Frontera begins workover at Georgian well

AIM listed oil and gas group Frontera Resources said on Wednesday it had begun mobilisation of a work-over rig to its Ud-2 well on the Mtsare Khevi onshore gas complex in Georgia.

Block 12 which covers 5,060 square kilometres of the Kura Basin in eastern Georgia had already proven it contained significant gas discoveries in the Gareju and Maykop reservoirs, owing to those discoveries the black had existing oil and gas export pipelines and distribution infrastructure in place.

Frontera said the Ud-2 well had already been drilled by a previous operator but resource estimates undertaken by Texas firm Netherland Sewell suggested the resource still contained between 6.15trn cubic feet of recoverable gas.

The work-over rig will clean the well, retrieve the packer and set the bridge plugs at 3,340 metres, with work-over operations set to be completed by 30 September and well testing to begin in October.

As of 1100 BST, shares had moved 0.13 of a penny higher to 17.50p.