Holdings In Company

For immediate release 13 October 2011

FRONTERA RESOURCES CORPORATION

("Frontera" or the "Company")

Houston, Texas, U.S.A. - 13 October 2011

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, today announces that it received notification on 11 October 2011 from DDJ Capital Management, LLC ("DDJ") that certain funds and/or accounts managed by DDJ have disposed of, in aggregate, 24,485,000 shares of the Company's common stock (the "Disposal").

Following the Disposal, funds and/or accounts managed by DDJ are beneficially interested in 467,208,542 shares of the Company's common stock, representing 23.21 per cent. of the Company's issued and outstanding shares of common stock.

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:

Arbuthnot Securities LimitedRichard Johnson / Adam Lloyd+44 (0)20 7012 2000

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

Cornhill Capital LimitedNick Bealer/Stefan Olivier+44 (0)20 7012 2000

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.