PetroFrontier Corp. is a publicly traded (TSX-V: PFC) international oil and gas exploration company engaged in the exploration, acquisition and development of both conventional and unconventional onshore petroleum assets in the Northern Territory, Australia's Southern Georgina Basin where it holds an average net carried 17% working interest in approximately 13.1 million gross acres.
On June 11, 2013 PetroFrontier announced that it had agreed to "amend" an existing farmin agreement with Statoil Australia Theta BV ("Statoil") whereby Statoil could spend up to US$175 MM by the end of 2016 before PetroFrontier will be required to contribute further. Effective September 1, 2013 Statoil became the operator and exploration costs will be fully funded by Statoil over three phases, to the end of 2016, in return for 80% of PetroFrontier's working interest. Please click on Statoil Joint Venture for further details.
2014 Operational Update Video Interview with Mr. Earl Scott, President & CEO, January 2014
PetroFrontier's joint venture partner has initially selected two wells from the 2014 work program and budget for completion and testing.
PetroFrontier Corp. is very pleased to announce that the fifth well in its 2014 Work Plan and Budget (the “2014 WP&B”) has now spud and drilling is underway.
PetroFrontier is very pleased to announce that the fourth well in its 2014 Work Plan and Budget has now spud and drilling is underway.
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