Fremont Petroleum Corporation Ltd. confirms that a workover program is now underway to enhance the performance of an initial 26 wells in Colorado and Kentucky and deliver more consistent daily oil production and revenue. As the oil price has strengthened, some profitable wells have been brought back on line resulting in initial modest daily production of ~20 barrels of oil per day. Once these workovers are completed and gas flaring reinstated on some wells, the company anticipates daily production will increase to a steady ~100 barrels of oil per day. More complex workovers of some larger wells in Colorado will then be considered. As well as the Trey acquisition already announced, smaller opportunistic bolt-on assets, adjacent to the company's leases in Kentucky are being assessed where the company will assume operatorship and capitalise on shared production gains. As reported, the company is also looking to revise its Colorado lease agreements in order to reduce drilling commitments and deliver major cost savings. More details on these initiatives will be provided shortly.