Frontera and CGX Signal Major Guyana Discovery

Frontera Energy (TSE:FEC) has released an update.

Frontera Energy and CGX Energy have announced a Notice of Potential Commercial Interest to the Government of Guyana for the Wei-1 well in the Corentyne block, indicating a significant discovery and preserving their interests in the region. The successful drilling of the Wei-1 well fulfills Phase Two obligations of their original 10-year license and is part of the Kawa-1 Appraisal Programme. The companies, supported by investment bank Houlihan Lokey, are exploring strategic options to capitalize on the Corentyne block’s potential.

For further insights into TSE:FEC stock, check out TipRanks’ Stock Analysis page.