Sector: Energy | Industry: Oil & Gas Exploration and Production |
Company Contact | |
Address: | 900, 903- 8th avenue SW CALGARY AB T2P 0P7 |
Tel: | N/A |
Website: | www.petrofrontier.com |
IR: | See website |
Key People | ||
Kelly Kimbley President, Chief Executive Officer, Director | Jana L. Lillies Chief Financial Officer | Mehran Joozdani Chief Operating Officer |
Business Overview |
PetroFrontier Corp. is a Canada-based junior energy company focused on resource development in partnership with First Nations and operates heavy oil projects in the Cold Lake and Wabasca areas of Alberta. This development consists of the primary recovery of heavy oil utilizing conventional perforated wells (vertical and horizontal) and the intentional production of sand with the oil; a process referred to as cold heavy oil production with sand (CHOPS). The Company has interests in approximately 4,368 gross (4,072 net) hectares arising under several joint operations with the wholly owned energy companies of the Cold Lake First Nations (CLFN). It also has a joint venture agreement with the wholly owned energy company of the Bigstone Cree Nation (BCN), covering four sections under which 512 gross (462 net) hectares in the Wabasca area of north-central Alberta. |
Financial Overview |
For the nine months ended 30 September 2023, PetroFrontier Corp revenues decreased 52% to C$2.6M. Net loss totaled C$1.7M vs. income of C$647K. Revenues reflect Petroleum sales decrease of 52% to C$2.9M. Net loss reflects Other income and interest decrease of 75% to C$508K (income), Professional fees increase of 26% to C$266K (expense), Salaries and benefits increase of 3% to C$580K (expense). |
Reporting Currency: | Canadian Dollars |
Enterprise value: | $22.12M as of Sep 30, 2023 |
Annual revenue (TTM): | $3.92M as of Sep 30, 2023 |
EBITDA (TTM): | -$1.54M as of Sep 30, 2023 |
Net annual income (TTM): | -$1.79M as of Sep 30, 2023 |
Free cash flow (TTM): | -$0.75M as of Sep 30, 2023 |
Net Debt Last Fiscal Year: | $10.10M as of Sep 30, 2023 |
Shares outstanding: | 233,685,112 as of Sep 30, 2023 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |