U.S. GAS EXPLORATION VENTURE UNDER WAY BY INDEPENDENTS

A joint venture of Frontier Natural Gas Corp., Oklahoma City, and Polaris Energy Corp., Houston, has acquired its first leasehold in a gas exploration program along the U.S. Gulf Coast. Focus of the program lies in Plaquemines, Jefferson, LaFourche, and Terrebonne parishes of South Louisiana and Texas Railroad Commission Dists. 1 through 6. Targets involve prospects with reserve potential estimated at 20200 bcf each. Polaris will provide prospects and lease acquisition services for the venture.

May 29, 1995

A joint venture of Frontier Natural Gas Corp., Oklahoma City, and Polaris Energy Corp., Houston, has acquired its first leasehold in a gas exploration program along the U.S. Gulf Coast.

Focus of the program lies in Plaquemines, Jefferson, LaFourche, and Terrebonne parishes of South Louisiana and Texas Railroad Commission Dists. 1 through 6. Targets involve prospects with reserve potential estimated at 20200 bcf each.

Polaris will provide prospects and lease acquisition services for the venture. Most of the prospects will require 3D seismic surveys.

Frontier will be responsible for all geophysical services required for modeling, design, and supervision of 3D data acquisition, as well as processing and interpretation of seismic data. Frontier also will provide accounting and land administration services and be mainly responsible for obtaining capital.

Weisser, Johnson & Co. Capital Corp., New York and Houston, will arrange as much as $10 million in capital for the program.

The venture's first operation is a multiwell exploration and development program in Terrebonne Parish. Frontier believes leases controlled by the venture include acreage that holds substantial proved, undeveloped gas