Good News..North Sea licences in 24th roundCALGARY, ALBERTA--(CCNMatthews - Feb. 1, 2007) -
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International Frontier Resources Corporation (TSX VENTURE:IFR) today announced that it's wholly owned U.K. subsidiary, Britcana Energy Ltd., together with partners have been awarded four North Sea exploration blocks in the 24th Seaward Licensing Round announced by the U.K. Department of Trade and Industry ("DTI") on February 1, 2007.
Nippon Oil Exploration and Production U.K. Limited (30%) has been appointed operator of the blocks. Partners in the consortium include Britcana (10%), Hunt Petroleum U.K. Limited (30%) and Stratic Energy (UK) Limited (30%).
The blocks awarded are located in the Central North Sea in Quad 15 encompassing block 15/23c, 15/24a (split), 15/28a (split) and 15/29e. The consortium work program includes two firm wells, two contingent wells and 3D seismic reprocessing.
Commenting on the 24th round Company President, Pat Boswell said, we are very pleased with the award of four blocks covering our Bowmore Prospects in Quad 15. The addition of Bowmore, coupled with our Laurel Valley, Lytham, Ridgewood and Glen Eagles prospects provides the Company with exposure to five firm high impact North Sea exploration wells and four contingent wells. We are also pleased to see that other Canadian Companies have been offered Licenses at the 24th round including, Bow Valley, Ithaca Energy, Nexen, Oilexco, Petro-Canada, Sterling Resources and Talisman.
International Frontier conducts exploration in the Central Mackenzie Valley and Colville Hills areas, Northwest Territories, Canada and in the U.K. sector of the North Sea. For additional information visit the Company's web site at www.internationalfrontier.com.
Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements