Jan 31, 2006
IFR Expands North Sea Opportunities and NWT Drilling Program in Progress
International Frontier Resources Corporation ("IFR" TSX-V) today announced the Company has signed a Letter Agreement to participate for a ten percent (10%) interest in a North Sea geological and geophysical joint venture with Exploration Geosciences Ltd. and three independent international oil & gas companies. Details of the joint venture will be announced upon execution of formal agreements.
The Company also reports that drilling has commenced on its Keele River project located in the Central Mackenzie Valley, Northwest Territories. The Stewart D-57 exploratory wildcat well is currently drilling at 2,625 feet (800 meters) enroute to an estimated total depth of 10,170 feet (3,100 meters). The D-57 well will evaluate multiple objectives.
A second well, Summit Creek K-44, is scheduled to commence drilling this week. The K-44 well is targeting a total depth of 11,811 feet (3,610 meters). The well will appraise the reservoir encountered in the Summit Creek B-44 discovery well and if time permits, the well will be drilled deeper to evaluate additional exploration objectives.
IFR holds a 5% interest in the Summit Creek K-44 well and a 7.5% interest in the Stewart D-57 well. Other partners in the drilling program are; Husky Oil Operations Limited (operator), EOG Resources Canada Inc., Northrock Resources Ltd. and Pacific Rodera Energy Inc.
For additional information on the Company visit www.internationalfrontier.com or contact;
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