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Thank you.."Do I see it as a possibility,etc."? Yes.I do,but not as a "probability",certainly not some considerable time..
In the interim,through Phases 1-2-3,over a projected period from 2012 until 2016,Statoil will ultimately control almost 40% of EP's 127,128,and 52% of EP's 103,104,and the yet to be granted EP,s 213 & 252.
It does need to be appreciated that the vast majority of PFC's costs will be covered,eventually, by Statoil,therefore the pressure for PFC to find the necessary funding will be reduced..
If you are in a position to re-read some of the geological reports from earlier years,it becomes quite evident that the
75sq.km area,(around the Elkedra-7A well,in EP128),is the sweet spot.
PFC/Statoil have been excluded from this area by BKP,who are the J.V.'s partner in the 3 phases..
To sum up,the Southern Georgina Basin is Australia's answer to the Baaken shales,and as this realization sinks in,we will see the demand for exploration increase exponentialy..
The major stumbling block to "oil patch" development,in this area,is the almost total lack of infrastructure..
Welcome from this side too Rob.Do you see it as a possibility Statoil "swallow up" PFC?
Thank you for the welcome note...
As regards the possibility of PFC being being bought out,I guess that is always possible.. However the existing arrangements with Statoil,would,I believe,preclude that happening,for the immediate future,at least...
Statoil appear to have "locked in" PFC for the next three years
into an arrangement that will ensure exploration for that time period,through Phases,1-2-3..
As the exploration program advances to a production status, then the capital requirements may necessitate a closer tie-up between PFC and Statoil..
At present there is both a Railway and an under-utilized gas pipeline running North-South,approximately 400kms west.
The question of cost would almost ensure that,if gas production volumes warranted,then a series of "gathering pipelines" taking gas westwards to the existing pipeline,and liquids being trucked to Perth,(the Kwinana Refinery), would probably be the logical way to go..
Welcome to the board robjb5. We could use some new blood here.
My thought was that a RR could operate year round and allow for some production until there's enough production for a pipeline.
I read that the Alaska Pipeline will have to be shut down when volume falls below 300,000 barrels a day. It seems that the pipeline won't flow efficiently unless it has that much volume or more. Maybe the Alaska weather is the reason for this. I'll have to look into pipelines in more detail.
PetroFrontier may be bought out before there is any production. What are your thoughts on this?
JB
The current three wells would initially,probably involve road tankers from the wellheads to the existing North-South railway.
A distance of some 400kms..This will probably be the means of disposing of product from the flow tests...
If this eventually evolves into a producing area,then the obvious means of getting the product to market would be via a pipeline to the N/S railway, with a purpose built gathering facility...
Counting down to discovery news.
Should a large discovery be made, it could be shipped via rail to refineries. Statoil is doing this with the Bakken oil -
Bakken crude fetched a premium to WTI in September
http://online.wsj.com/article/SB10000872396390443635404578036631081423440.html
Quote:
The average Bakken discount since November 2011 was $7 below U.S. crude benchmark West Texas Intermediate, and reached $28 in February, according to Platts data. But in September, Bakken oil prices traded at a premium to WTI for the first time in nearly a year, and some analysts say the premium could continue for another year.
…Much of the credit goes to the newly developed system of rail lines and terminals built by Tesoro Corp., EOG, Statoil, ASA and others, which have started hauling the crude from its geographically isolated source to refineries all over the country.
… Oil production from the shale formation reached 675,000 barrels a day in July, an all-time high and more than twice as much as could be carried by pipeline, according to the latest data from the North Dakota Department of Mineral Resources.
But as more rail lines and terminals have been built in North Dakota and surrounding states, Bakken oil has still become available to more buyers, boosting its price. Statoil said in August it is leasing more than 1,000 railroad cars to carry crude oil from North Dakota to refiners across North America. Railroad crude-takeaway capacity has more than doubled in the past year, to about 400,000 barrels a day…
JB
I tend to agree with you JB-weather permitting,of course.
The rainy season will begin when it wants to.Hopefully later this year!
http://www.bom.gov.au/nt/index.shtml
http://www.bom.gov.au/climate/ahead/rain.naus.shtml
Keeping my fingers crossed,and waiting on positive results-
futr
This was posted today on SH -
No update, this is what I'm hoping for -
Quote:
--------------------------------------------------------------------------------
Here's what I got from Ms Showers. I'm still not clear if they'll manage to flow test before the rains:
- the frac crew is expected to arrive next week and will begin with the MacIntyre-2H location. I have attached our recent press release from the Owen-3 Vertical location which is very promising at this stage; we are in the process of completing the horizontal leg which we expect to be finishing by the end of the month.
We had decided that we less is best re the technical information we provided. The Baldwin release discussed some very positive results but was perceived as a gas play where in fact we really are not sure if it is “oily gas” or “gassy oil”; better results with MacIntyre though but the frac’ing with be the telling tale so would expect plenty of news flow in the next 3 months as we expect to frac all three wells prior to the onset of the Northern Territory’s wet season.
--------------------------------------------------------------------------------
This shows fracturing and completion durations: http://www.ndoil.org/?id=184 (click #10)
1. Equipment mobilization and set up – 7 days;
2. Service rig work – 3 days;
3. Hydraulic fracture – 5 days of 24 hour/day operation;
4. Initial production and well flow back – 3 days of 24 hour/day operation;
5. Frac plug drill out – 4 days of 24 hour/day operation
6. Install production equipment, including tank batteries, pump jack, controllers and power connections – 4 days
With the frac crew expected to arrive 8/19 - 8/25, They should have started on 8/27 at the latest. Allowing 2 days for #1, 3 days for #2, and 5 days for #3, a well could be fracked in 10 days. Figuring 2 days for travel between wells and 5 days for time off and, or, delays, all 3 wells may be fracked by 10/2.
#4 only takes 3 days. Not sure if #5 will be done. Figuring that it will be, the completion for each well can be done in 7 days. Again, adding 2 days for travel between wells and 5 days for whatever, all 3 wells may be completed by the end of October.
JB
Any update on when we might get and update? TIA
Well, I don't know about the rest of you, but, I'm ready for the good results from Owen-3.
JB
Great job on the I-Box 'tamtam' appreciate your effort!
futr
Thanks for the chart, I believe it's updating itself. A similar one should be in the iBox IMO
TT
You're not the only one who's facinated by exploration programs and PFC could be a great player in the near future IMO
Tamtam
EXcelent DD eom7, thanks
Tamtam
PFC wells mentioned - AUCAF.24 -ACOR Obtains Renewal For ATP 582, Covering 5.0 Million Acres In The South Georgina And Simpson Desert Basins In Queensland, Australia
Sep 25, 2012 8:30:00 AM
Close Ad
CISCO, Texas, Sept. 25, 2012 /PRNewswire/ -- Australian-Canadian Oil Royalties Ltd. (OTCBB: AUCAF) ("ACOR" or "the Company") is pleased to announce that its wholly-owned subsidiary Cooper-Eromanga Oil Inc. ("CEO") has received a renewal from the Queensland Department of Natural Resources and Mines for Authority To Prospect Number 582 ("ATP 582").
(Logo: http://photos.prnewswire.com/prnh/20120301/DA62510LOGO)
ATP 582 covers more than 5.0 million acres in the South Georgina and Simpson Desert Basins in Queensland, Australia. The South Georgina Basin has recently received considerable industry attention with the drilling of the first horizontal multi-stage fracture stimulation wells in the Northern Territory. One of the wells to be tested is immediately offsetting the boundary of ATP 582. These wells are designed to test the Arthur Creek "Hot Shale," which has technical similarities to tight unconventional hydrocarbon reservoirs in the United States and Canada. The results of these wells are anticipated by the end of this year will assist in establishing the prospectivity and resource potential of ATP 582.
More than 20 wells have been drilled on, and in the vicinity of ATP 582 in both Queensland and the Northern Territory, which establish the regional configuration of the South Georgina Basin and the depositional trends of the formations within it. Mirrica-1, drilled on ATP-582 in 1980, encountered a much thicker Arthur Creek Formation, including a thicker "Hot Shale," than the original Owen-2 well, drilled in 1990, and currently being re-drilled immediately adjacent to ATP 582 on the Northern Territory portion of the basin. This overall basinward thickening of the Arthur Creek over ATP 582 is thought to substantially improve its hydrocarbon potential. ATP 582 is also basinward of the Ethabucka-1 well, drilled in 1974,which tested 200 mscf per day (approximately 30 barrels of oil equivalent per day) of dry gas from a shallower zone. This well was abandoned due to drilling problems before reaching the Arthur Creek shale and represents the only well, to date, to successfully recover hydrocarbons in the South Georgina Basin.
The renewal term is for a period of 4 years, expiring July 31, 2016. ACOR has initiated the design and planning for the first period seismic program, which it expects to acquire in the first and second quarters of 2013. The results of this seismic program will determine the locations of the first two wells, which the Company currently anticipates drilling in the third and fourth quarters of 2013.
We seek safe harbor.
For further information on ACOR, please visit our website at www.aussieoil.com, e-mail acorltd@suddenlink.net or call:
1-254-442-2638 (Office)
1-800-290-8342 (Toll Free in the United States)
Forward-looking statements
Certain of the information contained in this press release constitutes forward-looking statements under applicable securities law. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may," "should," "anticipate," "expects," "seeks" and similar expressions.
Barrels of Oil Equivalent Disclaimer
Barrels of Oil Equivalent ("BOE") are derived by converting gas to oil in the ratio of six thousand cubic feet of gas to one barrel of oil (6 Mcf : 1 bbl). BOE's may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf : 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the well head.
SOURCE Australian-Canadian Oil Royalties Ltd.
Oil Exploration remains a high risk/high reward Speculation-
I suspect that explains my fascination for the subject-
http://www.petrofrontier.com/en/documents/PFC-2011-03-21-analystcoverage-JenningsCapitalInc.pdf?PHPSESSID=8f6jvqfuiaip6vjmrg675cqua1
Good luck to ALL the Longs-
futr
jb nice job adding when you did. bid looks real good today.
goodluck to us
dough
I nearly doubled my position this morning
Statoil bought in -
Heritage bought in again -
Company officers bought in again -
I bought in again!!!
Here's a post from SH:
Agree 'JB' that is encouraging-
Heritage bought heavily last year at $3!
Sky's the limit here should the shale prove economic.
futr
Heritage Oil and Company officers buy into PP
Good to see this oil company buy more. Heritage already owned > 10% before the PP.
http://www.canadianinsider.com/node/7?menu_tickersearch=pfc
JB
Day Onsite With Statoil...
Repost from IV:
I understand that Statoil has three people on site in Australia......
http://www.investorvillage.com/smbd.asp?mb=17535&mn=32&pt=msg&mid=12105215
JB
Possible update next week
Repost from SH:
Here's the latest I got today from Ms Showers re whether or not fracking has started, since I was getting concerned over the time frame:
Frac’ing has begun and we hope to have an update out early next week. We expect to have all 3 wells frac’d and flow tested prior to the onset of the wet season, which should be by mid-Nov. The equipment necessary for these operations is much smaller and therefore not as much of a detriment should we get caught in some wet weather, easier to move than a double drilling rig. The weather last year wasn’t bad at all and so we hope for the same allowing us to push into November.
PetroFrontier planned to flow test Owen-3 first, after all 3 wells are fracked. Maybe we get Owen-3 flow test results in early October.
JB
Looks like it!
.72 ask finally gone?????
Good historical regional info included in that report-
futr
Proactive Investor's report on partner Baraka Energy
Petro Frontier, Statoil, and pictures included:
http://www.barakaenergy.com.au/pdfs/2012-09-04-080305Baraka_Energy_Resources_Proactive_Investors_Update_article_5Sept12.pdf
JB
Partner BKP gives operatioal update
During the drilling of the horizontal section at Owen-3H, numerous positive hydrocarbon indicators were observed including:
· Oil staining
· Milky yellow fluorescing cut
· Strong gas recordings of C1 to C5
· Petroliferous odour
· Oil spots in the mud at the shaker
Possted on SH on 9/5/12:
Baraka Energy & Resources Ltd (ASX:BKP, RBD:GR)(“Baraka” or “ the company”), advises that its Joint Venture partner has released an update regarding MacIntyre-2(EP 127), Baldwin-2Hst1 and the Owen-3H.
MacIntyre-2H
Completion operations at Baraka Energy & Resources horizontal well, MacIntyre-2H located in EP 127, Northern Territory, Australia are currently underway but not yet completed.
Owen-3H
PetroFrontier’s third horizontal well, Owen-3H, located in EP104, Northern Territory, Australia has successfully reached total depth. Final measured depth of the well was 2,153 metres, of which the horizontal section was 966 metres targeting the Lower Arthur Creek and Upper Thorntonia Formations. A multistage open-hole completion string has now been placed in the well in preparation for a completion program targeting the Lower Arthur Creek and the Upper Thorntonia Formations.
During the drilling of the horizontal section at Owen-3H, numerous positive hydrocarbon indicators were observed including:
· Oil staining
· Milky yellow fluorescing cut
· Strong gas recordings of C1 to C5
· Petroliferous odour
· Oil spots in the mud at the shaker
On August 9, 2012, PetroFrontier announced that a total of 32.5 metres of core was cut and retrieved from the Owen-3 inclined wellbore. Core evaluations are ongoing and PetroFrontier is encouraged by the initial assessment of these cores, which seeped oil upon retrieval and had extensive fluorescence throughout. The well was also wire line logged with equally encouraging results indicating over 25 metres total of vertical thickness of hydrocarbon bearing formations.
PetroFrontier is very pleased by the results to date and the fact that its three horizontal wells (MacIntyre-2H, Baldwin 2-H and Owen-3H) have shown very encouraging oil and gas indications. The completion and testing results from these three wells have the potential to add significant value for PetroFrontier shareholders. However, readers are cautioned that no reserves have been proven to date by any of these wells.
These results are excellent for both companies as Owen-3 located on the EP104 eastern boundary is directly north of Baraka’s EP127 south eastern boundary (where BKP holds a undivided 25% working interest), meaning Baraka can place a lot of weight on the EP127 south eastern area displaying similar or identical results if and when any drilling programs in that area are embarked on in the future.
We look forward to an exciting couple of months with results from all three wells due by the end of the year, prior to the wet season kicking off in the Northern Territory, Australia.
Baraka had in May 2011 engaged Proactive Investors to provide a Research Report(displayed on our website) which contained estimates and forecasts, extrapolated from information on the Company that is already in the public domain. Proactive Investors have now completed a new article based on updated events of which will be circulated globally.
It is highly recommend this new article be read in conjunction with the previous Research Report(17/5/2011), these articles can be found on our website www.barakaenergy.com.au on the ‘Reports & Presentations’ page under the ‘News Centre’ Tab.
About Baraka Energy & Resources Ltd
Baraka is an Australian ASX listed company focused on identifying, exploring and developing Energy & Resource assets within Australia and globally. Baraka has an undivided 25% working interest in both EP 127 and EP 128 including a 75% undivided working interest in the 75km² around the Elkedra-7 well on EP128, Southern Georgina Basin, Northern Territory, Australia. Baraka’s head office is in Perth, Western Australia.
END
PetroFrontier may have been backed into a corner when Macquarie terminated the bought deal financing. This from the MD&A released on 8/28/12:
PETROFRONTIER CORP. PROVIDES
OPERATIONAL AND CORPORATE UPDATES
Calgary, Alberta – September 4, 2012 (TSX-V: PFC) - PetroFrontier Corp.
(“PetroFrontier”) is very pleased to provide the following operational and corporate updates.
Operational Update
MacIntyre-2H
Completion operations at PetroFrontier’s second horizontal well, MacIntyre-2H located in EP 127, Northern Territory, Australia are currently underway but not yet completed.
Owen-3H
PetroFrontier’s third horizontal well, Owen-3H, located in EP 104, Northern Territory, Australia has successfully reached total depth. Final measured depth of the well was 2,153 metres, of which the horizontal section was 966 metres targeting the Lower Arthur Creek and Upper Thorntonia Formations. A multistage open-hole completion string has now been placed in the well in preparation for a completion program targeting the Lower Arthur Creek and the Upper Thorntonia Formations. During the drilling of the horizontal section at Owen-3H, numerous positive hydrocarbon indicators were observed including:
? Oil staining
? Milky yellow fluorescing cut
? Strong gas recordings of C1 to C5
? Petroliferous odour
? Oil spots in the mud at the shaker
On August 9, 2012, PetroFrontier announced that a total of 32.5 metres of core was cut and retrieved from the Owen-3 inclined wellbore. Core evaluations are ongoing and PetroFrontier is encouraged by the initial assessment of these cores, which seeped oil upon retrieval and had extensive fluorescence throughout. The well was also wire line logged with equally encouraging results indicating over 25 metres total of vertical thickness of hydrocarbon bearing formations.
PetroFrontier is very pleased by the results to date and the fact that three horizontal wells (MacIntyre-2H, Baldwin 2-H and Owen-3H) have shown very encouraging oil and gas indications. The completion and testing results from these three wells have the potential to add significant value for PetroFrontier shareholders. However, readers are cautioned that no reserves have been proven to date by any of these wells.
Corporate Update
PetroFrontier is conducting a non-brokered private placement of up to 15,384,615 units (“Units”) of PetroFrontier at a price of $0.65 per Unit for gross proceeds of up to $10,000,000 (the "Offering"). Each Unit consists of one common share (“Share”) and one common share purchase warrant (“Warrant”). Each Warrant entitles the holder thereof to acquire one additional Share upon payment to PetroFrontier of $0.90. The Warrants will expire on September 8, 2014 (the “Warrant Expiry Date”), unless the volume weighted average trading price of the Shares on the TSX Venture during the 10 consecutive trading days immediately prior to the date for which such calculation is made of the Shares is greater than $1.125 (the "Trigger Event"). If a Trigger Event occurs, the Warrant Expiry Date shall be accelerated to 30 business days from the Trigger Event date.
The first closing (the "First Closing") of the Offering is expected to occur on September 7, 2012 and will consist of the sale of a minimum of 6,921,002 Units to arm’s length parties for total proceeds of $4,498,651.30 for which binding subscription agreement have been entered into. The First Closing is conditional on PetroFrontier having subscription agreements of at least $1,200,000 in place for the Second Closing (as defined below) and PetroFrontier may extend the First Closing to no later than September 12, 2012. No commission, fees, options or similar compensation will be paid by PetroFrontier in connection with the Units sold pursuant to the First Closing.
The second closing (the "Second Closing") of the Offering is expected to occur on September 14, 2012. Officers, Directors and advisors of PetroFrontier have agreed to participate in the Second Closing by purchasing approximately 1,846,154 Units (for a total subscription price of $1,200,000).
Proceeds from the Offering will be used to fund the remainder of PetroFrontier’s 2012 joint capital expenditure program with Statoil Australia Oil & Gas AS and for general corporate purposes. The Offering is subject to regulatory approval, including the approval of the TSX Venture Exchange. The securities sold in conjunction with the Offering will be subject to a four month hold period.
JB
Statoil Known for Best of Breed Oilfield Technology-
http://www.statoil.com/en/Pages/default.aspx
Couldn't ask for a better partner.
futr
Recent newsletter on the Bakken (Shale in North Dakota) includes comments about a Brigham & Statoil and is found at
http://seekingalpha.com/article/839821-bakken-update-buyout-candidates-for-the-second-half-of-2012?source=email_authors_alerts&ifp=0
nice find. i think haywood is pretty respectable.
not long to wait thats for sure.
From IV - Target: $5.00
Haywood
PetroFrontier Corp. (PFC-V, $0.72)
SECTOR OUTPERFORM; Target: $5.00; Risk: SPECULATIVE
Frac Operations Commencing in September
Valuation: We rate PetroFrontier as Sector Outperform with a target price of $5.00. The Company can be characterized as having high exploration/geological risk, but is a potentially high reward investment opportunity. The Company’s lands contain an estimated 25.6 billion bbls (before Statoil farmin) of unrisked Prospective Resource (Best Case to its interest). Success, particularly in the unconventional opportunity, could have tremendous scalability for the Company.
Highlights: As of June 30, 2012 PetroFrontier had working capital of $13.9 million, down from $21.0 million at March 31, 2012 due to drilling activity in the quarter. Assuming no cost overruns PetroFrontier has sufficient funds to meet its plans to complete the drilling of Owen 3H and complete (with fracks) the three wells drilled. Drilling of the 3,280 horizontal leg of the Owen 3H well is expected to finish within days. All three wells will have been drilled and are waiting on completion.
PetroFrontier has equated the Southern Georgina Basin "Hot Shales" to the Bakken.
Two Bakken related articles out today:
Looking forward to the announcement of test results along with everyone else!
Next two months here should reveal whats lurking within our "hot" shale play!
futr
The frac crew was expected to arrive last week.
So, yes!
I'm wondering if this same crew will do the well completions once all three wells are fracked. The plan is to frac Owen-3 last. Then it will be the first well flow tested. I'm thinking that this crew will do both.
JB
Do you think they already started Frac'ing?
She's a PFC roughneck!
JK,
Susan Showers
Manager, Investor Relations
T: 403.718.0366
T: 1.877.822.7280
info@petrofrontier.com
JB
Who is Ms Showers... if you don't mind getting me up to speed. TIA
Repost from SH
richlund, you wrote ...
Welcome aboard doug!
Indications are real good that PFC will flow oil. If that happens, we should see a lot of upside.
The 500,000 share ask at .72 is puzzling. If somebody really wanted to sell that much, they wouldn't put it all out there at once and scare the buyers away.
I'd call Fidelity trading and ask for their thoughts, but, I already know, from past calls, they'd tell me they can't give an opinion or tell me what they think is happening.
I think a Market Maker has a large short position he wants to cover. The phoney 500,000 ask has capped the share price upside at .72. When a shareholder enters a sell at .72, the MM buys to cover his shorts. When a buy is placed at .72, the MM adds these shares to his short position. I've noticed that a lot of shares traded at .72 today and the 500,000 share ask remained the same.
The MM logic would be that the huge ask will cause more selling than buying. In the unlikely event that there is more buying than selling, the MM would pull the phoney ask. Also, Company news could force the MM to pull the huge ask.
All IMO, of course.
I wouldn't be surprised if I'm wrong.
JB
I just saw it Thursday...
eom7, do you know how long has that huge seller(s) at .72 on PFC.V has been around?
It sure is strange to show a 499,500 share sell on a stock that has an average 10 day volume of 92,000.
It seems to me that someone is trying to block the price from going higher in order to accumulate down here.
Does anybody have any thoughts on this?
JB
jb i am a stockholder as of today thanks for the info.
dough
http://www.ogj.com/articles/2012/08/georgina-basin-shale-cores-fluoresced-bled-oil.html?sponsored=topic6&cmpid=EnlLNGAugust142013
Nice post I couldn't agree more.
FYI - AUACF .22 is their neighbor to the south of the Owen3 well. If any of the three wells hit especially Owen3 - AUCAF should get some nice attention IMO!
Thanks for that, douginil.
I was wondering about the Brigham connection.
The Statoil buy:
http://www.bloomberg.com/news/2011-10-17/statoil-to-buy-outstanding-shares-of-brigham-exploration-for-36-5-a-share.html
PetroFrontier compares their land holdings to the Bakken: This "Hot Shale" is interpreted by management as having similar geological features to the unconventional Bakken play found in Saskatchewan, Canada and North Dakota, USA.
http://www.petrofrontier.com/index.php?page=company_profile
Seeking Alpha article on Brigham Exploration:
The speaker mentioned the key point that Brigham had drilled 79 consecutive North Dakota wells, each with an average IP (Initial Production) of 2,800 boe/d (barrels of oil equivalent per day). This average is quite impressive for the area, making them a key player.
http://seekingalpha.com/article/296698-brigham-exploration-company-s-bright-future
JB
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PetroFrontier has an average working interest of 87% in 14.1 mm gross acres of land in what management believes to be the most prospective hydrocarbon region of the Southern Georgina Basin. The hydrocarbon window within these lands ranges from oil mature to gas mature.
These lands cover four Exploration Permits: EP 103, EP 104, EP 127 and EP 128 and Exploration Permit Applications: EP 213 and 252. The permits are relatively close to oil and gas markets and infrastructure with a gas pipeline to the north coast, rail connections north and south and public roads to a refinery at Alice Springs.
Permit/License | Working Interest | Gross Acreage (acres) |
EP 103 | 100 % | 3.16 million |
EP 104 | 100 % | 2.55 million |
EP 127 | 75 % | 3.90 million |
EP 128 | 75 % | 3.95 million |
EPA 213 | 100% | TBD |
EPA 252 | 100% | TBD |
PetroFrontier's strategy is two-fold -- to unlock unconventional and conventional resources in the basin:
1. To maximize the hydrocarbon potential of the Southern Georgina Basin in the oil rich
Arthur Creek "Hot Shale" through unconventional drilling and completion technologies.
2. To test identified conventional carbonate ramp and sandstone prospects in the basin.
Long range exploration planning includes accurately defining the regions of oil and gas maturity within the basin so as to target exploration efforts to the most liquid rich hydrocarbon areas and areas with the best flow rates.
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