International Frontier Resources Corporation (TSX-V: IFR) (OTCQB: IFRTF) today announced that its jointly owned Mexican company Tonalli Energia has registered and been granted access to the National Hydrocarbons Commission (CNH) data room for the third tender of Round Two of Mexico’s oil and gas energy reform. Tonalli is in the process of analyzing and assessing block data, and completing documentation in anticipation of entering the bidding process this spring. Concessions are to be awarded in July 2017 under a license contract model. The licenses for exploration and production will last 30 years and can be extended for a maximum of two additional terms of five years each.
A copy of the full press release is enclosed for your reference.
Headquartered in Calgary, Alberta, International Frontier Resources 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.
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