Frontera Resources Corporation has increased the gas resource estimate of its operations in eastern Georgia more than tenfold, compared to previous estimates.
In April this year, Frontera revealed that independent consulting firm Netherland, Sewell & Associates confirmed combined prospective natural gas resources of 12.9 trillion cubic feet of gas in place, with as much as 9.4 trillion cubic feet of recoverable prospective natural gas resources, at the Mtsare Khevi Gas Complex and Taribani Field Complex, which were both combined to form the South Kakheti Gas Complex. In addition to gas resources previously identified for subsets of this combined area, Frontera’s ongoing work recently concluded new estimation of as much as 135 trillion cubic feet of gas in place from reservoir targets found between 984 feet and 16,404 feet in depth. Following Frontera’s considerable resource upgrade, an independent assessment of the company’s new internal estimates is now underway.
Steve C. Nicandros, chairman and CEO of Frontera, commented in a company statement:
“Our ongoing investments in Georgia have continued to reveal the emergence of what we believe to be a world class gas play with the identification of the South Kakheti Gas Complex. Much like the recent evolution of similarly prolific gas plays in the United States that have transformed the USA’s energy independence trajectory, our results continue to indicate that Georgia has the natural gas resources to follow a similar path. We believe that our ongoing work will further serve to establish Georgia’s domestic energy independence in the years to come and also make it a strategic supplier of gas to Turkish and European consumption markets.”
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