RE:not sure .....Your post makes no sense Frank.
By your logic then, if Kawa-1 comes in unsuccessful, should Frontera's share price then plummet a couple dollars back down to $4-5/share given that CGX will fall in share price as well? Of course not... unlike CGX, Frontera does not have everything riding on Kawa-1. They still have current operations.
As for Frontera share price today vs 2017 and why its so low... $30 in 2017 was when they had ~55M shares outstanding. Today they have ~100M shares outstanding. In 2017, they had close to double the production they have today. Most of the shut-in oil today is of heavy quality, and will probably never be brought back online again (reservoir engineering reality, not to mention economic). Frontera also has more long-term debt today, lower 2P reserves vs 2017, etc. Frontera might be undervalued a little bit, but not too much. They aren't that great of a company when the numbers are looked at more closely.