9 Jun 2015 13:09
9 June 2015
FRONTIER RESOURCES INTERNATIONAL PLC
("Frontier" or the "Company")
Operational Update: Namibia
The Board of Frontier (AIM Ticker: FRI), the AIM - traded international oil and gas exploration company with focus on the Middle East and Southern Africa, is pleased to provide shareholders with an operational update on its activities in Namibia.
Frontier's Blocks 1717 and 1817, located in the Owambo Basin in northern Namibia, cover an area of approximately 18,933 square kilometers. Frontier is operator with a 90% working interest while NAMCOR, the Namibian National Oil Company, has a 10% carried interest in the license.
As previously announced, the results of the soil gas survey conducted in 2013 confirmed the presence of one or more oil generating source rocks within the license area. These results have been integrated with a recently completed study to determine the thickness of sediments within the license and enabled the company to further focus on areas that appear to be most promising for the accumulation and trapping of hydrocarbons. With the assistance of its local contractor Pioneer Minerals, Frontier has completed an in-field reconnaissance survey and plans to begin acquiring and analysing additional soil gas samples over these prioritised areas. These new soil gas data will be used to further assist in delineating potential oil-prone areas while the Company waits for a seismic crew to become available.
Enquiries:
Frontier Resources International Plc
Neil Herbert, Chairman Tel: 0207 628 3396
Jack Keyes, Chief Executive Officer Tel: +1 (281) 920 0061
Beaumont Cornish Limited (Nomad) Tel: 0207 628 3396
Michael Cornish
Beaufort Securities Limited (Joint Broker) Tel: 0207 382 8300
Saif Janjua
About Frontier:
Frontier Resources International Plc, which was founded in April 2008, is focused on onshore oil and gas exploration and development in the Middle East and Southern Africa where the Company has technical knowledge and expertise. The Company currently has three exploration projects in Oman, Zambia and Namibia.
Frontier's immediate objectives are to continue developing its core exploration projects towards first production particularly in Oman where the Company's knowledge base is most advanced because of the proximity to producing oil and gas fields and the availability of existing seismic and well data.
The Company is incorporated in the United Kingdom with its registered office in London. It also maintains a technical and commercial office in the United States in Houston, Texas. Additionally, to support its regional operations in Southern Africa and the Middle East, offices are maintained in Namibia, Zambia and Oman.