Frontera Resources Share News (FRR)

(ShareCast News) - Independent oil and gas exploration and production company Frontera Resources Corporation released an update to its operations in Georgia on Monday.The AIM-traded firm had previously announced on 30 September that work is underway to begin the stimulation campaign for six further wells within the its ongoing Oil Window and Gas Window operations at its South Kakheti Gas Complex.Following extensive workover operations throughout October and the procurement of necessary materials, six new wells have now been prepared and will shortly receive stimulation completions in November, the board said on Monday.It expects that the upcoming campaign will significantly contribute towards its current objective of achieving overall year-end pilot production rates of 2,200boe per day, which would result in monthly revenues of approximately $3m at current commodity prices.During the year so far, ongoing work programmes have resulted in Frontera achieving a number of new technical milestones in stimulation operations.The board said the application of a demonstrated stimulation methodology has consequently led to improved overall hydrocarbon recovery.As the company continues to implement techniques that have been applied in similar zones across North America, it continues to evolve completion designs in order to maximize production rates and cumulative volumes, it claimed."Our November programme represents another important step in the continuation of our evolving well stimulation work," said chairman and CEO Steve C. Nicandros."Our work at the Udabno 2 well is particularly important, as we plan to undertake a testing programme that is designed to evaluate an extensive gas-bearing interval of approximately 2,000 meters in gross thickness."I look forward to communicating results in the weeks ahead," he added.