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International Frontier Resources Corp
Symbol C : IFR
Shares Issued 151,022,385
Close 2018-10-18 C$ 0.13
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Int'l Frontier JV Tonalli receives TEC-11 well approval

2018-10-18 10:14 ET - News Release

Mr. Steve Hanson reports

IFR JOINT VENTURE RECEIVES KEY APPROVALS FOR TEC-11 HORIZONTAL WELL

International Frontier Resources Corp.'s joint venture, Tonalli Energia, has secured the necessary approvals for its first conventional horizontal (TEC-11) well at Tecolutla.

Mexico's Comision Nacional de Hidrocarburos (CNH) has approved the modified evaluation plan, which permits Tonalli to commence drilling the TEC-11 well. Tonalli has also received approval of its MIA (environmental plan) for the TEC-11 well from Agencia de Seguridad Energia y Ambiente (ASEA).

TEC-11 drill plan:

  • Further to these approvals, Tonalli has submitted an "Aviso" to CNH in order to notify CNH that it intends to spud TEC-11 on Nov. 12, 2018.
  • Tonalli has secured all major services, including drilling rig, required to drill the TEC-11 well.
  • The TEC-11 well is planned to penetrate the Tecolutla reef at a vertical depth of approximately 2,310 metres, with a horizontal leg up to 1,000 metres.

TEC-11 is the first horizontal well of a potential multiwell drilling program for the Tecolutla block. The information gathered from Tonalli's recently drilled TEC-10 vertical well, including permeability porosity and pressure data, indicates that the reef at Tecolutla is capable of high deliverability.

Through its joint venture with Grupo IDESA, 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 gas mature fields bid round.

About International Frontier Resources Corp.

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, International Frontier Resources is advancing the development of petroleum and natural gas assets in Mexico. International Frontier Resources also has projects in Canada and the United States, including the Northwest Territories and Montana.

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