Frontera reports commercial hydrocarbon shows at Georgian well

LONDON -- Frontera Resources announced the completion of drilling operations at the Dino-2 well, the second of the three-well drilling campaign at the Taribani complex, within Block 12 license in the Republic of Georgia, eastern Europe.

The well was sidetracked from an existing wellbore and drilled to a vertical depth of 2,700 m into the Eldari formation. Drilling and wireline logging data confirmed the presence of 78.8 m of combined pay intervals in three of the target zones. Cement bond logging indicated a consistent bond across all zones of interest which allows for effective containment of fracturing stimulation. The current bottom hole pressures at Dino-2 are calculated between 6,800 and 7,200 psi.

The company confirms that it observed a number of oil and gas shows during drilling operations:

Formation gas flow, mud weight reduction and oil at surface while drilling through 2445-2460m.

Formation gas flow and oil over shakers while drilling through 2520-2540m.

Increased connection gas and formation gas recorded during drilling past 2570-2600m.

Elevated background and connection gas during drilling operations.

After setting casing and prior to pumping cement, circulation from the bottom of the well caused oil flows at the surface and increased gas presence in the drilling fluids resulting in a mud weight reduction from 1.88 SG to 1.20 SG.

Rigging down started immediately and the rig will is being moved to the T-39 well location for sidetracking/drilling operations.

Once the rig is released from the Dino-2 well location, wireline and pressure pumping equipment will be mobilized to the site for perforation and mechanical stimulation of the target zones with further well testing.