Frontera Energy has obtained a final order from the Supreme Court of British Columbia approving the previously announced plan of arrangement pursuant to which Parex Resources, through its wholly-owned subsidiary, Parex AcquisitionCo Inc. will acquire all of Frontera's Colombian upstream business consisting of Frontera's oil and gas exploration and production assets in Colombia, its reverse osmosis water treatment facility and its palm oil plantation. The granting of the Final Order was a condition to the completion of the Arrangement.
Completion of the Arrangement remains subject to the satisfaction or waiver of the remaining conditions precedent set out in the arrangement agreement entered into between Frontera, Parex and the Purchaser in respect of the Arrangement. If all remaining conditions are satisfied or waived, the Company expects the Arrangement to be completed in May 2026.
Additional information regarding the Arrangement is contained in the management information circular of Frontera dated March 30, 2026 prepared in respect of the Arrangement, a copy of which is available under Frontera's profile on SEDAR+ at www.sedarplus.ca.
About Frontera:
Frontera Energy Corporation is a Canadian public company dedicated to energy-focused investments in South America, including a significant footprint in midstream assets in Colombia, such as Puerto Bahia and the ODL pipeline as well as exploration and development assets with interests in 18 blocks in Colombia and Guyana. Frontera has entered into a transaction pursuant to which its interest in the 17 blocks in Colombia together with its Proagrollanos and Agrocascada assets, are being sold, with closing expected in the second quarter of 2026. Frontera is committed to conducting business safely and in a socially, environmentally and ethically responsible manner.
