CPT.L Regulatory News (CPT)

For immediate release

22 May 2015

Frontier Resources International Plc

("Frontier" or the "Company")

Conditional Subscription

As announced on 18 May 2015, the resolution to approve a waiver of an obligation under Rule 9 of the City Code on Takeovers and Mergers in respect of the conditional subscription ("Subscription") by AGR Energy Limited No. II ("AGR Energy") and parties acting in concert with it was duly approved by independent shareholders on a poll.

Completion of the Subscription is still subject, inter alia, to the delivery to AGR Energy of overseas opinions in agreed form on the Company's projects and these and matters related to them are currently in the process of being reviewed by and discussed with AGR Energy. Subject to the remaining conditions to completion being satisfied or waived, the Board currently expects that completion should occur at the end of next week.

On completion, the Company will issue 170,000,000 new ordinary shares to AGR Energy at the subscription price of 1p per new ordinary share ("Subscription Shares") and as previously announced, 4,944,463 new ordinary shares to Mr Keyes and 500,000 new ordinary shares to Mrs Spurrier (the "Settlement Shares").

The new ordinary shares will rank pari passu with the existing ordinary shares. Application has been made for the 175,444,463 new ordinary shares (comprising the Subscription Shares and the Settlement Shares) to be admitted to trading on AIM and, subject to the remaining conditions to completion being satisfied or waived, the Board currently expects that Admission will become effective and dealings will commence on or around 29 May 2015.

A further update will be made in due course.

Enquiries:

A copy of this announcement is available from the Company's website www.friplc.com

ENDS