• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Energy Market
    Energy News
    Energy Stocks
    • Energy Market
    • Energy News
    • Energy Stocks
    oil and gas investing

    IFR Joint Venture Tonalli Energia Qualifies for Upcoming Mexican Onshore Bid Round 2.3

    Shelly Admin Kumar
    Jun. 26, 2017 07:36AM PST
    Energy Investing
    Oil and Gas Investing

    International Frontier Resources Corporation (TSXV:IFR,OTCQB:IFRTF) today announced that its jointly owned Mexican company Tonalli Energia (“Tonalli”) has been named by Mexico’s energy regulator, the National Hydrocarbons Commission (CNH), as one of 12 companies and seven consortiums to qualify to bid on up to 14 blocks in bid round 2.3 scheduled for July 12, 2017. Other …

    International Frontier Resources Corporation (TSXV:IFR,OTCQB:IFRTF) today announced that its jointly owned Mexican company Tonalli Energia (“Tonalli”) has been named by Mexico’s energy regulator, the National Hydrocarbons Commission (CNH), as one of 12 companies and seven consortiums to qualify to bid on up to 14 blocks in bid round 2.3 scheduled for July 12, 2017. Other qualifying bidders are from Mexico, Canada, the United States, China, Colombia and Uruguay.
    As previously announced on January 19, 2017, Tonalli has been analyzing and assessing block data, and completed documentation in anticipation of entering the bidding process this July. Concessions are to be awarded under a license contract model for exploration and production that will last 30 years and can be extended for a maximum of two additional terms of five years each.
    Round 2.3 includes 14 onshore blocks averaging 185 square kilometres (72 sections) available nationwide: six in the Southeastern Basin, four in the Burgos Basin, three in the Veracruz Basin and one block in the Tampico-Misantla Basin. Covering a total of 2,595 square kilometres, these development and exploration blocks contain 25 oil and gas fields with existing 3D or 2D seismic coverage. The Mexican government estimates that the blocks contain total prospective exploration resources of approximately 251 million barrels of crude equivalent and remaining original extraction volumes of approximately 328 million barrels of crude oil equivalent.
    IFR was one of the first foreign companies to participate in the historic reform of Mexico’s oil and gas sector. Last year, Tonalli assumed operatorship of the Tecolutla block from state-owned PEMEX. Tecolutla was acquired through a 50-50 joint venture with Mexican petrochemical leader Grupo IDESA in last year’s onshore block auction.
    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’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
    (403) 618-7346
    shanson@internationalfrontier.com
    or
    Tony Kinnon — Chairman
    (403) 607-6591
    tkinnon@internationalfrontier.com
    “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.
    Click here to connect with International Frontier Resources Corporation (TSXV:IFR,OTCQB:IFRTF) to receive an Investor Presentation.

    Source: www.internationalfrontier.com

    joint ventureoil and gas investingjoint ventureschinacanadaunited states
    The Conversation (0)

    Go Deeper

    AI Powered
    TSX and TSXV website on phone screen.

    6 Mining and Energy Stocks Make Top 10 on 2025 TSX Venture 50 List

    rainbow-colored stock charts

    5 Top Weekly TSX Performers: Uranium Stocks Move Up

    Latest News

    Outlook Reports

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Energy Investing Stocks

    Coelacanth Energy

    CEI:CC

    Jupiter Energy

    JPR:AU

    Charbone Hydrogen

    CH:CC

    Alvopetro Energy

    ALV:CC

    BPH Energy

    BPH:AU
    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES
    ×