30 Jul 2015 07:00
For immediate release
30 July 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 part of its ongoing strategy to develop a comprehensive, regional understanding of the Owambo basin, Frontier recently completed a data exchange of high resolution airborne magnetic data and the associated technical interpretation, over a large area covering nearby blocks. The data interpretation was undertaken by Exploration Technology Inc. in Houston, Texas, and has determined the sediment thickness in the area by calculating and mapping the depth to the basement rocks. It has also identified regional geologic trends in the subsurface. This technology, when integrated with gravity and seismic data, was used successfully by Frontier in the identification of drillable structures on its block in Oman.
These new data are now being integrated with Frontier's existing database over Blocks 1717 and 1817 that includes magnetic, gravity and seismic data. High resolution magnetic and gravity data are very useful tools in helping identify anomalous features seen on the seismic, especially in sparsely drilled areas such as this which, from the evidence of the previously acquired soil gas survey could contain very large volumes of undiscovered hydrocarbons.
CEO Jack Keyes says: 'These additional data will add to our already significant knowledgebase of the Blocks and further assist with the identification of areas requiring additional seismic data prior to drilling."
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 (Broker) | Tel: 0207 382 8300 |
Zoe Alexander
|
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's principal exploration projects are in Oman 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.
ENDS