Nov 29, 2016
Third Quarter 2016 Results
Calgary, Alberta - November 29, 2016 - International Frontier Resources Corporation ("IFR" or the "Company") (TSX-V: IFR) (OTCQB: IFRTF) today reported results for the three and nine months ended September 30, 2016.
In the third quarter, the Company recorded a loss of $1,561,180 ($0.02 per share) versus a loss of $984,365 ($0.01 per share) in the comparable 2015 period. For the nine-month period ended September 30, 2016, net oil revenue was $213,915 versus $345,410 at September 30, 2015. Revenue in the period was down as a result of lower oil production and lower oil prices, $36.23 per barrel for the nine months ended September 30, 2016 versus $45.31 for the comparable period in 2015.
At September 30, 2016, cash and cash equivalents were $2,928,340 and working capital was $2,781,185.
Recent Corporate Highlights
About International Frontier Resources
International Frontier Resources Corporation (IFR) is a Canadian publicly traded company with a demonstrated track record of advancing oil and gas projects. Through its Mexican subsidiary, Petro Frontera S.A.P.I de CV (Frontera) and strategic joint ventures, it is advancing the development of petroleum and natural gas assets in Mexico. The Company also has projects in Canada and the United States, including the Northwest Territories, Alberta and Montana.
The Company's shares are listed on the TSX Venture, trading under the symbol IFR and on the OTCQB under the symbol IFRTF. For additional information please visit www.internationalfrontier.com.
FOR FURTHER INFORMATION
Steve Hanson - President and CEO
or Tony Kinnon - Chairman
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility or accuracy of this release". The Company seeks Safe Harbor.
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