Microsoft 6th Annual Global Energy Forum

Frontera Resources Corporation daily production increases 30% in Shallow Fields Production Unit

This increase is primarily attributed to implementation of pilot projects that have formed the basis for aggressive new drilling campaigns that are now being implemented across the four undeveloped or underdeveloped oil fields that comprise the Shallow Fields Production Unit. 

Published Aug 8, 2008

Frontera Resources Corporation today announced since the start of the second quarter of 2008, average daily production increased approximately 30% in Shallow Fields Production Unit, Block 12, Georgia. 

Since the start of the second quarter of 2008, average daily production increased approximately 30% when compared to the first quarter of 2008, with peak production during the month of July ranging from 95 bbls per day to 130 bbls per day from the Unit.  This increase is primarily attributed to implementation of pilot projects that have formed the basis for aggressive new drilling campaigns that are now being implemented across the four undeveloped or underdeveloped oil fields that comprise the Shallow Fields Production Unit.  As previously reported, oil sales during the second quarter resulted in $2.6 million in revenue from this business unit, with current produced oil inventories expected to generate comparatively larger revenues during the third quarter of 2008.   

Mirzaani Field:  Throughout the second quarter of 2008, production operations have continued from multiple oil and gas bearing reservoirs situated within the Shiraki formation at depths of 400 meters to 1,200 meters.