10:28:47 EDT Mon 20 May 2019
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International Frontier Resources Corp
Symbol C : IFR
Shares Issued 151,022,385
Close 2018-11-12 C$ 0.14
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Int'l Frontier JV starts drilling Tecolutla well

2018-11-13 10:35 ET - News Release

Mr. Steve Hanson reports

IFR JOINT VENTURE COMMENCES DRILLING OF TEC-11 HORIZONTAL WELL AT TECOLUTLA

Tonalli Energia, International Frontier Resources Corp.'s joint venture (JV) with Mexican petrochemical leader Grupo IDESA, has spudded the first conventional horizontal well (TEC-11) at its onshore Tecolutla block:

  • TEC-11 is planned to penetrate the El Abra reef at a vertical depth of approximately 2,310 metres with a horizontal leg of up to 1,000 m.
  • TEC-11 is the first horizontal well in a potential multiwell plan to develop the northern extension of the Tecolutla field that has been identified on Tonalli's interpretation of the 3-D seismic.
  • Tonalli will deploy a LWD (logging while drilling) rotary steerable directional system to optimize hole quality and wellbore placement and to guide subsequent completion operations.
  • 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.

The Tecolutla field is located within the Tampico-Misantla basin, which has multiple reservoirs with diverse play types as well as access to existing infrastructure, market, service sector providers and an established supply chain. In 2017, IHS Markit identified the Tampico-Misantla basin as a potential superbasin.

Through its JV with Grupo Idesa, International Frontier 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 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 (Frontera), 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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