The Board of Directors of Frontier Resources International says that on 25 November 2012, his Majesty Sultan Qaboos, issued a royal decree endorsing the recently signed Exploration and Production Sharing Agreement (EPSA) over Block 38 in southern Oman.

As part of its initial evaluation of the block and in preparation for the Company's move to London's AIM, Frontier retained SLR Consulting to prepare a Competent Persons Report (CPR) on the area. The Company now wishes to announce that this report has been completed and the Executive Summary is reproduced without material amendment as an Appendix to this announcement.

Jack Keyes, CEO of Frontier said, 'We are gratified to hear that HM Sultan Qaboos has endorsed our EPSA. The CPR gives Block 38 an estimated original oil in place (OOIP) of 10,865 MMboe and we believe that Block 38 contains an untested salt basin analogous to the other proven salt basin of Oman and we are looking forward to exploring this very interesting area next year'.

Tags: Frontier Resources International