News listings

energy-pedia development and production

Georgia flagGeorgia

Europe / Caspian / CIS >>> Georgia

Georgia: Frontera Resources provides update on the Taribani and Mtsarekhevi Gas Complex wells in Georgia Block 12

13 Feb 2018

Photo - see caption

AIM-listed Frontera Resources has announced that the service contract has been executed with the service company to provide pressure pumping equipment and services for stimulation of Zones 9, 14 and 15 in the Taribani wells T-45, Dino-2 and T-39, and for the stimulation of Zone F in the Mtsarekhevi Gas Complex's well Ud-2, located in onshore Block 12, Georgia.  Preparations are currently underway to commence the equipment mobilisation. As previously announced, Zones 9, 14 and 15 of each of the wells T-45, Dino-2 and T-39 will be stimulated and produced together.   

Drilling operations at T-45 well are progressing as planned and the Company looks forward to updating the market in due course.

Photo - see caption

The Company also announces that, further to the completion of the fundraising announced on 12 February 2018, an institutional investor has subscribed for 331,858,407 ordinary shares at a price of 0.452 pence per ordinary share raising a further £1.5 million for the Company. As previously announced, the Company's operations at T-45, Dino-2 and Ud-2 were funded and underway. The new funds raised are to further advance the Company's work program operations at the Taribani and Mtsarekhevi complexes which includes the drilling and stimulation program at well T39 as planned. Under the terms of the subscription, the subscriber has agreed to a 6-month lock-in period for the subscribed New Ordinary Shares.

Application will be made for the New Ordinary Shares to be admitted to trading on AIM, which is anticipated to occur on or around 19 February 2018. The New Ordinary Shares will rank pari passu with the existing ordinary shares of the Company.

Original article link

Source: Frontera Resources

Bookmark and Share

A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.

Subscriber Only Deals

Current deals: 1651
Completed deals: 5081

Company Profiles

Current Company Profiles: 2618

Corporate Activity

Current Corporate Activity articles: 3168

Companies Looking

Current number of articles: 423

Company Sales

Current Company Sales articles:1309


Current Geostudies articles: 603

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...

energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...

energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...


Subscribe to the FREE
energy-pedia Daily Newsletter

SLR Consulting logo
Union Jack Oil 149
EP Consult Energies
count geophysics
KL Publishing
Rose & Assocs 149
Lynx Information Systems
RSK Logo 149
Government of South Australia
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans

Tel: +44(0)1727 822675