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PetroFrontier Corp
Symbol PFC
Shares Issued 63,493,156
Close 2011-07-05 C$ 2.85
Market Cap C$ 180,955,495
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PetroFrontier contractor moves rig to Southern Georgina

2011-07-06 09:27 ET - News Release

Ms. Susan Showers reports

PETROFRONTIER CORP. CONFIRMS RIG MOBILIZATION FOR GEORGINA BASIN DRILLING PROGRAM IN NORTHERN TERRITORY, AUSTRALIA

Major Drilling Pty. Ltd. has begun mobilizing its Schramm TXD200 rig from Brisbane, Queensland, to PetroFrontier Corp.'s project in 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, United States. PetroFrontier has identified 13 older unconventional wells within the Arthur Creek "hot" shale zone on its lands.

PetroFrontier has a 100-per-cent 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 fractured and completed immediately after it is drilled and then the rig and frac crew will return to Baldwin-2 to conduct fracturing 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 Nov. 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. 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.

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