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

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Post by richlundon Nov 23, 2013 12:35pm

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Post# 21934802

The extra $5m

Paul Bennett, the ex-CEO, told me about the additional $5m they have available. I was so blown away I didn't catch the source. It was definitely cash and I think it was either from the Baraka farm-in or monies owed to them from Statoil, but I can't be sure. What I do know is that Bennett was clear that it was in addition to the $9.6m cash on hand. It was borrowed money or a line of credit.

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