On 4 February 2014 the Board of Frontier declared that the Minister of Mines and Energy in Namibia had granted the Company a two year extension to its exploration licence covering onshore Blocks 1717 and 1718 in the Owambo Basin.

The original licence, awarded in January 2012, was renewed until 20 January 2016 (the 'First Extension Period'). The First Extension Period has now expired.

The Company intends to consider in the context of current market and oil sector conditions with the Ministry if and on what basis the licence might be extended or re-issued as may be applicable for any further period.

Tags: Frontier Resources International