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Frontera Resources Mobilises the Drilling Rig to T-45 Well

Source: www.gulfoilandgas.com 1/10/2018, Location: Asia

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Frontera Resources Corporation (FRR), the European-focused oil and gas exploration and production company, is pleased to announce that it has received the notification from the Company's drilling contractor, Gulf Drilling Supply FZY, regarding the mobilisation of the drilling rig to the T-45 well.

Gulf, the Dubai-based international drilling services company, has notified the Company that on 15 January 2018 it will commence mobilisation of the drilling rig from Gulf's base in western Azerbaijan to the T-45 well site, in order to start the Company's previously announced three-well drilling campaign in the Taribani field, situated inside the 800 km2 Taribani complex area, located in onshore Block 12, Georgia.

The Company has decided to start its three-well drilling campaign with the well deepening at T-45, because it is an easier operation compared to the well sidetracking at Dino-2 and T-39. It is anticipated that Gulf's drilling rig will begin operations at T-45 at the end of January 2018.

The well T-45 will be the first well to be drilled and extended (by way of deepening) to a target depth of 2700m. Zones 9, 14 and 15 of the Eldari reservoir will be stimulated and produced together in a similar manner as previously announced on 10 October 2017 in respect of the well Dino-2, which will now be the second well to be drilled (sidetrack) to a target depth of 2700m, with Zones 9, 14 and 15 of the Eldari reservoir stimulated and produced together. Drilling (sidetrack) operations at the well T-39 are planned to commence immediately after the completion of the drilling (sidetrack) operations at the well Dino-2. The well T-39 will be drilled to a target depth of 2800m, and Zones 9, 14, and 15 of the Eldari reservoir will be stimulated and produced together in a similar manner as in the wells T-45 and Dino-2.

Testing of the well T-45 is expected to commence in late February. Testing of the well Dino-2 is expected to commence at the end of March. Testing of the well T-39 is expected to commence at the end of April.

According to the estimates produced by Netherland, Sewell and Associates, Zones 9, 14 and 15 in the Taribani complex are estimated to have 689 million barrels of oil in place with 103.5 million barrels considered to be recoverable.

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