Mike Ralston, CEO of Blencowe Resources (BRES) and Manuel Pablo Zúñiga-Pflücker, President and CEO of PetroTal (PTAL) will be presenting and taking live Q&A at focusIR's Investor Webinar on Tuesday 25th February. Please register here.

Less Ads, More Data, More Tools Register for FREE
Sponsored Content
Don't want ads? Click here
Sponsored Content
Don't want ads? Click here

Pin to quick picksFrontera Resources Share News (FRR)

  • There is currently no data for FRR

Watchlists are a member only feature

Login to your account

Timelines are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Frontera goes to court over Outrider loan note squabble

Fri, 12th Oct 2018 08:31

(Sharecast News) - Oil and gas firm Frontera Resources filed an action in the Grand Court of the Cayman Islands in relation to loan notes issued to Outrider Master Fund.Frontera's wholly-owned subsidiary, Frontera International Corporation, issued the loan notes in question to the California-based Outrider Management's fund back in 2016, with a due date in 2020.The court granted Frontera's request for an injunction and assured investors that it intends to "vigorously assert its rights".The 2016 notes accrued interest at the rate of 10% per year and were convertible into shares, at the option of the holder, at a conversion rate of $0.25 per share. During 2016 the Company elected to pay the quarterly interest payments in kind and issued approximately $1.8 million in additional convertible notes in accordance with the terms of the note purchase agreements.On October 2016, Frontera and Outrider Master Fund agreed to exchange the notes for new secured unconvertible notes maturing on 1 August 2020, followed by the issuance of new notes on the same terms to other holders of the 2016 Notes. As a result of this exchange, the note holders exchanged $30.1m of principal in the original notes into new secured notes due August 2020. There was $1.5m in associated interest.Frontera has also been locked in a dispute with investment company Yorkville Advisors over convertible shares.In other news, Frontera, which received a request for arbitration from Georgian Oil and Gas and the nation's State Agency of Oil and Gas regarding certain terms of the outfit's production sharing contract back in April, also told investors that arbitration proceedings were continuing and that it remained confident of its standing and "complete compliance with the PSC".As of 0905 BST, Frontera shares had climbed 4.35% to 0.40p.
More News
13 Apr 2016 08:28

Frontera Resources Finance Chief McGregor Retires

Read more
7 Apr 2016 14:47

Positive progress for Frontera Resources at South Kakheti

(ShareCast News) - Independent oil and gas explorer and producer Frontera Resources updated the market on positive progress at its South Kakheti Gas Complex on Thursday, situated within its upstream portfolio in Georgia. The AIM-traded company had announced the commencement of operations within the

Read more
7 Apr 2016 08:42

Frontera Stimulates Wells In Georgia Ahead Of Larger Drill Programme (ALLISS)

Read more
21 Mar 2016 10:54

Frontera To Start Drilling Four Wells At South Kakheti Imminently

Read more
25 Feb 2016 15:29

Frontera settles bills with new share issue

(ShareCast News) - Frontera Resources settled some sizeable bills on Thursday, through the issue of 100 million new ordinary shares. The AIM-traded independent oil and gas exploration and production company said the issue was for the settlement of $736,000 (£529,000) in fees, due to "certain unrelat

Read more
25 Feb 2016 09:08

Frontera Resources Issues Shares To Pay USD736,000 Fees (ALLISS)

Read more
9 Feb 2016 15:00

Frontera Resources solidifies move into Ukraine

(ShareCast News) - Frontera Resources moved to solidify its expansion into Ukraine on Tuesday, signing a memorandum of understanding (MOU) with UkrGasVydobuvannya (UGV), a subsidiary of the country's national energy company Naftogaz. The AIM-traded independent oil and gas exploration and production

Read more
9 Feb 2016 09:40

Frontera Resources Signs MoU With Ukrainian Energy Company Subsidiary

Read more
14 Jan 2016 11:18

Frontera Close To Substantial Oil & Gas Production From South Kakheti

Read more
23 Dec 2015 11:07

Frontera Resources ups gas-in-place estimate for Georgia complex

(ShareCast News) - Oil and gas exploration and production company Frontera Resources upgraded its estimate for the gas in place at its South Kakheti Gas Complex in Georgia. Frontera said that since its announcement in October, it has carried out extensive geologic and geophysical studies and it has

Read more
23 Dec 2015 08:14

Frontera Resources Upgrades Gas-In-Place Estimate For South Kakheti

Read more
8 Oct 2015 07:15

Frontera Increases Internal Gas Resource Estimate In Georgia Ten-Fold

Read more
29 Sep 2015 12:05

Frontera Eyeing Ten-Fold Potential Increase In Gas Reserves In Georgia

Read more
17 Jul 2015 09:37

Ukraine has 12.5 bcm of gas in reserves, considers LNG

KIEV, July 17 (Reuters) - Ukraine has collected 12.5 billion cubic metres (bcm) of gas in underground storage as of July 17, still short of the 18-19 bcm it aims to have in reserve before mid-October, the country's gas transport monopoly said on Friday. Ukraine is pumping about 32 million c

Read more
15 Jul 2015 08:05

Frontera Resources Signs Agreement With Ukraine's Naftogaz

Read more

Make Better Investment Decisions

Register for FREE

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.