Delay in Prospective Resource UpdateHas anyone been able to access the FEC site on Seeking Alpha and read the Q1 Q and A since I cannot paste it?
Frontera Energy Corporation (FECCF) Stock Price Today, Quote & News | Seeking Alpha One thing I read into it and Christine asked the question directly.
How long do you think it will be before we see a Prospective Resource Update?. I interpreted the answer to mean, it is going to take some time after complettion of the well. It is also mentioned by others in the conference call and even in the MD and A that they are doing a lot of post well testing and even that advanced post well testing was added to the increased cost of the well.
With FEC releasing no operational news other than the required financial reports etc. since early Feb. and not even having a current presentation on their web site. It seems they are either in a news black out due to M and A activity, which is allowed or they don't give 2 chits what happens to day to day share price due to them in the process of selling the company. Isn't the big news we are waitng for the Prospective Resource? Assuming they successsfully complete the Wei-1 and release news of how much pay and what type of oil, gas and condensate they may have found goiing to move either stock that much? Maybe a lot of light oil pay will move CGX up a bit but doubt it does much for FEC Isn't the big news we all are waiting for, The Prospective Resource update for the concession? Will it be 50mm boe or 500mm boe? I can see it taking months after the Wei-1 is complete to release that number.
And if M and A negociations are ongoing, is there any reason to release that number prior to announcing an offer to buy the concession or the company? FEC appears to have no sense of urgency to release any positive news out side of required MD and A's and Qtr reports etc. CGX however, is in dire straits, they have no money, the port is not remotely close to being complete and they have no money to complete it and they are at least $20mm in debt and I see them being a pawn in this entire process if FEC is for sale. Obviously, a good well and a good prospective resource will bring in bidders for Frontera Guyana, so why release any prospective resource to anyone but to potential bidders for Frontera Guyana or FEC as a whole? I am almost positive that material news can be withheld during late stage M and A activity and they can always say they need to do more studies to be sure the prospective resource is accurate as possible before releasing anything.
MorningCat, if you or anyone else has a direct line to Christine, ask her if she is concerned about the prospective resource estimate update being delayed until a sale can be firmed up and announced as far as her CGX shares? If that news is not released, what is going to move CGX share price up big?
As far as Colombia Country risk being already baked into share price, agree...but it can always get worse as every day local news seems to add something new and negative about Colombia. I call these stocks, my Riverboat Gambling Portfolio due to the high risk and only own 4 stocks now, the rest of my investments are in far less risky EFT's and fixed income etc. But the 4 Venture stocks I own are all in high risk countries. FEC is my largest high risk holding and I still hold shares in CGX which I consider a higher risk. a 3rd holding is a fast growing gold producer in risky Nicaragua and the 4th also another Gold company in Nicaragua. Neither company takes much if any research and FEC/CGX is the most interesting arrangement I have seen in a long time. The Vulture Capitalist in complete control now of 5 saleable equities, all related. I am counting CGX which I think very unlikely it will be sold since they need it as a pawn in the chess match between de Alba and potential buyers.
If you want to look at something new, Look at Condor gold, my 2nd gold company that has also been in the process of selling itself since false sanction news hit in late Oct and share price dropped 50% and the company announced it was for sale. It has since recovered and is a turn key high grade pit gold project in Nicaragua with 3 high grade pit mines already fully approved and a mill bought and paid for and the project having an updated Feasibility Study showing a return on investment in less than a year. The Chair of the company is a Brit Billionaire who owns 20% and known as the Master Investor. I think he just tired of country risk seeing it drop so fast on false rumors of sanctions affecting the company. and seeing Ortega actively asking the Chinese to come on in, which they have. Condor has little or no debt and lots of concessions in Nicaragua and been there a long time. They have publicly announced they have have 3 non binding bids, 9 NDA'signed, one bidder is a large Chinese gold producer, my guess Zijin Mining. One active bidder sent a team and spent 8 days on site and Condor execs took the team to meet the Nicaraguan Minister of mining. They have had 2 other site visits. This is not a pump or plug to boost share price as I am holding until buyout news as I suck at timing my sales and love buyouts at a premium where the price is set for me.
Condor Gold has a very professional website with lots on information and presentations, unlike FEC. Do your own DD and if you decide to pick up some shares, buy on the AIM on the London exchange. There is no volume on the TSX and commissions for me were cheaper on the Aim. as I first bought some on the TSX and it took days to fill the order, on the AIM, my larger order filled while talking to my broker.
Home | Condor Gold I only mention something new as I see in the first hour of FEC trading,only 15k shares have changed hands. Someone said, like watching concrete harden. They have not traded more than 65K shares in day for almost 2 weeks now. So, boring and usless to watch share of FEC these days. It is the only stock I have to research and we have to talk about Colombia and other chit since FEC is gone far darker than normal and they have always sucked at pumping their own company.
| Close Prices Last 3 Months | Price/volumes not adjusted for restructures |
| 2023-05-23 | T | FEC | 10.35 | 10.56 | 10.31 | 10.50 | 0.16 | 43,662 | 328 | 10.37 | 10.57 | 31,852 | 900 | 4,829 | | 50 | 3,600 | 1,000 | | | 1,149 | | | |
| 2023-05-19 | T | FEC | 10.56 | 10.56 | 10.21 | 10.34 | -0.04 | 40,479 | 245 | 10.25 | 10.39 | 24,556 | 1,900 | 7,300 | 800 | 300 | 3,000 | 1,500 | | | 657 | | 100 | |
| 2023-05-18 | T | FEC | 10.26 | 10.40 | 10.11 | 10.38 | 0.07 | 64,713 | 433 | 10.27 | 10.41 | 47,183 | 2,700 | 7,600 | 400 | 722 | 2,500 | 1,600 | | | 1,616 | | | |
| 2023-05-17 | T | FEC | 10.12 | 10.31 | 10.00 | 10.31 | 0.23 | 61,254 | 453 | 10.20 | 10.35 | 47,729 | 1,400 | 3,074 | 2,200 | 167 | 3,500 | 1,052 | | | 1,723 | | | |
| 2023-05-16 | T | FEC | 10.18 | 10.22 | 10.03 | 10.08 | -0.04 | 50,284 | 343 | 10.00 | 10.12 | 38,921 | 900 | 3,800 | 3,200 | 78 | 1,800 | 200 | | | 1,115 | | | |
| 2023-05-15 | T | FEC | 10.20 | 10.23 | 10.05 | 10.12 | -0.07 | 53,706 | 397 | 10.06 | 10.16 | 46,194 | 1,000 | 1,200 | 1,500 | 201 | 2,550 | 200 | | | 378 | | | |
| 2023-05-12 | T | FEC | 10.23 | 10.47 | 10.11 | 10.19 | -0.03 | 53,080 | 369 | 10.15 | 10.31 | 33,843 | 1,900 | 8,448 | 1,100 | 696 | 1,300 | 1,300 | | | 3,297 | | |