Frontera Energy Corporation (TSX: FEC) (“Frontera” or the “Company”), announced today that it completed its previously announced offering of U.S.$350 million in senior unsecured notes due 2023 at a coupon rate of 9.70% (the “Notes”).

Richard Herbert, Chief Executive Officer of Frontera, commented:

“With the closing of this offering, the Company is well-positioned to execute on its strategy of sustainable production growth through high impact exploration and strategic initiatives. This is our first offering in the capital markets since the Company emerged from its financial restructuring in 2016 and we are very pleased with the support shown by investors to the Company through the purchasing of our notes. I would also like to commend our team, led by CFO David Dyck and Vice President Jorge Fonseca Chaumer, for successfully completing Frontera’s inaugural offering.”

Gabriel de Alba, Chairman of the Board of Directors, commented:

“The repayment of all principal invested in our previous secured notes, less than two years from issuance, shows the progress the Company has made in strengthening its financial position in a relatively short period of time. This offering concludes the refinancing of Frontera which also includes the refinancing of our Letter of Credit Facility.”

David Dyck, Chief Financial Officer of Frontera, commented:

“With the completion of this financing we have met our objectives of releasing the security on the Company’s assets and negotiating a more competitive set of covenants that are reflective of current market standards. The additional capital raised will improve our financial position as the Company continues to position itself for growth in 2018.”

About Frontera:

Frontera Energy Corporation is a Canadian public company and a leading explorer and producer of crude oil and natural gas, with operations focused in Latin America. The Company has a diversified portfolio of assets with interests in more than 30 exploration and production blocks in Colombia and Peru. The Company’s strategy is focused on sustainable growth in production and reserves. Frontera is committed to conducting business safely, in a socially and environmentally responsible manner. Frontera’s common shares trade on the Toronto Stock Exchange under the ticker symbol “FEC”.

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