Frontera Energy Corp T.FEC

Anyone explain how spending $30mmU$ on Buyback is 6.6% Yield

[kcac1]

"On August 6, 2024, the last full trading day prior to the date of announcement of the Company's intention to make the Offer, the closing price of the Shares on the TSX was CAD$7.25 per Share.

Assuming full and pro-rata shareholder participation, the Offer represents a CAD$0.48 per Share distribution equivalent to a 6.6% yield on the Company's stock price prior to the announcement of the Offer during the Company's second quarter 2024 results. Including all dividends declared this year, the year-to-date distribution total to shareholders would be CAD$0.67 per Share (equivalent to a 9.2% yield). The Board shall continue to consider future investor initiatives in 2024 and beyond, including potential additional dividends, share buybacks, distributions, bond buybacks or other initiatives, based on the overall results of the businesses, cash flow generation and the Company's strategic goals

[a2bman]

Why isnt anyone arbitraging this thing?  Something doesnt make any fricken sense.

[waitingstill]

Because this is pro rated you can only reliably arbitrage 4 percent of your holdings because the rest won't be accepted unless it is under subscribed whihc is a real possibilitu if CC and Gram bail out of their commitment. But if they bail it is because the price will be higher than $12. Tricky game this one!

[Frank007]

It is not a tricky game ...it is a con game ....the idea is to get you to sell into the ncib....they say they are bumping all of their shares ....I doubt it ....the ploy is to get you out now ...I am damn  sure they have the farm down and just want you and me out ...! ....

[kcac1]

Hey WS, Good to see you here. What is your take on why de Alba is doing this? At yesterday's close the market cap of FEC was about $679MM.C, at $12C a share the market cap would be about $1.1Bil.C. I personally think that both CC/Gram, tender their max number of shares. Thus, de Alba/CC would get 41% of the $30mm.U$. Maybe they need cash? But even more importantly, I think if they back out

[Kelvin]

Very little serious money like pension funds wants anything to do with emerging markets in general. What they're looking for is countries where there's very little regulatory risk and where there's more certsinty that the regulations won't change and will apply equally to all participants. Kevin O'Leary made a great comment on Fox when he said that America's greatest export

[Kelvin]

Further to my last. Who in their right minds would invest in a country, which only has 6.2 years of gas reserves left, and does this?: https://seekingalpha.com/news/4149763-petrobras-ecopetrol-ordered-to-halt-drilling-gas-well-offshore-colombia

[Kelvin]

Further to my last. Who in their right minds would invest in a country, which only has 6.2 years of gas reserves left, and does this?:@https://seekingalpha.com/news/4149763-petrobras-ecopetrol-ordered-to-halt-drilling-gas-well-offshore-colombia

[Kelvin]

Then there's this: https://oilprice.com/Energy/Crude-Oil/Guerilla-Attacks-on-Pipelines-Threaten-Colombias-Oil-Production.html

[Frank007]

I agree with you resent comments ...but the Puera Bahia operations has to be worth at least $20 per share ....a simiiar port operation here in Vancouver .....Roberts bank is 1/3 owned by Jim Patterson ...it has huge vale so I think $20 may be way to low and they are going to set up an ngl terminal at that port too.....lots of people watching this stock ....not many buyers ...sure is tightly

[Kelvin]

Well Frank the potential future value is defintely there, but when are they gonna be realized? Even you mentioned that current president Petro used to be a member of the leftist guerrilla group M19. I see all of these projects stalled out. What is this? A shake down the squeeze money out of oil companies? Or maybe I give them the benefit of the doubt and simply conclude that the people living

[Frank007]

You know Kevin....I am impressed with your knowledge of the activities here ....you must be a long time player ...

[Frank007]

Hee is a it of political theatre on the keystone pipeline ....not many know this ...but it was Obama who first killed it ...want to know why ...!?    It was because of Warren Buffets ...rail nine transporting the oil by rail ....he stood to loose 3 bilion $ a year ....that is politics for you ...lol

[Kelvin]

Yeah I was once a shareholder of CGX and FEC but sold 2 years ago. I watch the companies as well as NSE opersting in Venezuela. But I won't buy as long as these Trotsky style commies run things. Their MO is to decimate the private sector and make everybody dependant on the state for a few crumbs of rationed bread every day.  I had my hopes up when Duque was pres of Colombia and Bolsonaro

[a2bman]

So I bought some more on friday and im going to tender all of that.  Lets see if its over subscibed or not.  if it all gets taken it was an easy 50%,