HOUSTON, TX, Jul 04, 2008 (MARKET WIRE via COMTEX) —-Frontera Resources Corporation (London Stock Exchange, AIM Market – Symbol: FRR; OTCQX Market, U.S.A. – Symbol: FRTE), an independent oil and gas exploration and production company, today announced completion of a private placement of $23.5 million principal amount of its 10% Convertible Notes due July 2013 (the “Notes”) and the release from escrow of the remaining $5 million in proceeds from its May 2007 private placement of convertible notes.

The resulting $28.5 million in newly available capital will be deployed to continue to advance ongoing work programs throughout Frontera’s primary business units within its Block 12 license area in the country of Georgia.