Frontera Resources Continues Development Drilling at the Mtsare Khevi
Field in Georgia

HOUSTON, TX--(Marketwire - March 17, 2009) - 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 the continuation of its
development drilling program at the Mtsare Khevi Field within its
Shallow Fields Production Unit, Block 12, in the country of Georgia.

Following a brief pause in development drilling operations at the end
of last year in order to observe and study results from the thirteen
wells that had been drilled through December, the Mtsare Khevi #27
development well was recently drilled and completed and is currently
being placed into production. This well is part of an ongoing program
designed to continue to increase production and expand development
drilling into the northwestern portion of the Mtsare Khevi Field's
structure. Results from wells drilled in this portion of the field have
yielded the best sustainable daily production rates from the historical
drilling campaign to date, averaging 30-40 barrels per day per well
from one of three objective horizons.

Since development drilling operations commenced in August 2008,
drilling operations have targeted three reservoir objectives within the
Upper Pliocene age Akchagil formation as part of a rolling development
program. All 14 wells drilled to date have reached total measured
depths of approximately 355 meters (1,170 feet) and each has
encountered multiple hydrocarbon bearing zones situated between 200 and
315 meters in depth. Well log analysis continues to indicate
approximately 20-30 meters of gross pay in each well. Since the start
of the development drilling campaign, nine wells have been categorized
as oil wells with initial rates from single horizons as high as 40
barrels per day of 21 to 28 degree API oil. In addition, five wells
have been categorized as gas wells with initial rates of as much as 1.2
million cubic feet of gas per day.

Daily production from the field is currently approximately 140 barrels
per day of oil and is expected to continue to increase as a result of
ongoing operations. With the continuation and increase of sustainable
production, permanent processing facilities are currently being
constructed within the field. Additionally, as five wells to date are
considered to be reserved for future gas production, a study is
underway to determine the feasibility of commercializing this resource,
as the local gas sales grid is situated within five kilometers of the
field.

The Mtsare Khevi Field is located in the western portion of Block 12
with multiple objective reservoirs situated at depths between 200
meters and 1,100 meters. The field was discovered and partially
delineated with multiple exploration wells from 1989 to 1994, but never
developed and produced. After completing a field study in 2007 that
indicated this field potentially contains as much as 5 million barrels
of recoverable oil reserves, Frontera designed a plan to bring the
shallow reservoirs from the Akchagil formation into production.
Additional reserve potential exists in deeper Miocene age sandstone
horizons that have previously tested and flowed oil. This potential is
currently under study and will become a focus of future operations to
fully develop the Mtsare Khevi Field. Rigs and equipment sourced from
within Georgia are being utilized to undertake the currently ongoing
development program.

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

'With the completion of our most recent development well and
progression of field processing facility installation at the Mtsare
Khevi Field, results continue to reveal a profitable development
profile such that we are increasingly confident that this field will
continue to provide important near term value creation for our
company.'

Frontera's Shallow Fields Production Unit is located in the central
portion of Block 12 and represents what the company believes to be an
extensive trend of low-cost, low-risk undeveloped oil and gas reserves.
Containing four discovered yet undeveloped or underdeveloped fields
that have additional exploration potential, objectives are considered
to be traditional, well-known reservoirs of Pliocene and Miocene age
that are situated at depths from 10 meters to 1,500 meters.

Notes to editors:

1. Frontera Resources Corporation is an independent Houston, Texas,
U.S.A.-based international oil and gas exploration and production
company whose strategy is to identify opportunities and operate in
emerging markets around the world. Frontera has operated in Georgia
since 1997 where it holds a 100 percent working interest in a
production sharing agreement with the government of Georgia. This gives
Frontera the exclusive right to explore for, develop and produce oil
and gas from a 5,060 square kilometer area in eastern Georgia known as
Block 12. Frontera Resources Corporation shares are traded on the
London Stock Exchange, AIM Market - Symbol: FRR and via the
Over-the-Counter Market, U.S.A. - OTCQX Symbol: FRTE. For more
information, please visit www.fronteraresources.com. For more
information regarding Frontera's work at the Shallow Fields Production
Unit, please visit: www.fronteraresources.com/Operations.php?link_id=43.

2. Gerard Bono, Frontera's Vice President and Chief Reservoir Engineer,
is the qualified person who reviewed and approved the estimated reserve
information contained in this announcement. These estimates are
currently being reviewed by Netherland, Sewell & Associates and will be
released as soon as practicable.

3. This release contains certain forward-looking statements, which may
include, without limitation, expectations, beliefs, plans and
objectives regarding potential transactions or ventures, potential
drilling schedule, reserves and well performance, as well as future
drilling, development and production. Among the important factors that
could cause actual results to differ materially from those indicated by
such forward-looking statements are: exploration and development
results; availability and performance of needed equipment and
personnel; seismic data; evaluation of logs and cores from wells
drilled; results of production testing; fluctuations in oil and gas
prices; weather conditions, general economic and capital markets
conditions; the political situation in Georgia and neighboring
countries; and other factors listed in Frontera's financial reports,
which are available at www.fronteraresources.com/Investors.php?link_id=23.
There is no assurance that Frontera's expectations will be
realized, and actual results may differ materially from those expressed
in the forward-looking statements. 


Enquiries:

Frontera Resources Corporation
Liz Williamson
Vice President, Investor Relations and Corporate Communications
(713) 585-3216
lwilliamson@fronteraresources.com

Nominated Advisor:

Morgan Stanley
Jon Bathard-Smith
+44 20 7425 8000