Mobilisation of Drilling Rig to T-45 Well

10 January 2018

Frontera Resources Corporation

("Frontera Resources" or "the Company")

Mobilisation of Drilling Rig to T-45 Well

Frontera Resources Corporation (AIM: FRR), the European-focused oil and gas exploration and production company, is pleased to announce that it has received the notification from the Company's drilling contractor, Gulf Drilling Supply FZY ("Gulf"), regarding the mobilisation of the drilling rig to the T-45 well.

Gulf, the Dubai-based international drilling services company, has notified the Company that on 15 January 2018 it will commence mobilisation of the drilling rig from Gulf's base in western Azerbaijan to the T-45 well site, in order to start the Company's previously announced three-well drilling campaign in the Taribani field, situated inside the 800 km2 Taribani complex area, located in onshore Block 12, Georgia.

The Company has decided to start its three-well drilling campaign with the well deepening at T-45, because it is an easier operation compared to the well sidetracking at Dino-2 and T-39. It is anticipated that Gulf's drilling rig will begin operations at T-45 at the end of January 2018.

The well T-45 will be the first well to be drilled and extended (by way of deepening) to a target depth of 2700m. Zones 9, 14 and 15 of the Eldari reservoir will be stimulated and produced together in a similar manner as previously announced on 10 October 2017 in respect of the well Dino-2, which will now be the second well to be drilled (sidetrack) to a target depth of 2700m, with Zones 9, 14 and 15 of the Eldari reservoir stimulated and produced together. Drilling (sidetrack) operations at the well T-39 are planned to commence immediately after the completion of the drilling (sidetrack) operations at the well Dino-2. The well T-39 will be drilled to a target depth of 2800m, and Zones 9, 14, and 15 of the Eldari reservoir will be stimulated and produced together in a similar manner as in the wells T-45 and Dino-2.

Testing of the well T-45 is expected to commence in late February. Testing of the well Dino-2 is expected to commence at the end of March. Testing of the well T-39 is expected to commence at the end of April.

According to the estimates produced by Netherland, Sewell and Associates, Zones 9, 14 and 15 in the Taribani complex are estimated to have 689 million barrels of oil in place with 103.5 million barrels considered to be recoverable.

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About Frontera Resources Corporation

Frontera Resources Corporation is an independent, international oil and gas exploration and production company whose strategy is to identify opportunities and operate in emerging markets in Eastern Europe around the Black Sea. Frontera Resources Corporation shares are traded on the London Stock Exchange, AIM Market - Symbol: FRR. For more information, please visit www.fronteraresources.com .

1. Information on Resource Estimates: The independent contingent and prospective resources estimates contained in this announcement were determined by the independent consulting firm of Netherland, Sewell & Associates (NSA) in accordance with the definitions and guidelines set forth in the 2007 Petroleum Resources Management System (PRMS) adopted by the Society of Petroleum Engineers (SPE).

2. This release may contain certain forward-looking statements, including, without limitation, expectations, beliefs, plans and objectives regarding the transactions, work programs and other matters discussed in this release. Exploration for oil is a speculative business that involves a high degree of risk. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: risks inherent in oil and gas production operations; availability and performance of needed equipment and personnel; the Company's ability to raise capital to fund its exploration and development programs; seismic data; evaluation of logs, cores and other data from wells drilled; inherent uncertainty in estimation of oil and gas resources; fluctuations in oil and gas prices; weather conditions; general economic conditions; the political situation and relations with neighboring countries; and other factors listed in Frontera's financial reports, which are available at www.fronteraresources.com. There is no assurance that Frontera's expectations will be realized, and actual results may differ materially from those expressed in the forward-looking statements.

3. Glossary of Terms: BCF - means Billion Cubic Feet of gas. TCF - means Trillion Cubic Feet of gas. Mcf - means Thousand Cubic Feet of gas. OOIP - means Original Oil in Place. OGIP - means Gas in Place. Bopd - means Barrels of Oil Per Day. PPG - means pounds-per-gallon.