An anonymous director reports

ECOPETROL, FRONTERA ENERGY, HOCOL, TECPETROL AND CEPSA ISSUE PUBLIC STATEMENT REGARDING BLOCKADES IN META DEPARTMENT, COLOMBIA

Frontera Energy Corp., Ecopetrol, Hocol, Tecpetrol and Cepsa, hydrocarbon companies that operate in Puerto Gaitan (Meta department), are expressing their deep concern about the serious social and economic consequences resulting from the blockade of the road that leads from Puerto Gaitan to the Rubiales village, which has already lasted seven days, affecting the inhabitants of the department of Meta and the companies.

There are more than 5,332 workers in the sector and their families affected, in addition to those from other productive activities, whose rights to work and mobility are being violated, illegally preventing them from entering and leaving their work sites. The hydrocarbons industry stands in solidarity with them and with the other inhabitants of the area. Respect for the human rights of all who are part of the territory must be guaranteed.

The social and economic impacts are enormous, taking into account that the protesters are denying the provision of food and supplies, in addition to the necessary fuels for the continuous operation of the companies that are ceasing to produce more than 49,500 barrels of oil per day, to date.

Additionally, the impact on the oil operations in Meta is affecting the loading of the Cartagena and Barrancabermeja refineries, which puts at risk the supply of liquid fuels in Colombia and other countries to which the company exports.

As an industry, which is also a user of the Puerto Gaitan-Rubiales road, the companies respect the right to protest of the inhabitants of the area. However, the companies reject the illegal ways. For this reason, Frontera Energy invites the community, the departmental and local authorities, and the national government to seek joint solutions that allow the blockade to be lifted and agreements to be reached in which the well-being of the department prevails.

Frontera provides operational update on Quifa and CPE-6 blocks

Frontera has reached its on-site storage capacity at the Quifa and CPE-6 blocks. The company has temporarily shut in approximately 11,500 barrels of oil equivalent per day of net production and has pro-actively suspended all of its construction and drilling activities in the area until further notice.

Frontera's foremost priority continues to be the health and safety of its employees, contractors and the communities it operates in, with a key focus on protecting the environment. The company is actively engaged in discussions with local and national authorities, other affected oil and gas companies, trade unions and associations to resolve the situation as soon as possible.

Frontera's diverse Colombian portfolio enables the company to generate value-focused production and cash flow from across its operations, and its transportation and logistics infrastructure has lessened potential day-to-day impacts to its production.

Year to date to Jan. 31, 2023, the company has averaged approximately 42,200 boe/d (consisting of approximately 23,200 bbl/d of heavy oil, 16,800 bbl/d of light and medium crude oil, 6.5 million cubic feet per day of conventional natural gas and 1,200 bbl/d of natural gas liquids). Frontera is monitoring the continuing situation and will provide updates, as appropriate.

About Frontera Energy Corp.

Frontera Energy is a Canadian public company involved in the exploration, development, production, transportation, storage, and sale of oil and natural gas in South America, including related investments in both upstream and mid-stream facilities. The company has a diversified portfolio of assets, with interests in 32 exploration and production blocks in Colombia, Ecuador and Guyana, and pipeline and port facilities in Colombia. Frontera is committed to conducting business safely and in a socially, environmentally and ethically responsible manner.

We seek Safe Harbor.