CALGARY, ALBERTA--(Marketwired - Aug. 31, 2016) - International Frontier Resources Corporation (TSX VENTURE:IFR) today reported results for the six months ended June 30, 2016. In the period the Company recorded a loss of $945,145 ($0.01 per share) versus a loss of $597,365 ($0.01 per share) in 2015. For the six month period ended June 30, 2016 net oil revenue was $102,760 versus $228,410 at June 30, 2015. Revenue in the period was down as a result of lower oil production and lower oil prices, $36.27 per barrel for the six months ended June 30, 2016 versus $47.98 for the same period in 2015. At June 30, 2016 cash and cash equivalents were $2,705,165 and working capital was $2,602,435. 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 and South Eastern Alberta, Canada, and Montana. 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.
(August 31, 2016 - 5:02 PM EDT)
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