International Frontier Resources Corporation
TSX VENTURE : IFR

International Frontier Resources Corporation

January 24, 2007 09:30 ET

International Frontier Resources Corporation: GSF Contracted to Drill North Sea Ridgewood Prospect

CALGARY, ALBERTA--(CCNMatthews - Jan. 24, 2007) -

THIS NEWS RELEASE IS NOT INTENDED FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.

International Frontier Resources Corporation (TSX VENTURE:IFR) reports that the operator of the Company's Ridgewood Prospect has contracted the GSF Galaxy 11 for drilling operations in Q3/07. A site survey is currently in progress to determine the exact sea floor co-ordinates for the well location.

Britcana Energy Ltd, a wholly owned U.K, subsidiary of IFR, acquired a 50% interest in the Ridgewood Prospect covering block 12/17b in last years 23rd Licensing Round. The Company has entered into two farmin option agreements that if exercised will see Britcana pay 15% of the well costs to retain a 25% interest in block 12/17b.

The Ridgewood prospect will be the third well in a three well, high impact drilling program, slated for 2007. The Company's Laurel Valley prospect will be drilled in Q1/07, followed by the Lytham prospect in Q2/07 and the Ridgewood prospect in Q3/07.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.

Contact Information

  • International Frontier Resources Corporation
    Pat Boswell
    President
    (403) 215-2781
    or
    International Frontier Resources Corporation
    Mark Powell
    VP Exploration
    (403) 215-2783
    Website: www.internationalfrontier.com