International Frontier Resources Corporation (IFR) announced that Tonalli Energia S.A.P.I. de C.V. (Tonalli) its 50% owned Mexican subsidiary, has received formal approval from the Mexican energy regulator, Comision Nacional de Hidrocarburos (CNH) for a transfer of ownership of the Tecolutla Block. As a result, Jaguar will also own a 50% interest in the Tecolutla Block and act as operator of record in front of the CNH. In addition, the company announced that its Board of Directors has approved a new management structure, which takes effect immediately.

CEO, Steve Hanson has resigned and IFR Chairman Tony Kinnon has been appointed interim Chief Executive Officer (CEO).