In a separate agreement, Frontera engaged SMH Market & Liquidity ServicesLLC, an affiliate of SMH Capital Inc., to provide capital markets advisory,strategic investor communication, in-depth company research and analysis,and trading monitoring and services.

Frontera Resources began trading publicly in March 2005 on the London StockExchange's AIM Market, which remains the Company's primary securitiesmarket, under the symbol FRR and with Morgan Stanley & Co. Internationalplc as its Nominated Advisor (NOMAD). The Company began quotation on theOTCQX market in February 2008 to provide enhanced exposure, tradingvisibility and liquidity in the U.S. capital markets via the premium OTCQXtrading, quotation and disclosure platform.

Steve C. Nicandros, Chairman and Chief Executive Officer, commented:

"As part of our ongoing effort to enhance Frontera's exposure to worldwidefinancial markets, we are very pleased to announce this new relationshipwith SMH Capital. We believe their extensive expertise will enable ourcompany to increase its visibility to U.S. investors and effectively allowour business to reach a broader investor base."

Notes to Editors:

1. Frontera Resources Corporation is an independent Houston, Texas,U.S.A.-based international oil and gas exploration and production companywhose strategy is to identify opportunities and operate in emerging marketsaround the world. Frontera has operated in Georgia since 1997 where itholds a 100 percent working interest in a production sharing agreement withthe government of Georgia. This gives Frontera the exclusive right toexplore for, develop and produce oil and gas from a 5,060 square kilometerarea in eastern Georgia known as Block 12. For more information aboutFrontera Resources, please see www.fronteraresources.com.

2. SMH Capital Investment Banking Group is a division of SMH CapitalInc. (member FINRA/SIPC), the broker-dealer and largest subsidiary ofSanders Morris Harris Group. SMH Capital Investment Banking Group is afull-service investment bank providing middle-market companies with privateplacements and public offerings of equity and debt securities, as well asfinancial-advisory services in connection with mergers and acquisitions,restructuring and recapitalizations. SMH Capital Investment Banking Groupprovides a full spectrum of investment banking services, including raisingcapital, research coverage, creating liquidity, trading and market making,merger and acquisition advisory services, sales support, and investorconferences. For more information, please see www.smhib.com.

3. Morgan Stanley is a leading global financial services firm providing awide range of investment banking, securities, investment management andwealth management services. The Firm's employees serve clients worldwideincluding corporations, governments, institutions and individuals from morethan 600 offices in 32 countries. For further information about MorganStanley, please visit www.morganstanley.com.

4. This release contains certain forward-looking statements, including,without limitation, expectations, beliefs, plans and objectives regardingthe potential transactions, potential drilling schedule, well results andventures discussed in this release, as well as reserves, future drilling,development and production. Among the important factors that could causeactual results to differ materially from those indicated by suchforward-looking statements are: future exploration and developmentactivities; availability and performance of needed equipment and personnel;seismic data; evaluation of logs and cores from wells drilled; fluctuationsin oil and gas prices; weather conditions; general economic conditions; thepolitical situation in Georgia and neighboring countries; and other factorslisted in Frontera's financial reports, which are available atwww.fronteraresources.com/investors.php?link_id=23. There is no assurancethat Frontera's expectations will be realized, and actual results maydiffer materially from those expressed in the forward-looking statements.

Enquiries:Frontera Resources CorporationLiz WilliamsonVice President, Investor Relations and Corporate Communications(713) 585-3216Email ContactBrunswick Group LLPPatrick Handley / Camilla GoreLondon: +44 207 4045959Nominated Advisor:Morgan StanleyJon Bathard-Smith+44 20 7425 8000