Frontier Resources International plc
LSE : FRGP

February 14, 2013 02:00 ET

Update on Proposed Admission to AIM

                                                                                           14 February 2013
                                                                                               GB00B3K9ML24
                                   Frontier Resources International plc
                                        ("Frontier" or the "Company")
                                                     
                                    Update on Proposed Admission to AIM
                                               ("Admission")
                                                     
Frontier  Resources International plc, the Middle East and Southern Africa focussed oil and gas exploration
company, today confirms its intention to seek admission to AIM.

On  24 May 2012, the Company's directors (the "Directors") announced Frontier's intention to move to AIM at
the  appropriate  time. The Directors now believe that the Company has made sufficient progress,  including
the  signing  of the Oman Exploration and Production Sharing Agreement (EPSA) and the disposal  of  its  US
production assets, such that the move to AIM is the logical next step for the Company.

Frontier  is seeking to raise up to USD20m (the "Placing") in connection with Admission, which is  expected
to take place in March 2013.

In  preparation  for  the  Company's  move to AIM, the Company commissioned  an  independent  oil  and  gas
geological  report in respect of the interest held by Frontier in the Oman EPSA. This report,  prepared  by
SLR  Consulting,  has been published today and the full text of the report can be found  on  the  Company's
website at http://www.friplc.com/investors.php.  The full text of Competent Persons' Reports in respect  of
the  Company's  interests  in  Namibia and Zambia are also available at http://www.friplc.com/investors.php
from today.

The  Company  intends to use the funds raised in the Placing to conduct exploration on Frontier's  projects
and provide additional working capital.

N+1  Singer is acting as broker to the Company and Beaumont Cornish is acting as nominated adviser  to  the
Company.

The Directors of Frontier are responsible for the contents of this announcement.

Enquiries:

Frontier Resources International plc
Jack Keyes, CEO
Telephone: +1 (281) 920-0061

Ric Piper, Chairman
Telephone: +44 (0) 7966 381974

Peterhouse Corporate Finance Limited (ISDX Corporate Adviser)
Duncan Vasey and Mark Anwyl
Telephone: +44 (0) 20 7220 9796

Beaumont Cornish (Nomad to the Company on proposed admission to AIM)                      
Michael Cornish                                                                           
Telephone:+44 (0) 20 7628 3396                                                            

N+1 Singer (Broker to the Company on proposed admission to AIM)                           
Jonny Franklin-Adams                                                                      
Matt Thomas                                                                               
Telephone: +44 (0) 20 7496 3000                                                           

Lionsgate (Financial PR to the Company)                                                   
Jonathan Charles                                                                          
Telephone: +44 (0) 7791 892 509



Contact Information

  • Frontier Resources International plc