Jan 05, 2006
Northwest Territories drilling program commences
International Frontier Resources Corporation ("IFR" TSX-V) reports the Company has increased its interest from 4.6% to 7.5% in the Husky et al Stewart D-57 (formerly Tehwa D-57) exploratory wildcat well located in the Central Mackenzie Valley, Northwest Territories. The D-57 well is targeting a total depth of 3100 meters (9,920 feet) the well will evaluate multiple objectives. The operator, Husky Oil Operations Limited., anticipates drilling operations will commence the week of January 16, 2006.
A second well in this winters NWT drilling program, Husky et al Summit Creek K-44 appraisal-exploration well, is scheduled to spud on January 25th, 2006. The K-44 well will appraise the Devonian Formation encountered in the Summit Creek B-44 discovery well. In March 2005 the B-44 well was production tested in two intervals yielding a combined production rate of approximately 10,000 barrels of oil equivalent per day (10,000 BOEPD). The K-44 well will also evaluate a deeper exploration target in the Ordovician Formation. The well, which is targeting a total depth of 3615 meters (11,520 feet), is located approximately 35 kms northwest of Stewart D-57 and 1.4 kms north of the Summit Creek B-44 discovery well.
The Company also reported today the issuance of 150,000 common shares under the Company's stock option plan. The stock options are exercisable at $1.95 per share for a period of five years.
For additional information visit www.internationalfrontier.com or contact;
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