Frontier Resources International Operational Update: Namibia (6550P)
June 09 2015 - 8:09AM
UK Regulatory
TIDMFRI
RNS Number : 6550P
Frontier Resources International
09 June 2015
9 June 2015
FRONTIER RESOURCES INTERNATIONAL PLC
("Frontier" or the "Company")
Operational Update: Namibia
The Board of Frontier (AIM Ticker: FRI), the AIM - traded
international oil and gas exploration company with focus on the
Middle East and Southern Africa, is pleased to provide shareholders
with an operational update on its activities in Namibia.
Frontier's Blocks 1717 and 1817, located in the Owambo Basin in
northern Namibia, cover an area of approximately 18,933 square
kilometers. Frontier is operator with a 90% working interest while
NAMCOR, the Namibian National Oil Company, has a 10% carried
interest in the license.
As previously announced, the results of the soil gas survey
conducted in 2013 confirmed the presence of one or more oil
generating source rocks within the license area. These results have
been integrated with a recently completed study to determine the
thickness of sediments within the license and enabled the company
to further focus on areas that appear to be most promising for the
accumulation and trapping of hydrocarbons. With the assistance of
its local contractor Pioneer Minerals, Frontier has completed an
in-field reconnaissance survey and plans to begin acquiring and
analysing additional soil gas samples over these prioritised areas.
These new soil gas data will be used to further assist in
delineating potential oil-prone areas while the Company waits for a
seismic crew to become available.
Enquiries:
Frontier Resources International Plc
Neil Herbert, Chairman Tel: 0207 628 3396
Jack Keyes, Chief Executive Officer Tel: +1 (281) 920 0061
Beaumont Cornish Limited (Nomad) Tel: 0207 628 3396
Michael Cornish
Beaufort Securities Limited (Joint Broker) Tel: 0207 382 8300
Saif Janjua
About Frontier:
Frontier Resources International Plc, which was founded in April
2008, is focused on onshore oil and gas exploration and development
in the Middle East and Southern Africa where the Company has
technical knowledge and expertise. The Company currently has three
exploration projects in Oman, Zambia and Namibia.
Frontier's immediate objectives are to continue developing its
core exploration projects towards first production particularly in
Oman where the Company's knowledge base is most advanced because of
the proximity to producing oil and gas fields and the availability
of existing seismic and well data.
The Company is incorporated in the United Kingdom with its
registered office in London. It also maintains a technical and
commercial office in the United States in Houston, Texas.
Additionally, to support its regional operations in Southern Africa
and the Middle East, offices are maintained in Namibia, Zambia and
Oman.
This information is provided by RNS
The company news service from the London Stock Exchange
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