Whilst it could link into the spat with FRR - equally remember at that time the Georgians were in debate over the gas contract with Russia and Azer. I will do some more research tonight when I get home on the US government websites as I want to see any actual original lobby documents submitted not a second hand report as the activity only needs to be reported on 6 month returns for the foreign lobby via DOJ not quarterly.

Having said that if they are lobbying about our PSA (as opposed to something else) maybe it shows that FRR do indeed have friends in high places, possibly do have a string case or the Georgians are worried that they could get themselves sanctioned if they miscalculate.

I'll finish by saying that if an arbitration request had actually been received in detail then I would expect that to have been more visible firstly from the SAOG and GOGC and secondly from Frontera in an RNS.

As I say when I get home tonight I'll do some research on US govt sites. But I did notice their lobby seem to do alot of work for Ecuador - so might be an interesting search! I am also interested in why GOGC did not fall under the commercial exemption for their reporting via DOJ - that itself may mean its aimed more at Congress threats to sanction rather than arbitrati
pyrotech
Posts: 5,071
Opinion:No Opinion
Price:0.265
RE: Mole / Devex
Today 16:42
Thanks devon
Yes i think we are seeing the same potential issue here, The PSA and just the wording which can legally be challenged by either side as being interpreted differently.
If its the accrued costs on gas and we lose those costs i could live with that, although i could see zaza arguing that the GOGC will make lots of revenue from the gas if it flows in commercial quantity.
I hope end result (if that) is we get accrued costs back from sales of oil, for the oil as it flows - then if we get gas to flow that we get that paid back from any revenue it generates. In other words if we choose to look for gas and its unsuccessful, then we do not get the costs back for drilling gas wells.

In your opinion, would it possibly be we submitted costs recently that included for UD2 and gas, where Govt argued that they were unaware we were looking for gas and that they are not paying costs for it, unless of course we get commercial flow and revenue?

Thanks for your reply, as always a font of knowledge on this company and appreciated
offtheball
Posts: 424
Opinion:No Opinion
Price:0.265
RE: Which conspiracy next?
Today 16:32
Conspiracy - A secret plan by a group to do something unlawful or harmful. The action of plotting or conspiring.

Is this really your take on things Richard1032 ?
MaxHSpringer
Posts: 6,303
Opinion:No Opinion
Price:0.265
What is a code
Today 15:50
2? A pudgy finger at the shorters!
Timster
Posts: 3,087
Opinion:No Opinion
Price:0.265
RE: Re : Pyro
Today 15:44
Next month is always exciting for FRR!!
Or next week
Or next year

I can't wait till the next exciting bit...
DevonianExile
Posts: 772
Opinion:No Opinion
Price:0.265
RE: Mole / Devex
Today 15:42
Pyro et al - re the article this morning picked up by DG (bizarrely just after I had replied to Kipper) it is worth a track through the source site (iFacts). Basically a forum for either attributed - or in this case unattributed - journalists and activists who largely use the internet to do their research. They also invite readers to supply data.

The only new news here is the finding that GOGC is also lobbying via Hogan Lovell - which seems to have been initiated quite early in the year judging by listing of recent commissions. As far as I am aware no-one spotted this prior to today. All the rest of it is old news or information pieced together from the likes of the April RNS (they have clearly picked up a sentence or two here) and the report on sanctions (which also needs to be treated with caution given the looming Presidential elections). So I think Mole is right that we view this with some care.

Re the PSA I am equally sure there are still issues, but in the main we have to go back to the 2011 Admission document and its brief summary of the contract for clues. These contracts get amended by mutual agreement all the time at one level, – and whether changes are material (ie disclosable) or not will be a judgement call. Clearly this dispute is proving difficult to resolve but, despite the iFacts article this morning, the April RNS is the most recent attributable statement from either party on the subject.

The 2011 PSA summary generally refers to oil and petroleum - and is clearly written as if oil is the main theme. But petroleum products are also defined as oil and gas - and there are some references to gas - so you are right about this being potentially the area of dispute. My bet is that ether GOGC don't like accrued costs being offset against oil AND gas – given the potential of the gas opportunity - or being applied in the way they are stated (ie -all up front) given the scale of the offset. But anything further at this point is pure conjecture

JMO
RainbowRider
Posts: 860
Opinion:Strong Buy
Price:0.265
Re : Pyro
Today 14:53
Absolutely agree.
All good here.
Lots of good things are happening, and have been well documented on this board.
I am completely happy that Zaza knows precisely how to play the political game.
Onwards and Upwards.
September is going to be bludy exciting. Me thinks !
Richard1032
Posts: 52
Opinion:No Opinion
Price:0.265
Which conspiracy next?
Today 14:36
YA yesterday, arbitration today, will it be a Russian invasion tomorrow or a man dressed as a ninja stealing our train full of oil?
CF73
Posts: 5,672
Opinion:Strong Buy
Price:0.265
RE: Mole / Devex
Today 14:27
Thanks for that great post pyro.

I also remain open to the Gas situation :-))
offtheball
Posts: 424
Opinion:No Opinion
Price:0.265
RE: LOBBYING
Today 14:24
*1998
offtheball
Posts: 424
Opinion:No Opinion
Price:0.265
RE: LOBBYING
Today 14:24
Nearly Pyro.

1998 - $40,000

2017 - $60,000

2018 - 120,000 so far.

$220,000 Total for 1997,2017 & 2018 as it stands.

All available from the link I posted earlier under Summary and choosing the year.
pyrotech
Posts: 5,071
Opinion:No Opinion
Price:0.265
Mole / Devex
Today 14:22
Quite busy today so off top of your heads can you remember what the PSA said in regards to gas .

For some reason and its nothing more than a hunch, i have the feeling this is about the deep gas. I am just wondering if the GOGC are playing on wording about what we were in exploration for and to go on to produce

Hydrocarbons means all
Oil means oil
Could there be something in it for an area, or depth that leaves it open to some interpretation however weak that may be.
Either they got fed up with time FRR were taking or something FRR found woke them up.
Hense my " you do not fight over an empty box"

Would be good to know if something in the agreements could be argued in this way.

I have no fear here at this time. Yes SP is low but i am still in hope to buy more

To put things in prospective, i am selling a house i rented out, 3 times the sale fell through. Different reasons each time but mostly the availability of a mortgage for the buyer.

All those unexpected and frustrating delays just on sale of a house, so with this oil and gas game you can see how much can happen to hold things up, slow things down and go wrong at times. Frustrating yes, but hell even in my little world things have delayed as long and im still waiting money. So FRR - big scheme of things is just part of every day delays but on grander scale
mcadder
Posts: 1,524
Opinion:No Opinion
Price:0.265
RE: LOBBYING
Today 14:17
Good post pyro and makes a great deal of sense re the current political landscape. All of this should ultimately benefit FRR and despite the doom and gloom floating around here I am very positive for the next few weeks here and beyond.




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