Frontera Resources Share News (FRR)

TIDMFRR RNS Number : 7274P Frontera Resources Corporation 22 July 2010 FRONTERA RESOURCES CORPORATION Houston, Texas, U.S.A. - 22 July 2010 FRONTERA RESOURCES ANNOUNCES EXTENSION TO EXCHANGE OFFER FOR CONVERTIBLE DEBT AND WARRANTS Frontera Resources Corporation (London Stock Exchange, AIM Market: FRR; OTCQX Market, U.S.A.: FRTE), an independent oil and gas exploration and production company ("Frontera" or the "Company"), today announced that the Expiration Date for the Exchange Offer for its outstanding 2012 and 2013 Notes, and the Company's concurrent offer to exchange its outstanding Placement Warrants for new warrants, has been extended to 5:00 p.m., Houston time (11.00 p.m., UK time), on 18 August 2010. As of 5:00 p.m., Houston time, on 21 July 2010, the Company had received tenders of US $4,082,084.55 principal amount of 2012 Notes and US $593,980.74 tenders of 2013 Notes, as well as 6,824,234 Placement Warrants. Capitalised terms in this announcement carry the same meanings ascribed to them in the Company's announcement dated 13 April 2010. Enquiries: Frontera Resources Corporation Liz Williamson Vice President, Investor Relations and Corporate Communications (713) 585-3216 lwilliamson@fronteraresources.com Nominated Adviser: Strand Hanson Limited James Harris / Paul Cocker / Liam Buswell +44 (0)20 7409 3494 Broker: Arbuthnot Securities Limited Richard Johnson +44 (0)20 7012 2000 Notes to editors: 1. Frontera Resources Corporation is an independent Houston, Texas, U.S.A.-based international oil and gas exploration and production company whose strategy is to identify opportunities and operate in emerging markets around the world. Frontera has operated in Georgia since 1997, where it holds a 100% working interest in a production sharing agreement with the government of Georgia. This grants Frontera the exclusive right to explore for, develop and produce oil and gas from a 5,060 square kilometer area in eastern Georgia known as Block 12. Frontera's common stock is traded on the London Stock Exchange, AIM Market - Symbol: FRR, and via the Pink OTC Markets OTCQX Market Tier - Symbol: FRTE. For more information, please visit www.fronteraresources.com. 2. This release and the information referred to herein may contain certain forward-looking statements, including, without limitation, expectations, beliefs, plans and objectives regarding the potential restructuring and other transactions and matters discussed in this release. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: fluctuations in oil and gas prices; general economic conditions; conditions in the global financial markets; the political situation in Georgia and relations with neighboring countries; and other factors listed in Frontera's financial reports, which are available at www.fronteraresources.com/Investors.php?link_id=23, and in the offer to purchase and related materials, which are available from the Company as outlined above. There is no assurance that Frontera's expectations will be realized, and actual results may differ materially from those expressed in the forward-looking statements. This information is provided by RNS The company news service from the London Stock Exchange END MSCBRGDRISDBGGB (END) Dow Jones Newswires July 22, 2010 02:00 ET (06:00 GMT)