Frontera Energy Corp T.FEC

What you won't read in WSJ

[fishfanactic]

I previously commented that the Minister of Mines Irene Veldez is meeting with Colombian Treasury Secretary Ocompo  along with reps from Eco Petro the 85 percent state owned oil company. The purpose is to sort out the current reserve status of oil reserves. There is disagreement as to the current reserves with current administration claiming 12 years and previous administration claiming 7 years. The current 183 exploration licenses are in full force and honered by Govt. 747,000 barrels produced in Colombia of which Fec produces 41k to 43 K with the intent of producing 50k. 

GLTo All

[Kelvin]

Fishfanatic, You, no doubt read Spanish. I read El Tiempo newspaper quite regularly. The below story is more nuanced and seems to suggest growing opposition to Petro government position to not allow new licenses to oil companies for the reasons that you had mentioned ie money delivered to gov coffers will decrease or at least not grow enough to pay for all of Petro's promises. We'll see

[fishfanactic]

Buenos dias Kelvin. Yes there is opposition within the Petro administration namely Treasury Ocompo. A link below will tie into my previous comments..Gracias Amigo  https://www-infobae-com.cdn.ampproject.org/v/s/www.infobae.com/colombia/2023/01/25/irene-velez-fue-citada-por-jose-antonio-ocampo-para-analizar-cifras-sobre-las-reservas-de-gas-y-petroleo/?amp_gsa=1&amp_js_v=a9&outputType

[Kelvin]

Thanks fishfanatic, Yeah they're warning that Bogota may soon see rolling blackouts. 70% of Bogota's power comes from hydroelectric dams, which are running dry. 30% comes from fossil fuels. They've been importing LNG to offset the electricity not coming from hydroelectric. I can just see Bogota with rolling blackouts. Talk about protests! Residents would wonder why more thermal