Member Info for ART123

Must have been a very poor presentation. Maybe they shouldn't have bothered and the SP might still be around 1p.

There have been some crazy shareprice predictions here as well which seem to be far from reality.

This company is now officially f*cked. I doubt they'll last a month with no access to fresh funding and all will be lost. Seen this happen too many times before and the result is always the same.

I'm not a holder here.

The 2.5 million that's just gone through is a sell as they have upped the bid price now. Silly to sell at this price

I've averaged down. Not much else I could do really. My average was 0.60p and now its about 0.275p.

At least MXO have a producing asset with plenty of talk of increasing production big time.

This was around 0.35p before funding talk with 1771M shares in issue which gave a m/cap of £6.2M. Now with 2771M shares in issue that is equivalent to 0.22p so this is way undervalued at 0.10/0.11p. Go back to March this year and the SP was about 0.60p which with the new shares is equivalent to about 0.38p so yes to buy at 0.11p is a pretty good time I would say. But then the company could do with some better management, particularly the CEO, and far more newsflow.

All buys on AIM so far today - about 45 million - except for 4 sells at 0.1002/4/6/8 for just over 2.5 million.

Spud on 8th October. 64 days to TD. Intersecting first reservoir target, R1/R2, in 25 days - roughly 2cnd November and still 2 weeks away - so not sure what could be leaked.

David Sefton, Executive Chairman of AAOG, said, "We are grateful to shareholders for their support during this period and look forward to completing the well prior to the end of the year."

So did YA attempt to convert their Loan Notes to shares for August (and September) because they had not been paid the cash which was supposed to be being paid instead of the shares?

Sorry 7.5 Billion shares. I don't want to be accused of scaremongering!!!!!!!!!!

FRR can always issue more shares and pay off the Loan Notes early. That's only about another 7,500 Billion shares at 0.035p. What's another 50% more shares in issue.

Outrider own Loan Notes to the tune of $30 Million which are due to be repaid by FRR (or rolled over) in 2020. They hardly owe FRR anything and are not likely to have to settle anything out of court. Don't be so stupid.

"The Company intends to continue to vigorously assert its rights and will provide further updates as they become available."

Also the market should be informed of exactly what Outrider have done or intend to do regarding enforcing their security on the Loan Notes. Without that this is all just waffle.

"Further, the Action states that the Company and Frontera International Corporation claim that Outrider Master Fund, L.P. has no entitlement to take any steps to enforce against security underlying the Notes ."

RNS doesn't say what security Outrider has on the Loan Notes. The earlier Notes were unsecured but when they were rolled over in 2016 they were then announced as secured but against what?

Some very silly blind optimism posts here today. Punters should be more careful and not get carried away with the prospect of greedy profit which seldom turns up - especially with FRR.

AJMO

Super majors or majors - according to today's RNS they are just "industry majors"

Just my opinion.

Nothing is ever right about this company.

They have reputedly spent hundreds of millions of dollars so far on these prospects (with some of that still in the form of debt), they have come up with the most fantastic resource estimations (which even the Georgian Govt dispute as being grossly exaggerated), they have somehow managed to get to a staggering 15,750 million shares in issue and yet still only produce a few hundred boepd - which is what the latest figures of $1.8M revenue for 6 months equates to.

And always jam tomorrow - and lots of it.

Commercial oil could be as low as 100bopd. I suspect that the flow rates for the new wells are very low and that is why they have never been announced. And now they are covered up by "talk" of majors looking at the prospects of a farm-in or a joint operating agreement.

Like everything with this company - it all sounds good on paper but they never deliver on anything - except more shares!!!!!

Before the 6 months figures came out at the end of September people were posting that they should be really good as they would reflect all the extra revenue from the newly drilled wells and yet the figures were appalling. If there really was any extra revenue from the latest series of drills then that revenue would have shown in the figures. It all looks like a big sham to me. No flow rates because they are just not very good.

"Highlights

- Revenues from crude oil and gas sales totaled $1.8 million.

- Net loss of $7.0 million, or $0.0005 per share on a fully diluted basis."

You just have to worry about what is really going on with this company. They have been in Georgia for more than 10 years (and maybe a lot longer), have spent apparently hundreds of millions on their prospects and have assets that runs into the billions of barrels and multiple Tcf's of gas and yet have 10's of millions of dollars of debt and over 15 billion shares in issue (yes that's 15,000,000,000) and then in the last interim report have revenus of $1,832,407 - and that is against costs of $5,962,133 for the 6 months. Those are the figures of a hugely unprofitable company that in the real world shouldn't even still be in business.

I have worried about this lot for years and only occasionally held shares here and then only because they were usually under water and despite buying 5,000,000 when the interest from the majors was announced in September I have now sold out and will watch this unfold without any risk or worry.

This could well turn out to be another Bahamas with both majors walking away. Maybe the flow rates are really so bad the management are too embarrassed to announce them and have tried to prop up the shareprice with all this talk of interest from majors.

All just my opinion.

"This restructuring has been effected by exchanging the Old Notes which had maturity date of 1 August 2016, to new notes ("New Notes") which have maturity date of 1 August 2020."

"The New Notes, which are not convertible into ordinary shares of the Company, are secured and, in aggregate, have a face value of $30,063,276"

https://www.investegate.co.uk/frontera-resources/rns/restructuring-of-company-debt/201612290700059026S/

If TE-9 is a flop like TE-8 then the shareprice will be back to sub 10p (and even that is still over £100M m/cap).

I think this is quite a likely result too.

What have they got so far - about 300 - 500 bcf's or thereabouts - plus about 32Tcf's in JP's rampant dreamland.