Replies to post #90 on PetroFrontier Corp (PFC)

[ariadndndough]

We rate PetroFrontier as SECTOR OUTPERFORM with a target price of $5.00. The Company has a high exploration/geological risk, but also a potentially high reward investment opportunity. The Company’s lands contain an estimated 25.6 billion bbls (at 100% WI) of unrisked Prospective Resource (Best Case). Success, particularly in the unconventional opportunity, could have tremendous scalability for the Company.
Highlights: Frac operation are substantially complete on the three wells – but with difficulties on two, only one will proceed to the testing stage at the moment, with the other two to follow but likely not until Q1/13. Technically, the Company does not have any new information yet on the potential of these wells, but the testing process for two of the three wells will now take longer than previously expected
Read more at http://www.stockhouse.com/bullboards/messagedetail.aspx?p=0&m=31652096&l=0&r=0&s=PFC&t=LIST#gVh1OT3WIivBEvfQ.99

[JB3729]

I called PFC investor relations yesterday. Susan Showers just called me back. She said she wasn't returning calls yesterday due to the PR that was out today.

Susan said the flow testing of Owen 3 would start immediately. We may not know the results for 3-4 weeks though. She said they want to flow the well for an extended amount of time in order to find out exactly what they have.

The plan for 2013 -

Complete the other 2 wells.

They are considering drilling stratigraphic wells next year in order to identify sweet spots. Smaller, more mobile rig(s) could be used to punch these holes. There are only about 15 rigs in Australia capable of drilling horizontal wells. These rigs are tough to contract and very expensive. PFC and partners are considering buying their own rig to drill the sweet spots in 2014 and beyond.

Susan seems very knowledgable and was a pleasure to talk to.

JB