PetroFrontier Corp. announces seismic program on Southern Georgina Basin, Australia
CALGARY, July 22, 2013 /CNW/ - (TSXV: PFC) - PetroFrontier Corp. ("PetroFrontier") announces that it has begun recording the "AMY" 2D proprietary seismic acquisition program (approximately 385 km in length) on its four exploration permits ("EP"), EP 103, EP 104, EP 127 and EP 128, in the Southern Georgina Basin, Northern Territory, Australia.
This seismic survey, contracted to Terrex Seismic of Australia, will fulfill the Northern Territory government work commitments for permit retention, will delineate the southern and northwest basin margins and help outline prospective hydrocarbon target areas. PetroFrontier and its partners, Statoil Australia Theta B.V., a wholly owned subsidiary ofStatoil ASA ("Statoil") and Baraka Energy & Resources Limited, will interpret the data gathered to target conventional hydrocarbons in the Cambrian Thorntonia and other formations and unconventional hydrocarbons in the Lower Cambrian Arthur Creek Formation. The most promising areas will be seismically mapped out and the data will aid in identifying locations for exploration wells to be drilled as part of the 2013/2014 capital exploration program in the Southern Georgina Basin.
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, statements pertaining to its capital exploration program and 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.
