CGX Energy : Informational Presentation on Guyana-Suriname Basin, Offshore Corentyne Block and KAWA-1 Objectives October 22, 2021

INFORMATIONAL PRESENTATION ON GUYANA-SURINAME BASIN, OFFSHORE CORENTYNE BLOCK AND KAWA-1 OBJECTIVES

OCTOBER 22, 2021

Advisories

This presentation contains forward-looking statements or forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities legislation, which involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance or achievements of Frontera Energy Corporation ("Frontera") and CGX Energy Inc. ("CGX", and together with Frontera, the "Joint Venture"), or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. All statements, other than statements of historical fact that address activities, events or developments that Frontera or CGX believe, expect or anticipate will or may occur in the future (including, without limitation, statements with respect to potential discovery of resources and the potential commercial viability for production, governmental approval of the 25% relinquishment to the Government of Guyana, future targets and perspectivity, existence of additional leads in deeper targets), the Joint Venture's exploration and development plans and objectives, including its drilling plans and the timing thereof and regulatory approvals) are forward-looking statements.

These forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Joint Venture 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 Joint Venture. Factors that could cause actual results or events to differ materially from current expectations include, among other things: volatility in market prices for oil and natural gas (including as a result of demand and supply shifts caused by the sustained COVID-19 pandemic and the actions of the Organization of Petroleum Exporting Countries ("OPEC") and non-OPEC countries and the procedures imposed by governments in response thereto); the extent and duration and spread of the COVID-19 pandemic and its severity; uncertainties associated with estimating and establishing oil and natural gas reserves; liabilities inherent with the exploration, development, exploitation and reclamation of oil and natural gas; uncertainty of estimates of capital and operating costs, production estimates and estimated economic return; increases or changes to transportation costs; expectations regarding Frontera's or CGX's ability to raise capital and to continually add reserves through acquisition and development; Frontera's or CGX's ability to access additional financing; the ability of either Frontera or CGX to maintain their respective credit ratings; the ability of Frontera or CGX to meet their respective financial obligations and minimum commitments, fund capital expenditures and comply with covenants contained in the agreements that govern indebtedness; political developments in the countries where Frontera and CGX operate; the uncertainties involved in interpreting drilling results and other geological data; geological, technical, drilling and processing problems; timing on receipt of government approvals; fluctuations in foreign exchange or interest rates and stock market volatility; and the other risks disclosed under the headings "Risk Factors" and elsewhere in both: (i) Frontera's Annual Information Form dated March 3, 2021 and

1. CGX's Annual Information Form dated May 5, 2021, available 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 laws, Frontera and CGX disclaim 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 Joint Venture currently 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. Although the Joint Venture has attempted to take into account important factors that could cause actual costs or operating results to differ materially, there may be other unforeseen factors and therefore results may not be as anticipated, estimated or intended.
   The term "boe" is used in this presentation. Boe may be misleading, particularly if used in isolation. A boe conversion ratio of cubic feet to barrels is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. In this presentation, boe has been expressed using the Colombian conversion standard of 5.7 Mcf: 1 bbl required by the Colombian Ministry of Mines and Energy.
   The values in this presentation are expressed in United States dollars and all production volumes are expressed before royalties, unless otherwise stated. Some figures

presented are rounded and data in tables may not add due to rounding.	2

Presenters

Jennifer Budlong, Exploration Manager for CGX Energy

20+ years' experience in domestic and international basins worldwide including Shell, BHP, Maersk Oil and Venari Resources.

Kevin Lacy, Exploration Project Manager /Drilling Director for CGX Energy

41 years' experience with Chevron, BP, Talisman - former Global Drilling Manager with Chevron and

Talisman.

Regan Palsgrove, Head Exploration for Frontera Energy

30+ years' experience in several North and South American basins including with Talisman Energy.

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Opportunity - Overview

• Over 1.4 million gross acres in one of the hottest offshore exploration basins in the world, de-risked with extensive 3D seismic survey data, basin modelling and biostratigraphic studies
• Kawa-1exploration well successfully spudded in Aug 2021 by the Maersk Discoverer, a sixth-generationsemi-submersible; option to drill second well exercised
• Kawa-1will target three Campanian to Santonian-aged zones, analogous to major discoveries on Block 58 in Suriname immediately to the east
• Additional drill-ready prospects have been identified in the North Corentyne area and several exploration leads are being matured
• In anticipation of major discovery and future exploration, developing necessary infrastructure through Berbice Deepwater Port Project, while further strengthening strong partnerships with Guyanese government and key stakeholders

One of the most exciting exploration wells in the world and potentially transformational valuation creation catalyst for JV partners Frontera Energy and CGX Energy

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Guyana Exploration Opportunities

• Over 1.4 million gross acres in one of the hottest offshore exploration basins in the world.
• The Joint Venture acquired, processed and interpreted a new 3D seismic survey over the most prospective Northern Region of the Corentyne Block in late 2019 - early 2020
• Basin modelling and biostratigraphic studies have been completed to further de-risk the play types in the block.
• CGX, through its joint venture with Frontera, spud the Kawa-1 exploration well on the Corentyne Block on August 22, 2021. The well has a planned TD of approximately 6,500 meters and will target the Campanian-Santonian zones.

CATABACK

Guyana	Suriname
		1. There is no certainty that any portion of the resources will be
		discovered. If discovered, there is no certainty that it will be
		commercially viable to produce any portion of the resources
		2. Acreage as of Dec 31, 2020. Block acreage reflects the proposed
		25% relinquishment that has been submitted to the Government
		of Guyana. Final relinquishment details remain subject to
Source- Regional Trends Report, Guyana, Suriname and the		government approval	5
Caribbean. Trinidad. August 2021, Ernesto Diaz, Rystad Energy