Operating History
1988
Ex Gulf Oil Corporation management team establishes Frontier Resources International, Inc. as an independent, privately owned exploration, development and consulting company with headquarters in Houston, Texas. The main focus of the Company is to acquire and develop hydrocarbon reserves in the Middle East and Africa. This region was selected based on its oil and gas potential, operating environment and Frontier's technical knowledge in this region.
1989
Frontier forms a joint venture with Canada Northwest Energy Limited (CNWE) and acquires five exploration blocks in the North Celtic Sea offshore Ireland under a Seismic Option Agreement. Frontier retains a 3% overriding royalty interest and provides all technical and managerial services to the joint venture.
Frontier also establishes a joint venture with Northco Holdings Limited, a Norwegian company based in Oslo, and e raises capital from Crystal Oil Company of Shreveport, Louisiana to explore for hydrocarbons in the Komi Republic of the Russian Federation.
Company enters into an funding arrangement with Clancy Resources Limited of Pittsburgh, Pennsylvania and Davis Petroleum Company of Houston, Texas to explore in Ireland. Frontier arranges a data trade with Santa Fe Minerals Corp. in London and acquires two exploration blocks in the North Celtic Sea.
1992
Frontier retains a 5% equity interest in the Timan-Pechora Exploration Company, a consortium formed among Frontier Resources International, Inc., Oil Data Inc. and Russian Group Pechorageofizika, to explore for hydrocarbons in the Komi Republic of the Russian Federation. The concession was later sold to French Independent Maurel and Prom.
1993
Frontier farms out the North Celtic Sea acreage to Mobil North Sea Ltd.
1998
The Company establishes a wholly owned subsidiary, Frontier Marine Inc., and acquires a d 33 million acre concession in the Mozambique Channel offshore Madagascar.
1999
Frontier signs agreement to acquire an exploration concession in the Mozambique Channel offshore the Comoros Islands
2000
Company sells its 3% royalty interest in the offshore Ireland acreage to Sherritt International Oil and Gas.
2001
Frontier acquires the onshore U.S. producing assets of Western Atlas International.
Signs agreement with Government of Tunisia for the onshore Feriana Block
Acquires exploration concession in the Gulf of Aden, offshore Yemen
2003
Established wholly owned subsidiary, First African Oil Corporation (FAOC) and acquires a 200,000 concession in the Etosha Basin in northern Namibia
Management team co-founds Circle Oil Plc. a U.K. registered exploration company and lists the company's shares on the AIM market of the London Stock Exchange.
2004
Acquires equity position in Circle Oil Plc. by assigning the Namibia licence.
2005 - 2008
Frontier provides technical and managerial services to Circle Oil. New exploration agreements
are signed in the Sultanate of Oman, (onshore and offshore) , Ireland and Panama
2009
Frontier acquires additional producing assets onshore Texas.
Frontier management team withdraws from Circle Oil Plc. and Frontier itself becomes a public company with shares traded on London's Plus Markets.
2010
Prior to upgrading share listing Frontier sells producing properties to private Texas production company.
2014
Frontier's stock listing is upgraded from Plus Markets to AIM, the Alternative Investment Market thus increasing the liquidity in the Company's shares.
2016
Company returns to private status - actively reviews projects onshore S.E. Europe
2018
Company establishes a wholly owned U.K. subsidiary, Navarino Gas Limited, to pursue gas-to power opportunities in Greece and the Balkans
2019
Frontier acquires 25% interest in exploration acreage onshore Namibia as it continues to evaluate gas-to-power opportunities in the Balkans and southern Africa.
Signs agreement to participate with the EDG Group to pursue exploration and development projects onshore the Republic of Albania