Frontera Resources Corporation Mobilisation of Workover Rig to Dino-2 Well (2220Y)
December 04 2017 - 1:00AM
UK Regulatory
TIDMFRR
RNS Number : 2220Y
Frontera Resources Corporation
04 December 2017
04 December 2017
Frontera Resources Corporation
("Frontera" or the "Company")
Mobilisation of Workover Rig to Dino-2 Well
Frontera Resources Corporation (AIM: FRR), the European focused
oil and gas exploration and production company, is pleased to
announce the mobilisation of a workover rig to the Dino-2 well
site, situated inside the 800 square km Taribani Complex area
located in onshore Block 12, Georgia.
The workover rig will execute operations including the removal
of the production tubing, downhole pump and packer, cleaning the
well and preparing it for the sidetracking/drilling operations
which is scheduled to commence in January 2018.
Once operations are completed at Dino-2 well, it is intended
that the workover rig will move to T-45 well site in Taribani
Complex area in order to remove production tubing, downhole pump
and packer and clean and prepare the well for deepening/drilling
operations which is scheduled to commence in March 2018.
Dino-2 well will be drilled to a target depth of 2700m and, as
previously announced on 10 October 2017, Zones 9, 14 and 15 of the
Eldari reservoir will be stimulated and produced together.
T-45 well will be extended to a target depth of 2700m and Zones
9, 14 and 15 of the Eldari reservoir will be stimulated and
produced together, in a similar manner as Dino-2 well.
According to the estimates produced by Netherland, Sewell and
Associates, Zones 9, 14 and 15 in Taribani Complex are estimated to
have 689 million barrels of oil in place with 103.5 million barrels
considered to be recoverable.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Enquiries:
Frontera Resources (713) 585- 3216
Zaza Mamulaishvili
info@fronteraresources.com
Cairn Financial Advisers
LLP +44 (0) 20 7213 0880
Jo Turner / Liam Murray
WH Ireland Limited +44 (0) 20 3411 1880
James Joyce / Alex Bond
Yellow Jersey +44 (0) 203 735 8825
Tim Thompson
Harriet Jackson
Henry Wilkinson
Notes to Editors:
About Frontera Resources Corporation
Frontera Resources Corporation is an independent, international
oil and gas exploration and production company whose strategy is to
identify opportunities and operate in emerging markets in Eastern
Europe around the Black Sea. Frontera Resources Corporation shares
are traded on the London Stock Exchange, AIM Market - Symbol: FRR.
For more information, please visit www.fronteraresources.com .
1. Information on Resource Estimates: The independent contingent
and prospective resources estimates contained in this announcement
were determined by the independent consulting firm of Netherland,
Sewell & Associates (NSA) in accordance with the definitions
and guidelines set forth in the 2007 Petroleum Resources Management
System (PRMS) adopted by the Society of Petroleum Engineers
(SPE).
2. This release may contain certain forward-looking statements,
including, without limitation, expectations, beliefs, plans and
objectives regarding the transactions, work programs and other
matters discussed in this release. Exploration for oil is a
speculative business that involves a high degree of risk. Among the
important factors that could cause actual results to differ
materially from those indicated by such forward-looking statements
are: risks inherent in oil and gas production operations;
availability and performance of needed equipment and personnel; the
Company's ability to raise capital to fund its exploration and
development programs; seismic data; evaluation of logs, cores and
other data from wells drilled; inherent uncertainty in estimation
of oil and gas resources; fluctuations in oil and gas prices;
weather conditions; general economic conditions; the political
situation and relations with neighboring countries; and other
factors listed in Frontera's financial reports, which are available
at www.fronteraresources.com. There is no assurance that Frontera's
expectations will be realized, and actual results may differ
materially from those expressed in the forward-looking
statements.
3. Glossary of Terms: BCF - means Billion Cubic Feet of gas. TCF
- means Trillion Cubic Feet of gas. Mcf - means Thousand Cubic Feet
of gas. OOIP - means Original Oil in Place. OGIP - means Gas in
Place. Bopd - means Barrels of Oil Per Day. PPG - means
pounds-per-gallon.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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