Frontera Energy Corp T.FEC

Alternate Symbol(s): FECCF

Energy Oil & Gas E&P

Frontera Energy Corporation is a Canada-based oil and gas company. The Company is involved in the exploration, development, production, transportation, storage, and sale of oil and natural gas in South America, including related investments in both upstream and midstream facilities. The Company has a diversified portfolio of assets with interests in 27 exploration and production blocks in Colombia, Ecuador, and Guyana, and pipeline and port facilities in Colombia. The Company’s segments include Colombia, Ecuador, Guyana, Midstream Colombia, and Canada & Others. Colombia includes all upstream business activities of exploration and production in Colombia. Ecuador includes all upstream business activities of exploration and production in Ecuador. Guyana includes exploration and infrastructure. Midstream Colombia includes the Company’s investments in pipelines, storage, port, and other facilities relating to the distribution and exportation of crude oil products in Colombia.

TSX:FEC - Post by User

Frontera Energy Corp

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Post by realrateon Feb 20, 2015 10:29am

146 Views

Post# 23447814

RBC Upgrade

RBC upgrade

February 18, 2015

Pacific Rubiales Energy Stepping off the roller coaster

Our view: Justifiably, in our view, Pacific Rubiales' share price has suffered more than most in the last six months. After reaching six year lows the stock is at a level where, proportionately, the downside looks more limited and share price movements less predictable. We anticipate this volatility to continue and are upgrading to Sector Perform increasing our price target to C$5/share.

Key points:

As oil prices declined our coverage universe rerated. Pacific Rubiales' fall was accelerated by stock specific issues: 1) Slower progress on key developments; 2) Evaporation of bid speculation from Alfa; and 3) Rising debt pile. Big changes are needed to address our concerns but we believe, as a heavily shorted stock, it will continue to react disproportionately to even modest oil price increases. In comparison to when we downgraded to Underperform we see more limited downside and are changing our rating to Sector Perform moving our price target to C$5/share.

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