Taribani update

13 November 2017

Frontera Resources Corporation

("Frontera Resources" or the "Company")

Taribani update 

Frontera Resources Corporation (AIM: FRR), the European-focused independent oil and gas exploration and production company, is pleased to provide the following update related to its work in Georgia.

On 10 November 2017, the Company received the drilling permit from the State Agency of Oil and Gas for operations at the well T-45 in the Taribani complex of Block 12, Georgia. As previously announced, T-45 is the second well to be drilled (by way of well deepening), following the sidetrack of the well Dino-2 which is planned to commence in January 2018. It is expected that drilling operations at T-45 will commence immediately after work at Dino-2 is completed.

The well T-45 will be extended to a target depth of 2700m and 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.

In line with the Company's previously announced work programs, after successful completion of preparatory technical work, the Company has selected the third well for drilling and sidetracking in the Taribani complex which will be the well T-39. Drilling permit application is expected to be filed with the State Agency of Oil and Gas in late November 2017. Drilling (sidetrack) operations at well T-39 are planned to commence after completion of drilling/deepening operations at well T-45.

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