Mr. Kelly Kimbley reports

PETROFRONTIER ANNOUNCES PARTNERSHIP WITH THE KOREA INSTITUTE OF GEOSCIENCE AND MINERAL RESOURCES

Petrofrontier Corp. has partnered with the Korea Institute of Geoscience and Mineral Resources (KIGAM), enabling Petrofrontier to initiate the development of its enhanced oil recovery (EOR) opportunities. The partnership will proceed under the terms of the co-operative research and development agreement signed by the parties. The agreement provides for the design and construction of an advanced EOR pilot program, and the completion of comprehensive front-end engineering and design for a future 20,000-barrel-per-day commercial development. KIGAM has committed to contribute approximately $30-million in non-equity, non-debt financing for research and development to be provided to Petrofrontier in renewable annual tranches of approximately $5-million over the next six years.

The aim of the partnership is to utilize and advance cutting-edge EOR technologies, including water recycling capability, carbon capture and storage, and partial upgrading of the produced crude oil. Beyond serving as a pioneering research project, the EOR pilot project also aims to generate near- and long-term social and economic benefits, including by focusing on technologies that maximize energy efficiency and environmental responsibility.

Kelly Kimbley, president and chief executive officer of Petrofrontier, stated: "I would like to thank KIGAM for selecting Petrofrontier to partner with it in this worthwhile and value-creating initiative. We look forward to working with KIGAM to set new benchmarks in enhanced oil recovery techniques in a Canadian industry that is already a world leader in environmentally and socially responsible resource development. We believe that the partnership will enable KIGAM to showcase Korea's world-class technological and manufacturing expertise, and apply it to Canada's best-in-class resource development technologies and practices."

Dr. Young-Ju Kim, head of the integrated demonstration of oil sands project for KIGAM, stated: "I am sincerely pleased that Petrofrontier, with its experience and expertise in heavy oil projects, will carry out a pilot project with KIGAM. Through the pilot project, Petrofrontier's advanced technology will enable Korea to secure localized technology for the production of unconventional resources and achieve technological independence in future resource development. We hope that the co-operation between KIGAM and Petrofrontier will continue, starting with the enhanced oil recovery pilot project."

About Petrofrontier Corp.

Petrofrontier is a junior energy company focused on responsible resource development in partnership with first nations, and currently operates heavy oil projects in the Cold Lake and Wabasca areas of Alberta. Committed to generating value for its stakeholders, Petrofrontier continually strives to improve its operating, environmental, social and governance practices, and the delivery on its commitment to enhance the communities in which it is honoured to work.

Petrofrontier's head office is in Calgary, Alta.

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