Frontera Resources Corporation provided update regarding its operations at Block 12 in Georgia. Well T-39: As previously announced by the company on 29 June 2018, the well T-39, the third well of the three-well drilling and testing campaign at the Company's Taribani complex situated within the Block 12 license in Georgia, has been sidetracked from the existing wellbore and drilled to a vertical depth of 3,056m into the Miocene aged Eldari B formation. Total net pay of 132m has been calculated for penetrated four oil bearing sandstones, Zones 9, 14, 15 and 19. On 4 July 2018, Extended Well Testing ("EWT") commenced at T-39 well, by perforation of 21m interval of Zone 19, situated between 2,970m and 3,000m. After a well clean out, the well started to flow light (41.5 API), sweet crude oil together with wet gas and, under natural flow, achieved following production rates: 529 bbls/d of oil and 600,000 scf/d of gas using an 8/64" chock size, 347 bbls/d of oil and 425,000 scf/d of gas using an 7/64" chock size and 250 bbls/d of oil and 350,000 scf/d of gas through 6/64" chock, demonstrating excellent well deliverability. The Company anticipates that production rates from future development wells may be significantly higher. The CPR volume estimates of 14.8 million barrels of recoverable oil from Zone 19 and 36.5 million barrels of recoverable oil from Zones 20, 23 and 25 of the Eldari B formation, situated between 3,056m and 3,350m interval support the significant potential of the Eldari B formation. The 300m interval below Zone 19 was previously penetrated during the drilling of the Niko-1 well, the first well drilled by the Company in Block 12, Georgia. Testing of the interval confirmed the presence of oil and gas bearing Miocene aged marine sandstones with good reservoir properties, flowing light sweet oil and wet natural gas at a commercial volumes. Gareji formation, situated below the Eldari B reservoir in the Taribani field is estimated to contain 3.2 Trillion Cubic Feet of recoverable gas according to the CPR estimates. Well Ud-2: As previously announced by the Company on 8 May 2018, Extended Well Testing ("EWT") at Ud-2 well, situated in Mtsare Khevi Gas Complex of Block 12 in Georgia, commenced on 21 April 2018. The company perforated and with 57 tons of proppant mechanically stimulated 9.5m out of gross 27m interval situated between 2,519m and 2,446m of Middle Miocene aged Zone F. During the clean out phase the well flowed dry natural gas, carrier fluid with some proppant and cement particles. It has transpired that cementing around the casing at this section was of very poor quality and, accordingly, did not allow achieving a designed fracture geometry during stimulation and prevented continuous clean out process of the well. Maximum flow rate of 150,000 scf/d of dry gas has been recorded during the testing period. Based on the current well test result, the reconfirmation of the presence of Middle Miocene aged gas in Zone F and the potential to increase stimulation efficiency by improving the fracture geometry, the Company is considering the option of sidetracking from the existing wellbore of Ud-2 well. In the meantime preparations underway to plug and abandon the well. Wells T-45 and Dino-2: The company is continuing Extended Well Testing ("EWT") of the wells T-45 and Dino-2 in the Taribani complex, and will update the market about these wells in due course.