International Frontier Resources Corp (Ifr)

International Frontier Resources (TSX Venture - IFR) is a publicly traded company with interests in oil and gas resource projects in Canada, the United States, and Mexico. With projects located in the Northwest Territories, Southeast Alberta, North West Montana, and along the Gulf Coast of Veracruz state we are seeking to advance the development of our projects. ProjectsMexico: International Frontier was an early identifier of the Mexican oil and gas opportunity and has now achieved its initial goals which are as follows: *Partner with an experienced local operator;*Set up a 50 /50 jointly owned Mexican company with its partner; and*Participate in bidding and win an onshore license in Round OneOn October 1st 2015, IFR was pleased to announce that it had entered into a strategic joint venture agreement with Mexican petrochemical leader, Grupo Idesa S. A. de CV ("IDESA"). IFR, through its Mexican subsidiary Petrofrontera, and Grupo Idesa formed a 50 /50 joint venture company in Mexico "Tonalli Energia, S. A. P. I de C. V. "On May 12, 2016 Tonalli Energia was notified by the Mexico Comision Nacional de Hidrocarburos (CNH) that it had been awarded the Onshore Oil and Gas Development Block 24 (Tecolutla Block) with an incremental royalty of 31. 22% . The Tecolutla Block is a 7. 2 km2 block in the Tampico-Misantla Basin located within the state of Veracruz. The producing carbonate oil reservoir in the Tecolutla Block is the El Abra formation at a depth of 2, 340 meters. The team has re-evaluated the field using existing well control and 3D seismic and believe that horizontal drilling and workovers will yield daily production results that exceed the historical peak production of 900 barrels per day and significantly increase recoverable reserves.
Social Link - Twitter: https://twitter.com/IFR_Corp
Social Link - Facebook: https://www. facebook.com/IFRCorp /
Social Link - Linkedin: http://www. linkedin.com/company Count: 3
Keywords: oil & energy