International Frontier Resources Corporation (TSXV:IFR,OTCQB:IFRTF) is a Canadian-based oil and gas company with a proven track record for advancing projects. Through its Mexican joint venture partnership, IFR is currently focused on the development of oil and gas assets in Mexico’s premier Tampico-Misantla Basin. The company is among the few opportunities to invest in a publicly-traded company in Mexico’s oil and gas sector.
Mexico and its world-class oil field assets represent one of the largest, unprecedented energy investment opportunities available today.
Mexico ranks as the third largest oil producer in the Western Hemisphere and holds the region’s fourth largest oil reserves. For nearly 80 years, state-owned PEMEX was the only player in the country’s oil and gas industry. In 2013, the Mexican government initiated energy legislation to allow for Mexican and foreign companies to invest in the country’s oil and gas sector.
IFR has partnered with Grupo IDESA, one of the largest petrochemical companies in Mexico. In operation for more than 60 years, Grupo IDESA produces and sells petrochemicals into a range of Mexican and international industries. Together, the companies formed Tonalli Energia, a 50/50 joint venture which holds the Tecolutla block in the world class petroleum province of the Tampico-Misantla Basin. The concession was awarded to Tonalli Energia during onshore Bid Round 1.3 under Mexico’s oil and gas energy reform.
International Frontier Resources Corporation Highlights
- First mover advantage in one of the largest energy investment opportunities in the world.
- Industry-leading joint venture, Tonalli Energia, combines IFR’s Canadian geoscience, engineering and finance with the in-country expertise of petrochemical leader Grupo IDESA, including the latter’s Mexican regulatory, engineering and logistics team.
- Operates the onshore Tecolutla block, a vastly underdeveloped mature field in the world-class Tampico-Misantla Basin.
- Development underway with near-term production and cash flow.
- Commenced shipping of crude oil to PEMEX in September 2018 from TEC-10 well.
- Producing TEC-10 well averaged 146 barrels of oil per day at the average crude oil prices of US$60.21 per barrel in Q4.
- TEC-11, the first horizontal well, was drilled to a depth of 3,283 meters and oil shows were encountered during drilling.
- Testing at TEC-2 well suggests that the well could produce approximately 125 barrels of oil per day.
- Goal to continue expanding land package in Mexico’s onshore land claims.
- Experienced management and technical team members with a proven track record of success; drilled over 100 horizontal multi-stage frack wells in Alberta.
- Joint bidding agreement signed for participation in PEMEX farmout round with partner Lifting MX.