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Frontera Resources claims "well big" success

Tue, 11th Oct 2011 08:07

Frontera Resources, the Georgia focused oil and gas company, says that a new well has hugely increased the size of its Mtsare Khevi field.So-called "well 32" was dug to a depth of 370 metres and the test results delivered a flow rate of approximately 12,500 cubic meters of gas per day.Frontera's site is 10 kilometres from Georgia's national gas pipeline so the company hopes that infrastructure will now be put in place to connect its site to the grid.The Chairman and Chief Executive of Frontera, Steve Nicandros, said of the find:"The successful results achieved by the 32 well are extremely significant in that they not only serve to ... enhance the value of the Mtsare Khevi field's gas resources, but also confirm the presence of gas in the western portion of Block 12 which may lead to further upside prospectivity. "He went on to add: "...the success achieved from recent drilling has significantly enhanced the value of the Mtsare Khevi field and will now set us on a course to accelerate gas sales into the local market where prices range from $4 to $6 per mcf [million cubic feet]. When these gas sales commence, the increase in production will provide Frontera with the additional cash flow to significantly enhance the profile of the Company and contribute to its target of reaching 5,000b/d by the end of 2013." Frontera's share price jumped 11.86% in early trading on news of the find.BS
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13 Apr 2016 08:28

Frontera Resources Finance Chief McGregor Retires

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7 Apr 2016 14:47

Positive progress for Frontera Resources at South Kakheti

(ShareCast News) - Independent oil and gas explorer and producer Frontera Resources updated the market on positive progress at its South Kakheti Gas Complex on Thursday, situated within its upstream portfolio in Georgia. The AIM-traded company had announced the commencement of operations within the

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7 Apr 2016 08:42

Frontera Stimulates Wells In Georgia Ahead Of Larger Drill Programme (ALLISS)

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21 Mar 2016 10:54

Frontera To Start Drilling Four Wells At South Kakheti Imminently

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25 Feb 2016 15:29

Frontera settles bills with new share issue

(ShareCast News) - Frontera Resources settled some sizeable bills on Thursday, through the issue of 100 million new ordinary shares. The AIM-traded independent oil and gas exploration and production company said the issue was for the settlement of $736,000 (£529,000) in fees, due to "certain unrelat

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25 Feb 2016 09:08

Frontera Resources Issues Shares To Pay USD736,000 Fees (ALLISS)

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9 Feb 2016 15:00

Frontera Resources solidifies move into Ukraine

(ShareCast News) - Frontera Resources moved to solidify its expansion into Ukraine on Tuesday, signing a memorandum of understanding (MOU) with UkrGasVydobuvannya (UGV), a subsidiary of the country's national energy company Naftogaz. The AIM-traded independent oil and gas exploration and production

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9 Feb 2016 09:40

Frontera Resources Signs MoU With Ukrainian Energy Company Subsidiary

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14 Jan 2016 11:18

Frontera Close To Substantial Oil & Gas Production From South Kakheti

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23 Dec 2015 11:07

Frontera Resources ups gas-in-place estimate for Georgia complex

(ShareCast News) - Oil and gas exploration and production company Frontera Resources upgraded its estimate for the gas in place at its South Kakheti Gas Complex in Georgia. Frontera said that since its announcement in October, it has carried out extensive geologic and geophysical studies and it has

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23 Dec 2015 08:14

Frontera Resources Upgrades Gas-In-Place Estimate For South Kakheti

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8 Oct 2015 07:15

Frontera Increases Internal Gas Resource Estimate In Georgia Ten-Fold

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29 Sep 2015 12:05

Frontera Eyeing Ten-Fold Potential Increase In Gas Reserves In Georgia

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17 Jul 2015 09:37

Ukraine has 12.5 bcm of gas in reserves, considers LNG

KIEV, July 17 (Reuters) - Ukraine has collected 12.5 billion cubic metres (bcm) of gas in underground storage as of July 17, still short of the 18-19 bcm it aims to have in reserve before mid-October, the country's gas transport monopoly said on Friday. Ukraine is pumping about 32 million c

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15 Jul 2015 08:05

Frontera Resources Signs Agreement With Ukraine's Naftogaz

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