PetroFrontier Corp. announced that it has partnered with the Korea Institute of Geoscience and Mineral Resources ("KIGAM") enabling PetroFrontier to initiate the development of its enhanced oil recovery ("EOR") opportunities. The partnership will proceed under the terms of the Cooperative Research and Development Agreement (the "Agreement") signed by the parties.

The Agreement provides for the design and construction of an advanced EOR pilot program and the completion of comprehensive front-end engineering and design for a future 20,000 barrels per day commercial development. KIGAM has committed to contribute approx. CND$30MM in non-equity, non-debt funding for research and development to be provided to PetroFrontier in renewable annual tranches of approx.

CAD 5 million over the next six years. The aim of the partnership is to utilize and advance cutting-edge EOR technologies, including water recycling capability, carbon capture and storage, and partial upgrading of the produced crude oil. Beyond serving as a pioneering research project, the EOR pilot project also aims to generate near and long-term social and economic benefits including by focusing on technologies that maximize energy efficiency and environmental responsibility.