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Frontera Provides Update on Exploration Block Offshore Guyana
Frontera Provides Update on Exploration Block Offshore Guyana Canada NewsWire ...
About this update from Frontera Energy Corporation
[{"type":"text","content":"\n \n \n \n Frontera Provides Update on Exploration Block Offshore Guyana\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Following Light Oil and Gas Condensate Discovery at The Kawa-1 Exploration Well, Frontera and JV Partner to Focus on Corentyne Block\n \n \n \n \n The Wei-1 Exploration Well, Expected To Be Spud In 3Q'22\n \n \n \n \n Frontera has in Principle Come to Mutual Agreement with the Government of\n \n Guyana\n \n to Relinquish Demerara Block\n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n June 16, 2022\n \n \n /CNW/ - Frontera Energy Corporation (TSX: FEC) (\"Frontera\"), joint venture partner with CGX Energy Inc. (TSXV: OYL) in the Petroleum Prospecting License for the Corentyne block offshore\n \n Guyana\n \n , today announced that, following constructive discussions with the Government of\n \n Guyana\n \n , the joint venture will focus exclusively on the exploration opportunities in the Corentyne block. The decision follows the discovery at the Kawa-1 exploration well on the Corentyne block.\n \n \n Frontera will continue to integrate its findings from the Kawa-1 well into preparations for its second exploration well, called Wei-1, in the third quarter of 2022. The Wei-1 exploration well will be located approximately 14 kilometres northwest of the Kawa-1 exploration well in the Corentyne block, approximately 200 kilometres offshore from\n \n Georgetown\n \n ,\n \n Guyana\n \n . The Wei-1 exploration well will be drilled in water depth of approximately 1,912 feet (583 metres) to a targeted total depth of 20,500 (6,248 metres) and will target Maastrichtian, Campanian and Santonian aged stacked channels in a western channel complex in the northern section of the Corentyne block.\n \n \n Given the importance of the Demerara block to\n \n Guyana\n \n , Frontera has, in principle, reached an agreement with the Government to allow for the relinquishment of the Demerara block through a mutual termination agreement which terms remain to be defined and documented. Such termination agreeme...