PetroFrontier has engaged Macquarie Tristone to seek proposals for divesting a portion of its working interest in the form of a Farm-Out/Joint Venture (JV).
Strategic entrance into underexplored, highly prospective Georgina Basin, Northern Territory, Australia
Significant operated land position, totalling 13.6MM gross acres (85.5% average working interest), effectively capturing all of the prospective lands encompassing the entire south Georgina Basin
Greater than 27 Billion barrels of Undiscovered Unrisked Recoverable hydrocarbon resource potential recognized in multiple prospects (Ryder Scott, November 2010)
Ongoing operations with recent wells drilled to evaluate the resource potential of the unconventional Cambrian Arthur Creek “Hot Shale” Formation (26.4 Billion barrels of Undiscovered Unrisked Recoverable Oil)
Additional upside potential targeting 1.1 Billion barrels of Unrisked Recoverable oil in conventional prospects on PetroFrontier held lands
Utilizing horizontal multi-stage fracture stimulation technology to effectively stimulate the source rock/reservoir
Australia Federal and State governments have a very positive attitude toward oil and gas activity that provides a favourable political environment
Oil and gas takeaway options are available
Data Rooms available mid February 2012 with proposals due March 29, 2012.
http://www.macquarie.com/mgl/com/macquarietristone/mandates/petro
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