Replies to post #166 on PetroFrontier Corp (PFC)

[Tamtam]

Thanks futrcash , reading between the lines it will probably take a while before we see an uptick. Hopefully I'm wrong
Tamtam

[eom7]

AUCAF. 11 – 2.4 billion barrels of recoverable liquids and gas in these zones within ATP 582.

ATP 582 is the largest on shore permit in Queensland, comprising 5.0 million acres over portions of the Southern Georgina Basin and the Simpson Basin. Both basins are largely unexplored by North American standards, and bothare thought to be highly prospective for unconventional hydro-carbon resources.

As a result, large financial commitments have been made by world-class majorsincluding Statoil, Total and Santos on lands immediately offsetting ATP 582 in both basins.

It is the Hot Shale zone that is present throughout most of the [SOUTHERN]Georgina Basin, including the Dulcie Syncline area in N.T. and the Toko Syncline in QLD. It is this zone that is currently being evaluated by Petrofrontier and Statoil (up to $210.0 million combined work program) and to which independent evaluators have assigned considerable prospective resources. Within ATP 582, Ryder Scott has assigned 4.1 Tcf of recoverable prospective resources to the Hot Shale, however, it is the aforementioned log-defined source rock not present in the NT portion of Southern Georgina Basin that is of the primary interest to the Company. This zone has TOC of 1 to 2% and is thought to be not only prospective on its own, but also to be the source of the hydrocarbon shows observed in Mirrica, Netting Fence, and Todd wells. Management estimates 2.4 billion barrels of recoverable liquids and gas in these zones within ATP 582.This is the geological model shared by Central Petroleum Ltd. and Total, who have committed up to $190.0 million to the adjoining permits held by Central Petroleum Ltd. and who have likened the Arthur Creek to the highly prolific Vaca Muerta shale being exploited in Argentinaat present.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=88025910

[eom7]

Outlook
As at March 31, 2013, the Corporation had a working capital surplus of $11,326,337 with no debt. The
net exploration and evaluation asset expenditures incurred during the three months ended March 31, 2013
totaled $35,129 relating primarily to long lead item expenditures and planning costs associated with the
Corporation’s upcoming 2013 capital expenditure program in the Southern Georgina Basin.
During the first quarter of 2013, the Corporation’s senior management and Board of Directors have been
actively evaluating a number of opportunities arising from its formal strategic review process, as
announced in early January 2013. Due to the confidential nature of this process, PetroFrontier will not
disclose developments with respect to this process until a definitive agreement has been reached, as
determined or required by law. Those parties interested have signed confidentiality agreements, reviewed
the electronic data room and have been provided with detailed technical presentations by the
Corporation’s senior management team.
The Corporation’s Annual General Meeting, originally scheduled for Wednesday December 12, 2012,
was postponed and is expected to be held once the strategic alternative process is finalized.