Frontera Resources Corporation, an independent oil and gas exploration and production company, today announces an update on its operations in the Taribani Field Unit, Block XII, Georgia.

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.