Mr. Steve Hanson reports
IFR APPOINTS GLENN DAWSON TO BOARD OF DIRECTORS, EXTENDS EVALUATION PLAN
International Frontier Resources Corp. has appointed a new independent director, R. Glenn Dawson, to its board of directors. Mr. Dawson brings 38 years of oil and gas exploration and management experience in the North American hydrocarbon basins to International Frontier Resources' board.
With a strong geological, management and operating background and expertise in discovering and developing new opportunities, Mr. Dawson has founded several publicly traded oil and gas companies and has been responsible for exploration and production (E&P) budgets in excess of $200-million annually, which includes multiple horizontal drilling resource plays as well as conventional oil operations.
"We are pleased to welcome Glenn to the IFR board of directors," stated International Frontier Resources chairman Tony Kinnon. "He brings a wealth of leadership and technical expertise to the current composition of the board, and we look forward to his guidance with respect to the company's operations and interests."
Mr. Dawson is currently the president and chief executive officer of CUDA Energy Inc., a private Canadian-based E&P company, and is an independent board member and a technical director of Lilis Energy Inc.
Highlights from his career include serving as the president of Bakken Hunter LLC, a division of Magnum Hunter Resources Corp. (MHR), where he managed operations and development of assets in the United States and Canada, from 2011 to 2014. During his tenure, MHR significantly expanded its operations in the Bakken region.
Mr. Dawson has also served as the president of NuLoch Resources Inc. (2005 to 2011) and as the vice-president of exploration at several energy companies, including TriLoch Resources Inc. (2001 to 2005), PanAtlas Energy Inc. (1998 to 2000) and Summit Resources, where he held successive positions as a geologist and within exploration during his 13-year tenure.
Mr. Dawson holds a bachelor of science in geology from Weber State College and he attended the master of science program at the University of Calgary.
Evaluation plan extension
International Frontier Resources' joint venture, Tonalli Energia, in partnership with Mexican petrochemical leader Grupo IDESA, has received approval from Mexico's National Hydrocarbons Commission (CNH) to extend its Tecolutla evaluation plan. Subject to final approval for the modification of the work program, Tonalli intends to perform an additional workover and drill a horizontal well as part of this extension. Before the July 6, 2019, expiry of this second phase of the evaluation, Tonalli intends to submit a long-term development plan to CNH for Tecolutla. Tonalli has posted an additional performance bond relative to the new work program in the amount of $1,534,000 (U.S.).
Through its joint venture, International Frontier Resources was one of the first foreign companies to participate in Mexico's historic reform of the oil and gas sector. The Tecolutla block was awarded to Tonalli as part of the first round and third call of Mexico's oil and natural gas mature field bid round (Round 1.3) -- the first in almost 80 years.
About International Frontier Resources
International Frontier Resources is a Canadian publicly traded company with a demonstrated record of advancing oil and gas projects. Through its Mexican subsidiary, Petro Frontera SAPI de CV and strategic joint ventures, it is advancing the development of petroleum and natural gas assets in Mexico. The company also has projects in Canada and the United States, including the Northwest Territories and Montana.
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