Frontera Energy and CGX Energy Dispute Corentyne Block License with Guyana Government

Frontera Energy ( (TSE:FEC) ) has shared an announcement.

Frontera Energy and CGX Energy have provided an update on their Corentyne block license, which is currently under dispute with the Government of Guyana. The government has rejected the joint venture’s claims of maintaining their license, stating it expired in June 2024, but is open to further discussions. The joint venture, holding a 100% working interest in the block, remains firm on their stance that their license is valid and is prepared to assert their legal rights if necessary. This ongoing dispute could impact Frontera’s operations and its strategic interests in the region.

Spark’s Take on TSE:FEC Stock

According to Spark, TipRanks’ AI Analyst, TSE:FEC is a Outperform.

Frontera Energy receives a solid overall score driven by its strong financial performance and strategic corporate actions. The company’s initiatives to enhance shareholder value through buybacks and dividends are significant positives. However, a relatively high P/E ratio suggests caution regarding valuation, and mixed technical indicators reflect neutral market sentiment.

To see Spark’s full report on TSE:FEC stock, click here.

More about Frontera Energy

Frontera Energy Corporation is a Canadian public company engaged in the exploration, development, production, transportation, storage, and sale of oil and natural gas in South America. The company holds a diversified portfolio of assets, including interests in 22 exploration and production blocks in Colombia, Ecuador, and Guyana, as well as pipeline and port facilities in Colombia. Frontera is committed to conducting business safely and in a socially and environmentally responsible manner.

Average Trading Volume: 58,768

Technical Sentiment Signal: Sell

Current Market Cap: C$445.6M

For detailed information about FEC stock, go to TipRanks’ Stock Analysis page.