CALGARY, ALBERTA--(Marketwired - May 24, 2016) - International Frontier Resources Corporation (TSX VENTURE:IFR) today reported results for the three months ended March 31, 2016. In the period the Company recorded a loss of $359,785 ($0.004 per share) versus a loss of $243,335 ($0.004 per share) in 2015. For the three-month period ended March 31, 2016 net oil revenue was $25,980 versus $89,730 at March 31, 2015. Revenue in the period was down as a result of lower oil production and lower oil prices, $24.21 per barrel for the three months ended March 31, 2016 versus $40.03 for the same period in 2015. At March 31, 2016 cash and cash equivalents were $1,940,385 and working capital was $1,668,015. The Company's financial statements and related management discussion and analysis have been filed on Sedar and posted on the Company's website.
International Frontier is an independent oil and gas company focused on projects in Mexico, the Northwest Territories, Canada. The Company's shares are listed and trade on the TSX Venture Exchange trading under the symbol IFR.
For additional information please visit www.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.
(May 24, 2016 - 2:30 PM EDT)
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