PetroFrontier Corp. (PFC.V) went down more than 8% to just 2 cents above year low $1.08 with more than 244.9 thousand shares traded after announcing today its financial and operating results for the third quarter of 2011.
The company said that during the three and nine months ended September 30, 2011, capital expenditures incurred totaled $10 million and $15 million respectively and related primarily to seismic acquisition and drilling in the Southern Georgina Basin. And with current working capital of $34.9 million and no debt as at September 30, 2011, the company said it is fully funded to continue with the execution of the exploration program and for general operations well into 2012.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
