21st May 2018 14:37
LONDON (Alliance News) - Frontera Resources Corp said Monday its Dino-2 well in Georgia naturally flowed light, sweet crude oil.
Simulation and testing of zones 9, 14 and 15 at Dino-2 well, the second of a three well drilling campaign, commenced earlier in May.
The well naturally flowed light, sweet crude oil at a stabilised flow rate of 315 barrels of oil per day. The company intends to continue testing flow at zones 14 and 15.
"As previously announced, in addition to these target zones 9, 14 and 15, a 20 metre pay interval has been confirmed in Zone 13 and the company is also considering the perforation and stimulation of zone 13 in addition to the original zone 9, 14 and 15 targets," the company said.
Frontera shares were trading up 4.8% Monday afternoon at 0.47 pence each.
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