LONDON (Alliance News) - Oil and gas exploration company Frontier Resources International PLC said Monday that its subsidiary Frontier Resources Oman Ltd had been cleared by authorities to operate in Oman.
The wholly-owned subsidiary completed the regulatory process through the Embassy of the Sultanate of Oman in London and the Omani Ministry of Commerce and Industry in Muscat, allowing it to operate as a branch of Frontier Resources International in the country.
Frontier also said that it had bolstered numbers of key personnel in Houston and its new London office to support its technical, financial and administrative functions.
Results from the company's soil gas survey of its assets in Namibia are expected in the next month.
Frontier has assets in Oman, Zambia and Namibia. Its shares were trading down 4.3% at 4.50 pence Monday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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