LONDON (Alliance News) - Frontier Resources International PLC Friday said it has finished studying legacy data of its Block 38 in Oman and has identified possible exploration targets previously unseen by its original seismic testing of the site.
The oil and gas exploration company with assets in Oman, Namibia and Zambia said initial interpretation of legacy 2D seismic data has enabled it to see new geological regions and identify a number of exploration targets, including in formations in geological regions currently under development by BP PLC at the major Khazzan Field in central Oman.
The company's Block 38 site is located in the Rub Al Khali Basin in southwest Oman and covers a surface area of approximately 17,425 square kilometres.
Frontier Resources said it now sees the potential presence of an Ara formation intra-salt play in the block and has decided to reprocess up to an additional 400 kilometres of further legacy data to further understand the play.
The company added that it is developing a plan to acquire new seismic data to develop its understanding of the targets to prospect level and to determine the optimal location for a 3D seismic survey.
Frontier Resources shares were untraded on Friday. They were last quoted at 2.125 pence.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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