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FRONTERA ENERGY CORPORATION ANNOUNCE DIVESTMENT OF NON-CORE ASSETS IN ECUADOR
FRONTERA ENERGY CORPORATION ANNOUNCE DIVESTMENT OF NON-CORE ASSETS IN ECUADOR Canada Ne...
About this update from Frontera Energy Corporation
[{"type":"text","content":"\n\n\n\n FRONTERA ENERGY CORPORATION ANNOUNCE DIVESTMENT OF NON-CORE ASSETS IN ECUADOR\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 \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n Aug. 5, 2025\n \n\n /CNW/ - Frontera Energy Corporation (TSX: FEC) (\"\n \n Frontera\n \n \" or the \"\n \n Company\n \n \") announced today that the Company agreed to divest its 50% working interest in the Perico and Espejo blocks in\n \n Ecuador\n \n . All financial amounts in this news release and are in\n \n United States\n \n dollars, unless otherwise stated.\n \n\n The total cash consideration\n \n to Frontera\n \n for the blocks is\n \n $7.8 million\n \n , subject to working capital and other customary adjustments as of the effective date of\n \n January 1, 2025\n \n .\n \n\n The agreement includes an additional contingent consideration of\n \n $750,000\n \n , payable\n \n to Frontera\n \n upon the Perico block achieving cumulative gross production of two million barrels as from\n \n January 1, 2025\n \n . Closing of the transaction is subject to satisfaction of customary closing conditions, including the receipt of regulatory approvals for closing and operations takeover from the Ministry of Energy of\n \n Ecuador\n \n , and is expected to occur by the second quarter of 2026.\n \n\n These assets averaged\n \n net\n \n oil production of approximately\n \n 1\n \n ,000 boed for\n \n July 2025\n \n .\n \n\n This transaction\n \n is consistent with\n \n the Company's\n \n strategy of\n \n maximizing value over volumes,\n \n and supports\n \n\n a stronger focus on\n \n the Company\n \n higher-\n \n impact Colombian upstream operations\n \n .\n \n\n\n The Company shall continue to consider all options to enhance the value of its common shares, and in so doing may consider other strategic initiatives or transactions, including a potential future separation and other strategic transactions involving its infrastructure business.\n \n\n\n About Frontera\n \n :\n \n\n\n Frontera Energy Corporation is a Canadian public company involved in the exploration, development, p...