PetroFrontier Corp (PFC)

[JB3729]

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:

With current working capital on hand, the Corporation expects to have adequate funding to provide for general operations and to meet the Corporation’s minimum work requirements with the government of the Northern Territory of Australia for a period of at least 12 months. However, the Corporation intends to raise additional capital during Q3 or Q4 of 2012 in order to expand its operations and capital expenditure programs beyond the minimum work requirements, including the fracture stimulation of the Corporation’s three wells in 2012. If the Corporation is unable to obtain sufficient financing to conduct the full capital program, the Corporation has the ability to curtail its capital expenditure programs.

So, it looks like there would have been no fracking and well completions without this PP.

The Macquarie mess could take a long time to settle. I'm tempted to buy more, probably will if I can get them for .60.

JB