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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

Post by kcac1on Oct 18, 2024 9:55am
142 Views
Post# 36271424

Is my math correct?

Is my math correct?About 92% of all shares tendered?  And they are going to buy about 4.35% of your tendered shares?.

So, someone with 10,000 tendered shares with a basis of $8.00C ($80,000 worth) will have about 435 shares repurchashed at $12C making $4 profit on 435 shares or $1740, equivalent to a dividend of just over 2%. Then for many, if not all, they withhold taxes from you $$?

So, how did they come up with this 6.6% yield in the initial press release?

"CALGARY, AB, Sept. 4, 2024

Offer Results in a CAD$0.48 Per Share Distribution or 6.6% Yield (to Frontera's Share Price Prior the Offer's Announcement) Assuming Full and Pro-Rata Shareholder Participation"


"Approximately 77,565,602 Shares were validly tendered and not withdrawn. Since the Offer was oversubscribed, the tendered Shares will be purchased on a pro rata basis following the determination of the final results of the Offer. Frontera currently expects that shareholders who tendered will have approximately 4.35% of their tendered Shares purchased by the Company." 

Only de Alba and team could come up with such a complex and costly way of distributing so little money to the average stakeholder. 
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