PetroFrontier Corp. report that as a result of inquiries from third parties and to maintain its financial flexibility, it has retained Macquarie Capital Markets Canada Ltd. as its exclusive advisor to assist it in seeking a suitable joint venture partner. The selected party would participate with PetroFrontier in the exploration and development of its extensive unconventional and conventional exploration acreage in Australia's Southern Georgina Basin. PetroFrontier's future arrangement with such party may include a joint venture, farm-out or other similar relationship.

Although PetroFrontier has not set a definitive deadline, it anticipates completing this search by late March, 2012 so that it can coordinate such third party participation with its current exploration program. PetroFrontier does not intend to disclose developments with respect to the search process until its Board of Directors has approved a definitive agreement with a joint venture partner, or otherwise determines that disclosure is required. There can be no assurance that the search process will result in PetroFrontier finding a suitable joint venture partner.

Tags: PetroFrontier Corp.