Frontera Resources has announced that the drilling services contract for wells at the Taribni complex has now been entered into with Gulf Drilling Supply FZY.
The Company added:
"The cementing services contract has been entered into with Baker Hughes Services International LLC, a US-based international oil service company, which will provide cementing services during drilling operations at Taribani wells.
"As previously announced, the sidetracking/drilling operations at Dino-2 well in Taribani Complex is scheduled to commence in January 2018. This will be followed by T-45 well where deepening/drilling operations are scheduled to commence in March 2018. Thereafter, the operations will move to T-39 well, the third well in Taribani Complex, to be deepened/drilled.
"All three wells at the Taribani Complex (Dino-2, T-45 and T-39) will be drilled to a target depth of 2700m and Zones 9, 14 and 15 of the Eldari reservoir will be stimulated and produced together.
"According to the estimates produced by Netherland, Sewell and Associates, Zones 9, 14 and 15 in Taribani Complex are estimated to have 689 million barrels of oil in place, with 103.5 million barrels considered to be recoverable."
At 1:42pm: (LON:FRR) Frontera Resources Corporation share price was +0.01p at 0.55p