Issue of Equity

FRONTERA RESOURCES CORPORATION

Houston, Texas, U.S.A. - 27 October 2010

ISSUE OF NEW SHARES

Frontera Resources Corporation (London Stock Exchange, AIM Market - Symbol: FRR; OTC Market - Symbol: FRTE), an independent oil and gas exploration and production company ("Frontera" or the "Company"), today announces the issue of 3,525,000 new shares of Common Stock to certain unrelated third parties in connection with services provided by such parties (the "New Common Stock").

Application has been made for the New Common Stock to be admitted to trading on AIM, which is anticipated to occur on 1 November 2010 ("Admission"). The New Common Stock will rank pari passu with existing shares of Common Stock.

Following Admission, the enlarged issued share capital of the Company will be 135,318,282 shares of Common Stock (excluding 5,739,855 shares held as treasury stock).

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

Richard Johnson

+44 (0)20 7012 2000