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Frontera gushes higher after positive results

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    Date: Thursday 08 May 2008

    LONDON (ShareCast) - Shares in oil and gas explorer and producer Frontera Resources jumped 17% after positive results at its oil drilling operations in the Republic of Georgia.

    Early results showed that the Dino #2 development well at the Taribani Field Unit was flowing at sustainable rates with no associated flow of sediment, Frontera said, adding that it believed the well is capable of producing more than 200 barrels of oil a day.

    “The initial production results from the Dino #2 well are very significant and we believe they confirm our plans for the ongoing development of Zone 9 amidst an attractive commodity price environment,” chairman and chief executive Steve Nicandros.

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