Apr 30, 2004
International Frontier Resources Corporation ("IFR" TSX- V)
As reported in our April 1st, 2004 news release the Company reported today it has closed the purchase of a 75% operated interest in the Alderson Manville M2M oil pool for a cash consideration of $881,000. The property includes six producing oil wells, three water disposal wells and related gathering and processing facilities located in the Brooks area of southern Alberta. Current production from the property is 60 BOPD of light gravity oil.
In June a production enhancement pilot project will commence on the Brooks property using the Company's proprietary SIDOX technology. SIDOX is a new production enhancement and water reduction technology being introduced in Canada through the Company's wholly owned subsidiary Sidox Chemicals Canada Ltd.
The Company also reported today TSX Venture Exchange approval was received for the private placement of 60,000 shares at $0.60 per share to Exploration Geosciences Ltd. the Company's technical advisors in the Northwest Territories. The shares are restricted from trading until August 15, 2004.
For additional information visit the Company's web site at www.internationalfrontier.com or contact:
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release. This news release is not intended for distribution to US news wire services or for dissemination in the United States and does not constitute an offer of the securities described herein.
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