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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
Comment by Oregonduckon May 08, 2017 6:58pm
98 Views
Post# 26218522

RE:Actos corruptos eran un hábito en los directivos de pacific

RE:Actos corruptos eran un hábito en los directivos de pacific
That is an excellent indictment of Pacific E & P bankruptcy protection set-up...However, it is like too late to close the barn door after the horse had bolted. Colombian Superintendent should have contested the CCAA proceedings from the get-go invoking the Law of Comity since all operations are grounded in that country despite the fact that the Company is domiciled in Canada, its Corporate Office is just a "mail drop". It is now impossible to unwind the process since Columbia and SEC had both consented to the Ontario Court in handling the CCAA proceedings...Some other points noted: Even though the Company had over USD$350 million to pay for the $50 million in interest payments due on the bonds, the Company was facing default on its debts because of the over US$5 billion in bonds that would have become "all due" as a result of the impairment. The Company couldn't have been able to "cure" the default by paying the interest...I agree that the final result stinks to high heaven for shareholders. The Columbian people said they don't want to force the Company into liquidation because of the jobs entailed, but seek dome redress...As the case law in Canada is clear, bad management without fraud is not actionable. Would anyone want to make $5 million by blowing the whistle & coming forward with tips of fraudulent conduct under the Ontario Whistleblowing Program?
Bullboard Posts