HOUSTON, June 28 /PRNewswire/ --

Frontera Resources Corporation (London Stock Exchange, AIM Market -
Symbol: FRR), an independent oil and gas exploration and production company,
today announces an update on its operations in the Taribani Field Unit, Block
XII, Georgia.

(Logo: http://www.newscom.com/cgi-bin/prnh/20070628/NYTH038LOGO )

Summary

    -- Zone 9 development operations in progress.
    -- Plans for this year consist of the re-completion of Dino #2 well,
       followed by two new development wells.
    -- Eight additional Zone 9 wells planned in 2008.
    -- Specialized frac-pack completions designed to increase production
       rates and manage sediment control during production operations.

Steve C. Nicandros, President and Chief Executive Officer, commented:

"We are very pleased to have new operations underway at the Taribani
Field and we look forward to advancing the development of Zone 9 throughout
the rest of this year and beyond. Frontera's historical investment in this
large undeveloped field has positioned us well to now begin to realize the
significant value that this effort has identified."

Operations Update

Frontera is in the process of commencing its planned development program
within Zone 9 at the Taribani Field Unit through the re-entry of the Dino #2
well. The Dynamic #1 rig arrived on location during the month of June and is
currently in the final stages of rigging-up and passing requisite inspections
prior to commencement of re-entry operations within the next two weeks. Once
operations commence, Zone 9 intervals will be perforated between the depths
of 2,274 - 2,285 meters and between 2,300 - 2,312 meters. Re-completion of
the Dino#2 well is expected to take approximately 30 days. After perforation,
the well will be put on controlled production until a frac-pack completion is
applied in September, together with the next well to be drilled.

Once initial operations are completed at the Dino #2 well, the Dynamic #1
rig will immediately move a short distance within the field to commence
drilling at the Taribani #45 location. This well is scheduled to commence in
August and will take approximately fifty days to reach total depth and
complete in Zone 9. A third well, the Taribani South #1 is scheduled to
commence in October. Eight new additional wells are planned for 2008.

Frac-pack equipment will be mobilized to the Taribani Field in September
and, once drilling is completed at the Taribani #45 well, a frac-pack
completion is scheduled to be applied to this well and the Dino#2 well.
Completions will take approximately three days per well. Frac-Pac technology
is a designed solution to address possible formation sediment flow issues
associated with oil production from Zone 9. This is anticipated to more
efficiently achieve similar production/recovery results obtained from
drilling short-reach horizontal wells. Sediment control will come from
applying packing technology whereby screens are installed and gravel is
pumped into the well as a slurry, "packing" it behind the screen at the
formation face. The gravel and screen are designed to trap the reservoir
formation sediment before it can enter the well and cause obstruction.

The Zone 9 development program is a thirty-six month, 20-well program,
which represents approximately 17 percent of the reserves attributed to Zones
9, 14, 15 and 19 within the field.

Background on Taribani Field

The Taribani Field is a large, undeveloped oil field covering an area of
approximately 80 square kilometers with productive horizons situated in
Miocene and Pliocene age reservoirs. These reservoirs are situated at depths
between 2,200 meters and 3,500 meters. The independent consulting firm of
Netherland, Sewell & Associates has assigned 118 million barrels of P3
reserves from Zones 9, 14, 15 and 19 within the field. Additionally,
Netherland, Sewell & Associates has assigned as much as 36 million barrels of
unrisked resource potential associated with five deeper horizons in the
field.

Enquiries:

    Frontera Resources Corporation
    Liz Williamson
    Vice President Investor Relations and Corporate Communications
    Houston, Texas U.S.A.
    Office: +1-713-585-3216
    Email: lwilliamson@fronteraresources.com

    Brunswick Group LLP
    Patrick Handley / Mark Antelme
    London: +44-207-4045959

NOTE TO EDITORS:

1. 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 has operated in Georgia since 1997 where it holds
a 100 per cent 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.

2. The reserve information herein was determined by the independent
consulting firm of Netherland, Sewell & Associates in accordance with the
petroleum resource definitions adopted by the Society of Petroleum Engineers
(SPE), World Petroleum Council (WPC) and the American Association of
Petroleum Geologists (AAPG) in 2000.

3. This release contains certain forward-looking statements, including,
without limitation, expectations, beliefs, plans and objectives regarding the
potential transactions, potential drilling schedule and ventures discussed in
this release, as well as reserves, future drilling, development and
production. Among the important factors that could cause actual results to
differ materially from those indicated by such forward-looking statements are
future exploration and development results, availability and performance of
needed equipment and personnel, seismic data, fluctuations in oil and gas
prices, weather conditions, general economic conditions and the political
situation in Georgia and neighboring countries. 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.

For more information, please see http://www.fronteraresources.com .

Web site: http://www.fronteraresources.com