Holding(s) in Company

FRONTERA RESOURCES CORPORATION

("Frontera" or the "Company")

Houston, Texas, U.S.A. - 10 January 2012

HOLDINGS IN COMPANY

Frontera Resources Corporation (London Stock Exchange, AIM Market, FRR), the oil and gas exploration and production company with assets in the country of Georgia, announces that it received notification yesterday from Outrider Management, LLC that, following the acquisition of 152,068,344 ordinary shares of USD0.00004 in the Company ("Ordinary Shares") from Plainfield Asset Management LLC, Outrider Management, LLC is now beneficially interested in 152,068,344 Ordinary Shares, representing approximately 7.34 per cent. of the Company's issued share capital.

As a result of this transaction, Plainfield Asset Management LLC no longer holds a notifiable interest in the Company's issued share capital.

Enquiries:

Frontera Resources CorporationLiz WilliamsonVice President, Investor Relations and Corporate Communications(713) 585-3216[email protected]

Nominated Adviser:

Strand Hanson LimitedJames Harris / Andrew Emmott / Paul Cocker / Liam Buswell+44 (0)20 7409 3494

Brokers:

finnCap Limited

Sarah Wharry

+44 (0) 20 7220 0500

Old Park Lane Capital PlcMichael Parnes / Luca Tenuta+44 (0)20 7493 8188

Cornhill Capital LimitedNick Bealer / Stefan Olivier+44 (0)20 7710 9610

Financial PR:

BuchananTim Thompson / Ben Romney+44 (0)20 7466 5000[email protected]

Notes to Editors:

About Frontera Resources Corporation

Frontera Resources Corporation is an independent Houston, Texas, U.S.A.-based international oil and gas exploration and production company whose strategy is to identify opportunities and operate in emerging markets around the world. Frontera currently operates in the country of Georgia where it holds a 100 percent working interest in a production sharing agreement with the government of Georgia. This gives Frontera the exclusive right to explore for, develop and produce oil and gas from a 5,060 square kilometer area in eastern Georgia known as Block 12. Frontera Resources Corporation shares are traded on the London Stock Exchange, AIM Market - Symbol: FRR. For more information, please visitwww.fronteraresources.com.