PetroFrontier Corp (PFC)

[JB3729]

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:

The good news is that Heritage must be close to 20% ownership of PFC. That means they should keep Statoil honest should their be success followed by buyout offer. Heritage may be ultimate bidder topping Statoil. Time will tell.

Regarding the private placement the insiders more than tripled their ownership. At 12/31/11 Jespersen only owned 28,700 shares --He purchased 115,385 shares abd received 115,385 warratnts Rae owned 135,000 He purchase 384,615 shares and received same in warrants Buckee owned 484,000 and purchased additional 769,231 shares and received same warrants

McGoldrick owned 185,000 at 12/31/2011 and purchased 200,000 shares and received like warrants. He previously purchased 100,000 in open market on June 28, 2012 at $ .72 to $.77

Buckee is former CEO and President of Talisman Energy. Retired in 2007. McGoldrick retired from Jennings Capital in 2006.

See all the increases in insiders ownership in Petrofrontier here
www.canadianinsider.com/node/7?ticker=PFC

At todays close, PFRRF is valued at aproximately $74mm. It's likely that PFRRF, with their 35% WI and 4.7mm net acres, will be carried for 4 years by the $210mm Statoil farm-in. The 35% of $210mm is worth more than PFRRF's market cap. Shouldn't PFRRF recieve some value for the 3 wells that have been drilled, the seismic that has been shot, and their 4.7mm acres?

JB