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News for 'FRGY' - (Frontier Energy Corp. Signs Letter of Intent for Purchase of Assets of Cancen Oil Processors)
NORTH LAS VEGAS, NV, Jun 27, 2008 (MARKET WIRE via COMTEX) -- Frontier Energy Corporation ("Frontier" or the "Company")(PINKSHEETS: FRGY) is pleased to announce it has signed a letter of intent for the purchase of all assets and on-going business of Cancen Oil Processors, Inc. ("Cancen") (www.cancenoil.com), a private company. Cancen's assets include a refinery, multiple disposal wells and an existing operating business with experienced staff.
Frontier CEO Bob Genesi comments, "All parties are very excited about what this potential purchase could mean for Frontier and for Cancen. Discussions have been swift and only minor details remain. We hope to announce a completion of this purchase in the near term."
The Letter of Intent includes provisions whereby the two parties will use their best efforts to move forward to execute and deliver a definitive purchase and sale agreement within a short period of time. Additional information will be forthcoming as it becomes available.
About Frontier Energy Corp.
Frontier is an exploratory oil and gas business headquartered in Las Vegas, Nevada. Our goal is to build a solid portfolio of assets through the acquisition of leases and explore and develop the opportunities on our leases.
Except for the historical information presented, the above statements are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 or regulations thereunder. These forward-looking statements are subject to risks and uncertainties, and actual results may differ materially. These risks include the economic health of the oil and gas industry, competitive pricing pressures, completion of possible acquisitions, success at integrating and operating any acquired operations and the availability of necessary financing. These statements speak only as of above date, and Frontier disclaims any intent or obligation to update them.
Interesting point from the above link (about 1 project) as follows:
1. "....maximum production capacity of 6000 barrels of processed oil per day at the existing Cancen processing site located in Alberta, Canada." (i.e. we're in the munny). 2. "and space for one 5 megawatt steam turbine/electrical generator."
With assets including an oil refinery and multiple disposal wells, this looks very exciting.
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NOTICE OF APPLICATION APPLICATION NO. 1479343 CANCEN OIL PROCESSORS INC. NEW SAREPTA
Take Notice that the Alberta Energy and Utilities Board (EUB) has received Application No. 1479343. This notice is to advise of the filing of this application. Note that if no submissions are received on or before April 13, 2007 relating to the application, the EUB may continue to process this application without further notice.
Nature of the Application Cancen Oil Processors Inc. pursuant to section 15.212 of the Oil and Gas Conservation Regulations, EUB Interim Directive 96-3: Oilfield Waste Management Requirements for the Upstream Petroleum Industry, and EUB Directive 58: Oilfield Waste Management Requirements for the Upstream Petroleum Industry, has applied to the EUB for approval to operate an oilfield waste processing facility located at Legal Subdivision 06, Section 11, Township 050, Range 22, West of the 4th Meridian.
Additional Information To obtain additional information or a copy of the application, contact Cancen Oil Processors Inc. P.O. Box 234, New Sarepta, Alberta T0B 3M0 Attention: Rick Morawski Telephone: (780) 955-0000 Fax: (780) 955-2022
A copy of the application is available for viewing at the EUB’s Calgary office
EUB Information Services Main Floor, 640 – 5th Avenue SW Calgary, Alberta T2P 3G4 Telephone: (403) 297-8190
For information about EUB procedures, contact
Environment Group, Waste and Storage Section Attention: Kerry D. Robertson Telephone: (403) 297-6877 Fax: (403) 297-2691 E-mail: kerry.d.robertson*gov.ab.ca
To File a Submission If you have an interest in this application and you wish to file a submission, please state in writing your reasons for filing by no later than April 13, 2007. Send one copy of your submission to the applicant at the name and address above and another copy to
Kerry D. Robertson, Applications Coordinator Environment Group, Waste and Storage Section Alberta Energy and Utilities Board 640 – 5th Avenue SW Calgary, Alberta T2P 3G4
Notes Any submission filed shall contain the following:
(a) a concise statement indicating
(i) the manner in which the intervener’s rights may be directly and adversely affected by a decision of the Board on the proceeding,
(ii) the nature and scope of the intervener’s intended participation,
(iii) the disposition of the proceeding that the intervener advocates, if any,
(iv) the facts the intervener proposes to show in evidence,
(v) the reasons why the intervener believes the Board should decide in the manner that the intervener advocates, and
(vi) the intervener’s efforts, if any, to resolve issues associated with the proceeding directly with the applicant;
(b) the name, address in Alberta, telephone number, fax number and, if available, e-mail address of the intervener;
(c) if the intervener is represented by a representative, the name, address in Alberta, telephone number, fax number and, if available, e-mail address of the representative;
(d) if the intervener is an unincorporated organization, the nature of the intervener’s membership.
If you have an interest in this matter, you are required to make a submission with respect to this application even if you have previously filed a submission with the Board or with Cancen Oil Processors Inc. on this application.
Submissions relating exclusively to compensation for land usage are not dealt with by the EUB but may be referred to the Alberta Surface Rights Board.
Note: In accordance with Section 12 of the Alberta Energy and Utilities Board Rules of Practice, all documents filed in respect of this proceeding must be placed on the public record unless otherwise ordered by the Board.
Issued at Calgary, Alberta on March 22, 2007
ALBERTA ENERGY AND UTILITIES BOARD Douglas A. Larder, Q.C., General Counsel
Jun 30, 2008 BenchmarkJournal.com Sector Analysis for GYGC, LTHU, BZTG and FRGY Jun 30, 2008 ********.com: ********.com Daily Market Movers Digest Midday Report for Monday, June 30th GYGC, CABN, FRGY, DDSS, BZTG Jun 30, 2008 Maxwell Media Marketing: The Serious-Speculator.com Movers and Shakers for Monday, June 30, 2008 LTHU, FRGY, BZTG, GYGC, VYEY Jun 30, 2008 ****************.com: SYMW, CPTC, FRGY, GETG - ****************.com Stock Alert Jun 30, 2008 Pinnacle Digest: Frontier Energy Labeled Company Of Interest By Leading Online Investment Magazine
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Very cool. A couple heavy resistance lines around .04.... some nice momo right now. Nice.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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SusanStock, Thanks for your post on this stock,you do great work.Im new to this game and your info was most helpfull,Thanks
Posts: 5 | From: PHL Pa | Registered: Jul 2008
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FRONTIER ENERGY CORP. (AN EXPLORATION STAGE ENTERPRISE) BALANCE SHEETS
June 30, December 31, 2008 2007 (UNAUDITED) (AUDITED) -------------- --------------- ASSETS
Current assets: Cash $ 463 $ 131 Receivables, net of allowance for doubtful accounts of $76,696 - - -------------- --------------- Total current assets 463 131 -------------- --------------- Fixed assets, net of $328 accumulated depreciation 766 875 Mineral leases, net of $1,636 accumulated amortization 9,269 9,814 -------------- --------------- Total assets $ 10,498 $ 10,820 ============== ===============
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities: Accounts payable and accrued liabilities $ 302,697 $ 300,197 Accrued interest - related parties 10,849 4,694 Due to related parties 91,935 27,567 Loans payable - related parties 128,385 47,000 Loans payable 100,322 145,322 -------------- --------------- Total current liabilities 634,188 524,780 -------------- --------------- Total liabilities 634,188 524,780
Stockholders' deficit: Series A preferred stock, $0.001 par value; 1 share authorized, issued and outstanding - - Series B preferred stock, $0.001 par value; 10,000,000 shares authorized; and 80,000 shares issued and outstanding 80 80 Common stock, $0.001 par value; 500,000,000 shares authorized; and 85,513,737 shares issued and outstanding 85,513 41,256 Additional paid-in capital 7,275,537 6,631,034 Common stock subscribed 38,485 38,485 Common stock issued for future services on employment agreement - (29,750) Accumulated deficit prior to reentering exploration stage (3,042,536) (3,042,536) Accumulated deficit after reentering exploration stage (4,980,769) (4,152,529) -------------- --------------- Total stockholders' deficit (623,690) (513,960) -------------- --------------- Total liabilities and stockholders' deficit $ 10,498 $ 10,820 ============== ===============
Posts: 208 | Registered: Sep 2008
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FRONTIER ENERGY CORP. (AN EXPLORATION STAGE ENTERPRISE) STATEMENTS OF CASH FLOWS (UNAUDITED) Cumulative After Reentering For the Six Months Ended Exploration Stage June 30, through 2008 2007 June 30, 2008 ----------- ------------ -------------
CASH FLOWS FROM OPERATING ACTIVITIES Net loss $ (828,240) $ (1,679,049) $ (4,980,769) Adjustments to reconcile loss to net cash used in operating activities: Depreciation and amortization expense 654 109 1,964 Stock issued as finders fee for farmin agreement - - 800,000 Loss on impairment of mineral claims - - 80,000 Current period expense for services paid with stock 29,750 - 357,000 Consulting service expense 8,000 1,563,254 2,366,834 Financing cost 188,200 - 188,200 Gain on legal settlement 411,575 - 411,575 Changes in operating assets and liabilities: Accounts payable and accrued liabilities 43,885 23,757 147,973 Accrued interest payable 6,155 - 6,155 Due to related parties 64,368 - 64,368 ----------- ------------ ------------- Net cash used in operating activities (75,653) (91,929) (556,700) ----------- ------------ ------------- CASH FLOWS FROM INVESTING ACTIVITIES Purchase of fixed assets - - (1,094) Acquisition of mineral leases - - (10,905) ----------- ------------ ------------- Net cash used in investing activities - - (11,999) ----------- ------------ ------------- CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from issuance of common stock 19,500 64,920 275,007 Proceeds from subscriptions for common stock - 12,485 38,485 Proceeds from borrowings from notes payable 101,485 - 294,012 Payments on borrowings from notes payable (45,000) - (45,000) Proceeds from borrowings from related parties - (2,791) 2,295 ----------- ------------ ------------- Net cash provided by financing activities 75,985 74,614 564,799 ----------- ------------ ------------- NET CHANGE IN CASH 332 (17,315) (3,900)
CASH AT BEGINNING OF YEAR 131 23,390 4,363 ----------- ------------ ------------- CASH AT END OF YEAR $ 463 $ 6,075 $ 463 =========== ============ ============= SUPPLEMENTAL INFORMATION: Interest paid $ - $ - $ - =========== ============ ============= Income taxes paid $ - $ - $ - =========== ============ =============
Non-cash activities: Shares issued pursuant to farm-in agreement $ - $ - $ 800,000 =========== ============ ============= Shares issued in settlement of accounts payable $ 33,786 $ - $ 188,096 =========== ============ ============= Shares issued for mineral claims $ - $ - $ 80,000 =========== ============ ============= Shares issued for settlement of lawsuit $ 411,575 $ - $ 6,000 =========== ============ ============= Shares issued for notes payable $ 14,600 $ - $ 14,600 =========== ============ ============= Shares issued for debts to related parties $ 13,100 $ - $ 476,061 =========== ============ ============= Shares issued for financing expense $ 188,200 $ - $ 188,200 =========== ============ ============= Shares issued for services $ 8,000 $ - $ 8,000 =========== ============ =============
Posts: 208 | Registered: Sep 2008
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