Frontera Resources, an oil and gas exploration and production company, said that a multi-zone frac completion at the Mirzaani #5 well in the Mirzaani Field, located within its Shallow Fields Production Unit, Block 12, in the country of Georgia, has been completed in late September.

The frac completion targeted Zones 13 and 16/17, at depths of approximately 897-909m and 1,057-1,075m, respectively, commingling these intervals.

After a 36-hour clean-out, the well delivered a 48-hour initial average flow rate of approximately 230 barrels per day of fluid, at an average flowing well head pressure of approximately 230psi, including an average of approximately 100 barrels per day of oil with associated gas, from the 28m of fraced pay.

The well has continued to flow naturally at a 14-day average rate of approximately 130 barrels per day of fluid, including 60 barrels per day of 29.5O API oil and associated gas.

The well will remain on clean-out production operations for the next 30 days in order to continue to recover the remainder of the approximately 2,200 barrels of injection water that was pumped into the reservoir formations during fracing operations.

During this early production period, the well will be monitored and analyzed, after which flow parameters will be determined for the sizing of a submersible pump to maximize production rates from the well.

The Mirzaani #5 frac completion constitutes an essential first step towards increasing near term production at the Mirzaani Field.

Frontera holds a 100% working interest in the field.