Frontera Resources Corporation Update on Progress in Ukraine (7578K)

TIDMFRR

RNS Number : 7578K

Frontera Resources Corporation

12 July 2017

Update on Progress in Ukraine

Houston, Texas, U.S.A. - 12 July 2017

Frontera Resources Corporation

("Company")

Update on Progress in Ukraine

Frontera Resources Corporation (AIM: FRR), an independent oil and gas exploration and production company, today provides update on its progress in Ukraine.

On 23 June 2017, an Interagency Commission for Production Sharing Agreements Execution and Performance of Ukraine (the "Commission") held a meeting in Kiev, Ukraine. The Commission reviewed the Company's request regarding hydrocarbons exploration and production projects in Ukraine, namely in southern part of Ukraine in Odessa oblast and offshore Ukraine in western part of the Black Sea shelf.

The Commission's meeting was chaired by Mr. Igor Nasalyk, Minister of Energy and Coal Industry of Ukraine, and consisted of representatives of various government authorities that are members of the Commission. The Commission resolved to hold further consultations in regards to the location and size of the license areas sought by the Company for exploration, and recommended that discussions be also held with relevant local authorities.

Official statement of the Ministry of Energy and Coal Industry of Ukraine with respect to the meeting of the Commission may be viewed here (in Ukrainian): http://mpe.kmu.gov.ua/minugol/control/publish/article?art_id=245219802

Zaza Mamulaishvili, President and Chief Executive Officer, commented:

"We are very pleased with the way discussions with the government of Ukraine are unfolding and would like to positively comment on the welcoming environment for foreign investment in the country's energy industry. The Company intends to continue these discussions and hopes to be able, in near future, to add to its portfolio an upstream asset in Ukraine, which together with onshore assets in Georgia and Moldova will be an important element of the Company's Greater Black Sea Strategy."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Enquiries:

Frontera Resources Corporation

Jesse Jefferies

[phone]

[e-mail]

Financial PR/IR

Abchurch

Tim Thompson

[phone]

[e-mail]

Nominated Adviser

Cairn Financial Advisers LLP

Jo Turner/ Liam Murray

[phone]

Broker

Cornhill Capital Limited

Nick Bealer

[phone]

This information is provided by RNS

The company news service from the London Stock Exchange

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July 12, 2017 02:00 ET (06:00 GMT)