Frontera Announces Normal Course Issuer Bid

Core Viewpoint - Frontera Energy Corporation has announced a normal course issuer bid (NCIB) to purchase up to 3,502,962 common shares, representing approximately 5% of its issued and outstanding shares, to enhance shareholder value [1][2][4]. Group 1: NCIB Details - The NCIB will commence on July 18, 2025, and conclude on July 17, 2026, allowing the company to buy back shares based on market conditions [2]. - As of July 15, 2025, Frontera had 70,059,243 common shares issued and outstanding [2]. - The average daily trading volume of the common shares was 48,188, limiting daily purchases to 12,047 shares, excluding block purchase exceptions [3]. Group 2: Rationale for Share Buyback - The company believes that the market price of its common shares may not reflect its underlying business value, prompting the buyback to increase the value of remaining shares [4]. - The shares repurchased will be cancelled, thereby reducing the total number of outstanding shares [6]. Group 3: Implementation of the Buyback - Frontera has established an automatic share purchase plan with BMO Nesbitt Burns Inc. to facilitate the NCIB, allowing purchases even during regulatory restrictions [5]. - Purchases will be conducted through open market transactions, with the price based on the market rate at the time of acquisition [6]. Group 4: Previous Buyback Performance - Under the previous NCIB that expired on November 20, 2024, Frontera was authorized to repurchase 3,949,454 shares and successfully bought back 1,552,100 shares at an average price of C$8.33 [8]. Group 5: Company Overview - Frontera Energy Corporation is a Canadian public company engaged in the exploration, development, production, transportation, storage, and sale of oil and natural gas in South America, with interests in 22 exploration and production blocks [9].