Frontier Resources International plc
LSE : FRGP

February 06, 2012 02:00 ET

Namibia Progress

                                                                                       6 February 2012
                                                                                          GB00B3K9ML24
                                                                                                      
                                                                                                      
                                 Frontier Resources International Plc
                                     ("Frontier" or the "Company")

                                           Namibia Progress

Frontier  Resources  International Plc, the Plus-quoted  (ticker:  FRGP)  international  oil  and  gas
exploration  and  production company with producing assets in the U.S.A. and  exploration  acreage  in
Zambia  and  Namibia,  is pleased to provide the following operational update  on  its  activities  in
Namibia.

Highlights:

Since  the signing of the Petroleum Agreement over Blocks 1717 and 1817 in the Owambo Basin in October
2011, progress has been made as follows:

*       Petroleum  Exploration Licence #0049 over Blocks 1717 and 1718 in the Owambo  Basin  has  been
        issued effective 20 January 2012
    
*       Frontier has gathered the available seismic data over both Blocks
    
*       Frontier  has  completed  the first phase of re-processing of these older  seismic  lines  and
        commenced the initial structural interpretation of the reprocessed data
    
*       Peace  River Group LLC ("PRG") has been retained to provide technical services for the Namibia
        acreage

The  Petroleum  Exploration  Licence #0049 over Blocks 1717 and  1817  in  the  Owambo  Basin,  issued
effective  20 January 2012, is valid for an initial two year period and subsequently available  to  be
renewed. The licence has been issued under the Petroleum Exploration and Production Act 1991, and  the
terms of the Petroleum Agreement dated 17 October 2011.

Frontier has commenced re-processing of the old seismic data on these Blocks. The data was recorded by
Teledyne  Geophysical  in 1969 and 1970 using a Vibroseis energy source. As  only  paper  prints  were
available, the data was scanned into digital format. While the absence of field tapes severely limited
the level of re-processing that was possible, the data is of good quality and a good interpretation of
the structural geology of the Blocks is expected.

PRG,  based  in  Houston,  Texas,   provides technical services for new-venture  exploration  projects
focused  on Africa and the Middle East.  PRG was founded in January 2007 with core management provided
by  a  group  of  highly  experienced  geoscientists  under  the  leadership  of  Dr.  Bob  LoPiccolo.
Historically,  PRG  has  performed the following client services on a  contract  basis:  analyses  and
interpretation  of  geological, geophysical and well data; award of contracts for the  acquisition  of
seismic,  gravity  & magnetic data; third party supervision during field operations;  presentation  of
reports  to  government  agencies. PRG has also represented its clients  at  technical  and  operating
committee meetings and assisted with future planning of exploration ventures.

Frontier's  CEO Jack Keyes said "We are very pleased to have the assistance of Dr. Bob  LoPiccolo  and
his company on this project. PRG has much experience working with data from Namibia's Ovambo Basin and
will be of great assistance to Frontier on this very interesting project."

The Directors of Frontier are responsible for the contents of this announcement.

Frontier Resources International Plc.
Graeme Thomson
Telephone: U.K. +44 7930 405 921

Frontier Resources International Plc.
Jack Keyes
Telephone: U.S. +1 (281) 920-0061

Corporate Advisor
St Helens Capital Partners LLP
Duncan Vasey or Mark Anwyl
Telephone: +44 207 368 6959

Contact Information

  • Frontier Resources International plc