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Oil & gas exploration and production outfit Frontera Resources (LON:FRR) has filed a court action against a debtor in the Cayman Islands and has been granted an injunction regarding the security underlying the loan notes. Management also said that the arbitration with the Georgian government was ongoing and that the company was confident in its standing and compliance with the relevant production sharing contract.
More information about both cases will be made available to investors in due course. Shares in Frontera Resources fell by 4.97% to 0.38p (as of 13:15 BST).