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Frontera Energy Provides Operational Update

Frontera Energy Provides Operational Update
prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.

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Guyana: Frontera Energy announces spud date for Kawa-1 well on the Corentyne block offshore Guyana

Guyana: Frontera Energy announces spud date for Kawa-1 well on the Corentyne block offshore Guyana
energy-pedia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from energy-pedia.com Daily Mail and Mail on Sunday newspapers.

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PANDEF seeks reversal of PIB, insists on 10% for host communities

(FILES) This file photo taken on May 18, 2005 (FILES) shows Shell Oil’s oil and gas terminal on Bonny Island in southern Nigeria’s Niger Delta. – Nigeria’s parliament on July 1, 2021 voted to approve a long-delayed oil and gas law that aims to attract new foreign investment to the OPEC country’s petroleum industry.The Petroleum Industry Bill or PIB had been under review in the National Assembly for nearly two decades, beset by disagreements, including over how much revenue should go to local communities in oil-producing regions. (Photo by Pius Utomi EKPEI / AFP)
The Pan-Niger Delta Forum (PANDEF), yesterday, demanded a reversal of the Petroleum Industry Bill (PIB) as passed by the National Assembly in which the lawmakers reduced host communities’ operating expenditure from five per cent to three per cent. ....

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Frontera Announces First Quarter 2021 Results

Frontera Announces First Quarter 2021 Results
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IN LINE WITH GUIDANCE
INCREASED OPERATING EBITDA BY 94% TO $69.2 MILLION AND
REDUCED PRODUCTION COSTS PER BARREL BY 22% COMPARED TO Q4/2020
RECEIVED FAVOURABLE OPINION ON CONCILIATION AGREEMENT
FROM PROCURADURÍA GENERAL DE LA NACIÓN
TARGETING AN EARLY THIRD QUARTER SPUD FOR THE GUYANA KAWA-1 WELL
TORONTO, May 5, 2021 /PRNewswire/ - Frontera Energy Corporation (TSX: FEC) (
Frontera or the
Company ) today reported financial and operational results for the first quarter ended March 31, 2021. All financial amounts in this news release are in United States dollars, unless otherwise stated.
First Quarter Operational and Financial Results: ....

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Frontera and CGX Announce $19 Million Loan

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“These are exciting times for CGX, the Joint Venture and our stakeholders as we get closer to spudding Kawa-1,” said Professor Suresh Narine, Executive Co-Chairman of CGX. “We have exciting exploration plans for the Kawa-1 and Makarapan-1 wells on the Corentyne and Demerara Blocks and, as importantly, we are developing the infrastructure necessary to support and enhance broader energy and trade industry activity through the Berbice Deepwater Port Project. We look forward to executing on our programs and creating value and opportunity for our stakeholders.”
The Loan to CGX will be available for drawdown in tranches on a non-revolving basis until the earlier of October 31, 2021 or the date on which CGX (or its subsidiaries) enters into a binding transaction that provides funds to repay the amounts outstanding under the Loan. The Loan, together with all interest accrued, shall be due and payable on June 30, 2022, or such later date as determined by Fr ....

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