Parex Resources Inc.·Energy

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").

Parex Resources Inc. (PXT:CA) Q4 2025 Earnings Call Transcript

CALGARY, AB, March 2, 2026 /PRNewswire/ - Frontera Energy Corporation (TSX: FEC) ("Frontera" or the "Company") is today providing an update on the previously-announced unsolicited, non-binding proposal made by Parex Resources Inc. ("Parex") to acquire all of Frontera's upstream Colombian exploration and production business (the "Frontera E&P Assets"), being 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"). Since receipt of the non-binding proposal, consistent with its fiduciary responsibilities, the Frontera Board of Directors, in consultation with its outside legal counsel and independent financial advisors, has carefully reviewed and considered the Parex non-binding proposal and has had ongoing discussions and negotiations with Parex, including providing it with certain non-public information regarding Frontera pursuant to a confidentiality 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.

Parex Resources: The Rebound Continues
Parex Resources Inc. engages in the exploration, development, production of oil and natural gas in Colombia. The company holds interests in onshore exploration and production blocks totaling approximately 6,521,632 gross acres. As of December 31, 2021, it had proved plus probable reserves of 198,825 million barrels of oil equivalent. The company was incorporated in 2009 and is headquartered in Calgary, Canada.
Energy
Oil & Gas Exploration & Production
448
2010-03-18
0.47