New Drilling Campaign starts at Mtsare Khevi Gas Complex In Georgia
Frontera Resources Corporation (London Stock Exchange, AIM Market – Symbol: FRR), an independent oil and gas exploration and production company (“Frontera” or the “Company”), today announced that it has begun the start of a new drilling campaign at the Mtsare Khevi Gas Complex in the country of Georgia.
Location construction for well #32a will commence shortly and drilling is expected to commence during the month of August. The well will take approximately fifteen days to reach total depth. Well #32a is planned to be drilled to a depth of approximately 400 meters and is designed to continue to explore and expand the identified gas potential associated with the Mtsare Khevi Gas Complex.
Gas production operations have continued since commencement in April and are delivering gas to Georgia’s national grid via the Company’s gas gathering/processing facilities and associated 14 kilometer transportation system. This system accommodates gas production at a planned rate of approximately two million cubic feet per day of gas.
Concurrent with ongoing production and new drilling operations, extensive geologic studies continue across the Mtsare Khevi Gas Complex. These ongoing studies include the integration of current gas production performance; historical geologic, geophysical and engineering databases; new geologic field work and outcrop sampling, as well as associated laboratory analysis. To date, study work reveals extensive conventional and unconventional (Maykop shales) potential associated with the Mtsare Khevi Gas Complex. This work is expected to conclude during the third quarter of this year, with independent assessment to commence later in the fourth quarter of 2014.
The Mtstare Khevi Gas Complex is an area of approximately 80 square kilometres and encompasses gas reservoir targets found between 300 metres and 5,000 metres in depth. Based on Frontera’s internal estimates, analysis has revealed significant gas potential throughout this area of up to approximately 1.2 tcf of gas in place and up to approximately 700 bcf of recoverable gas.
Source: Frontera Resources