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Frontera Energy Corp T.FEC

Alternate Symbol(s):  FECCF

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

Bullboard Posts
Post by Oregonduckon Nov 04, 2016 1:38am
252 Views
Post# 25423407

Annus Horribilis

Annus HorribilisThis has ended up an "anus" year for all former PRE shareholders...Shareholders - those holding more than 100,000 shares - got less-than-token 0.0001% of the "new" restructured PEN, or a total of 3,000 shares after the 100,000-for-1 rollback of their 300 million shares (read the News Release)...Other smaller shareholders got zilch. The Company was not-too-long ago valued at around $2 billion ($6.5 takeover price), and written down to $150 million ($0.05) after bankruptcy filing, but in exiting CCAA bankruptcy protection, it is re-valued today at $2.5 billion. The Toronto Stock Exchange (TSX) has a minimum listing requirement of 1 million free trading stock and at least 300 shareholders holding one share lot (100 shares). Obviously, the New Company has less than 300 shareholders and should not have been re-listed by TSX. To comply, the Company may have to issue more shares in a private placement to broaden the base. The Management will be granted options to acquire 10% of the Company worth $250 million in today's prices...Most shareholders have lost their shirts. I can bet there will never be a Class Action lawsuit. No lawyers will spend millions of their own money to front a lawsuit based on alleged misrepresentation without proof of fraud.. It is really over.
Bullboard Posts