International Frontier Resources Corporation

International Frontier Resources Corporation

May 28, 2015 16:06 ET

International Frontier Resources Corporation: First Quarter 2015 Results & Corporate Update

CALGARY, ALBERTA--(Marketwired - May 28, 2015) - International Frontier Resources Corporation (TSX VENTURE:IFR) today reported results for the period ending March 31, 2015. In the period the Company recorded a loss of $243,335 ($0.04 per share) versus a loss of $60,190 ($0.01 per share). Oil revenue in the reporting period was $89,730 versus $236,940 in Q1, 2014. Revenue in the period was down as a result of lower oil production and lower oil prices, $40.03 per barrel in Q1, 2015 versus $80.09 in Q1, 2014. At March 31, 2015 cash and cash equivalents were $2,503,405 and working capital was $2,031,455. The Company's financial statements and related management discussion and analysis have been filed on Sedar and posted on the Company's website.

Corporate Update

In Q1, 2015 a Mexican subsidiary was incorporated, Petro Frontera C.V., Petro Frontera which will allow for the study of, and bidding on, assets in Mexico's initial oil and gas Energy Reform bid round in 2015; the acquisition and participation in services contracts that are currently migrating to exploration and production contracts; and the development of other petroleum and natural gas assets in Mexico.

International Frontier is an independent oil and gas company focused on conventional and unconventional projects Canada, the US and Mexico. The Company's shares are listed and trade on the TSX Venture Exchange trading under the symbol IFR.

"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility or accuracy of this release". The Company seeks Safe Harbor.

Contact Information

  • International Frontier Resources Corporation
    Steve Hanson
    (604) 671-6982

    International Frontier Resources Corporation
    Pat Boswell
    (403) 215-2781