Repayment and Extension of Loans

Houston, Texas, U.S.A. - 31 December 2014

FRONTERA RESOURCES CORPORATION

(the "Company")

Repayment and Extension of Loans

Frontera Resources Corporation (London Stock Exchange, AIM Market - Symbol: FRR), an independent oil and gas exploration and production company, today announces that, as described in the Company's first half 2014 financial results released on 30 September 2014, out of $5.5 million debt with maturities as of 31 December 2014, the Company has repaid $1.0 million in accordance with its previously announced SEDA-Backed Loan Agreement entered into with YA Global Master SPV Ltd ("Loan Agreement") using funds generated from the Company's operations and extended for one year the maturity dates in respect of the remaining amount, comprising $0.9 million drawn pursuant to the Loan Agreement and $3.6 million of related party notes.

Enquiries:

Frontera Resources Corporation

Liz Williamson

Vice President, Investor Relations and Corporate Communications

(713) 585-3216

[email protected]

Nominated Adviser:

Cairn Financial Advisers LLP

61 Cheapside, London EC2V 6AX

Jo Turner/Avi Robinson

+44 (0) 20 7148 7900

Broker

Cornhill Capital Limited

Nick Bealer / Stefan Olivier

+44 (0) 207 710 9610

Financial PR:

Buchanan

Helen Chan

+44 (0) 20 7466 5000

[email protected]