TIDMFRR

RNS Number : 3368H

Frontera Resources Corporation

12 March 2018

12 March 2018

Frontera Resources Corporation

("Frontera" or "the Company")

T-45 update - Completion of Drilling Operations

Frontera Resources Corporation (AIM: FRR), the European focused oil and gas exploration and production company, is pleased to announce the successful completion of the drilling operations at the T-45 well, the first well of the three-well drilling campaign at the Company's Taribani complex, situated within the Block 12 license in Georgia.

As previously announced by the Company on 27 February 2018, the well has been deepened to a vertical depth of 2700m into the Eldari formation. Drilling confirmed the presence of 98.9 m of combined pay interval of target Zones 9, 14 and 15. In addition to these target Zones, 14.9m 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.

Cement Bond Logs 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 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.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Enquiries:

 
Frontera Resources           (713) 585- 3216 
Zaza Mamulaishvili 
info@fronteraresources.com 
 
  Cairn Financial Advisers 
  LLP                        +44 (0) 20 7213 0880 
Jo Turner / Liam Murray 
WH Ireland Limited           +44 (0) 20 3411 1880 
James Joyce / Alex Bond 
Yellow Jersey                +44 (0) 203 735 8825 
Tim Thompson 
Harriet Jackson 
Henry Wilkinson

Notes to Editors:

About Frontera Resources Corporation

Frontera Resources Corporation is an independent, international oil and gas exploration and production company whose strategy is to identify opportunities and operate in emerging markets in Eastern Europe around the Black Sea. Frontera Resources Corporation shares are traded on the London Stock Exchange, AIM Market - Symbol: FRR.

For more information, please visit   www.fronteraresources.com  .

1. Information on Resource Estimates: The independent contingent and prospective resources estimates contained in this announcement were determined by the independent consulting firm of Netherland, Sewell & Associates (NSA) in accordance with the definitions and guidelines set forth in the 2007 Petroleum Resources Management System (PRMS) adopted by the Society of Petroleum Engineers (SPE). Dustin Aro, Frontera's Vice President, Well Completion and Stimulation, is the qualified person who reviewed and approved the technical information contained in this announcement on behalf of Frontera Resources. Mr. Aro has extensive experience in the oil and gas industry and holds a Bachelor of Science in Engineering and a Bachelor of Science in Business Administration from Michigan Technological University.

2. This release may contain certain forward-looking statements, including, without limitation, expectations, beliefs, plans and objectives regarding the transactions, work programs and other matters discussed in this release. Exploration for oil is a speculative business that involves a high degree of risk. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: risks inherent in oil and gas production operations; availability and performance of needed equipment and personnel; the Company's ability to raise capital to fund its exploration and development programs; seismic data; evaluation of logs, cores and other data from wells drilled; inherent uncertainty in estimation of oil and gas resources; fluctuations in oil and gas prices; weather conditions; general economic conditions; the political situation and relations with neighboring countries; and other factors listed in Frontera's financial reports, which are available at www.fronteraresources.com. There is no assurance that Frontera's expectations will be realized, and actual results may differ materially from those expressed in the forward-looking statements.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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March 12, 2018 03:00 ET (07:00 GMT)

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