CALGARY, Jan. 24, 2012 /PRNewswire/ - (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 overall costs.
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 order.
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".
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.