Procuraduría General de la Nación delivers favorable opinion on conciliation agreement between Frontera, CENIT and Bicentenario

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[{"type":"text","content":"\n \n \n \n Procuraduría General de la Nación delivers favorable opinion on conciliation agreement between Frontera, 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 Completed first of two stages of the conciliation process to\n \n \n resolve outstanding transportation disputes in\n \n Colombia\n \n \n \n \n \n TORONTO\n \n ,\n \n March 24, 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 Office of the Attorney General of\n \n Colombia\n \n (Procuraduría General de la Nación) has delivered its opinion on the Conciliation Agreement between Frontera, CENIT and Bicentenario. The opinion is favorable, recommending that the conciliation be approved.\n \n \n As announced by the Company, on\n \n November 16, 2020\n \n Frontera, CENIT and Bicentenario reached an agreement for the joint filing of a petition for approval of a conciliation agreement (the \"\n \n Conciliation Agreement\n \n \") which, upon completion and approval by the competent Colombian court, will resolve all the disputes between the parties related to the Bicentenario Pipeline and the Caño Limón – Coveñas Pipeline, and will terminate all the pending arbitration proceedings related to such disputes. All the Frontera subsidiaries involved in those proceedings are also parties to the agreement, and references to Frontera include such subsidiaries. The terms of the Conciliation Agreement remain the same as previously announced.\n \n \n Delivery of the favourable opinion by the Procuraduría General de la Nación represents the first of two stages of review of the Conciliation Agreement. If the Conciliation Agreement is approved by the Administrative Tribunal of Cundinamarca, the second stage of the process...

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