As a result of these unforeseen operational delays at MacIntyre-2H and Baldwin-2Hst1, test results on these wells are not likely until 2013, depending on regulatory approvals, weather and the availability of required equipment and services.
The operations referred to above are "firsts" in the Northern Territory,
and are critically important operations for PetroFrontier. PetroFrontier (in conjunction with its partners, Statoil Australia Oil & Gas AS and Baraka Energy & Resources Limited) intends to continue assessing the most efficient and cost effective way to explore and develop its unconventional resource potential in the Southern Georgina Basin.
About PetroFrontier Corp.
PetroFrontier is an international oil and gas company engaged in the exploration, acquisition and development of both conventional and unconventional onshore petroleum assets in
Southern Georgina Basin. Founded in 2009, PetroFrontier is one of the first companies to undertake onshore exploration in the Southern Georgina Basin in
Northern Territory. PetroFrontier's head office is in
and its operations office is in
. PetroFrontier's common shares are listed on the TSX Venture Exchange under the symbol "PFC".
This press release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of PetroFrontier, including, without limitation, statements pertaining to management's future plans and operations. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in PetroFrontier's disclosure documents on the SEDAR website at www.sedar.com. Any forward-looking statements are made as of the date of this release and, other than as required by applicable securities laws, PetroFrontier does not assume any obligation to update or revise them to reflect new events or circumstances.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE PetroFrontier Corp.