Search Share Prices
Frontera Resources eyes January date for Georgian drill operations
AIM-quoted oil and gas exploration and development company Frontera Resources received notification from its drilling contractor that mobilisation of the drilling rig to its T-45 well site would begin on 15 January.
Frontera, which had previously announced a three-well drilling campaign across the Taribani field in onshore Georgia, decided to start the campaign by deepening the well at T-45 due to the project being easier than sidetracking the Dino-2 and T-39 wells. T
Gulf expected drill rig operations to have begun by the end of January, with testing at T-45 to come in late February, followed by Dino-2 in March and T-39 by the end of April.
Estimates provided by Netherland, Sewell and Associates claimed that zones nine, fourteen and fifteen in the Tarbani complex held roughly 689m barrels of oil in place, 103.5m of which had been considered recoverable.
As of 0920 GMT, shares had slipped 1.85% to 0.53p.