Frontera Resources Regulatory News (FRR)

6 November 2017

Frontera Resources Corporation

("Frontera" or the "Company")

Conversion of Series A Preferred Convertible Shares into Ordinary Shares

Frontera Resources Corporation (AIM: FRR), the European focused independent oil and gas exploration and production company, today announces that on 2 November 2017 it received a conversion notice for the month of November from YA II PN, Ltd. ("YA") to convert 400 Series A Preferred Convertible Shares ("Convertible Shares") out of its outstanding total of 5200 Convertible Shares.

Pursuant to the terms of the agreement with YA, conversion will be made at a price of 0.501 pence, which will result in the issue of 60,862,275 new ordinary shares ("New Ordinary Shares") to YA.

The agreement with YA contains a limitation of a maximum of 1,300,000,000 ordinary shares ("Ordinary Shares") that YA is entitled to convert before 16 June 2018. Following this conversion, 966,152,528 Ordinary Shares out of agreed 1,300,000,000 will have been converted and issued to YA. Accordingly, YA may only convert a further 333,847,472 Ordinary Shares before 16 June 2018.

Application will be made for New Ordinary Shares to be admitted to trading on AIM, which is anticipated to occur on or around 13 November 2017 ("Admission"). The New Ordinary Shares will rank pari passu with the existing Ordinary Shares of the Company.

Following Admission, the Company will have 14,558,660,983 Ordinary Shares in issue with voting rights. The Company does not hold any Ordinary Shares in treasury and accordingly there are no voting rights in respect of any treasury shares. The aforementioned figure of 14,558,660,983 Ordinary Shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the disclosure requirements applicable to the Company.

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