PetroFrontier Corp.

PetroFrontier Corp.

July 06, 2011 09:18 ET

PetroFrontier Corp. Confirms Rig Mobilization for Georgina Basin Drilling Program in Northern Territory, Australia

CALGARY, ALBERTA--(Marketwire - July 6, 2011) - (TSX VENTURE:PFC) - PetroFrontier Corp. ("PetroFrontier") is pleased to announce that Major Drilling Pty. Ltd. ("Major Drilling") has begun mobilizing its Schramm TXD200 rig from Brisbane, Queensland to the Southern Georgina Basin in the Northern Territory, Australia.

Drilling Program Update

The rig will mobilize approximately 3,000 kilometres and is expected to arrive at the Baldwin-2 well site in approximately one week. Once the rig arrives on location and is rigged up, it will be subject to a final government audit prior to spud. PetroFrontier will provide a further update once a spud date has been confirmed.

Baldwin-2 is located in the southern part of EP 103 in the Southern Georgina Basin. Its primary target is the Basil Arthur Creek "hot" shale with a secondary target being the Hagen Member above the hot shale. Management believes that the Arthur Creek is analogous to the Bakken play found in Saskatchewan, Canada and North Dakota, USA. PetroFrontier has identified 13 older unconventional wells within the Arthur Creek "hot" shale zone on its lands.

PetroFrontier has a 100% working interest in EP 103 and is the operator.

After completion of drilling the Baldwin-2 well, the rig will then move to the MacIntyre-2 well site located in the northeastern corner of EP 127. MacIntyre-2 will be frac'd and completed immediately after it is drilled and then the rig and frac crew will return to Baldwin-2 to conduct frac'ing and completion operations on that well.

According to a report (the "Ryder Scott Resource Report") prepared by Ryder Scott Company Canada (independent oil and natural gas reservoir engineers), dated November 1, 2010, the unrisked, undiscovered, prospective (recoverable) resource, based on a best (P50) scenario, for the unconventional Basil Arthur Creek shale zone in EP 103 and EP 127 may contain approximately 13.2 billion barrels and 2.7 billion barrels (gross) of oil respectively.

The Ryder Scott Resource Report on the resource potential of the Southern Georgina Basin describes the prospective (recoverable) portion of "Undiscovered Resources", as defined by the Canadian Oil and Gas Evaluation Handbook and does not represent an estimate of reserves. The Ryder Scott Resource Report is compliant with National Instrument 51-101 "Standards of Disclosure for Oil and Gas Activities ("NI 51-101"). There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources.

About PetroFrontier Corp.

PetroFrontier is an international oil and gas company engaged in the exploration, acquisition and development of both conventional and unconventional petroleum assets in Australia's Southern Georgina Basin. PetroFrontier's common shares are listed on the TSX Venture Exchange under the symbol "PFC". Founded in 2009, PetroFrontier is one of the first companies to undertake exploration in the Southern Georgina Basin in Australia's Northern Territory. PetroFrontier's head office is based in Calgary, Alberta and operations office is in Adelaide, South Australia.

Forward-Looking Statements

This press release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of PetroFrontier, including, without limitation, statements pertaining to management's future plans and operations. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in PetroFrontier's disclosure documents on the SEDAR website at Any forward-looking statements are made as of the date of this release and, other than as required by applicable securities laws, PetroFrontier does not assume any obligation to update or revise them to reflect new events or circumstances.

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 for the adequacy or accuracy of this release.

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