Frontera Resources Regulatory News (FRR)

6 Apr 2005 15:08

Frontera Resources Corporation06 April 2005 6 April 2005 FRONTERA RESOURCES CORPORATION ("Frontera" or the "Company") BOARD APPOINTMENT Frontera Resources Corporation (symbol: FRR), an independent oil & gasexploration company operating in Georgia, today announced the appointment of Mr.Luis E. Giusti L. (age 60) as an independent non-executive director of theCompany with effect from 5 April 2005. Mr. Giusti has been an External Director of Shell Transport and Trading sinceSeptember 2000 and is a member of the Carlyle-Riverstone Advisory Board, as wellas the Stanford Financial Group Advisory Board. Mr. Giusti is internationally renowned as an advisor and commentator on globalaffairs and energy issues. He is presently a Senior Adviser to the Center forStrategic and International Studies and a Director of the Energy Institute ofthe University of Houston and the Maguire Energy Institute of Southern MethodistUniversity. He is also a member of the International Energy Agency's ExpertPanel. Since 1976, Mr. Giusti has played a leading role in the development of theVenezuelan oil industry, becoming Chairman and CEO of Petroleos de Venezuela,S.A. in 1994, a post he held until 1999. Over his career, Mr. Giusti has received numerous accolades and awards including1997 World Oil Executive of the Year and Latin American Oil Executive of theDecade. Steve Nicandros, Chairman and Chief Executive of Frontera Resources, said: "I am delighted that Luis Giusti is joining Frontera. His vast internationaloil & gas experience will be of immense value to Frontera as we carry out ourbusiness in Georgia and grow our company." The Company advises that there are no further details relating to theappointment of Mr. Giusti which it is obliged to disclose under Schedule Twoparagraph (f) of the AIM rules. Enquiries Frontera Resources Corporation (+1 713 585 3200)Randy Theilig, Chief Financial Officer Citigate Dewe Rogerson (+44 207 638 9571)Martin Jackson Notes to Editors Frontera Resources Corporation is an independent US-based international oil andgas exploration and production company whose strategy is to identifyopportunities in emerging markets around the world. Frontera was admitted to the Alternative Investment Market, operated by theLondon Stock Exchange, on 14 March 2005. Frontera has operated in Georgia since 1997 where it holds a 100 per centworking interest in a production sharing agreement with the government ofGeorgia. This gives Frontera the exclusive right to explore for, develop andproduce oil in a 5,060 square kilometer area in eastern Georgia known as Block12. Frontera is currently conducting exploration and production operations in Block12, which contains a large inventory of existing fields and explorationprospects for new drilling. Frontera is now in a position to accelerate itsexploration and production activities and to commence drilling operations in oneof the existing fields and to commence an important new geophysical programmeover a portion of the identified exploration portfolio. This will establish thebasis for an aggressive exploration and production work programme to be carriedout over the next three years. This information is provided by RNS The company news service from the London Stock Exchange