PetroFrontier Corp V.PFC

Alternate Symbol(s): PFRRF

Energy Oil & Gas E&P

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.

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PetroFrontier Corp

Bullboard Posts

Comment by JB3729on Sep 04, 2012 4:26pm

349 Views

Post# 20316565

RE: RE: news....decent spec

PetroFrontier may have been backed into a corner when Macquarie terminated the bought deal financing. This from the MD&A released on 8/28/12:

With current working capital on hand, the Corporation expects to have adequate funding to provide for general operations and to meet the Corporation’s minimum work requirements with the government of the Northern Territory of Australia for a period of at least 12 months. However, the Corporation intends to raise additional capital during Q3 or Q4 of 2012 in order to expand its operations and capital expenditure programs beyond the minimum work requirements, including the fracture stimulation of the Corporation’s three wells in 2012. If the Corporation is unable to obtain sufficient financing to conduct the full capital program, the Corporation has the ability to curtail its capital expenditure programs.