Frontera Energy Corporation (TSX: FEC) (“Frontera” or the “Company”) today announced that it has acknowledged the receipt of Parex Resources Inc. (“Parex”) of an unsolicited proposal to acquire all of Frontera’s upstream Colombian exploration and production activities (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 agreement between Frontera and GeoPark dated January 29, 2026 (the “GeoPark Arrangement Agreement”).
Consistent with its fiduciary responsibilities, Frontera’s Board of Directors, in consultation with its legal and financial advisors, is carefully examining and considering the unsolicited Parex proposal.
Frontera will continue to advance the transaction under the GeoPark Arrangement Agreement to sell the Frontera E&P Assets to GeoPark, which was announced on January 30, 2026. At this time, Frontera’s board continues to recommend the GeoPark transaction to its shareholders.
About Frontera:
Frontera Energy Corporation is a Canadian government-owned company engaged in the exploration, development, production, transportation, storage and sale of oil and natural gas in South America, including related investments in both upstream and midstream facilities. The company has a diversified asset portfolio with interests in 18 exploration and production blocks in Colombia and Guyana, and pipeline and port facilities in Colombia. Frontera strives to do business safely and in a socially, environmentally and ethically responsible manner.
Social media
Follow Frontera Energy’s social media channels via the following links:
Twitter: https://twitter.com/fronteraenergy?lang=en
Facebook: https://es-la.facebook.com/FronteraEnergy/
LinkedIn: https://co.linkedin.com/company/frontera-energy-corp
Advice:
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. The use of the words “estimate,” “will,” “should,” “believe,” “plan,” “expect,” “potential” and similar expressions are intended to identify forward-looking statements. Forward-looking statements are often, but not always, identified by such words. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements.
In particular, and without limiting the foregoing, this press release contains forward-looking statements regarding a potential transaction between Frontera and a third party that has made a non-binding offer to acquire Frontera’s Frontera E&P Assets, and the process and timing for the current proposed transaction between Frontera and GeoPark. These forward-looking statements reflect the Company’s current expectations or beliefs based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that could cause the Company’s actual results to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or materially accomplished, there can be no assurance that they will have the expected effects on, or impacts on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to: failure to proceed with a potential transaction with the third party; and the inability to obtain all necessary court, third party and shareholder approvals to complete the transaction with GeoPark and the risk that such transaction may be modified, accelerated or terminated in certain circumstances.
Any forward-looking statement speaks only as of the date on which it is made and, except as required by applicable securities laws, the Company disclaims any intention or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, therefore, undue reliance should not be placed on such statements due to the inherent uncertainty therein.
If you would like to receive news alerts by email as soon as they are published, subscribe here: http://fronteraenergy.mediaroom.com/subscribe.
www.fronteraenergy.ca
View original content:https://www.prnewswire.com/news-releases/frontera-energy-acknowledges-receipt-and-is-considering-the-unsolicited-proposal-from-parex-resources-inc-302695217.html
SOURCE Frontera Energy Corporation
#Frontera #Energy #acknowledges #receipt #consideration #Parex #Resources #Inc.s #unsolicited #proposal