Frontera Energy Corporation·Energy

Special Meeting of Shareholders to Approve Colombian E&P Divestiture to Parex on April 30, 2026 Recorded Fourth-Quarter Net Loss from Continuing Operations of $663 Million, Including Non‑Cash Impairment Related to the Divestment of the Colombian E&P Assets Portfolio ($603 million) and the Guyana Interest ($17 Million) Strong Business Performance, Achieved All 2025 Guidance Metrics, Including FY 2025 Average Production of 39,011 boed, Operating EBITDA of $308 Million, Production of $9.23/boe, Energy of $5.49/boe and Transportation Costs of $12.00/boe Year-End Gross Reserves: 94.4 Million Boe 1P and 133.8 Million Boe 2P Definitive Agreement Signed to Divest the Company's Colombian E&P Assets Portfolio for a Firm Value of Approximately $750 Million with Parex, Including $525 Million in Equity Consideration Targeting $470 Million in Shareholder Distributions from the Sale, (Approximately CAD $9.18 per share), Including the $25 Million Contingent Payment Frontera Emerges as a New Infrastructure-Focused Business Anchored by its Interest in ODL and Puerto Bahía, and with Significant Growth Opportunities Including the Potential LNG Regasification Project with Ecopetrol Full Year Adjusted Infrastructure EBITDA of $116.6 million, Distributable Cash Flow of $76.7 million and Segment Income of $40.9 million, Led by Strong Performance of the ODL Pipeline CALGARY, AB, March 18, 2026 /PRNewswire/ - Frontera Energy Corporation (TSX: FEC) (OTCQX: FECCF) ("Frontera" or the "Company") today reported financial and operational results for the fourth quarter and year ended December 31, 2025, and the results of its annual independent reserves assessment conducted by DeGolyer and MacNaughton Corp ("D&M"). Figures from previous reporting periods were changed due to the re-presentation of continuing operations following the divestment of non-core assets in Ecuador.

Energy firm GeoPark on Monday decided not to raise its offer for the Colombian oil and gas assets of Frontera Energy , after Frontera deemed a competing offer from Parex Resources to be "superior."

Toronto-listed Frontera Energy Corporation said in a statement late on Thursday that its board, in consultation with legal counsel and independent financial advisors, has determined the binding offer received from Parex Resources Inc. to acquire its Colombian upstream operations is superior proposal to another bid previously received from Geopark.

CALGARY, AB, March 5, 2026 /PRNewswire/ - Frontera Energy Corporation (TSX: FEC) ("Frontera" or the "Company") announces today that the Frontera Board of Directors, in consultation with its external legal counsel and independent financial advisors, has determined that the binding offer (the "Parex Offer") received from Parex Resources Inc. ("Parex") to acquire all of Frontera's upstream Colombian exploration and production business (the "Frontera E&P Assets") constitutes a "Superior Proposal" (as defined in the GeoPark Arrangement Agreement described below). Under the Parex Offer, Parex would acquire the same assets that Frontera has agreed to sell to a subsidiary of GeoPark Limited ("GeoPark") under the previously announced arrangement agreement between Frontera and GeoPark dated January 29, 2026 (the "GeoPark Arrangement Agreement").

CALGARY, AB, Feb. 23, 2026 /PRNewswire/ - Frontera Energy Corporation (TSX: FEC) ("Frontera" or the "Company") announces today that it acknowledges receipt from Parex Resources Inc. ("Parex") of an unsolicited proposal to acquire all of Frontera's upstream Colombian exploration and production business (the "Frontera E&P Assets"), being the same assets that that Frontera has agreed to sell to a subsidiary of GeoPark Limited ("GeoPark") under the previously announced arrangement agreement between Frontera and GeoPark dated January 29, 2026 (the "GeoPark Arrangement Agreement"). Consistent with its fiduciary responsibilities, the Frontera Board of Directors, in consultation with its legal and financial advisors, is carefully reviewing and considering the unsolicited Parex proposal.

Parex Resources said on Monday it has submitted an all-cash proposal to acquire the Colombian upstream operations of Frontera Energy for $500 million.
Frontera Energy Corporation explores for, develops, and produces crude oil and natural gas in South America. The company has a portfolio of assets, which consists of interests in 35 exploration and production blocks in Colombia, Ecuador, Guyana, and Peru; and in pipeline and port facilities in Colombia. As of December 31, 2021, it had total proved plus probable reserves of 167 million barrels of oil equivalent. The company was formerly known as Pacific Exploration & Production Corporation and changed its name to Frontera Energy Corporation in June 2017. Frontera Energy Corporation was incorporated in 1985 and is headquartered in Calgary, Canada.
Energy
Oil & Gas Exploration & Production
1,068
2016-11-04
0.80