Frontera Resources Regulatory News (FRR)

12 Apr 2005 16:58

Frontera Resources Corporation12 April 2005 Press Release NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES,CANADA, AUSTRALIA OR JAPAN. Date: 12 April 2005 In connection with its initial public offering of 28 million shares and itsadmission on AIM, Frontera Resources Corporation announces that Morgan Stanleyhas exercised the over-allotment option in relation to 2,685,215 shares. As a result of the exercise, the transaction size has increased to a total of30.7 million shares with gross proceeds amounting to approximately £46 million. Morgan Stanley acted as sole lead manager and bookrunner for the placing. Frontera is an independent oil and gas exploration, development and productioncompany which has operated in Georgia since June 1997. The Frontera Group holdsa 100 per cent working interest in a production sharing agreement with thegovernment of Georgia that gives the Frontera Group the exclusive right toexplore for, develop and produce oil in a 5,060 km2 area in eastern Georgiaknown as Block 12. ContactsCitigate Dewe RogersonMartin Jackson+44 207 638 9571 This press release is not for publication or distribution or release in theUnited States of America (including its territories and possessions, any Stateof the United States of America and the District of Columbia), Canada, Australiaor Japan. The information contained herein does not constitute or form part ofan offer or solicitation of an offer to purchase or subscribe for securities forsale in the United States, Canada, Australia or Japan or any other jurisdiction.The securities referred to herein have not been and will not be registeredunder the United States Securities Act of 1933, as amended and may not beoffered or sold in the United States or to of for the benefit of US personsunless they are registered or exempt from registration under applicable law orin transactions that are exempt from registration. No public offering ofsecurities is being made in the United States. This announcement is directed only at persons who (i) are outside the UnitedKingdom or (ii) are in the United Kingdom and either have professionalexperience in matters relating to investments or are high net worth companies,unincorporated associations etc for the purposes of Article 49 of the FinancialServices and Markets Act 2000 (Financial Promotion) Order 2001 (all such personstogether being referred to as "relevant persons"). This announcement must not beacted on or relied on by persons who are not relevant persons. Any investment orinvestment activity to which this announcement relates is available only torelevant persons and will be engaged in only with relevant persons. Morgan Stanley & Co. International Limited is acting for Frontera ResourcesCorporation and no one else in connection with the placing, and will not beresponsible to anyone other than Frontera Resources Corporation for providingthe protections afforded to its clients or providing any advice in relation tothe placing. This announcement does not constitute or form part of an offer, or anysolicitation of an offer, for securities and any purchase of or application forshares in the placing should only be made on the basis of information containedin the formal admission document to be issued in connection with the placing.The price and value of, and income from, shares may go down as well as up.Persons needing advice should consult a professional adviser. Stabilisation /FSA This information is provided by RNS The company news service from the London Stock Exchange