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PetroFrontier Corp V.PFC

Alternate Symbol(s):  PFRRF

PetroFrontier Corp. is a Canada-based junior energy company. The Company is engaged in exploring for and the production of petroleum and natural gas in western Canada. It is focused on developing two Mannville heavy oil plays in the Cold Lake and Wabasca areas of Alberta. The Company has interests in approximately 16 gross (15 net) sections arising from several joint operations with the wholly owned energy companies of the Cold Lake First Nations (CLFN). The Company also has a joint venture agreement with the wholly owned energy company of the Bigstone Cree Nation (BCN), covering 1,024 gross (922 net) hectares in the Wabasca area of north-central Alberta, of which half has been earned as a leasehold interest. Those interests are located between CNRL’s prolific Brintnell enhanced oil recovery project producing approximately 50,000 bop/d of heavy oil and Cenovus’ proposed 10,000 bop/d thermal heavy oil project.


TSXV:PFC - Post by User

Bullboard Posts
Comment by oilspringson Dec 12, 2012 7:55pm
167 Views
Post# 20722455

RE: Stockbaby

RE: Stockbaby

all these people keep talking about statoil owning 65%, as of right now it should be noted that they dont own 1% of the tennements, they dont earn anything until phase one is complete and then they have to sign on to phase two to earn 25%, then after phase two is complete and they agree to phase three (2015) they will earn 50 % they have to spend nearly two hundred million dollars before they earn 65%, which is years down the road, if another company was interested in pfc they would only need 10 million to pay statoil and whatever price they would pay for pfc and they are pretty much free carried after that, if for example they bought pfc for .50c they would get them for about 40 million plus the 10 to statoil, that would be 50 million and if statoil stays the duration they would be forking out 200, thats a pretty good deal for 25 , 50  and then 35% of the tennements , they would be spending a quarter of what statoil would be spending and even less for heritage at this point if they were to buy pfc

Bullboard Posts

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