23 Sep 2013 07:00
For immediate release
23 September 2013
FRONTIER RESOURCES INTERNATIONAL PLC
("Frontier" or the "Company")
Operational Update: Zambia
The Board of Frontier (AIM Ticker: FRI), the AIM-traded international oil and gas exploration company with assets in Oman, Zambia and Namibia is pleased to provide shareholders with an operational update on its activities in Zambia.
Frontier's Block 34 ("The Block") located in the Kafue Trough in southwestern Zambia, covers an area of approximately 6,427 square kilometers. A four year exploration licence was granted on 25 March 2011. Frontier is the operator with a 100% working interest while Metprosol, a local Zambian company, has a 10% carried interest in the licence.
The Company has now received the final results from the recently completed land gravity survey on the Block. Two profiles with a combined length of 210 kilometers were acquired during late June and early July 2013 and have now been modelled and interpreted by Earthfield Technology, specialists in gravity and magnetic data acquisition, modelling and interpretation, based in Houston, Texas. The modelling was undertaken to provide information on the depth to basement and the corresponding estimate of the potential sediment thickness on the Block in addition to providing a geological explanation for the various gravity responses (highs and lows) seen on the raw data.
Results of the modelling confirmed that an observed gravity low is most likely associated with a sediment accumulation much thicker than originally interpreted from the older regional gravity data over the area. This sedimentary section is estimated to be of similar thickness to the section seen in the rifts that are currently being successfully explored for hydrocarbons along the East African Rift System in Kenya, Uganda and most recently Ethiopia.
One of the more distinguishing characteristics on the two profiles is a prominent gravity high response seen towards the centre of the Block. This feature has been interpreted as an intra-rift basement high. At the southern end of the Block significant breaks in the gravity data indicate the presence of rift bounding faults.
The results and interpretation of the gravity profiles combined with the results of source rock analysis on a core sample from shallow well GS 61 located on the Block has greatly improved the Company's understanding of the potential prospectivity of this Block. Frontier is now actively planning the next phase of the exploration program which may include the acquisition of additional gravity and/or magnetic data and soil gas analysis over the entire Block.
Commentating on today's update, Jack Keyes, Frontier's CEO said "The results of the land gravity survey in Zambia are very encouraging. By integrating these results with our existing understanding of the area Frontier can now plan the next phase of our exploration activity in this emerging rift system".
Enquiries:
Frontier Resources International Plc | |
Jack Keyes, Chief Executive Officer | Tel: +1 (713) 962 0887 |
Barbara Spurrier, Finance Director | Tel: 020 3475 8108 |
Beaumont Cornish Limited (Nomad) | Tel: 0207 628 3396 |
Michael Cornish / Roland Cornish | |
Beaufort Securities Limited (Broker) | Tel: 020 7382 8300 |
Christopher Rourke / Guy Wheatley | |
Yellow Jersey PR Limited (Financial PR) | |
Dominic Barretto | Tel: +44(0) 7768 537 739 |
Anna Legge | Tel: +44 (0) 7747 788 221 |
A copy of this announcement is available from the Company's website www.friplc.com
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.
The Company's shares were admitted to AIM of the London Stock Exchange on 5 July 2013.
ENDS