PetroFrontier Corp. obtains approvals for Amended Farmin Agreement with Statoil

CALGARY, July 19, 2013 /CNW/ - (TSX-V: PFC) - PetroFrontier Corp. ("PetroFrontier") is very pleased to announce that the Foreign Investment Review Board of Australia ("FIRB") has no objection to, and the TSX Venture Exchange ("TSXV") has conditionally approved, the Amended Farmin Agreement between Statoil Australia Theta B.V., a wholly owned subsidiary of Statoil ASA ("Statoil") and PetroFrontier.  Subject to final approval of the TSXV upon filing of final documents, these approvals satisfy the last condition precedent of the Amended Farmin Agreement announced on June 11, 2013.

About Statoil

Statoil is an international technology-oriented energy company focused on upstream oil and gas operations and currently produces 2 million barrels of oil equivalents per day. Statoil has high ambitions for international growth and is active in 35 countries around the world. Statoil's shares are listed on both the Oslo Børs ("STL") and the New York Stock Exchange ("STO"). Statoil has a market capitalization of around US$72 billion and has 23,000 employees worldwide.

About PetroFrontier Corp.

PetroFrontier is an international oil and gas exploration company engaged in the exploration, acquisition and development of both conventional and unconventional petroleum assets in Australia's Southern Georgina Basin. PetroFrontier's common shares are listed on the TSX Venture Exchange under the symbol "PFC".  Founded in 2009, PetroFrontier is one of the first companies to undertake exploration in the Southern Georgina Basin in Australia's Northern Territory.  PetroFrontier's head office is based in Calgary, Alberta and its operations office is in Adelaide, South Australia.

Forward-Looking Statements

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, the final approval of the TSXV. 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 TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: PetroFrontier Corp.

For further information:

Paul Bennett, President and CEO, or
Susan Showers, Manager, Investor Relations

PetroFrontier Corp. Suite 320, 715 - 5 Ave. S.W.

Calgary, Alberta, Canada T2P 2X6
Telephone: (403) 718-0366
Toll Free: (877) 822-7280
Fax: (403) 718-3888

Email: info@petrofrontier.com
Website: www.petrofrontier.com

Profil de l'entreprise

PetroFrontier Corp.

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