CPT.L Regulatory News (CPT)

For immediate release

27 June 2014

FRONTIER RESOURCES INTERNATIONAL PLC

("Frontier" or the "Company")

Placing

The Board of Frontier (AIM Ticker: FRI), the AIM-traded international oil and gas exploration company with assets in Oman, Zambia and Namibia is pleased to announce that the Company has today conditionally issued to institutional and other investors 40,000,000 new ordinary shares (the "Placing Shares") at a placing price of 1.5p per Placing Share (the "Placing Price") to raise £600,000 before expenses subject to admission (the "Placing").

As stated at the time of admission to AIM in July 2013, the Directors expected to raise further funding in mid-2014 to implement the next stage of exploration in Oman. In addition, as announced earlier this year, Frontier has started to approach industry partners with the intention of farming out an interest in each of Namibia and Zambia. As part of this potential farm-out process the Company has established an online virtual data-room to facilitate data review by interested parties. During the second quarter of 2014, Frontier opened a virtual data room for parties interested in farming in to Oman Block 38.

The net proceeds of the Placing will provide additional working capital for the Company to progress these farm-out discussions and enable additional technical analysis on Block 38, in particular the reprocessing and interpretation of a minimum of 400 kilometers of legacy 2D seismic data over the area where the Company has identified potential presence of an Ara formation intra- salt play on the Block and to commence planning of the 3D seismic programme.

The Company anticipates funding its further exploration activity and general working capital from the proceeds of a farm-out of one or more of its interests in the second half of this year.

The Placing Shares will, on issue, rank pari passu with the existing ordinary shares in issue and application will be made for the Placing Shares to be admitted to trading on AIM. Admission and trading in the Placing Shares on AIM is expected to commence on or around 3 July 2014 ("Admission"). The Placing Shares will represent 26.7 per cent. of the enlarged share capital of the Company. The Placing is conditional on Admission.

Jack Keyes, Chief Executive of Frontier has subscribed £135,000 for 9,000,000 Placing Shares at the Placing Price. Jack Keyes is currently interested in 23,693,671 ordinary shares representing approximately 21.5 per cent. of the Company's issued share capital. Following Admission, Jack Keyes will in aggregate be interested in 32,693,671 ordinary shares representing 21.8 per cent. of the enlarged share capital of the Company. At Admission Jack Keyes provided a general working capital facility to the Company of up to £200,000 which as at the date of this announcement remains undrawn. The Company has agreed with Jack Keyes that as a result of his subscription in the Placing, the general working capital facility will now terminate.

As Jack Keyes is a director of the Company and is interested in more than 10 per cent. of the issued ordinary share capital of the Company, the subscription by him in the Placing and the amendment of the general working capital facility is a Related Party transaction for the purposes of Rule 13 of the AIM Rules. The Independent Directors, comprising the Board other than Jack Keyes, having consulted with the Company's nominated adviser, consider that the subscription by Jack Keyes pursuant to the Placing and the amendment of the general working capital facility is fair and reasonable insofar as the Company's shareholders are concerned. The Independent Directors have taken into account in particular that Jack Keyes is subscribing on the same terms and conditions as the other subscribers for the Placing Shares procured by the Company's brokers from unconnected parties.

Following the issue of the Placing Shares, the Company's issued share capital consists of 150,055,505 Shares, with voting rights. This figure may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

Enquiries:

Frontier Resources International Plc

About Frontier:

Frontier Resources International Plc, which was founded in April 2008, is focused on onshore oil and gas exploration and development in the Middle East and Southern Africa where the Company has technical knowledge and expertise. The Company currently has three exploration projects in Oman, Zambia and Namibia.

Frontier's immediate objectives are to continue developing its core exploration projects towards first production particularly in Oman where the Company's knowledge base is most advanced because of the proximity to producing oil and gas fields and the availability of existing seismic and well data.

The Company is incorporated in the United Kingdom with its registered office in London. It also maintains a technical and commercial office in the United States in Houston, Texas. Additionally, to support its regional operations in Southern Africa and the Middle East, offices are maintained in Namibia, Zambia and Oman.

The Company's shares were admitted to AIM of the London Stock Exchange on 5 July 2013.

GLOSSARY OF TERMS

The following is a glossary of technical terms:

 "2D" means two dimensional

 "3D" means three dimensional

 "Seismic" means use of sound waves generated by controlled explosions to ascertain the nature of the subsurface geological structures. 2D records a cross section through the subsurface while 3D provides a three dimensional image of the subsurface

Qualified Persons Statement

The scientific and technical information contained within this announcement has been reviewed and approved by Michael (Jack) Keyes, CEO of the Company. Mr Keyes has over 30 years' experience in the international oil industry specialising in exploration operations, project management and corporate management. Mr. Keyes completed his formal education at the University of Tulsa, Oklahoma with a Master's Degree in Exploration Geophysics, and is a member, inter alia, of the American Association of Petroleum Engineers (AAPG), Society of Petroleum Engineers (SPE), Society of Exploration Geophysicists (SEG), Petroleum Exploration Society of Great Britain (PESGB) and is the Qualified Person for the purposes of the AIM Guidance Note on Mining and Oil & Gas Companies dated June 2009.

Forward Looking Statements

Certain statements in this announcement are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors. A number of factors could cause actual results to differ materially from the results discussed in the forward looking statements including risks associated with vulnerability to general economic and business conditions, competition, environmental and other regulatory changes, actions by governmental authorities, the availability of capital markets, reliance on key personnel, uninsured and underinsured losses and other factors, many of which are beyond the control of the Company. Although any forward looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such forward looking statements.

ENDS