Goldman-New Advisor retained for evaluating how to sellNot much to clap about here. This was the only thing that caught my eye. I just want this company sold, it appears likely in pieces, so as to just move on. They have plenty of cash and could have easily doubled the small dividend but...You would think a deal maker of the year would not need so many financial advisors, but he also appears to be involved in far too many projects to give any of them, much of his time. Nothing even mentioned earlier about de Alba opening his own Investment banking firm in Miami and making even more investments. I don't see where he would have time to do Jack Chit for any one of the named companies he controls, particularly a complex oil company where he has no expericence.
If they did anything to promote the company, the current share price might increase and be helpful in enhancing shareholder value. This is like an invisible company except once a quarter.
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Strategic Review Processes In May 2024, the Company launched a strategic alternatives review for its standalone and growing Colombian Infrastructure Business, which could result in a potential spin-off to Frontera shareholders, a total or partial sale or other business combination of Frontera's Colombian Infrastructure Business, and/or a strategic investment, therein by a third party. Frontera has retained Goldman Sachs & Co. LLC as financial advisor and may retain other advisors to assist the Board in evaluating the various strategic, business, and financial alternatives.
The Company, with support from Houlihan Lokey, continues to actively pursuing strategic alternatives for its interests in the Corentyne block in Guyana, including a possible farm down.
These processes are central to the Company's efforts to streamline the business and unlock the value from sum of its parts. Frontera believes the value of these assets is not reflected in the current stock price and these processes aim to drive value for shareholders. There can be no guarantee that these strategic review processes will result in a transaction.
Frontera's Three Core Businesses
Frontera's three core businesses include: (1) its Colombia and Ecuador Upstream Onshore business, (2) its standalone and growing Colombian Infrastructure business, and (3) its potentially transformational Guyana Exploration business offshore Guyana.