13 Apr 2016 08:28
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Don't have an account? Click here to register.Lower oil prices sees Frontera losses widen
Fri, 30th Sep 2016 14:46
(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 from $3.15m year-on-year.Its ongoing exploration efforts resulted in a net loss of $10.9m - widening from $7.16m - or $0.003 per share on a fully diluted basis.Of that total, approximately $1.1m was reflected in one-time charges associated with recorded impairment and inventory related accounting due to significant decrease of crude oil prices, the board explained."Frontera's exploration investments since the beginning of this year continue to demonstrate our commitment to the methodical technical progress that our work has achieved to date," said chief executive Steve Nicandros."Because of the significant oil and gas resources that our historical investments have identified, our focused efforts to evolve stimulation completion designs are now yielding results that have never before been achieved."As we continue our planned work programs through the remainder of this year, we strongly believe that our operations are reaching new milestones that will result in bringing the giant oil and gas resources associated with Block 12 into increased, sustainable production levels."At 1451 BST, shares in Frontera Resources were down 2.22% at 0.09p.
More News
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 more25 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 more9 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 more23 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 more17 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 more15 Jul 2015 08:05