Frontera Resources Corporation, an independent oil and gas exploration and production company, has announced that its fully owned subsidiary Frontera Resources International LLC has been chosen as winner of the bidding for exploration and production of hydrocarbons in the Republic of Moldova.
Following completion of the bidding, Frontera Resources International LLC and the Government of Moldova are set to conclude respective agreements on the hydrocarbons exploration and development. These agreements are subject to both Frontera Resources International LLC and the Government of Moldova negotiating suitable terms for the exploration and development of hydrocarbons outlined in the initial bidding process.
The bidding was conducted by the Agency of Geology and Mineral Resources of the Ministry of Environment of the Republic of Moldova pursuant to the resolution of the Government of the Republic of Moldova.
The company will inform the market in due course on further developments.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
Read the article online at: https://www.oilfieldtechnology.com/exploration/17112016/frontera-wins-hydrocarbons-exploration-and-development-bid/