Frontera Completes Settlement Agreement with Cenit and Bicentenario

About this update from Frontera Energy Corporation

[{"type":"text","content":"\n \n \n \n Frontera Completes Settlement Agreement with Cenit and Bicentenario\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TRANSPORTATION DISPUTES FULLY RESOLVED\n \n \n \n \n LARGE LEGACY CONTINGENT LIABILITY ELIMINATED\n \n \n \n \n FRONTERA MOVES FORWARD WITH SMALL TRANSPORTATION AGREEMENTS, PAYMENT NOT REQUIRED WHEN SERVICE IS SUSPENDED\n \n \n \n \n CALGARY, AB\n \n ,\n \n Nov. 11, 2021\n \n /CNW/ - Frontera Energy Corporation (TSX: FEC) (\"\n \n Frontera\n \n \" or the \"\n \n Company\n \n \"), Cenit Transporte y Logística de Hidrocarburos S.A.S. (\"\n \n CENIT\n \n \") and Oleoducto Bicentenario de Colombia S.A.S. (\"\n \n Bicentenario\n \n \") separately announced today that the Administrative Tribunal of Cundinamarca approved the conciliation agreement (the \"\n \n Conciliation Agreement\n \n \") between Frontera, CENIT, and Bicentenario and that they have concluded the final formalities of the settlement arrangement. The settlement arrangement is now finalized and in full force.\n \n \n \n \n Gabriel de Alba\n \n , Chairman of the Board of Directors, commented\n \n :\n \n \n \n \"This completed settlement represents the final step in resolving all the disputes between the parties related to the Bicentenario Pipeline and the Caño Limón – Coveñas Pipeline. This eliminates a large contingent liability and is an incredibly important milestone for Frontera, its shareholders and partners in\n \n Colombia\n \n . This is an example of Frontera's ability to work with local partners to lay the groundwork to advance and develop material infrastructure assets for\n \n Colombia\n \n .\"\n \n \n \n \n \n Orlando Cabrales\n \n , Chief Executive Officer (CEO), Frontera, commented\n \n :\n \n \n \n \"Today, we achieved a critical milestone in advancing the Company's strategy to fully resolve the key legacy issue with the approval and completion of the conciliation agreement. I would like to express my appreciation to all those that have been involved in the process. The...

More updates from Frontera Energy Corporation