Roth Capital Initiates Coverage on Frontera Resources (FRTE) with a Buy Price target $4.

Phoned the company on friday and in a nutshell there will be an update shortly, i asked if all had gone to plan and she said we expect to meet out targets before year end thanked me for my support gl all senn.

I posted this a while bk.........

Were currently waiting on news for the mirzanni field to prove up 50million recoverable barrels of oil, estimates are the field holds 600million barrels OIP. They are hoping to increase production to 1000bopd by Christmas and 2000bopd in 2011.

This will give them a financial platform to work from and move forwardespecially the Basin Edge prospects B & C which are estimated to hold over 1billion recoverable barrels of oil



Mtsare Khevi Field

5 million barrels of recoverable oil reserves, Additional reserve potential exists in deeper Miocene age sandstone horizons that have previously tested and flowed oil. This potential is currently under study and is expected to become a focus of future operations to fully develop the Mtsare Khevi Field.

The Mirzaani #2

the Mirzaani Field Northwest contains potentially significant volumes of recoverable oil reserves within multiple reservoir intervals situated at depths between 800 and 1,300 meters. In total, early analysis by the company indicates there may be as much as 600 million barrels of total oil in place.

Nazarlebi Field and Patara Shiraki Field:

Frontera's field studies have concluded that significant undeveloped reserve potential of as much as 5 million barrels of recoverable reserves exists in oil bearing reservoirs situated at depths from 10 meters to 1,200 meters within the Shiraki formation at the Nazarlebi and Patara

Shiraki Fields

the company believes to be an extensive trend of low-cost, low-risk oil and gas reserves. Containing four discovered yet undeveloped or underdeveloped fields that have additional exploration potential, objectives are considered to be traditional, well-known reservoirs of Pliocene and Miocene age that are situated at depths from 10 meters to 1,500 meters

Taribani Field Unit

The Taribani Field is a large, undeveloped oil field covering an area of approximately 80 square kilometers with productive horizons situated in Miocene and Pliocene age reservoirs. These reservoirs are located at depths between 2,200 meters and 3,500 meters. The independent consulting firm of Netherland, Sewell & Associates has assigned 118 million barrels of P3 reserves from Zones 9, 14, 15 and 19 within the field. Additionally, Netherland, Sewell & Associates has assigned as much as 36 million barrels of unrisked resource potential associated with five deeper horizons in the field.

Basin Edge Play Unit

Frontera's Basin Edge Play Unit is located along the northern border of Block 12 and represents what the company believes is one of the newest and potentially most prolific exploration plays in the Upper Kura Basin. Netherland, Sewell and Associates estimate total unrisked resource potential to be in excess of one billion barrels of recoverable oil within the unit's two major prospects ("B" and "C"). Of this total, prior to the acquisition of new seismic data suggesting an even larger structure, the "C" Prospect was estimated to contain as much as 300 million barrels of recoverable oil from primary reservoir targets and as much as 250 million barrels from secondary reservoir objectives.

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Mtsare Khevi Field = 5 million barrels of recoverable

The Mirzaani #2 = 600 million barrels of total oil in place X 25% recoverable say = 150million barrells

Nazarlebi Field and Patara Shiraki Field: = 5 million barrels of recoverable

Shiraki Fields = ?

Taribani Field Unit = 118 million barrels + 36 million barrels = 154million barrells

Basin Edge Play Unit = one billion barrels of recoverable oil



I only came across FRR when i noticed all the director buys recently which then led me into further research

volume and went 2v1