Frontera Provides Colombian Update

Source: www.gulfoilandgas.com 6/3/2021, Location: South America

Frontera Energy Corporation announced that due to road blockades in the municipality of Puerto Gaitan, Colombia, which have restricted the Company's ability to transport its production by truck and deliver other essential operational supplies and support to its facilities, the Company has reached its on-site storage capacity and has temporarily shut-in approximately 3,600 boe/d of production at its CPE-6 operations. Year-to-date, the Company has averaged approximately 39,000 boe/d. At this time, the Company continues to maintain its production guidance of 40,500-42,500 boe/d for the year as it expects production volumes to increase in the second half of the year.

Frontera's diverse Colombian portfolio enables the Company to generate value-focused production and cash flow from across its operations and its transportation and logistics infrastructure has lessened potential day-to-day impacts to its production.

The Company is working with all levels of government and communities to understand and address local concerns and to resolve the blockades as quickly as possible. Frontera continues to monitor the situation and will provide updates on the situation when appropriate. Frontera continues to put the health and safety of its employees, contractors, service providers and communities first.


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