26 May 2010 07:00
FRONTERA RESOURCES CORPORATION
Houston, Texas, U.S.A. - 26 May 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 23 June 2010. As of 5:00 p.m., Houston time, on 25 May 2010, the Company had received tenders of US $5,145,084.55 principal amount of 2012 Notes and US $593,980.74 tenders of 2013 Notes, as well as 5,468,638 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
Andrew Fairclough / Henry Willcocks
+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.