PetroFrontier Corp. announce that the Joint Venture Operating Committee has approved the 2014 Work Plan and Budget (the "2014 WP&B"). The 2014 WP&B includes the drilling of up to five vertical test wells. All wells will include an extensive coring and open hole evaluation program and up to three of the wells will be hydraulically fractured and production tested.
"This program reflects the synergies of having Statoil technical staff imbedded in PetroFrontier's former Adelaide office for over a year," stated Earl Scott, PetroFrontier's President and CEO, "Statoil and PetroFrontier staff were able to quickly achieve alignment and Statoil staff have diligently developed their "in country" operating capability. Both Statoil and PetroFrontier are keen to move forward and further test the oil production potential of the Southern Georgina Basin, which the 2014 WP&B will provide for in a capital efficient way. Depending on government approvals, weather and service company availability, we hope to see drilling results in Q3 and testing results in Q4."