CALGARY, AB, June 15, 2023 /CNW/ - Frontera Energy Corporation (TSX: FEC) ("Frontera" or the "Company") announces that it has joined the One Trillion Trees (1t.org) movement launched by the World Economic Forum in Davos, Switzerland, in January 2020, with the global goal of conserving, restoring and growing one trillion trees by 2030.
It is estimated that six trillion trees covered the planet. Now only half remain and an additional 15 billion trees are lost annually. In order to contribute to solving this problem, Frontera Energy has pledged to the 1t.org movement to preserve and restore 2,500 hectares of biological corridors in environmentally strategic areas of influence by 2027, equivalent to approximately 2.6 million trees.
Orlando Cabrales Segovia, CEO of Frontera Energy, stated: "We are dedicated to implementing actions that promote environmental sustainability, including reforestation, and contributing to a positive climate change solution. We are proud to join this global movement as environmentally conscious stewards in our operations."
"We welcome Frontera to the 1t.org community," said Nicole Schwab, Director of 1t.org and Nature-Based Solutions at World Economic Forum. "Trees and forests are a crucial part of the solution to the climate crisis and biodiversity collapse. That's why companies, civil society and governments must continue to work together for the conservation and restoration of our forests."
Frontera Energy Corporation 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 midstream facilities. The Company has a diversified portfolio of assets with interests in 31 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.
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Cautionary Note Concerning Forward-Looking Statements:
This news release contains forward-looking statements within the meaning of Canadian securities laws. All statements, other than statements of historical fact, that address activities, events or developments that Frontera believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding preserving and restoring 2,500 hectares of biological corridors are forward-looking statements). These forward-looking statements reflect the current expectations or beliefs of Frontera based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties that may cause actual results 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. The Company's annual information form dated March 1, 2023, its annual management's discussion and analysis for the year ended December 31, 2022, and other documents it files from time to time with securities regulatory authorities describe the risks, uncertainties, material assumptions and other factors that could influence actual results and such factors are incorporated herein by reference. Copies of these documents are available without charge by referring to the Company's profile 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, Frontera 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 Frontera believes that the assumptions inherent in the cautionary and forward-looking statements applicable to it 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