GREY:FONTF - Post by User
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Fireflyingon Feb 28, 2015 7:12pm
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Post# 23476437
If Carlsberg did RNS.....
If Carlsberg did RNS.....RNS Number : 4395Z
Frontera Resources Corporation
11 December 2014
Frontera Resources Corporation (AIM: FRR), an independent oil and gas exploration and production company, today announces operations progress at its Mtsare Khevi Gas Complex and Taribani Field Complex in Georgia, as well as a general operations update for other key areas of its portfolio.
Mtsare Khevi Gas Complex:
- Well #34 successfully drilled as ongoing drilling campaign continues.
- Expansion of gas processing/sales facilities.
- Independent assessment of internal 11 TCF gas-in-place resource estimate in progress.
Taribani Field Complex:
- Drilling preparation associated with Varang Exploration farmout in progress.
- Existing well workover/frac-recompletion campaign advancing.
- Internal study identifies new 9 TCF gas-in-place resource associated with deep horizons of Taribani Field. Independent assessment in progress.
Gas:
“…the Company intends to increase system capacity to approximately 7 million cubic feet per day of gas during Q1 of 2015.”
Gas CPR:
“Independent assessment of Frontera's internal estimates is underway and expected to be completed during Q1 of 2015.”
“Taribani field (18 billion barrels OOIP):
New Drilling: Planning and procurement are in progress related to commencement of operations associated with Phase I of the Varang Exploration farmout agreement. Operations are expected to commence during Q1 of 2015.”
“As a result of this work, new gas-in-place resources associated with the Taribani Field have been identified and estimated internally to be as much as approximately 9 tcf from reservoir targets found between 3,000 metres and 5,000 metres in depth. Independent assessment of Frontera's internal estimates are currently in progress and are expected to be completed during Q1 of 2015.”
It’s all happening in Q1 2015 i.e. in the next month.....