International Frontier Resources Corporation: Central Mackenzie Valley, NWT Land Sale
05 Juillet 2011 - 2:31AM
Marketwired Canada
International Frontier Resources Corporation ("IFR" or the "Company") (TSX
VENTURE:IFR) today reported that the Minister for the Department of Indian
Affairs and Northern Development has awarded 11 licenses covering 897,890
hectares (2,218,735 acres) located in the Central Mackenzie Valley ("CMV")
Northwest Territories for combined work commitments of $534 million. Proponents
of the Mackenzie Valley gas pipeline were awarded six licenses comprised of
Shell Canada Limited (3 licenses), Imperial Oil Resources Ventures Limited (2
licenses) and ConocoPhilips Canada Resources Corp. (1 license). Husky Oil
Operations Limited was awarded 2 licenses for a work commitment of $366 million.
IFR holds an interest in 3 significant discovery licenses ("SDL") in the CMV,
the SDL's are held by proven oil and gas reserves. In addition the Company holds
an interest in 3 freehold parcels covering approximately 25,000 gross acres in
the CMV. Husky Oil Operations Limited is the operator of the SDL's and the
freehold parcels.
The Company's bid for the parcel it posted at this year's land sale in the CMV
was not successful.
For additional information on the company please visit
www.internationalfrontier.com.
The Company seeks safe harbor.
China Minerals Mining Corporatio (TSXV:CMV)
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