NORTH LAS VEGAS, Nev., April 10 /Xinhua-PRNewswire/ -- Frontier Energy Corporation ("Frontier" or the "Company") (OTC: FRGY) has adopted a policy of acquiring key acreage on significant oil and gas prospects in the western mountain basins, and the Company is succeeding in this effort. A previous release described the ongoing acquisition of BLM and privately held leases on a target in one of these key states. Prior to this purchase, Frontier was the successful bidder at a State lease sale and acquired a key section (640 acres) on major prospect, which we believe may contain a significant oil reserve.
There is a significant amount of available acreage on this very important prospect and details of the location will be released as soon as the remaining acreage blocks have been acquired. The logs of the ‘lead’ well on this prospect exhibits approximately 400 ft. of untested reservoirs and projected reserves are believed to exceed 15 million barrels of oil per section. The section purchased by Frontier is located within three quarters of a mile of the ‘lead’ well, and we expect that the acreage we intend to acquire is equally productive.
In the event of success, this prospect will be of major importance to Frontier.
About Frontier Energy Corporation
Frontier is newly-recapitalized exploratory oil and gas business headquartered in North Las Vegas, Nevada. Frontier has one gas lease under contract and intends to enter into drilling, completion and distribution agreements to exploit this lease. Frontier also intends to enter into additional leases, as its funding permits.
Safe Harbor Statement
Except for the historical information presented, the above statements are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 or regulations there under. These forward-looking statements are subject to risks and uncertainties, and actual results may differ materially. These risks include the economic health of the oil and gas industry, competitive pricing pressures, completion of possible acquisitions, success at integrating and operating any acquired operations and the availability of necessary financing. These statements speak only as of above date, and Frontier Energy Corporation disclaims any intent or obligation to update them.
