Georgian Govt OKs Mtsare Khevi Pipeline for Frontera
by Frontera Resources Corp.
|Wednesday, March 13, 2013
Frontera Resources Corp. announced that it has received approval to proceed with the installation of the 5-mile (8-kilometer) pipeline and related facilities within the Mtsare Khevi field from the Georgian government. As previously announced, equipment required for the gas pipeline has been procured, mobilized, and stacked in the field and in key staging areas. First gas production is now expected within 120 days. The infrastructure will accommodate production from currently shut-in wells, and the Company is targeting production of approximately 2 million cubic feet per day of gas (57,000 cubic meters per day).
The Mtstare Khevi Field is situated within a larger play area of approximately 31 square miles (80 square kilometers) referred to as the Mtsare Khevi Gas Complex and encompasses gas targets found between 984 and 16,404 feet (300 and 5,000 meters) in depth. Based on Frontera's internal estimates, analysis has revealed significant gas potential throughout this area of up to approximately 1.2 trillion cubic feet of gas in place (28 billion cubic meters) and up to approximately 700 billion cubic feet of recoverable gas (19.8 billion cubic meters). An integrated geologic study, including data from a number of existing wells within the area such as the V-#18 well, previously referenced in the Company's Jan. 31, 2012 announcement, is currently in progress to better understand and define the extent of this potential throughout the greater Mtsare Khevi Gas Complex.
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