Good find by Chris 572 on LSE - note the date of the cabinet meeting to discuss. Today.
Hardly the expected outcome of a company not in business - or where the senior team have gone AWOL. More twists and turns than…
"Ukraine, at the suggestion of the American company Frontera Resources, may hold a tender for the development of hydrocarbons in the PSA within the Dolphin site, located in the northwestern part of the Black Sea continental shelf.
The corresponding draft resolution is included in the agenda of the Cabinet of Ministers on Wednesday, March 6.
Read the news also on the website “Energy Reform”
The total area of the site is 9.772 thousand square meters. km Presumably the minimum investment should reach 1.5 billion UAH. The conditions of the competition also stipulate that the size of the minimum share of the state in a profitable product is 11%.
The winner of the development tender for the PSA will have to provide a geological survey of the subsoil at the site, including the drilling of at least five wells during the first five-year stage of geological exploration.
Frontera Resources Corporation, founded in 1996, is engaged in the exploration and production of gas and oil. The company’s strategy is to search for prospects for the extraction of hydrocarbons in the markets of Eastern European countries that belong to the Black Sea basin. The proven natural gas reserves of the company in Georgia amount to about 300 billion cubic meters. "