Zaza Mamulaishvili, CEO at Frontera Resources FRR told London South East that after a successful well test programme in the Taribani Field Block 12: 'We are going to move into a field development phase as a result of this campaign'.
Frontera have just successfully completed the drilling of wells Dino-2, T-45 and T-39. 'As we speak we are testing those wells, we are flowing both oil and gas from those wells, and I'm very, very excited by what we see.'
'We have improved drilling practices, cementing practices, and Zone 19 turns out to have good rock properties with better porosity and permeability than Zones15/14 and 9 and doesn't appear to need stimulation'.
Zone 19 wells are going to be very profitable, because after recovering well costs of 3.3 million dollars in the first 8 months or so we expect them to deliver 4/5 million dollars worth of oil every year as a profit.
T-39 is currently producing 250 bpd and 350,000 cubic feet of gas pd. The numbers for T-45 and Dino-2 have yet to be calculated.