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Frontier Energy Completes Lease Acquisition on Black Forest Prospect

Posted on: Thursday, 6 March 2008, 09:00 CST

Oil and gas exploration firm Frontier Energy has completed the lease acquisition on its Black Forest prospect, located in Crook County, Wyoming. The company owns an undivided 25% working interest in the property with the option to increase its working interest to 75%, based upon completion of the terms of the joint venture agreement.

Frontier Energy has said that drilling sites in surrounding areas of the Black Forest property have exhibited encouraging gas and oil shows in the samples from comparable Cambrian zones.

The calculated possible reserves are approximately 13.9 million barrels per section and a total reserve projection of approximately 100 million barrels of oil, based upon production of surrounding properties.

In conjunction with the company's joint venture partner, Frontier is expecting to commence drilling on the Black Forest property in the second quarter of 2008.

Bob Genesi, Frontier Energy CEO, said: "We are completing and implementing our business plan at a quicker pace than expected. We look forward to announcing these exciting developments of what the Frontier team has accomplished and is accomplishing, in the very near term."

Source: Datamonitor

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