International Frontier Resources Corporation: 2013 Year End Financial Results
April 11 2014 - 1:05PM
Marketwired
International Frontier Resources Corporation: 2013 Year End
Financial Results
CALGARY, ALBERTA--(Marketwired - Apr 11, 2014) - International
Frontier Resources Corporation (the "Company") (TSX-VENTURE:IFR)
today reported its financial results for the year ended December
31, 2013.
The Company recorded a consolidated net loss for the year ended
December 31, 2013 of $267,190 ($0.004 per share) as compared to a
consolidated net loss of $575,440 ($0.01 per share) at December 31,
2012. Excluding non-cash charges comprised of accretion, depletion,
depreciation and share-based compensation the Company recorded a
loss of $31,495 in 2013 versus $405,165 in 2012.
In 2013 oil revenue, net of royalties, was $792,800 compared to
$752,390 in 2012. At December 31, 2013 cash and cash equivalents
were $3,002,520 and working capital was positive $2,723,015.
In 2013 the Company increased its acreage position in the
Central Mackenzie Valley, NWT from 48,500 gross, 11,500 net acres
to 223,064 gross, 174,614 net acres. The Central Mackenzie Valley
is host to an emerging exploratory shale oil play in the Canol
Formation.
The Company's audited financial statements, MD&A, a letter
to shareholders and the annual NI 51-101 report can be found on
SEDAR and on the Company's updated website.
The Company's shares are listed on the TSX Venture Exchange
trading under the symbol IFR.
For further 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.
International Frontier Resources CorporationPat BoswellCEO(403)
215-2781International Frontier Resources CorporationSteve
HansonPresident(778) 588-0802www.internationalfrontier.com
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