Frontier Energy to Purchase up to 20,000 Acres in Western U.S.
Tuesday May 20, 10:34 am ET
NORTH LAS VEGAS, NV--(MARKET WIRE)--May 20, 2008 -- Frontier Energy Corporation (Other OTC:FRGY.PK - News) is pleased to announce today that it is increasing its portfolio of prospects to include up to 20,000 acres located in a Western U.S. state. Per our last PR from March 28th, we are now in the acquiring stage and are conditioned on financing and resource availability.
Based upon our geologist's initial reports, the prospect has been estimated to have potential reserves of 50,000,000 barrels of oil for the entire prospect. Frontier Energy will have a 75% working interest in this prospective lease. This information has not been proven yet and further reports and work will have to be done to confirm these numbers in detail once the acquisition is complete.
To ensure the success of this prospect, Frontier has begun working with a well established venture capital corporation to fund the initial exploration and the ability to drill its first well on the property. "We are extremely excited about this acquisition and its potential that it brings to our shareholders," stated Mr. Robert Genesi, CEO of Frontier Energy. "In addition, we will shortly update our shareholders on our other leases as well as corporate activity."
About Frontier Energy Corp.
Frontier is an exploratory oil and gas business headquartered in Las Vegas, Nevada. The goal of Frontier Energy is to build a solid portfolio of assets through the acquisition of leases and explore and develop the opportunities on the individual leases.
Except for the historical information presented, the above statements are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 or regulations there under. These forward-looking statements are subject to risks and uncertainties, and actual results may differ materially. These risks include the economic health of the oil and gas industry, competitive pricing pressures, completion of possible acquisitions, success at integrating and operating any acquired operations and the availability of necessary financing. These statements speak only as of above date, and Frontier Energy Corp. disclaims any intent or obligation to update them.
Contact:
Contact:
Frontier Energy Corporation
Eddie Monet
619-864-0166
News 
Market Data 
Discover 
AI
