International Frontier Resources Corporation has formed a Mexican subsidiary, Petro Frontera S.A.P.I de CV (Frontera) that will allow for (i) the study of, and bidding on, assets in Mexico's initial oil and gas Energy Reform bid round in 2015; (ii) the acquisition and participation in services contracts that are currently migrating to exploration and production contracts; (iii) and the development of other petroleum and natural gas assets in Mexico.

Mexico's historic energy reform announced in 2014 has established a new legal framework for Mexico's energy industry and is expected to attract billions of dollars in foreign investment. In August 2014, SENER (Secretaria de Energia de Mexico) announced that Round One will include: (i) 169 blocks, comprised of 109 exploration blocks and 60 production blocks and (ii) 14 blocks under joint ventures with PEMEX. The tender process commenced in the first quarter of 2015, and production-sharing agreements are expected to be awarded through out 2015.

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