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IFR gains Mexican drilling permit

Creamer Media Deputy Editor: North America
The TSX-V-listed equity of oil and gas explorer International Frontier Resources (IFR) has gained about two-thirds this week after it announced on Thursday that it has received a drilling permit for its Tecolutla onshore oil and gas block, which it is developing with its Mexican joint venture (JV) partner Tonalli Energia. The Calgary, Alberta-based company reported that Tonalli was granted the right to operate, develop and produce hydrocarbons at Tecolutla through a licensing contract with the Mexican government.

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