Soros from Jan.31-2012




  1. Name and address of eligible institutional investor:

Soros Fund Management LLC ("Soros")

888 Seventh Avenue

New York, NY


Quantum Partners LP ("Quantum")

c/o Soros Fund Management LLC

888 Seventh Avenue

New York, New York


  1. The name of the reporting issuer and the designation and number or principal amount of securities and the eligible institutional investor's security holding percentage in the class of securities at the end of the month for which the report is made:

As at January 31, 2012, Soros reports that Quantum held 4,000,000 common shares ("Shares") of PetroFrontier Corp. (the "Company"). The Shares held by Quantum represent approximately 6.25% of all outstanding Shares of the Company.

As of the end of January 2012, neither Soros nor Quantum owned, directly or indirectly, nor exercised control or direction over, any Shares of the Company other than as disclosed above.

  1. Reliance on Exemption As an "investment manager" (as defined in National Instrument 62-103) exercising discretionary authority to vote (as applicable), acquire or dispose of securities purchased on behalf of its clients, Soros is eligible to file this report pursuant to Part 4 of National Instrument 62-103. Soros does not presently intend to:

(a) make a formal bid for any securities of the Company; or

(b) propose a reorganization, amalgamation, merger, arrangement or similar business combination with the Company that if completed would reasonably be expected to result in Soros, either alone or together with any joint actors, possessing effective control over the Company or a successor to all or a part of the business of the Company.

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