who knows mate. I would have expected, given the last few rns that we would having assured the market that we can deliver and are now 99.9% de risked, have an increased revenue with a forward view which is being met, be around 4p just now.
Im quite happy to take daily 5 - 8% increases in SP- far better that than 150% hike then large retrace to fill gaps. The market likes to fill its gaps. Where do i think we will be and where we will actually be are 2 very differing numbers. $36 million dollar farm out with revenues in excess of $18 million dollars wit a market cap of circa $30 mill.
In the 27th of June RNS it states that "plans are underway to commence phase 1 of the varang farm out agreement. That should be contained in a juicy RNS very soon. Extract below.
Houston, Texas, U.S.A. - 27 June 2014
FRONTERA ANNOUNCES 2013 ANNUAL RESULTS AND OPERATIONS UPDATE
Frontera Resources Corporation (London Stock Exchange, AIM Market - Symbol: FRR), an independent oil and gas exploration and production company ("Frontera" or the "Company"), today releases its audited final results for the year ended 31 December 2013 and provides an operations update. The report is made available on the Company's website at www.fronteraresources.com.
- Revenues from crude oil sales for 2013 totaled $6.1 million.
- Net loss of $11.2 million, or $0.005 per share on a fully diluted basis.
- Gas production operations ongoing at the Mtsare Khevi Gas Complex.
- Frac and workover/stimulation campaign underway at Taribani Field.
- Plans underway to commence Phase I of the Varang Exploration farmout agreement.
an extract from the 27th june RNS -The Taribani Field Complex is an area that encompasses approximately 1,400 square kilometres and includes the discovered yet undeveloped Taribani, Kila Kupra, Bayda and Iori fields within Block 12. Internal preliminary analysis suggests that there could be as much as 18 billion barrels of oil in place throughout this complex. Ongoing work throughout the remainder of this year will continue to study and assess the viability of this analysis and larger scale development potential. Independent assessment of the Company's conclusions are expected to now take place in 2015 in conjunction with new drilling operations.
well worth reading that RNs in full if your new here or if you need reminding that this is the very, very, tip of a potentially rather large iceberg.
Lots more news to come in the near term. Lets start with government ratification of the Varang farm out.
Just a short note from me as I'm back in blighty and working :( Today's RNS - wow what a breath of fresh air and if you look over on the iii bb ChampionWonderhorse 11:32 post covers the "reason for today's RNS" perfectly :-) Hope to catch you all later. ATVB. VW
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