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Frontera Res Share Chat (FRR)



Share Price: 0.10Bid: 0.09Ask: 0.11Change: 0.00 (0.00%)No Movement on Frontera Res
Spread: 0.02Spread as %: 22.22%Open: 0.10High: 0.00Low: 0.00Yesterday’s Close: 0.10


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bugsy-b
Posts: 3,106
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fireflying
Today 19:08
I would think the text (if we could translate) would be similar to the last gas auction from Ninotsminda...
This was in May 2015, The only change I would say is May 2015 price was $310 per 1000CM, This latest auction is $260 per 1000CM.. I don't think that's a bad price in these times..

http://www.gogc.ge/en/page/gogc-announced-an-auction-for-the-sale-of-2-million-cubic-meters-of-gas
 
Fireflying
Posts: 1,108
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Price:0.10
RE: Gas auction
Today 18:49
One day it will be ours......
Puddy
Posts: 4,602
Premium Chat Member
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Price:0.10
Lets hope the Georgians got their
Today 18:38
Shares the Sunami is comeing
bugsy-b
Posts: 3,106
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Price:0.10
RE: Gas auction
Today 18:36
Fireflying, Very nice find mate.. I think this gas is actually Blakes/Canargos gas from Ninotsminda field.. But what will be interesting is the price it fetches at auction.. As for the text that wont translate that's very odd.. I tried translating it and it changes to Esperanto when I paste it.. It appears that the auction price will start at $260 per 1000CM
Fireflying
Posts: 1,108
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Price:0.10
RE: Gas auction
Today 18:35
Yup, I genuinely cant remember an RNS ever announcing a specific auction and actually, the issues with the ministry were in my understanding more related to the status of the field (production vs exploration) and how that reflected upon the status of the revenue from gas sales - rather than a physical barrier to selling.

This is the key line from the May 16th RNS:
"....have been consistently delayed due to the Ministry of Energy's discouragement of investment in the ongoing exploration of natural gas resources. Discussions are ongoing to alleviate the Ministry's opposition to this work. In the meantime, Frontera has the capacity to deliver this volume of production from its exploration operations as previously announced on 23 December, 2015 and the Company is hopeful that a swift resolution can be achieved in order to continue to progress gas exploration efforts."

Maybe a resolution has been found......
Retireby40
Posts: 1,695
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Price:0.10
RE: Gas auction
Today 18:31
*so would've been announced
Nolosstillsell
Posts: 1,703
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Price:0.10
RE: Gas auction
Today 18:28
It wouldn't be the first time we have been told after the event though RB40.

Nice find fireflying.
Retireby40
Posts: 1,695
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Price:0.10
RE: Gas auction
Today 18:22
If it was ours I think we'd have had an RNS last week as it's market sensitive so wouldn't been announced once they got the green light. Hope I'm wrong and good work finding the info.
Fireflying
Posts: 1,108
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RE: Gas auction
Today 18:17
http://www.gogc.ge/uploads/other/1/1067.pdf

If anyone can get this to translate it would be good - Google translate wont do it.
Fireflying
Posts: 1,108
Off Topic
Opinion:No Opinion
Price:0.10
Gas auction
Today 18:10
Afternoon all,

Now all of a sudden a gas auction’s popped up on the GOGC Tenders page dated 23rd August. I’m sure that's only turned up today and wasn’t there when I looked a couple of days ago:

“JSC Georgian Oil and Gas Corporation offers the potential buyer in Georgia, Ninotsminda gas from the available gas obtained a total of 2,000,000 (two million) m3 volume.”

http://www.gogc.ge/ge/tenders
4th item down but it disappears when you click ENGLISH top left, so copy and drop it into translate.

Assuming the $7 USD per mcf as quoted in the Q&A:
((2,000,000 m3 x 35 = 70,000,000 ft3) / 1,000) x $7 = $500,000 USD

Is this our gas I wonder? We never did clear up the "Ninotsminda" gas mystery…..
We saw auctions of Ninotsminda gas when we were previously selling.... and here it is again.... So maybe it's ours.

Maybe the ministry have given a green light…..
Maybe this is the first 10 days worth @7mmcfd.
Maybe this is testing from Udabno - pre the CPR.

Bottom line: someone has half a million US dollars worth of gas to sell and is PERMITTED to sell it - that's important!




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