Yahoo Philippines News - Live 2013 Philippine Elections News Updates and Results: Frontier Oil to drill Palawan and Cagayan wells in Q1 2014

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Frontier Oil to drill Palawan and Cagayan wells in Q1 2014 Nov 5th 2013, 03:38 The initial public offering (IPO) of Frontier Oil Corp. will transform the company from an explorer into a producer as it aims to drill two offshore wells in the Calauit Field by end of first quarter next year, a company executive said. "What we're trying to do with this IPO is transforming the company from an explorer into a producer," president Kristoffer Fellowes told reporters in an investors' briefing late Monday. Discovered in 1991 by Petrocorp Exploration Philippines Ltd., Calauit Field is part of service contract (SC) 52 in offshore northwest Palawan and is Frontier Oil's most mature projects.

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