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.

TSXV:PFC - Post by User

PetroFrontier Corp

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Comment by WeKnowEnergyon Dec 05, 2012 5:30pm

221 Views

Post# 20689356

RE: RE: RE: RE:RE: RE: Market

Oilwatcher,

Rather than guessing I talked to the company today and confirmed at the current burn rate they have over 12 months cash and no need for financing.

Also, in their news release dated November 27th:

"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."

Their cash in the bank is well in excess of the current enterprise value making them possibly the most attractive takeover candidate in Canada. That combined with a strategic review process today and Instinet buying millions of shares, I think we are looking quite good from here :)

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