Frontera Resources Regulatory News (FRR)

Frontera Resources Corporation

Frontera Resources Announces Reduction in Corporate Debt

FRONTERA RESOURCES CORPORATION

("FRONTERA" OR THE "COMPANY")

Houston, Texas, U.S.A. - 7 April 2015

Frontera Resources Corporation (London Stock Exchange, AIM Market - Symbol: FRR), an independent oil and gas exploration and production company, today announces that the Company has repaid USD 1,262,421.81 (GBP 850,114.85) in accordance with its previously announced SEDA-Backed Loan Agreement entered into with YA Global Master SPV Ltd ("Loan Agreement"). The funds were raised through a draw down on the Company's previously announced Standby Equity Distribution Agreement ("SEDA") with YA Global Master SPV Ltd. The draw down has been undertaken at a price of GBP 0.009606 per ordinary share of $0.00004 in the capital of the Company ("Ordinary Shares") in accordance with the terms of the SEDA, and will result in the issue of 88,497,626 new Ordinary Shares ("New Ordinary Shares"). Following this repayment, the Company's outstanding corporate debt under the terms of the Loan Agreement is USD 2.33 million (GBP 1.566 million).

Application has been made for the New Ordinary Shares to be admitted to trading on AIM, which is anticipated to occur on 10 April 2015 ("Admission"). On Admission the New Ordinary Shares will rank pari passu with the Company's existing issued Ordinary Shares.  The New Ordinary Shares will represent approximately 3.04% of the enlarged issued share capital of the Company.

Following Admission, the Company will have 2,909,342,823 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 New Ordinary Shares will rank pari passu in all respects with existing ordinary shares of the Company. 

The aforementioned figure of 2,909,342,823 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.

Enquiries:

Frontera Resources Corporation

Liz Williamson

Vice President, Investor Relations and Corporate Communications

(713) 585-3216

lwilliamson@fronteraresources.com

Nominated Adviser:

Cairn Financial Advisers LLP

61 Cheapside, London EC2V 6AX

Jo Turner/Avi Robinson

+44 (0) 20 7148 7900

Broker:

Cornhill Capital Limited

Nick Bealer / Stefan Olivier

+44 (0)20 7710 9610

Financial PR:

Buchanan

Helen Chan

+44 (0)20 7466 5000

helenc@buchanan.uk.com