Last 0.83 GBp
Change Today +0.01 / 1.23%
Volume 1.5M
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frontera resources corp (FRR) Snapshot

Open
0.83 GBp
Previous Close
0.82 GBp
Day High
0.83 GBp
Day Low
0.83 GBp
52 Week High
09/25/14 - 1.84 GBp
52 Week Low
05/30/14 - 0.51 GBp
Market Cap
23.3M
Average Volume 10 Days
22.3M
EPS TTM
-0.0023 GBp
Shares Outstanding
2.8B
EX-Date
--
P/E TM
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Dividend
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Current Stock Chart for FRONTERA RESOURCES CORP (FRR)

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frontera resources corp (FRR) Details

Frontera Resources Corporation, together with its subsidiaries, is engaged in the exploration, production, and development of oil and gas projects in the Republic of Georgia. The company focuses on the development of reserves in known hydrocarbon-bearing basins. It holds a 100% working interest in Block 12 covering an area of approximately 5,500 square kilometers located in the Kura Basin in eastern Georgia. The company also exports oil to international markets through the Georigan Black Sea port of Batumi. Frontera Resources Corporation was founded in 1996 and is headquartered in Houston, Texas.

Founded in 1996

frontera resources corp (FRR) Top Compensated Officers

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frontera resources corp (FRR) Key Developments

Frontera Resources Corporation Provides Operations Progress at its Mtsare Khevi Gas Complex and Taribani Field Complex in Georgia, as Well as General Operations Update

Frontera Resources Corporation announced operations progress at its Mtsare Khevi Gas Complex and Taribani Field Complex in Georgia, as well as a general operations update for other key areas of its portfolio. Mtsare Khevi Gas Complex: well #34 successfully drilled as ongoing drilling campaign continues; expansion of gas processing/sales facilities; independent assessment of internal 11 TCF gas-in-place resource estimate in progress;  Taribani Field Complex: drilling preparation associated with Varang Exploration farmout in progress; existing well workover/frac-recompletion campaign advancing; internal study identifies new 9 TCF gas-in-place resource associated with deep horizons of Taribani Field. Independent assessment in progress. Following updates released during September, continuous drilling operations and gas production operations have continued at the Mtsare Khevi Gas Complex. After some delay associated with slower than anticipated drilling conditions, well #34 has completed drilling and is currently being prepared to be placed into production. The well successfully encountered approximately 200 meters of gross objective intervals from depths between 120 meters to 320 meters. Production testing is expected to yield similar results to recently completed well #32a (700+ Mcf per day) before the well is connected to Frontera's gas gathering and sales infrastructure before the end of December. Continuous drilling operations are now planned to continue at the next location, well #37, expected to commence in January. In addition, a second rig is also scheduled to be added to operations in January. It will focus on adding gas production from unperforated/behind-pipe gas-bearing intervals that have been identified throughout the existing well inventory.  These parallel operations will continue to provide enhanced gas-production/revenue generation from the area and will serve to further delineate gas reserves and associated upside potential for the Mtsare Khevi Gas Complex. The Mtstare Khevi Gas Complex is an area of approximately 140 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 11 tcf of gas-in-place and up to approximately 9 tcf of recoverable gas. Independent assessment of Frontera's internal estimates is underway and expected to be completed during the first quarter of 2015. Taribani Field Complex: new drilling: planning and procurement are in progress related to commencement of operations associated with Phase I of the Varang Exploration farmout agreement. Operations are expected to commence during the first quarter of 2015. As previously announced, Phase I calls for the completion of three wells (estimated to be approximately USD 17 million) over a period of 18 months. These wells are designed to continue exploitation of the Taribani Field's main reservoir objectives, as well as other associated horizons situated within a potentially prospective 1,000 meter geologic column situated between 2,000 meters and 3,000 meters in depth. Specific operations will include the re-entry, sidetrack and frac-completion of the Niko #1 well and side track of the T-#31 and T-#16 wells in order to apply frac-completions to Zones 14 and 15. Based on the Company's reservoir performance modeling, it is anticipated that these wells can achieve a combined daily production rate of 1,600 bopd per day. At the Mirzaani Field, the company has planned a 5 well drilling campaign with the intention of exploiting the undeveloped northwestern portion of the field, with individual wells each believed to be able to deliver approximately 100 bopd. Efforts are in progress to commence this program in 2015. The Mirzaani Field is located in the eastern portion of the Shallow Fields Production Unit amidst a complex of several existing oil fields. Discovered in 1932, the Mirzaani Field has historically produced oil from a small developed portion of the field but contains extensive undeveloped and underdeveloped areas. After acquiring approximately 100 kilometres of new 2D seismic data as part of an effort to re-map and identify new potential associated with the field, Frontera drilled the Mirzaani #1, #2 and #5 discovery and appraisal wells, which were the first wells to be drilled in the field since the Soviet-era.

Frontera Resources Corporation, Annual General Meeting, Dec 18, 2014

Frontera Resources Corporation, Annual General Meeting, Dec 18, 2014., at 11:00 Central Standard Time. Location: 3050 Post Oak Boulevard.

Frontera Resources Corporation Reports Unaudited Consolidated Financial Results for the First Half Ended June 30, 2014

Frontera Resources Corporation reported unaudited consolidated financial results for the first half ended June 30, 2014. Revenue - crude oil and gas sales was $3,263,214 compared to $3,146,390 a year ago. Loss from operations was $3,379,965 compared to $3,742,498 a year ago. Net loss was $5,628,821 compared to $5,645,990 a year ago. Net cash used in operating activities was $539,624 compared to $2,191,766 a year ago. Investment in oil and gas properties was $594,681 compared to $194,372 a year ago. Investment in property and equipment was $2,677,162 compared to $197,974 a year ago.

 

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