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Frontera Resources agrees payment plan with Yorkville Advisors

Fri, 19th Oct 2018 10:50

(Sharecast News) - Frontera Resources and investment company Yorkville Advisors agreed to resolve their differences as the pair retracted and released each other from their mutual claims.The AIM-listed outfit, which raised "serious concerns" over the Cayman Islands-based fund's calculations, on Friday announced a restructuring of its outstanding Series A shares redemption schedule that will see all 2,650 remaining shares redeemed on a monthly basis commencing 1 November.Yorkville's YA II PN fund had raised objections after Frontera moved to making monthly cash redemption payments to redeem YA's $2.89m of convertible shares held as part of a previous loan provided to oil explorer.Frontera has now agreed to make cash redemption payments to YA of $64,900 a month until 1 April 2019 before upping the payments to $149,600 per month until 1 July 2019. Frontera will then make a lump sum redemption payment of $2.14m on 1 July 2019 in order to redeem all the outstanding shares.Chief executive Zaza Mamulaishvili, said: "As a result of this settlement, the inconvenient overhang of monthly conversion has been removed, which should positively reflect on the company's share price and market position going forward.""The company is moving on with paying down the remaining balance to YA by way of cash redemption and without recourse to the conversions, as was the case in the past."As of 1045 BST, Frontera shares had shot up 10.33% to 0.42p.
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12 Mar 2018 13:44

Frontera Resources To Move To Dino-2 Well After T-45 Completion

LONDON (Alliance News) - Frontera Resources Corp said Monday drilling has been completed on the first of three wells on the Taribani complex in announced in late February, the

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13 Feb 2017 13:05

Frontera Resources knows no reason for share price move

(ShareCast News) - AIM-listed oil and gas exploration and production group Frontera Resources noted the recent movement in its share price and confirmed that it knows no reason for the move. As announced on 19 January, the company said there is no change to the expected delivery date of March 2017 f

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13 Feb 2017 12:59

Frontera Resources Knows Of No Reason For Share Price Rise

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19 Jan 2017 09:21

Frontera Resources' Georgia Program Delayed Pending Equipment Delivery

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19 Jan 2017 08:46

Frontera Resources predicts greater output despite delay

(ShareCast News) - Frontera Resources Corporation, an AIM listed independent oil and gas exploration and production company, has found greater potential for oil and gas recovery at the Taribani Field area despite production delays. In the last two months operations to complete a new six well stimula

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29 Dec 2016 07:59

Frontera Resources Restructures Disputed Subsidiary Loan Notes

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16 Nov 2016 10:40

Frontera Wins Bid For Hydrocarbon Exploration In Republic Of Moldova

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16 Nov 2016 08:19

Frontera Resources wins bid to explore hydrocarbons in Moldova

(ShareCast News) - Oil and gas miner Frontera Resources Corporation has won the bid to explore and produce hydrocarbons in the Republic of Moldova. The AIM-listed company and the Moldovan government are set to negotiate on hydrocarbon exploration and development in the country and agree suitable ter

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24 Oct 2016 10:29

Frontera Resources begins stimulation in Georgia

(ShareCast News) - Independent oil and gas exploration and production company Frontera Resources Corporation released an update to its operations in Georgia on Monday. The AIM-traded firm had previously announced on 30 September that work is underway to begin the stimulation campaign for six further

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24 Oct 2016 08:18

Frontera Upcoming Georgia Campaign To Support Target Production Rates

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30 Sep 2016 14:46

Lower oil prices sees Frontera losses widen

(ShareCast News) - Independent oil and gas exploration and production company Frontera Resources released its financial results for the first half of 2016 on Friday. The AIM-traded firm said revenues from exploration pilot oil and gas production sales totaled $2m in the six months to 30 June, down f

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30 Jun 2016 10:34

Frontera Resources Loss Widens As Investments In Georgia Delayed

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15 Jun 2016 07:53

Frontera Resources Draws Down Funds For Work Programmes (ALLISS)

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16 May 2016 09:48

Frontera Searches For Funds As It Pays For Services With Equity (ALLISS)

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25 Apr 2016 08:43

Frontera Resources Says South Kakheti Work Progressing

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