Frontera Resources Announces Operations Update at the Taribani Field Unit

Source: www.gulfoilandgas.com 5/1/2008, Location: Asia

Frontera Resources Corporation announced an update of its operations at the Taribani Field Unit within Block 12, Georgia. During the last week of April, operations to apply artificially induced fractures to objective reservoirs within the Dino #2 well as part of the continuation of Zone 9 development operations at the Taribani Field have been successfully completed. A ten-meter oil-producing reservoir interval was hydraulically fraced at a depth of approximately 2,300 meters. Frac completions are designed to enhance well flow-rates and ensure sustainability of production. Production tubing is currently being installed in the well after which it will be placed into controlled production testing over the next thirty to sixty days in order to determine optimal sustainable flow rates.

The workover rig and frac equipment will now be mobilized a short distance within the Taribani Field from the Dino #2 location to the T-#45 location for a frac pac completion in Zone 9 at a depth of approximately 2,400 meters.

In addition, plans to drill the Taribani South #1 well have been rescheduled. It is now planned to drill this well using the new rig that is currently being procured for the Lloyd #1 well. It is anticipated that drilling would commence during the third quarter of 2008 following the completion of Lloyd #1 operations. The Taribani South #1 well is designed to be completed in Zone 9 at a depth of approximately 2,200 meters, and will also test Zones 14 and 15 at depths of approximately 2,400 meters and 2,500 meters, respectively. Situated approximately 100 meters up-dip to the Dino #2 and T-#45 wells and approximately 300 meters up-dip to the lowest known oil in Zone 9, this well will be the first to be drilled near the crest of the Taribani Field structure and is expected to further delineate the size of the field.


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