In addition to the Taribani Field, the Basin Edge B Prospect and the Basin Edge C Prospect, Frontera has developed an extensive inventory of leads and prospects throughout Block 12. As shown in the map and cross section below, among the Company's inventory are a series of high-graded prospects and fields that the Company is targeting near-term for new geophysical data acquisition and drilling operations. These targets represent strategic areas such that, if these operations are successful, the Company's scientific work to date indicates that the reserve potential of the Company's inventory of prospects within Block 12 would increase.
Historically, in support of developing Frontera's understanding of the Kura Basin, Block 12 and the broader inventory of fields, prospects and leads that could result in future commercial production, Frontera has:
conducted surface structural and stratigraphic mapping studies over 4,000 km2 in and around Block 12.This work has been integrated into existing subsurface control resulting in a revised digital geologic map for eastern Georgia;
performed sequence stratigraphic and biostratigraphic analysis on existing new seismic and outcrops that has yielded the presence of a ''paleo deep water'' oil play never before explored for in the basin;
conducted source rock maturation, oil seep typing, depth of burial analysis, soil gas analysis and kerogen studies which indicate where oil and gas generation is occurring;
reprocessed approximately 2,000 kilometres of existing 2D seismic data;
acquired 208 kilometres of new 2D seismic across the existing fields, together with 4 shallow well velocity profiles across the Taribani Field that allows the areas to be regionally tied together in a common structural and stratigraphic framework. This work has been extended from known well control to all areas of Block 12, resulting in regional structure and isopach mapping and generating numerous additional prospects and leads; and
experimented with an eight well workover testing programme from the existing inventory of wells at the Mirzaani Field and Patara Shiraki Field. This work has helped to provide an understanding of the shallow reservoirs in these fields.
2005-2007 Work Program
Over the next three years, Frontera intends to acquire new seismic data over its high-graded inventory of additional fields and prospects in the Tertiary Clastics Play as well as in support of identifying other new plays. After acquiring this new data, the Company plans to complete geologic mapping over the fields and define the limits of the fields' closures, enabling the Company to better develop and define future drilling locations.
This additional seismic will provide the basis for completing geologic mapping over the Kila Kupra Field, Iori Field and Bayda Field Complex, as well as other areas of Block 12 in preparation for future drilling. It will also establish the basis for the next evolution of understanding the surrounding areas in the development and further high-grading of the Block 12 inventory of prospects and leads.
