CALGARY,
AB, April 11, 2023 /CNW/ - Frontera Energy
Corporation (TSX: FEC) ("Frontera" or the "Company")
announces today that it has designated Frontera Energy Guyana
Holding Ltd. and Frontera Energy Guyana Corp. ("Frontera
Guyana") as unrestricted subsidiaries and released Frontera
Guyana as a note guarantor under the indenture governing the
Company's outstanding US$400 million
unsecured notes due in June 2028 (the
"2028 Notes"). This designation is consistent with the
Company's focus on maximizing value and better aligns Frontera's 3
core businesses: Upstream, Midstream and Guyana, to achieve the Company's strategic
priorities.
Following this designation, Frontera Energy Colombia AG shall
remain as the sole guarantor of the 2028 Notes. For the fiscal year
ended December 31, 2022, Frontera
Energy Colombia AG represented over 101% of the Company's total
consolidated EBITDA.
About Frontera
Frontera Energy Corporation is a Canadian public company
involved in the exploration, development, production,
transportation, storage and sale of oil and natural gas in
South America, including related
investments in both upstream and midstream facilities. The Company
has a diversified portfolio of assets with interests in 31
exploration and production blocks in Colombia, Ecuador and Guyana, and pipeline and port facilities in
Colombia. Frontera is committed to
conducting business safely and in a socially, environmentally and
ethically responsible manner.
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Corporate Presentation
See Frontera's corporate
presentations at:
https://www.fronteraenergy.ca/reports-presentations/
Social Media
Follow Frontera Energy social media channels at the following
links:
Twitter: https://twitter.com/fronteraenergy?lang=en
Facebook: https://es-la.facebook.com/FronteraEnergy/
LinkedIn: https://co.linkedin.com/company/frontera-energy-corp.
Advisories
Forward-Looking Statements
This news release contains forward-looking information within
the meaning of Canadian securities laws. Forward-looking
information relates to activities, events, or developments that the
Company believes, expects, or anticipates will or may occur in the
future. Forward-looking information in this news release includes,
without limitation, statements relating to the Company's continuing
focus on maximizing value and better aligning Frontera's 3 core
businesses: Upstream, Midstream and Guyana, to achieve the Company's strategic
priorities. All information other than historical
fact is forward-looking information.
Forward-looking information reflects the current
expectations, assumptions and beliefs of the Company based on
information currently available to it and considers the Company's
experience and its perception of historical trends.
Although the Company believes that the assumptions inherent
in the forward-looking information are reasonable, forward-looking
information is not a guarantee of future performance and
accordingly undue reliance should not be placed on such
information. Forward-looking information is subject to a number of
risks and uncertainties, some that are similar to other oil and gas
companies and some that are unique to the Company. The actual
results may differ materially from those expressed or implied by
the forward-looking information, and even if such actual results
are realized or substantially realized, there can be no assurance
that they will have the expected consequences to, or effects on,
the Company. The Company's annual information form dated
March 1, 2023, its annual
management's discussion and analysis for the year ended
December 31, 2022, and other
documents it files from time to time with securities regulatory
authorities describe the risks, uncertainties, material assumptions
and other factors that could influence actual results and such
factors are incorporated herein by reference. Copies of these
documents are available without charge by referring to the
Company's profile on SEDAR at www.sedar.com. All forward-looking
information speaks only as of the date on which it is made and,
except as may be required by applicable securities laws, the
Company disclaims any intent or obligation to update any
forward-looking information, whether as a result of new
information, future events or results or otherwise.
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SOURCE Frontera Energy Corporation