Construction of a new drilling location for the second of three planned Zone 9 development wells this year at Taribani Field (T-#45) is now complete.
Construction of the drill site location for the Lloyd #1 well, as well as 6.5 kilometers of new road leading to it at the Basin Edge Play Unit "C" Prospect, is now complete. A drilling rig is being mobilized and drilling operations are expected to commence during the second half of August.
Steve C. Nicandros, President and Chief Executive Officer, commented:
"During the month of July, we continued to responsibly progress towards the imminent commencement of new drilling operations at both the Basin Edge 'C' Prospect and the Taribani Field Unit. While we have been very eager to commence down-hole operations as soon as possible at the Taribani Field Unit, we found it necessary to take additional time to conduct appropriate inspections and require associated repairs to the mobilized drilling equipment prior to accepting it for our operations. The high demand for equipment in today's marketplace is such that proper diligence is necessary to ensure that Frontera will have safe and uninterrupted development operations in the months ahead.
At the Basin Edge 'C' prospect, important milestones have been achieved with the completion of the Lloyd #1 drill site location as well as a new road to the location that is situated in a relatively remote area of Block 12. A second drilling rig is currently enroute to the site and drilling is expected to commence during the second half of August. With two rigs running simultaneously in these very prospective business units, the rest of this year will be a very exciting time for our company."
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