Frontera Resources Corporation Update (8575D)
2018年10月12日 - 3:00PM
RNSを含む英国規制内ニュース (英語)
TIDMFRR
RNS Number : 8575D
Frontera Resources Corporation
12 October 2018
12 October 2018
Frontera Resources Corporation
("Frontera" or "the Company")
Update
Frontera Resources Corporation (AIM: FRR), the European-focused
oil and gas exploration and production company, notes the recent
movement in share price following the shareholder Q&A session
with the Company's CEO on 4 October 2018.
The Company confirms that there is no further update from the
position previously notified, other than in respect of the action
in Cayman Grand Court, which the Company summarises below.
Industry Partner Discussions and Extended Well Testing
The Company previously announced that it had entered into
Non-Disclosure and Data Exchange Agreements with two industry
majors with a view to progressing possible transactions involving a
farmout or joint operating agreement. Technical work and commercial
discussions are ongoing with both industry majors and the Company
continues its extended well tests to support data analysis for the
two industry majors.
Arbitration
On 16 April 2018, the Company advised that it received a request
for arbitration from Georgian Oil and Gas Corporation and State
Agency of Oil and Gas in respect to certain terms of the Company's
production sharing contract ("PSC"). The arbitration proceedings
are continuing and the Company will update the market in due
course. The Company remains confident of its standing and complete
compliance with the PSC.
Action in Cayman Grand Court with respect to the 2020 notes
On 11 October 2018, the Company and its fully-owned subsidiary,
Frontera International Corporation, filed an action in the Grand
Court of the Cayman Islands in relation to the loan notes issued by
Frontera International Corporation to Outrider Master Fund L.P. in
2016 and due in 2020. On the same date, the Court granted the
Company's request for an injunction regarding the security
underlying the notes pending the outcome of the dispute. The
Company intends to vigorously assert its rights. The Company will
provide further updates as they become available.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Enquiries:
Frontera Resources (713) 585- 3216
Zaza Mamulaishvili
info@fronteraresources.com
Cairn Financial Advisers LLP +44 (0) 20 7213 0880
Jo Turner / Liam Murray
WH Ireland Limited +44 (0) 20 3411 1880
James Joyce / Chris Viggor
Yellow Jersey +44 (0) 203 735 8825
Tim Thompson
Harriet Jackson
Henry Wilkinson
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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October 12, 2018 02:00 ET (06:00 GMT)
Frontera (LSE:FRR)
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