TORONTO, Feb. 18, 2018
/PRNewswire/ - Frontera Energy Corporation (TSX: FEC)
("Frontera" or the "Company") announces that
Camilo McAllister, its Chief
Financial Officer, has resigned to pursue other career
opportunities. Mr. McAllister will continue in his current role
until March 9, 2018.
Frontera has retained an international placement firm to assist
in recruiting a new CFO. Alejandro Piñeros, Corporate Finance
Director, who among other duties is already responsible for the
preparation and consolidation of the Company's financial
statements, will act in the capacity of CFO until a replacement is
found.
"On behalf of the Board, I thank Camilo for
his contributions and the role he played as the Company exited
its restructuring and began a new era," said Gabriel de Alba, Chairman of the Board of
Directors. "Camillo came on board to assist us with the
initial transition period and his leadership has driven many
successes to date, including a focus on sustainable growth. On
behalf of the entire Company, I wish him well in his future
endeavours."
Continued Mr. de Alba, "We have completed the initial stage
of Frontera's transition and are now entering the next phase
in the pursuit of our key growth initiatives. We look forward to
updating shareholders about our plans in the coming weeks."
About Frontera:
Frontera is a Canadian public company and a leading explorer
and producer of crude oil and natural gas, with operations focused
in Latin America. The Company has
a diversified portfolio of assets with interests in more than 25
exploration and production blocks in Colombia and Peru. The Company's strategy is focused on
sustainable growth in production and reserves and cash generation.
Frontera is committed to conducting business safely, in a socially
and environmentally responsible manner.
The Company's common shares trade on the Toronto Stock
Exchange under the ticker symbol "FEC".
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Cautionary Note Concerning Forward-Looking
Statements:
This news release contains forward-looking statements. All
statements, other than statements of historical fact, that address
activities, events or developments that the Company believes,
expects or anticipates will or may occur in the future (including,
without limitation, statements regarding the Company's ability to
find a new CFO and its ability to successfully transition to a
growth phase) are forward-looking statements. These forward-looking
statements reflect the current expectations or beliefs of the
Company based on information currently available to the Company.
Forward-looking statements are subject to a number of risks and
uncertainties that may cause the actual results of the Company to
differ materially from those discussed in the forward-looking
statements, and even if such actual results are realized or
substantially realized, there can be no assurance that they will
have the expected consequences to, or effects on, the Company.
Factors that could cause actual results or events to differ
materially from current expectations include, among other things:
undue reliance on a search firm; uncertainty of estimates of
capital and operating costs, production estimates and estimated
economic return; uncertainties associated with estimating oil and
natural gas reserves; and the other risks disclosed under the
heading "Risk Factors" and elsewhere in the Company's annual
information form dated March 14, 2017
filed on SEDAR at www.sedar.com. Any forward-looking statement
speaks only as of the date on which it is made and, except as may
be required by applicable securities laws, the Company disclaims
any intent or obligation to update any forward-looking statement,
whether as a result of new information, future events or results or
otherwise. Although the Company believes that the assumptions
inherent in the forward-looking statements are reasonable,
forward-looking statements are not guarantees of future performance
and accordingly undue reliance should not be put on such statements
due to the inherent uncertainty therein.
SOURCE Frontera Energy Corporation