Frontier Energy to Purchase up to 20,000 Acres in Western U.S.
May 20 2008 - 10:34AM
Marketwired
NORTH LAS VEGAS, NV is pleased to announce today that it is
increasing its portfolio of prospects to include up to 20,000 acres
located in a Western U.S. state. Per our last PR from March 28th,
we are now in the acquiring stage and are conditioned on financing
and resource availability.
Based upon our geologist's initial reports, the prospect has
been estimated to have potential reserves of 50,000,000 barrels of
oil for the entire prospect. Frontier Energy will have a 75%
working interest in this prospective lease. This information has
not been proven yet and further reports and work will have to be
done to confirm these numbers in detail once the acquisition is
complete.
To ensure the success of this prospect, Frontier has begun
working with a well established venture capital corporation to fund
the initial exploration and the ability to drill its first well on
the property. "We are extremely excited about this acquisition and
its potential that it brings to our shareholders," stated Mr.
Robert Genesi, CEO of Frontier Energy. "In addition, we will
shortly update our shareholders on our other leases as well as
corporate activity."
About Frontier Energy Corp.
Frontier is an exploratory oil and gas business headquartered in
Las Vegas, Nevada. The goal of Frontier Energy is to build a solid
portfolio of assets through the acquisition of leases and explore
and develop the opportunities on the individual leases.
Except for the historical information presented, the above
statements are "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995 or regulations
there under. These forward-looking statements are subject to risks
and uncertainties, and actual results may differ materially. These
risks include the economic health of the oil and gas industry,
competitive pricing pressures, completion of possible acquisitions,
success at integrating and operating any acquired operations and
the availability of necessary financing. These statements speak
only as of above date, and Frontier Energy Corp. disclaims any
intent or obligation to update them.
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Contact: Frontier Energy Corporation Eddie Monet
619-864-0166
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