Search Share Prices
Frontera upbeat after first well drilled at Taribani
Europe-focussed oil and gas exploration and production company Frontera Resources Corporation announced the successful completion of drilling operations at the T-45 well on Monday.
The AIM-traded firm said T-45 was the first well of the three-well drilling campaign at its Taribani complex, situated within the block 12 license in Georgia.
As it had announced in late February, the well had been deepened to a vertical depth of 2700 metres into the Eldari formation.
Drilling confirmed the presence of 98.9 metres of combined pay interval of target zones nine, 14 and 15.
In addition to those target zones, a 14.9 metre combined pay interval has been confirmed in Zone 13.
"The company confirms that it has observed a number of oil and gas shows during drilling operations," the board said in its statement.
Cement bond logs also confirmed excellent cement job integrity around the casing.
"Rig down will start immediately and the drilling rig will be moved to the Dino-2 well location for commencing the well sidetracking/drilling operations as soon as the rig up is completed.
"Once [the] drilling rig is released from the T-45 well location, wireline and pressure pumping companies will be mobilised to the site for perforation and mechanical stimulation of the target zones with further well testing."