Frontera Resources dips despite progress reported

Frontera Resources reported progress towards selling gas from its Mtsare Khevi Field in Georgia. Testing and final regulatory approval of the installed 14km system is nearly complete ahead of first gas sales. AIM-listed Frontera said it believed production from currently shut-in gas wells could produce 2m cubic feet (57,000 cubic metres) per day of gas from the outset.Shares in Frontera, which also notified of a new $5m bank facility, were down 6.7% to 0.69p at 09:21 on Thursday.OH