CALGARY, May 30, 2012 /PRNewswire/ - (TSX-V: PFC) -
PetroFrontier Corp. ("PetroFrontier") is very pleased to announce
that Ensign's Rig 918 is currently mobilizing to the MacIntyre-2
well site location in the northeastern corner of EP 127 in the
Southern Georgina Basin, Northern Territory. It is expected that
the Ensign drilling equipment will be onsite by early June 2012 and that the Southern Georgina Basin
operational activities will resume during the week of June 4, 2012.
This first phase of the 2012 capital program will focus on the
drilling of the horizontal leg at MacIntyre-2, which is expected to
take approximately two weeks. Once the drilling is completed,
PetroFrontier will have earned a 75% working interest and
operatorship in EP 127.
After drilling MacIntyre-2H, the Ensign rig will re-locate
approximately 300 km to the eastern border of EP 104 to drill a
high angle pilot hole at the third location, Owen-3 in EP 104 (100%
working interest) and if PetroFrontier considers conditions to be
favorable, a subsequent horizontal section at that same location.
Mobilization of Ensign Rig 918 to the Owen -3 well site is
anticipated to take one week, with the expected drilling timeline
for the vertical and horizontal sections at Owen-3H being
approximately four weeks.
Subsequent to this drilling activity, the second phase of the
2012 capital program will commence with the mobilization of a coil
tubing unit and service rig for the completion, fracturing and flow
testing of Baldwin-2Hst1 (EP 103),
MacIntyre-2H (EP 127) and Owen-3H (EP 104), in that order. Both the
Baldwin-2Hst1 and the MacIntyre-2
wells encountered very encouraging hydrocarbon responses while they
were being drilled in the latter part of 2011. This type of
unconventional oil play requires the use of advanced horizontal
drilling and completion techniques to be economic, and the use of
proven North American technologies is expected to give
PetroFrontier a good chance of establishing commercial
production.
About PetroFrontier Corp.
PetroFrontier is an international oil and gas company engaged in
the exploration, acquisition and development of both conventional
and unconventional onshore 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 onshore exploration in the
Southern Georgina Basin in Australia's Northern Territory.
PetroFrontier's head office is based in Calgary, Alberta and 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 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.