Ahead of the event, the Black Sea and US focused oil and gas group released an RNS and a Frontera spokesperson said this also contained the only market sensitive information during the call.
"This outlined the possibility of a future transaction involving a farmout of JV alongside a potential industry partner."
The AIM-listed group said recently that its target is 2,200 barrels per day from pilot production at Block 12 in Georgia. This would generate US$3mln per month in revenues.
Shares today climbed 47% to 0.352p.
Andy Roberts, executive chairman, bought 1.1mln shares at 3.5p, Claire Milverton, interim chief executive bought 291,000 at 3.43p.
Roberts’ stake is now 0.42% the same as Milverton’s.
Delays experienced in the delivery by a supplier of key product components required for the Watchlock and slower growth in the recurring SAS (Software-as-a-Service) revenues were blamed.
10.00am..Van Elle in a hole after warning
Construction group VanElle Holdings PLC (LON:VANL) was a heavy faller as it warned it was still suffering from contract delays.
Van Elle specialises in the preparation stage and a number of rail contracts within its Specialist Piling division will be delayed beyond the end of the current financial year and, in a small number of cases, may be canned completely.
Full year revenue will be around £93mln, or some 5% below previous expectations as a result.
Margins have also been affected though a final dividend will be paid in line with expectations at the time of its IPO in October, said the statement.
Shares fell 21% to 90p.
Online business-to-business marketplace creator cloudBuy PLC (LON:CBUY) will be more hard-nosed in pursuing new customers after a tough 2016.
A new focus on projects that have a larger upfront fee, to mitigate the risk for cloudBuy and provide a larger incentive for the customer to continue through to the transaction revenue phase, has already been instigated.
This strategy proved effective in 2016 with four new customer contracts won, all with large customers providing ongoing software-as-a-service (SaaS) revenue.
Shares though fell 21% today as losses, though lower, were still £4.27mln.
Asiamet Resources Limited (LON:ARS) rose 8% to 4.33p as it reported resource definition drilling program at the Beruang Kanan Main (BKM) copper deposit is expected to be completed in early April, with an updated resource estimate due shortly thereafter.
Metallurgical test-work programs at the BKM deposit - which is in Central Kalimantan, Indonesia – have also seen a significant ramp-up of activities over the past two months.
Proactive news headlines
Tanzania-focused gas investment firm Solo Oil PLC (LON:SOLO) has announced its move into helium with a deal worth up to £6.55mln. It is spending £2.55mln for a 10% stake in Helium One in a cash and shares transaction and has the option to double its holding for an extra £4mln.
Cello Group plc (LON:CLL), the pharmaceutical and consumer strategic marketing group, announced a solid set of results for 2017, with improvements in revenue and headline profit before tax, and an 18.9% hike in the dividend.
eg Solutions PLC (LON:EGS) saw its full-year underlying profits jump by over 50% driven by record revenues in the second-half thanks to multiple new contract wins across many sectors and territories.
Futura Medical PLC (LON:FUM) has signed a marketing and distribution deal in Portugal for its CSD500 condom, which allows the wearer to maintain a firmer erection. The company is partnering with F Lima, which distributes consumer brands to supermarkets and pharmacies.
Venn Life Sciences Holdings plc (LON:VENN) delivered strong revenue and order book growth in 2016 as it integrated Dutch drug consultancy Kinesis Pharma into the business. Revenue rose to €17.9mln in the year to 31 December 2016, from €11.5mln the previous year.
IGas Energy Plc (LON:IGAS) lands planning approval for a shale well site, for a single exploration well, in north Nottinghamshire.
Strategic Minerals plc (LON:SML) said drilling has kicked off at the Redmore tin and tungsten project in Cornwall. The company owns a 50% interest in the project, which holds an exploration licence and option over 23km sq in the Cornish tin, tungsten and copper mining district in the UK.
Cello Group plc (LON:CLL), the pharmaceutical and consumer strategic marketing group, announced a solid set of results for 2017, with improvements in revenue and headline profit before tax, while there was a pleasant surprise on the dividend front, with the pay-out hiked by 18.9%.