Cash
source: http://www.fronteraenergy.ca/content/uploads/2020/09/September-2020-Corporate-Presentation-2Q2020.pdf
Oil production
Let’s skip this for now; there’s a lot of operating loss from low oil prices. From Frontera’s Q2 presentation MD&A, here’s a snapshot.
The net loss was primarily caused by the operating loss of $79.9 million which was driven by lower oil price
realizations from lower production.
source: http://www.fronteraenergy.ca/content/uploads/2020/09/September-2020-Corporate-Presentation-2Q2020.pdf
Exploration
- Guyana Offshore Assets
Infrastructure Assets
- ODL $22.3 million USD for six months ended in June
- BIC $17.0 million USD for six months ended in June
- Puerto Bahía
For the six months ended June 30, 2020, the Company recognized $22.3 million as its share of income from ODL which was $6.2
million lower than the same period of 2019 primarily due to a decrease in the transportation tariff in 2020 and the impact of foreign
exchange fluctuations. During the six months ended June 30, 2020, the Company recognized gross dividends of $24.5 million which
were declared and paid by ODL.
For the six months
ended June 30, 2020, the Company recognized its share of dividends declared by Bicentenario totalling $17.0 million. As at June 30,
2020, the carrying value of dividends receivable from Bicentenario on a discounted basis was $49.7 million ($56.6 million
undiscounted).
source: http://www.fronteraenergy.ca/content/uploads/2020/08/MDA-Frontera-Q2-2020-2.pdf
Thoughts:
Is the company really worth $228.41M CAD (today’s market cap)? NO – they are worth more. I have no idea why there are 9 million shorts. Something seems fishy, but I’ll be buying and buying…