Frontier Resources points to Oman Block 38's potential

Assessing Oman: Texan junior outlines Block 38's oil potential

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Bill Lehane

 28 January 2013 10:36 GMT

Houston’s Frontier Resources has said best estimates for its new wholly-owned Block 38 in Oman run to 140 million barrels of oil initially in place.

The Texan junior, which is planning a listing on London’s Alternative Investments Market, has issued the new competent person’s report on the Mudayy block ahead of survey and seismic work this year on the play.

Based on 2001 data, the report gives a low estimate of 23 million barrels and a high estimate of 372 million barrels for initially in place volumes, with a risk factor of 19%.

The explorer now envisages geophysical and geological studies followed by an $8 million, 500-square kilometre 3D seismic survey on the block to hone in on potential drill prospects.

It was awarded the 17,425-square kilometre block…

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