New Risk • Jun 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 57% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (14% average weekly change). Buy Or Sell Opportunity • Jun 24
Now 57% undervalued after recent price drop Over the last 90 days, the stock has fallen 37% to CA$8.47. The fair value is estimated to be CA$19.72, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.9% over the last 3 years. Meanwhile, the company became loss making. Upcoming Dividend • Jun 18
Upcoming dividend of CA$8.34 per share Eligible shareholders must have bought the stock before 24 June 2026. Payment date: 23 June 2026. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.6%. Lower than top quartile of Canadian dividend payers (5.4%). Lower than average of industry peers (3.5%). Declared Dividend • Jun 04
Dividend of CA$8.34 announced Shareholders will receive a dividend of CA$8.34. Ex-date: 24th June 2026 Payment date: 23rd June 2026 Dividend yield will be 52%, which is higher than the industry average of 5.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (9% cash payout ratio). The dividend has decreased over the past 76 years, indicating a lack of growth and stability in payments. Announcement • Jun 01
Frontera Energy Corporation Announces Return of Capital Distribution, Payable on June 23, 2026 Frontera Energy Corporation (Company) announced the successful completion of the previously announced plan of arrangement pursuant to which Parex Resources Inc. (Parex) through its wholly-owned subsidiary Parex AcquisitionCo Inc. has acquired 100% of Frontera International Holdings B.V., which holds all of Frontera's Colombian exploration and production assets, its reverse osmosis water treatment facility and its palm oil plantation (E&P Assets) for aggregate consideration of $750 million (Transaction). In connection with the closing of the Transaction, Frontera announced a return of capital distribution, including in respect of Frontera´s RSUs and Frontera´s DSUs, (Return of capital) to holders of common shares in the capital of Frontera ("Common Shares") as follows: Distribution amount: CAD 8.34 per common share (approximately CAD 430 million in aggregate). Record date: June 12, 2026. Payment date: June 23, 2026. The Return of Capital will be paid to holders of record of Common Shares as of the close of business on the Record Date. Buy Or Sell Opportunity • May 25
Now 22% undervalued Over the last 90 days, the stock has risen 19% to CA$14.00. The fair value is estimated to be CA$18.06, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.6% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • May 18
First quarter 2026 earnings released: EPS: US$0.19 (vs US$0.35 in 1Q 2025) First quarter 2026 results: EPS: US$0.19 (down from US$0.35 in 1Q 2025). Revenue: US$26.8m (down 90% from 1Q 2025). Net income: US$13.1m (down 53% from 1Q 2025). Profit margin: 49% (up from 10.0% in 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 141 percentage points per year, which is a significant difference in performance. Announcement • Apr 03
Frontera Energy Corporation, Annual General Meeting, Apr 30, 2026 Frontera Energy Corporation, Annual General Meeting, Apr 30, 2026. Recent Insider Transactions Derivative • Mar 25
CEO & Director exercised options to buy CA$709k worth of stock. On the 18th of March, Orlando Cabrales Segovia exercised options to buy 53k shares at a strike price of around CA$13.37, costing a total of CA$704k. This transaction amounted to 67% of their direct individual holding at the time of the trade. Since June 2025, Orlando's direct individual holding has increased from 37.56k shares to 130.79k. Company insiders have collectively bought CA$3.4m more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Mar 18
Full year 2025 earnings released: US$13.77 loss per share (vs US$0.29 loss in FY 2024) Full year 2025 results: US$13.77 loss per share (further deteriorated from US$0.29 loss in FY 2024). Revenue: US$998.7m (down 10% from FY 2024). Net loss: US$1.02b (loss widened US$996.2m from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 127 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Dec 29
Upcoming dividend of CA$0.063 per share Eligible shareholders must have bought the stock before 05 January 2026. Payment date: 19 January 2026. The company is not currently making a profit but it is cash flow positive. Trailing yield: 4.0%. Lower than top quartile of Canadian dividend payers (5.9%). In line with average of industry peers (4.4%). Declared Dividend • Nov 17
Third quarter dividend of CA$0.063 announced Shareholders will receive a dividend of CA$0.063. Ex-date: 5th January 2026 Payment date: 19th January 2026 Dividend yield will be 4.3%, which is lower than the industry average of 5.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (10% cash payout ratio). The dividend has decreased over the past 76 years, indicating a lack of growth and stability in payments. Reported Earnings • Nov 16
Third quarter 2025 earnings released: EPS: US$0.40 (vs US$0.20 in 3Q 2024) Third quarter 2025 results: EPS: US$0.40 (up from US$0.20 in 3Q 2024). Revenue: US$257.3m (down 4.4% from 3Q 2024). Net income: US$28.2m (up 67% from 3Q 2024). Profit margin: 11% (up from 6.3% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance. Announcement • Nov 14
Frontera Energy Corporation Declares Quarterly Dividend, Payable on or Around January 19, 2026 Frontera Energy Corporation's Board of Directors declared a dividend of CAD 0.0625 per common share to be paid on or around January 19, 2026, to shareholders of record at the close of business on January 5, 2026. Announcement • Oct 31
Frontera Energy Corporation to Report Q3, 2025 Results on Nov 13, 2025 Frontera Energy Corporation announced that they will report Q3, 2025 results at 4:00 PM, US Eastern Standard Time on Nov 13, 2025 Upcoming Dividend • Sep 25
Upcoming dividend of CA$0.063 per share Eligible shareholders must have bought the stock before 02 October 2025. Payment date: 16 October 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 4.3%. Lower than top quartile of Canadian dividend payers (5.8%). In line with average of industry peers (4.2%). Declared Dividend • Aug 17
Second quarter dividend of CA$0.063 announced Shareholders will receive a dividend of CA$0.063. Ex-date: 2nd October 2025 Payment date: 16th October 2025 Dividend yield will be 4.2%, which is lower than the industry average of 5.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (11% cash payout ratio). The dividend has decreased over the past 66 years, indicating a lack of growth and stability in payments. Reported Earnings • Aug 14
Second quarter 2025 earnings released: US$5.89 loss per share (vs US$0.034 loss in 2Q 2024) Second quarter 2025 results: US$5.89 loss per share (further deteriorated from US$0.034 loss in 2Q 2024). Revenue: US$239.9m (down 14% from 2Q 2024). Net loss: US$455.2m (loss widened US$452.4m from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. Announcement • Jul 25
Frontera Energy Corporation to Report Q2, 2025 Results on Aug 13, 2025 Frontera Energy Corporation announced that they will report Q2, 2025 results After-Market on Aug 13, 2025 Recent Insider Transactions Derivative • Jul 08
CEO & Director exercised options to buy CA$341k worth of stock. On the 1st of July, Orlando Cabrales Segovia exercised options to buy 50k shares at a strike price of around CA$6.53, costing a total of CA$325k. This transaction amounted to 133% of their direct individual holding at the time of the trade. Since September 2024, Orlando's direct individual holding has decreased from 41.00k shares to 37.56k. Company insiders have collectively bought CA$1.1m more than they sold, via options and on-market transactions, in the last 12 months. Upcoming Dividend • Jun 26
Upcoming dividend of CA$0.063 per share Eligible shareholders must have bought the stock before 03 July 2025. Payment date: 17 July 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.8%. Lower than top quartile of Canadian dividend payers (6.2%). Lower than average of industry peers (4.8%). Valuation Update With 7 Day Price Move • May 23
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CA$5.74, the stock trades at a trailing P/E ratio of 27.2x. Average trailing P/E is 11x in the Oil and Gas industry in Canada. Total loss to shareholders of 57% over the past three years. Announcement • May 22
Frontera Energy Corporation (TSX:FEC) announces an Equity Buyback for 7,583,333 shares, representing 9.81% for CAD 91 million. Frontera Energy Corporation (TSX:FEC) announces a share repurchase program. Under the substantial course issuer bid, the company will repurchase up to 7,583,333 shares for CAD 91 million ($65 million) worth of its shares. The shares will be repurchased at a price of CAD 12 per share. The offer will be funded using the available cash on hand. The repurchased shares will be cancelled. If the aggregate amount of shares validly tendered is greater than the amount available for repurchase the company will purchase the shares on a pro rata basis after giving effect to odd lot tenders (shares tendered by shareholders beneficially owning fewer than 100 shares), which will not be subject to pro-ration. The offer will expire on July 4, 2025, unless extended, varied, or withdrawn by the company. As of May 20, 2025, the company had 77,295,478 issued and outstanding shares. Declared Dividend • May 12
First quarter dividend of CA$0.063 announced Shareholders will receive a dividend of CA$0.063. Ex-date: 3rd July 2025 Payment date: 17th July 2025 Dividend yield will be 4.9%, which is lower than the industry average of 5.4%. Sustainability & Growth Dividend is not covered by earnings (120% earnings payout ratio). However, it is well covered by cash flows (7% cash payout ratio). The dividend has decreased over the past 66 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 34% to bring the payout ratio under control, which is more than the 27% EPS growth achieved over the last 5 years. Reported Earnings • May 10
First quarter 2025 earnings released: EPS: US$0.35 (vs US$0.10 loss in 1Q 2024) First quarter 2025 results: EPS: US$0.35 (up from US$0.10 loss in 1Q 2024). Revenue: US$275.1m (up 3.7% from 1Q 2024). Net income: US$27.5m (up US$36.0m from 1Q 2024). Profit margin: 10.0% (up from net loss in 1Q 2024). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 53 percentage points per year, which is a significant difference in performance. Announcement • May 09
Frontera Energy Corporation Declares Quarterly Dividend, Payable on or Around July 17, 2025 Frontera Energy Corporation declared a dividend of CAD 0.0625 per common share to be paid on or around July 17, 2025, to shareholders of record at the close of business on July 3, 2025. Announcement • Apr 25
Frontera Energy Corporation to Report Q1, 2025 Results on May 08, 2025 Frontera Energy Corporation announced that they will report Q1, 2025 results After-Market on May 08, 2025 Upcoming Dividend • Mar 27
Upcoming dividend of CA$0.063 per share Eligible shareholders must have bought the stock before 02 April 2025. Payment date: 16 April 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 3.6%. Lower than top quartile of Canadian dividend payers (6.3%). Lower than average of industry peers (4.7%). Announcement • Mar 19
Frontera Energy Corporation, Annual General Meeting, May 22, 2025 Frontera Energy Corporation, Annual General Meeting, May 22, 2025. Declared Dividend • Mar 12
Fourth quarter dividend of CA$0.063 announced Shareholders will receive a dividend of CA$0.063. Ex-date: 2nd April 2025 Payment date: 16th April 2025 Dividend yield will be 3.7%, which is lower than the industry average of 5.4%. Sustainability & Growth Dividend is well covered by both earnings (12% earnings payout ratio) and cash flows (8% cash payout ratio). The dividend has decreased over the past 66 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 26% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 11
Full year 2024 earnings released: US$0.29 loss per share (vs US$2.27 profit in FY 2023) Full year 2024 results: US$0.29 loss per share (down from US$2.27 profit in FY 2023). Revenue: US$1.11b (down 3.0% from FY 2023). Net loss: US$24.2m (down 113% from profit in FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 49 percentage points per year, which is a significant difference in performance. Announcement • Mar 10
Frontera Energy Corporation Declares Dividend, Payable on April 16, 2025 Frontera Energy Corporation declared a dividend of CAD 0.0625 per common share to be paid on or around April 16, 2025, to shareholders of record at the close of business on April 2, 2025. This dividend payment to shareholders is designated as an "eligible dividend" for purposes of the Income Tax Act (Canada). This dividend is eligible for the Company's Dividend Reinvestment Plan which provides shareholders of Frontera who are resident in Canada with the option to have the cash dividends declared on their common shares reinvested automatically back into additional common shares, without the payment of brokerage commissions or services charges. Announcement • Feb 21
Frontera Energy Corporation to Report Q4, 2024 Results on Mar 10, 2025 Frontera Energy Corporation announced that they will report Q4, 2024 results Pre-Market on Mar 10, 2025 Valuation Update With 7 Day Price Move • Jan 02
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CA$9.16, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 11x in the Oil and Gas industry in Canada. Total loss to shareholders of 4.3% over the past three years. Upcoming Dividend • Dec 27
Upcoming dividend of CA$0.063 per share Eligible shareholders must have bought the stock before 03 January 2025. Payment date: 17 January 2025. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Canadian dividend payers (6.4%). Lower than average of industry peers (4.7%). Announcement • Dec 16
Frontera Energy Corporation (TSX:FEC) announces an Equity Buyback for 3,500,000 shares, representing 4.33% for CAD 42 million. Frontera Energy Corporation (TSX:FEC) announces a share repurchase program. Under the substantial course issuer bid, the company will repurchase up to 3,500,000 shares for CAD 42 million ($30 million) worth of its shares. The shares will be repurchased at a price of CAD 12 per share. The offer will be funded using the available cash on hand. The repurchased shares will be cancelled. If the aggregate amount of shares validly tendered is greater than the amount available for repurchase the company will purchase the shares on a pro rata basis after giving effect to odd lot tenders (shares tendered by shareholders beneficially owning fewer than 100 shares), which will not be subject to pro-ration. The offer will expire on January 24, 2025, unless extended, varied or withdrawn by the company. As at December 11, 2024, the company had 80,793,387 issued and outstanding shares. Reported Earnings • Nov 08
Third quarter 2024 earnings released: EPS: US$0.20 (vs US$0.38 in 3Q 2023) Third quarter 2024 results: EPS: US$0.20 (down from US$0.38 in 3Q 2023). Revenue: US$278.5m (down 9.8% from 3Q 2023). Net income: US$16.6m (down 49% from 3Q 2023). Profit margin: 6.0% (down from 11% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Oct 25
Frontera Energy Corporation to Report Q3, 2024 Results on Nov 06, 2024 Frontera Energy Corporation announced that they will report Q3, 2024 results After-Market on Nov 06, 2024 Upcoming Dividend • Sep 25
Upcoming dividend of CA$0.063 per share Eligible shareholders must have bought the stock before 02 October 2024. Payment date: 16 October 2024. Payout ratio is a comfortable 6.9% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Canadian dividend payers (5.9%). Lower than average of industry peers (4.7%). Announcement • Sep 05
Frontera Energy Corporation (TSX:FEC) announces an Equity Buyback for 3,375,000 shares, representing 4.01% for CAD 40.5 million. Frontera Energy Corporation (TSX:FEC) announces a share repurchase program. Under the program, the company will repurchase up to 3,375,000 shares, representing 4% of its share capital for CAD 40.5 million. The shares will be repurchased at a purchase price of CAD 12 per share. The company plans to fund the Share repurchases through available cash on hand. As part of its efforts to maximize value for shareholders, the company has identified the Offer as an attractive and efficient means to return capital to shareholders. The shares repurchased will be cancelled. If more than 3,375,000 Shares are tendered for purchase, the company will purchase the shares on a pro rata basis after giving effect to “odd lot” tenders. The offer will expire on October 17, 2024, unless extended, varied, or withdrawn by the Company. As of September 3, 2024, the company had 84,188,756 issued and outstanding Shares. Reported Earnings • Aug 09
Second quarter 2024 earnings released: US$0.03 loss per share (vs US$0.94 profit in 2Q 2023) Second quarter 2024 results: US$0.03 loss per share (down from US$0.94 profit in 2Q 2023). Revenue: US$279.5m (down 3.6% from 2Q 2023). Net loss: US$2.85m (down 103% from profit in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • Aug 08
Frontera Energy Corporation Declares Dividend on Common Share, Payable on or Around October 16, 2024 Frontera Energy Corporation announced that its Board of Directors has declared a dividend of CAD 0.0625 per Common Share to be paid on or around October 16, 2024, to shareholders of record at the close of business on October 2, 2024. Announcement • Jul 31
Frontera Energy Corporation to Report Q2, 2024 Results on Aug 07, 2024 Frontera Energy Corporation announced that they will report Q2, 2024 results After-Market on Aug 07, 2024 Upcoming Dividend • Jun 26
Upcoming dividend of CA$0.063 per share Eligible shareholders must have bought the stock before 03 July 2024. Payment date: 17 July 2024. Trailing yield: 3.0%. Lower than top quartile of Canadian dividend payers (6.5%). Lower than average of industry peers (4.9%). Reported Earnings • May 09
First quarter 2024 earnings released: US$0.10 loss per share (vs US$0.13 loss in 1Q 2023) First quarter 2024 results: US$0.10 loss per share (improved from US$0.13 loss in 1Q 2023). Revenue: US$265.2m (up 5.9% from 1Q 2023). Net loss: US$8.50m (loss narrowed 25% from 1Q 2023). Revenue is forecast to grow 3.5% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Oil and Gas industry in Canada. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 01
Frontera Energy Corporation to Report Q1, 2024 Results on May 08, 2024 Frontera Energy Corporation announced that they will report Q1, 2024 results After-Market on May 08, 2024 Buy Or Sell Opportunity • Mar 28
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 3.8% to CA$8.27. The fair value is estimated to be CA$6.88, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Meanwhile, the company has become profitable. Upcoming Dividend • Mar 25
Upcoming dividend of CA$0.063 per share Eligible shareholders must have bought the stock before 01 April 2024. Payment date: 16 April 2024. Trailing yield: 3.0%. Lower than top quartile of Canadian dividend payers (6.4%). Lower than average of industry peers (5.0%). Announcement • Mar 16
Frontera Energy Corporation, Annual General Meeting, May 23, 2024 Frontera Energy Corporation, Annual General Meeting, May 23, 2024. Buy Or Sell Opportunity • Mar 11
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 9.7% to CA$8.40. The fair value is estimated to be CA$6.85, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Mar 10
Full year 2023 earnings released: EPS: US$2.27 (vs US$3.16 in FY 2022) Full year 2023 results: EPS: US$2.27 (down from US$3.16 in FY 2022). Revenue: US$1.15b (down 9.6% from FY 2022). Net income: US$193.5m (down 33% from FY 2022). Profit margin: 17% (down from 23% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 8.3% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in Canada are expected to grow by 5.4%. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Mar 08
Frontera Energy Corporation Declares Dividend on Common Share, Payable on or Around April 16, 2024 Pursuant to Frontera Energy Corporation's dividend policy, Company's Board of Directors has declared a dividend of CAD 0.0625 per Common Share to be paid on or around April 16, 2024, to shareholders of record at the close of business on April 2, 2024. Announcement • Feb 23
Frontera Energy Corporation to Report Q4, 2023 Results on Mar 07, 2024 Frontera Energy Corporation announced that they will report Q4, 2023 results After-Market on Mar 07, 2024 Announcement • Nov 11
Cgx Energy Inc. and Frontera Energy Corporation Announces the Discovery of Total of 114 Feet (35 Meters) of Net Pay At the Wei-1 Well on the Corentyne Block CGX Energy Inc. and Frontera Energy Corporation announce the discovery of a total of 114 feet (35 meters) of net pay at the Wei-1 well on the Corentyne block, approximately 200 kilometers offshore from Georgetown, Guyana. The Joint Venture believes that the rock quality discovered in the Maastrichtian horizon in the Wei-1 well is analogous to that reported in the Liza Discovery on Stabroek block. Results further demonstrate the potential for a standalone shallow oil resource development across the Corentyne block. The Joint Venture also announces that Houlihan Lokey, a leading global investment bank and capital markets expert, is supporting active pursuit of strategic options for the Corentyne block, including a potential farm down, as it seeks to develop this potentially transformational oil investment in one of the most attractive oil and gas destinations in the world today, Guyana. There can be no guarantee that the review of strategic options will result in a transaction. The Wei-1 well, located approximately 14 kilometres northwest of the Joint Venture's previous Kawa-1discovery, was safely drilled by the NobleCorp Discoverer semi-submersible mobile drilling unit in water depth of approximately 1,912 feet (583 metres) to a total depth of 20,450 feet (6,233 meters). The Wei-1 well targeted Maastrichtian, Campanian and Santonian aged stacked sands within channel and fan complexes in the northern section of the Corentyne block. As reported on June 28, 2023, the Joint Venture's data acquisition program at the Wei-1 well included wireline logging, MDT fluid samples and sidewall coring throughout thevarious intervals. Buying Opportunity • Nov 03
Now 20% undervalued Over the last 90 days, the stock is up 12%. The fair value is estimated to be CA$15.05, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Meanwhile, the company has become profitable. Announcement • Oct 20
Frontera Energy Corporation to Report Q3, 2023 Results on Nov 09, 2023 Frontera Energy Corporation announced that they will report Q3, 2023 results After-Market on Nov 09, 2023 Recent Insider Transactions Derivative • Sep 01
Corporate Vice President of Marketing exercised options to buy CA$180k worth of stock. On the 28th of August, Renata Campagnaro exercised options to buy 17k shares at a strike price of around CA$10.06, costing a total of CA$169k. This transaction amounted to 23% of their direct individual holding at the time of the trade. Since March 2023, Renata has owned 71.76k shares directly. Company insiders have collectively bought CA$254k more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: US$0.94 (vs US$0.14 in 2Q 2022) Second quarter 2023 results: EPS: US$0.94 (up from US$0.14 in 2Q 2022). Revenue: US$289.9m (down 16% from 2Q 2022). Net income: US$80.2m (up 495% from 2Q 2022). Profit margin: 28% (up from 3.9% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is expected to decline by 5.2% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in Canada are expected to grow by 2.5%. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 51% per year, which means it is significantly lagging earnings growth. Announcement • Aug 01
Frontera Energy Corporation to Report Q2, 2023 Results on Aug 10, 2023 Frontera Energy Corporation announced that they will report Q2, 2023 results After-Market on Aug 10, 2023 Announcement • Jun 29
CGX Energy Inc. and Frontera Energy Corporation Discover Oil At the Wei-1 Well CGX Energy Inc. and Frontera Energy Corporation announced that the Joint Venture has discovered oil at the Wei-1 well, on the Corentyne block, approximately 200 kilometers offshore from Georgetown, Guyana. The Joint Venture has successfully finished drilling operations without any safety incidents and expects to release the drilling rig in early July 2023. The Wei-1 well encountered 210 feet of hydrocarbon bearing sands in the Santonian horizon. The Joint Venture acquired wireline logs and extensive core samples from the Santonian, however, due to a tool failure downhole and a new tool not being available, oil samples were not obtained. The rock and fluid properties of the Santonian will now be analyzed by an independent third-party laboratory over the next 2- 3 months to define net pay and a basis for the evaluation of this interval. The Joint Venture has updated its previously announced discovery in the Maastrichtian and the Campanian intervals to 77 feet of net pay. Fluid samples were retrieved from the Campanian and Maastrichtian indicating the presence of light crude in the Campanian and sweet medium crude oil in the Maastrichtian. The Joint Venture's data acquisition program included wireline logging, MDT fluid samples and sidewall cores throughout the various intervals. Over the next few months, results will be integrated into the geologic and geophysical models to form an updated view of the entire northern portion of the Corentyne block. The northern portion of the Corentyne block includes the channel complexes discovered by the Kawa-1 and Wei-1 wells, and a prospective central channel complex, which is yet to be evaluated. The Joint Venture is excited by the definitive presence of oil in the Maastrichtian and Campanian and the presence of hydrocarbons in the Santonian and believes there is significant potential in the block. Announcement • Jun 14
Frontera Energy Corporation Announces Joint Venture with CGX Energy Inc Frontera Energy Corporation announced that the joint venture with CGX Energy Inc. has successfully reached total depth (TD) of 20,450' on the Wei-1BP1 (Wei-1 bypass exploration and appraisal well or the "Well"). The original Wei-1 wellbore reached a depth of 19,142'. A bypass well (Wei-1BP1) was drilled from 18,757' to total depth (TD) and penet rated the primary Santonian targets of the Well in the western complex in the northern portion of the Corentyne block. Prior to the bypass, the Well encountered an aggregate of approximately 71 feet of net oil pay in the secondary target reservoirs in the Maastrichtian and Campanian. Following the bypass, data collected from LWD (Logging While Drilling) and cuttings indicate multiple hydrocarbon shows in the primary target reservoirs in the Santonian interval. Results from the well are encouraging: data acquisition is ongoing via wireline logging, MDT's and side wall core sampling. An update on Well results will be provided when the acquisition and evaluation has been finalized. Results from the Well are consistent with pre-drill expectations. The Well has confirmed the Company's geologic and geophysical assessment of the block. As operations continue, the Joint Venture has revised its total Wei-1BP1 cost estimates to approximately $190-$195 million to complete the logging runs, finish well operations, and release the rig. The additional costs are primarily due to the lost sampling tool and the drilling of the bypass well. Reported Earnings • May 08
First quarter 2023 earnings released: US$0.13 loss per share (vs US$1.08 profit in 1Q 2022) First quarter 2023 results: US$0.13 loss per share (down from US$1.08 profit in 1Q 2022). Revenue: US$250.4m (down 1.7% from 1Q 2022). Net loss: US$11.3m (down 111% from profit in 1Q 2022). Revenue is forecast to decline by 2.4% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in Canada are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth. Board Change • May 08
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. CEO & Director Orlando Cabrales Segovia was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Feb 16
Frontera Energy Corporation to Report Q4, 2022 Results on Mar 01, 2023 Frontera Energy Corporation announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on Mar 01, 2023 Announcement • Feb 09
Frontera Energy Corporation Resumes Operations At Quifa and Cpe-6 Blocks Frontera Energy Corporation announced that all blockades on the road from Puerto Gaitán to the Rubiales village in the municipality of Puerto Gaitan, Meta Department, Colombia, have been lifted. The Company has resumed transporting on-site inventory, rotating crews and delivering supplies to its Quifa and CPE-6 operations. The Company anticipates returning to pre-blockade production levels within 14-21 days. The Company appreciates the support provided by local, regional, and national authorities, other affected oil and gas companies in the area, trade associations and communities to quickly and safely resolve the blockades. Announcement • Feb 02
Frontera Energy Corporation Provides Production Guidance for the Month, Fourth Quarter and Full Year Ended December 2022 and for the Full Year 2023 Frontera Energy Corporation provided production guidance for the month, fourth quarter and full year ended December 2022 and for the full year 2023. The company estimated average daily production in December 2022 was approximately 42,200 boe/d. The company estimated average daily production for the fourth quarter ended December 2022 was approximately 41,800 boe/d.The company estimated 2022 average daily production of approximately 41,400 boe/d was in-line with the Company's 2022 increased and tightened production guidance of 41,000 to 43,000 boe/d and represents an approximately 9.5% increase compared to the Company's 2021 average production.For the year 2023, the company expects Average Daily Production to be in the range of 40,000 boe/d to 43,000 boe/d. Announcement • Jan 24
CGX Energy Inc. and Frontera Energy Corporation Spuds the Wei-1 Well, on the Corentyne Block, Approximately 200 Kilometres Offshore from Georgetown, Guyana CGX Energy Inc. and Frontera Energy Corporation, joint venture partners announced that the Joint Venture has spud the Wei-1 well, on the Corentyne block, approximately 200 kilometres offshore from Georgetown, Guyana. The Joint Venture also announced that the Government of Guyana has approved an Appraisal Plan for the northern section of the Corentyne block which commenced with the Wei-1 well. Following completion of Wei-1 drilling operations and upon detailed analysis of the results, the Joint Venture may consider future wells per its appraisal program to evaluate possible development feasibility in the Kawa-1 discovery area and throughout the northern section of the Corentyne block. Any future drilling is contingent on positive results at Wei-1 and the Joint Venture has no further drilling obligations beyond the Wei-1 well. The Wei-1 well is located approximately 14 kilometres northwest of the Joint Venture's previous Kawa-1 light oil and condensate discovery and will be drilled in water depth of approximately 1,912 feet (583 metres) to an anticipated total depth of 20,500 feet (6,248 metres). The Wei-1 well will target Maastrichtian, Campanian and Santonian aged stacked sands within channel and fan complexes in the northern section of the Corentyne block. The well is expected to take approximately 4-5 months to reach total depth. Announcement • Nov 29
Frontera Energy Corporation and CGX Energy Inc. Provide Update On Wei-1 Well Preparations Frontera Energy Corporation and CGX Energy Inc. announced its continued commitment to drill the Wei-1 well and that final preparations are complete in advance of spudding the Wei-1 well, which follows the discovery of light oil and gas condensate at the Kawa-1 well earlier this year. The Wei-1 well will be located approximately 14 kilometres northwest of the Kawa-1 exploration well in the Corentyne block, approximately 200 kilometres offshore from Georgetown, Guyana and will be drilled in water depth of approximately 1,912 feet (583 metres) to an anticipated total depth of 20,500 feet (6,248 metres). The Wei-1 well will target Maastrichtian, Campanian and Santonian aged stacked channels in a western channel complex in the northern section of the Corentyne block.As part of its preparations, the Joint Venture has agreed with the Government of Guyana that the Wei-1 well will be spudded no later than January 31, 2023, utilising NobleCorp's (formerly Maersk) NobleCorp Discoverer semi-submersible mobile drilling unit, which timeline is in keeping with the schedule provided to CGX Resources Inc. by NobleCorp so as to allow for the NobleCorp Discoverer to complete its current obligations in Trinidad. Under the terms of the License for the Corentyne block, the Joint Venture was previously required to spud Wei-1, the second of two commitment wells on the block, by November 27, 2022. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. CEO & Director Orlando Cabrales Segovia was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 03
Third quarter 2022 earnings released: US$0.30 loss per share (vs US$0.40 profit in 3Q 2021) Third quarter 2022 results: US$0.30 loss per share (down from US$0.40 profit in 3Q 2021). Revenue: US$354.5m (up 94% from 3Q 2021). Net loss: US$26.9m (down 170% from profit in 3Q 2021). Revenue is forecast to decline by 5.5% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Canada are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Oct 25
Frontera Energy Corporation to Report Q3, 2022 Results on Nov 01, 2022 Frontera Energy Corporation announced that they will report Q3, 2022 results at 4:00 PM, US Eastern Standard Time on Nov 01, 2022 Reported Earnings • Aug 11
Second quarter 2022 earnings released: EPS: US$0.14 (vs US$0.26 loss in 2Q 2021) Second quarter 2022 results: EPS: US$0.14 (up from US$0.26 loss in 2Q 2021). Revenue: US$344.0m (up 53% from 2Q 2021). Net income: US$13.5m (up US$39.1m from 2Q 2021). Profit margin: 3.9% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 3.7%, compared to a 77% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Aug 11
Frontera Energy Corporation Revises Production Guidance for the Year 2022 Frontera Energy Corporation revised production guidance for the year 2022. Frontera is tightening its 2022 production guidance to 41,000-43,000 boe/d. The Company reiterates its cost guidance including production costs of $11.00-$12.00/boe and transportation costs of $10.00-$11.00/boe. Announcement • Jul 26
Frontera Energy Corporation to Report Q2, 2022 Results on Aug 09, 2022 Frontera Energy Corporation announced that they will report Q2, 2022 results After-Market on Aug 09, 2022 Announcement • Jun 21
Frontera Energy Corporation (TSX:FEC) announces an Equity Buyback for CAD 65 million worth of its shares. Frontera Energy Corporation (TSX:FEC) announces a share repurchase program. Under the substantial course issuer bid, the company will repurchase up to CAD 65 million ($50 million) worth of its shares. The shares will be repurchased at a price of not less than CAD 11 per share and not more than CAD 13 per share. The offer will be funded using the available cash on hand. The repurchased shares will be cancelled. If the aggregate amount of shares validly tendered is greater than the amount available for repurchase the company will purchase the shares on a pro rata basis after giving effect to odd lot tenders (shares tendered by shareholders beneficially owning fewer than 100 shares), which will not be subject to pro-ration. The offer will expire on July 29, 2022, unless extended, varied or withdrawn by the company. As at June 17, 2022, the company had 92,982,495 issued and outstanding shares. Announcement • Jun 17
Frontera Provides Update on Exploration Block Offshore Guyana Frontera Energy Corporation ("Frontera"), joint venture partner with CGX Energy Inc. in the Petroleum Prospecting License for the Corentyne block offshore Guyana, announced that, following constructive discussions with the Government of Guyana, the joint venture will focus exclusively on the exploration opportunities in the Corentyne block. The decision follows the discovery at the Kawa-1 exploration well on the Corentyne block. Frontera will continue to integrate its findings from the Kawa-1 well into preparations for its second exploration well, called Wei-1, in the third quarter of 2022. The Wei-1 exploration well will be located approximately 14 kilometres northwest of the Kawa-1 exploration well in the Corentyne block, approximately 200 kilometres offshore from Georgetown, Guyana. The Wei-1 exploration well will be drilled in water depth of approximately 1,912 feet (583 metres) to a targeted total depth of 20,500 (6,248 metres) and will target Maastrichtian, Campanian and Santonian aged stacked channels in a western channel complex in the northern section of the Corentyne block. Given the importance of the Demerara block to Guyana, Frontera has, in principle, reached an agreement with the Government to allow for the relinquishment of the Demerara block through a mutual termination agreement which terms remain to be defined and documented. Such termination agreement would allow relinquishment of the Demerara block in a timely manner, allowing the people of Guyana to benefit from exploration activities under the stewardship of interested parties.