T-45 Update

20 February 2018

Frontera Resources Corporation

("Frontera" or "the Company")

T-45 Update

Frontera Resources Corporation (AIM: FRR), the European focused independent oil and gas exploration and production company, is pleased to announce that T-45, the first well of current three well drilling program at the Company's Taribani Complex of Block 12 in Georgia, has now been drilled to a target depth of 2700m, in the Eldari Formation.

The Company confirms that during drilling it has observed multiple oil and associated gas shows, notably:

· Oil stained cuttings observed from 2460m - 2475m (Zone 13).

· Formation gas kick was encountered at 2535m (Zone 14). This associated gas influx reduced the heavy drilling mud weight from 2.0 SG to 1.85 SG, indicating a highly charged hydrocarbon formation.

· Formation associated gas was detected at surface while drilling through an observed clean sandstone interval from 2565m to 2575m (Zone 14).

· Significant oil and associated gas shows recorded between 2630m and 2650m (Zone 15).

· A major associated gas kick occurred at 2633m resulting in a reduction of mud weight from 2.02 SG to 1.85 SG. Hydrocarbons flow back operations were initiated and a surface fluid flow rate of 383 bbls per day was recorded (with heavy drilling mud in the wellbore) and a calculated 7,500 psi bottom hole pressure. Elevated background gas with significant connection gas peaks was also encountered while continuing to drill through Zone 15 to a depth of 2650m.

· Intermittent oil shows with associated gas continued from 2650m - 2654m.

· Significant oil and associated gas shows recorded from 2685m to 2695m (Zone 15). Within this interval, a major associated gas kick occurred at 2692m with a calculated 7,800 psi bottom hole pressure.

Company cautions that, without further wireline logging and analysis, the positive initial indications should not be considered conclusive. The Company is progressing with the full data acquisition program and will report to the market in due course.

Zaza Mamulaishvili, President and Chief Executive Officer, commented:

"These have already been hugely exciting drilling operations for the Company. Very encouraging early indications of a highly charged hydrocarbon formation mark an exciting opportunity to develop Zones 14 and 15 of the Eldari formation together with Zone 9, which has been successfully tested for deliverability of long-term sustainable production. We look forward to updating the market as we continue making progress with the operations."

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

Enquiries:

Notes to Editors:

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). Dustin Aro, Frontera's Vice President, Well Completion and Stimulation, is the qualified person who reviewed and approved the technical information contained in this announcement on behalf of Frontera Resources. Mr. Aro has extensive experience in the oil and gas industry and holds a Bachelor of Science in Engineering and a Bachelor of Science in Business Administration from Michigan Technological University.

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. PSI - means pounds per square inch. SG - means Specific Gravity.