SOURCE: Frontier Energy Corporation

June 25, 2008 12:48 ET

Frontier Energy Cancels Letter of Intent to Acquire Archer Texas Property

NORTH LAS VEGAS, NV--(Marketwire - June 25, 2008) - Frontier Energy Corporation ("Frontier" or the "Company") (PINKSHEETS: FRGY), after consultations with the Frontier Board of Directors and consultants, has decided to cancel the letter of intent to purchase the two leases in Archer County, Texas and the partnership with American Petroleum that was previously announced.

Frontier CEO Bob Genesi comments, "It is unfortunate that this purchase did not materialize. We want what is best for our shareholders and the Company. After discussions with our professional advisors, our Board determined that this proposed transaction was not in the Company's best long-term interests. The Company continues to have discussions with other parties to implement its business plan, which we will report on at the appropriate time."

About Frontier Energy Corp.

Frontier is an exploratory oil and gas business headquartered in Las Vegas, Nevada. Our goal is to build a solid portfolio of assets through the acquisition of leases and explore and develop the opportunities on our leases.

Except for the historical information presented, the above statements are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 or regulations thereunder. These forward-looking statements are subject to risks and uncertainties, and actual results may differ materially. These risks include the economic health of the oil and gas industry, competitive pricing pressures, completion of possible acquisitions, success at integrating and operating any acquired operations and the availability of necessary financing. These statements speak only as of above date, and Frontier disclaims any intent or obligation to update them.

Contact Information

  • Contact:
    Frontier Energy Corporation, Las Vegas
    Robert Genesi