Frontier Resources International Operational Update, Namibia (5003U)
July 30 2015 - 2:02AM
UK Regulatory
TIDMFRI
RNS Number : 5003U
Frontier Resources International
30 July 2015
For immediate release
30 July 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 part of its ongoing strategy to develop a comprehensive,
regional understanding of the Owambo basin, Frontier recently
completed a data exchange of high resolution airborne magnetic data
and the associated technical interpretation, over a large area
covering nearby blocks. The data interpretation was undertaken by
Exploration Technology Inc. in Houston, Texas, and has determined
the sediment thickness in the area by calculating and mapping the
depth to the basement rocks. It has also identified regional
geologic trends in the subsurface. This technology, when integrated
with gravity and seismic data, was used successfully by Frontier in
the identification of drillable structures on its block in
Oman.
These new data are now being integrated with Frontier's existing
database over Blocks 1717 and 1817 that includes magnetic, gravity
and seismic data. High resolution magnetic and gravity data are
very useful tools in helping identify anomalous features seen on
the seismic, especially in sparsely drilled areas such as this
which, from the evidence of the previously acquired soil gas survey
could contain very large volumes of undiscovered hydrocarbons.
CEO Jack Keyes says: 'These additional data will add to our
already significant knowledgebase of the Blocks and further assist
with the identification of areas requiring additional seismic data
prior to drilling."
Enquiries:
Frontier Resources International
Plc
Neil Herbert, Chairman Tel: 0207 628 3396
Jack Keyes, Chief Executive Tel: +1 (281) 920 0061
Officer
Beaumont Cornish Limited Tel: 0207 628 3396
(Nomad)
Michael Cornish
Beaufort Securities Limited Tel: 0207 382 8300
(Broker)
Zoe Alexander
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's principal
exploration projects are in Oman 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.
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
END
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