CALGARY, Jan. 24, 2012 /CNW/ - (TSXV: PFC) - PetroFrontier Corp. ("PetroFrontier") is pleased to announce that it
has secured Rig #918 with Ensign Australia Pty. Limited, a subsidiary
of Ensign International Energy Services ("Ensign") for the drilling of
two horizontal wells in the Southern Georgina Basin, Northern
Territory, Australia. Rig #918 is a small double oil field rig which
has significantly greater hook load and pump capacity compared to the
previous rig, which should notably improve tripping times and reduce
Rig #918 will commence drilling the horizontal section of
PetroFrontier's MacIntyre-2H well (in EP 127) following release from
its current operations and its mobilization to the well site, expected
to be in mid to late March 2012. PetroFrontier plans to then drill a
high angle pilot hole and horizontal leg of PetroFrontier's Owen-3 well
(in EP 104) immediately thereafter. However, these target dates are
dependent upon completion of Rig #918's current drilling operations and
the end of the wet season in the areas of MacIntyre-2 and Owen-3.
PetroFrontier is currently negotiating to secure a service rig to
support its upcoming completion and stimulation operations at
MacIntyre-2H, Baldwin-2Hst1 (in EP 103) and Owen-3H. Completion
operations are expected to commence in April 2012. MacIntyre-2H,
Baldwin-2Hst1 and Owen-3H will be frac'd, flowed and completed in that
About PetroFrontier Corp.
PetroFrontier is an international oil and gas company engaged in the
exploration, acquisition and development of both conventional and
unconventional petroleum assets in the Southern Georgina Basin in the
Northern Territory, Australia, where it has an approximate 85.5%
working interest in 13.6 million gross acres in four exploration
permits. PetroFrontier's head office is in Calgary, Alberta and
operations office is in Adelaide, South Australia.
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.
For further information:
Susan Showers, Manager, Investor Relations
Suite 320, 715 5 Ave. SW, Calgary, Alberta, Canada T2P 2X6
Telephone: (403) 718-0366
Toll Free: (877) 822-7280
Fax: (403) 718-3888