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.
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.
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