UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C.  20549
                           ________________________

                              AMENDMENT NO. 1 TO
                                   FORM 10-K/A
                          __________________________

(Mark One)
[X]	ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
	1934

                   For the Fiscal Year Ended DECEMBER 31, 2007

[ ]	TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT
            For the transition period from __________ to ___________
            NOTE  7  -  STOCK
                      Commission file number:  033-05384

                             FRONTIER ENERGY CORP.
            (Exact name of Registrant as specified in its charter)
                          ___________________________



           NEVADA                                  87-0443026
________________________________	_____________________________
(State or other Jurisdiction 		     (IRS Employer I.D. No.)
of Incorporation or Organization)


              2413 MOROCCO AVENUE, NORTH LAS VEGAS, NEVADA  89031
	_____________________________________________________________
             (Address of principal executive offices)  (Zip Code)

Issuer's telephone number: (780) 761-2121

Securities registered under section 12(b) of the Exchange Act:

                                     None

Securities registered under section 12(g) of the Exchange Act:

                                 Common Stock
                               (Title of class)

Check whether the issuer is not required to file reports pursuant to Section 13
or 15(d) of the Exchange Act.  						   [  ]

Check  whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d)  of the Exchange Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days.      [X]Yes    [  ]No

Check if there  is  no  disclosure of delinquent filers pursuant to Item 405 of
Regulation S-B is contained  in this form, and no disclosure will be contained,
to  the best of registrant's knowledge,  in  definitive  proxy  or  information
statements  incorporated  by  reference  in Part III of this Form 10-KSB or any
amendment to this Form 10-KSB.  					    [X]

Indicate by check mark whether the registrant is a shell company (as defined in
rule 12b-2 of the Exchange Act                                  [  ]Yes   [X]No

Revenues for the fiscal year ending December 31, 2007 were $0.

The aggregate market value of the voting stock  held by non-affiliates computed
by reference to the last reported sale price of such  stock as of April 1, 2008
$1,155,000.

The number of shares of the issuer's Common Stock outstanding  as  of  December
31, 2007 is 41,256,464

Transitional Small Business Issuer Format:                    [  ]Yes     [X]No

Indicate by check mark whether the registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act).       			      [  ]Yes     [X]No






                             FRONTIER ENERGY CORP.
                                  FORM 10-K/A

                               TABLE OF CONTENTS







PART I....................................................................  3

       ITEM 1. DESCRIPTION OF BUSINESS....................................  3
       ITEM 2. DESCRIPTION OF PROPERTY.................................... 10
       ITEM 3. LEGAL PROCEEDINGS.......................................... 10
       ITEM 4. SUBMISSIONS OF MATTERS TO A VOTE OF SECURITY HOLDERS....... 11

PART II................................................................... 11

       ITEM 5. MARKET FOR REGISTRANT'S COMMON STOCK ANDRELATED
               STOCKHOLDER MATTERS ....................................... 11
       ITEM 6. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN
	       OF OPERATION............................................... 17
       ITEM 7. FINANCIAL STATEMENTS....................................... 21
       ITEM 8. CHANGES   IN  AND  DISAGREEMENTS  WITH   ACCOUNTANTS   ON
               ACCOUNTING AND FINANCIAL DISCLOSURES....................... 22
       ITEM 8A.CONTROLS AND PROCEDURES.................................... 22
       ITEM 8A.OTHER INFORMATION.......................................... 23

PART III.................................................................. 24

       ITEM 9. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT......... 24
       ITEM 10.EXECUTIVE COMPENSATION..................................... 25
       ITEM 11.SECURITY  OWNERSHIP  OF  CERTAIN  BENEFICIAL  OWNERS  AND
               MANAGEMENT AND RELATED STOCKHOLDER MATTERS................. 26
       ITEM 12.CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS............. 27
       ITEM 13.EXHIBITS, LISTS AND REPORTS ON FORM 8-K.................... 27
       ITEM 14.PRINCIPAL ACCOUNTANT FEES AND SERVICES..................... 27

<PAGE>

FORWARD LOOKING STATEMENTS

      This report includes  "Forward-Looking  Statements" within the meaning of
Section 27A of the Securities Act and Section 21E  of  the  Securities Exchange
Act of 1934.  Any statements that express or involve discussions  with  respect
to   predictions,   expectations,   beliefs,  plans,  projections,  objectives,
assumptions or future events or performance (often, but not always, using words
or phrases such as "expects" or "does not expect", "is expected", "anticipates"
or "does not anticipate", "plans", "estimates"  or  "intends",  or stating that
certain  actions, events or results "may", "could", "should", "would",  "might"
or "will" be taken, occur or be achieved) are not statements of historical fact
and may be  considered  "forward looking statements".  We do not guarantee that
the transactions and events  described  in this Report will happen as described
or that any positive trends noted in this Report will continue.  These types of
statements  are  generally  located  in  the  section   entitled  "Management's
Discussion and Analysis or Plan of Operation," but may be  found  elsewhere  in
this  Report  as  well.   Forward-looking statements are based on expectations,
estimates and projections at  the  time  the statements are made that involve a
number of risks and uncertainties which could cause actual results or events to
differ materially from those presently anticipated.   Although  we believe that
the  expectations reflected in such forward-looking statements are  reasonable,
we can  give  no  assurance  that  such  expectations  will  prove to have been
correct.   You  should understand that many important factors, in  addition  to
those discussed elsewhere  in  this  Report,  could cause our results to differ
materially  from  those  expressed  in the forward-looking  statements.   These
factors include, without limitation,  the  timing  and  extent  of  changes  in
commodity  prices  for  crude  oil,  natural  gas and related products, foreign
currency exchange rates, and interest rates; the timing and impact of liquefied
natural gas imports; the extent and effect of any hedging activities engaged in
by  Frontier Energy Corp.; the extent of Frontier  Energy  Corp.'s  success  in
discovering,  developing, marketing and producing reserves and in acquiring oil
and gas properties;  the  accuracy  of reserve estimates, which by their nature
involve the exercise of professional  judgment  and may therefore be imprecise;
the  availability  and  cost  of  drilling  rigs, experienced  drilling  crews,
materials  and  equipment  used in well completions,  and  tubular  steel;  the
availability, terms and timing  of governmental and other permits and rights of
way;   the  availability  of  pipeline   transportation   capacity;   political
developments around the world; acts of war and terrorism and responses to these
acts; weather;  and  financial  market  conditions.  In  light  of these risks,
uncertainties  and  assumptions,  the  events  anticipated  by Frontier  Energy
Corp.'s forward-looking statements might not occur. You should  not place undue
reliance on these forward-looking statements, which speak only as  of  the date
of  this  Report. Unless legally required, we undertake no obligation to update
publicly  any   forward-looking   statements,   whether  as  a  result  of  new
information, future events or otherwise.

      For further information about these and other  risks,  uncertainties  and
factors, please review the disclosure included in this report under the caption
"Risk Factors."




<PAGE> 2



PART I

THIS  ANNUAL  REPORT  ON FORM 10-K IS BEING AMENDED TO RESPOND TO THOSE CERTAIN
COMMENTS IN THE CORRESPONDENCE  DATED  MAY  1,  2008  FROM  THE  SECURITIES AND
EXCHANGE  COMMISSION  AND FURTHER TO PROVIDE RESTATED FINANCIAL STATEMENTS  FOR
FISCAL YEAR ENDED DECEMBER  31,  2007. THE FINANCIAL STATEMENTS WERE AMENDED TO
CORRECT VARIOUS ACCOUNTING ERRORS, INCLUDING THE CONSOLIDATED BALANCE SHEET FOR
FISCAL YEAR ENDED DECEMBER 31, 2007 REGARDING CASH, PREPAID STOCK COMPENSATION,
ACCOUNTS PAYABLE AND ACCRUED EXPENSES,  LOANS  PAYABLE  AND  ADDITIONAL PAID-IN
CAPITAL.  THE  FINANCIAL  STATEMENTS  WERE  FURTHER AMENDED TO CORRECT  VARIOUS
ACCOUNTING ERRORS, INCLUDING THE STATEMENTS OF OPERATIONS FOR FISCAL YEAR ENDED
DECEMBER  31,  2007  REGARDING  OFFICER  COMPENSATION   EXPENSE,   GENERAL  AND
ADMINISTRATIVE EXPENSE AND EXPLORATION AND DEVELOPMENT EXPENSE.

ITEM 1.DESCRIPTION OF BUSINESS

OVERVIEW

      Frontier Energy Corp. is an oil and natural gas exploration company  that
has recently purchased a lease on an oil and gas property in the United States.
We  intend to develop this property as our limited capital resources will allow
and to purchase additional oil and gas leases.

INDUSTRY BACKGROUND

      The  United States currently depends on natural gas for approximately 23%
of its total primary energy requirements. But with its commitment to the use of
natural gas,  particularly in the electricity sector, the U.S. now finds itself
with a supply shortage at a time of increased demand.

      The demand for natural gas is further influenced by the crude oil market.
Although crude  oil  and natural gas are two separate commodities, their prices
have historically been  correlated  at  irregular intervals.  Strong oil prices
generally keep natural gas prices elevated  because  fuel  oil  is  a  possible
substitute  for  natural  gas.  As  the  price  of  crude  oil  increases, some
industries switch to natural gas.  This is particularly true in the electricity
sector.

      Presently, the United States relies on three sources for its natural gas.
Domestic  production  accounts for 81% of supply.  Imports from Canada,  mainly
the western provinces of  Alberta, British Columbia and Saskatchewan provide an
additional 17%.  Imports of liquefied natural gas make up the remainder.

      Despite rising new natural  gas well completions, high drilling rates are
expected to only modestly improve U.S.  production  levels to 24.1 Tcf by 2025.
Many of the wells that have produced abundant quantities  of  natural gas since
the  1980s  and  1990s  are  in  terminal decline, yielding rapidly diminishing
returns.  These waning reserves have  not  become  readily apparent because the
natural gas industry has been bringing new fields online in a frantic effort to
keep production levels from dropping too rapidly.  Since  nearly  half  of  the
U.S. natural gas supply is coming from wells that have been drilled in the past
five years, this declining trend is likely to continue.

COMPETITION

      The  strength of commodity prices has resulted in significantly increased
operating cash flows and has led to increased drilling activity.  This industry
activity has  increased  competition  for undeveloped lands; skilled personnel;
access  to  drilling rigs, service rigs and  other  equipment;  and  access  to
processing and  gathering  facilities,  all  of  which  may  cause drilling and
operating costs to increase.  Some of our competitors are larger  than  us  and
have  substantially  greater  financial  and marketing resources.  In addition,
some  of  our  competitors may be able to secure  products  and  services  from
vendors on more  favorable  terms, offer a greater product selection, and adopt
more aggressive pricing policies than we can.

      Some of the larger and  well  capitalized  companies  that  are  actively
exploring  and  producing  in  our area include, but not limited to, BP, Conoco
Phillips, Gibraltar Exploration  Ltd,  Mosaic  Energy Ltd., Northrock Resources
Ltd., and Temple Energy Inc. Each of these companies  has  significant existing
cash  flow,  capital  budgets  and  in-house  expertise  to  continue   seeking
additional oil and gas reserves in the western United States.

<PAGE> 3

GOVERNMENTAL REGULATIONS

      The  oil  and  natural  gas  industry  in the United States is subject to
extensive controls and regulations imposed by various levels of government.  We
do  not  expect  that  any  of these controls or regulations  will  affect  our
operations in a manner materially  different  than  they would affect other oil
and gas industry participants of similar size.

      Crude oil and natural gas located in the western  United  States is owned
both  by  private  landowners and the federal government.  Land owners  or  the
Bureau of Land Management  grant  rights  to  explore  for  and produce oil and
natural  gas  under  leases, licenses and permits with terms generally  varying
from two years to five  years  and  on  conditions  contained  in  legislation.
Leases,  licenses and permits may be continued indefinitely by producing  under
the lease,  license  or permit.  Some of the oil and natural gas located in the
western United States  is privately owned and rights to explore for and produce
oil and natural gas are  granted  by the mineral owners on negotiated terms and
conditions.

ENVIRONMENTAL REGULATIONS

      The oil and natural gas industry  is governed by environmental regulation
under  federal  and  state  laws,  rules and regulations,  which  restrict  and
prohibit the release or emission and regulate the storage and transportation of
various substances, produced or utilized  in  association  with oil and natural
gas  industry operations.  In addition, applicable environmental  laws  require
that well  and  facility sites are abandoned and reclaimed, to the satisfaction
of state authorities,  in  order  to  remediate  these  sites  to  near natural
conditions.   Also,  environmental  laws  may impose upon "responsible persons"
remediation  obligations  on  property  designated   as  a  contaminated  site.
Responsible persons include persons responsible for the  substance  causing the
contamination, persons who caused the release of the substance and any  present
or  past  owner,  tenant or other person in possession of the site.  Compliance
with such legislation  can  require  significant  expenditures.   A  breach  of
environmental  laws  may  result  in  the imposition of fines and penalties and
suspension  of  production,  in  addition  to  the  costs  of  abandonment  and
reclamation.

      We  have  established  guidelines  and  management   systems   to  ensure
compliance  with environmental laws, rules and regulations.  We have designated
an individual  responsible  for  compliance  whose responsibility is to monitor
regulatory  requirements  and  their  impact on us,  to  implement  appropriate
compliance  procedures  and  to cause our  operations  to  be  carried  out  in
accordance with applicable environmental  guidelines  and implementing adequate
safety precautions.  The existence of these controls cannot, however, guarantee
total  compliance with environmental laws, rules and regulations.   We  believe
that we  are  in  material  compliance  with  applicable environmental laws and
regulations.  We also believe that it is reasonably  likely  that  the trend in
environmental   legislation   and  regulation  will  continue  toward  stricter
standards.

PAST ACTIVITIES OF OUR COMPANY

      Up until November 2003, we  were  engaged in the sale, repair and support
service of in-warranty and out-of-warranty  computer  peripheral  devices for a
variety  of  large and small brand name manufacturers through our wholly  owned
subsidiary, Technical  Services  &  Logistics  Inc.  ("TSLi").  On November 17,
2003,  our  Board of Directors voted unanimously to liquidate  TSLi  through  a
General Assignment benefiting the creditors of TSLi.  On November 26, 2003, the
Company consummated  a  General  Assignment  Agreement  ("the  agreement") that
assign  all   the   assets  and liabilities of TSLi to the C.F. Boham  Company,
Inc., d.b.a. the  Hamer  Group, of Los Angeles, California.  The assignment was
essentially a liquidation of  TSLi  that  was  overseen by the Hamer Group, who
acted as trustee of TSLi's affairs during the liquidation process.

<PAGE> 4

      The decision to liquidate TSLi provided our  Board  of Directors with the
opportunity  to  restructure  our debts so that we could continue  as  a  going
concern.  On January 22, 2005,  we  acquired  a 100% interest in a copper, gold
and platinum mineral prospect (the "Property").  The  Property  consists  of 20
claim units in central British Columbia, Canada approximately 45 miles east  of
Williams  Lake.  The  Property  is  located  in  the central Quesnel Trough and
adjoins the south border of Imperial Metals', Mount  Polley  copper/gold  mine.
Our  business  plan became to explore and develop the potential minerals on the
Property.  In October  2005,  the  Board  of  Directors, based on the estimated
costs and related benefits to be received from the mineral prospect at Williams
Lake, determined it to be in our best interest  to begin exploration of oil and
natural gas properties in the Alberta region of Canada.

EMPLOYEES

      As  of March 15, 2008, we had 1 employee, our  Chief  Executive  Officer.
Our employee  is  not  covered  by  a  collective  bargaining agreement and our
management considers relations with our employee to be good.




                                 RISK FACTORS

RISKS SPECIFIC TO OUR COMPANY

WE HAVE A HISTORY OF LOSSES WHICH MAY CONTINUE, WHICH MAY NEGATIVELY IMPACT OUR
ABILITY TO ACHIEVE OUR BUSINESS OBJECTIVES.

      We incurred net losses of approximately $2,164,953  and  $911,386 for the
years  ended  December 31, 2007 and 2006, respectively.  We cannot  assure  you
that we can achieve  or sustain profitability on a quarterly or annual basis in
the future. Our operations are subject to the risks and competition inherent in
the establishment of a  business  enterprise.   There  can be no assurance that
future  operations  will  be  profitable.   We  may  not achieve  our  business
objectives and the failure to achieve such goals would  have  an adverse impact
on us.

IF WE ARE UNABLE TO OBTAIN ADDITIONAL FUNDING OUR BUSINESS OPERATIONS  WILL  BE
HARMED  AND IF WE DO OBTAIN ADDITIONAL FINANCING OUR THEN EXISTING SHAREHOLDERS
MAY SUFFER SUBSTANTIAL DILUTION.

      We  will  require  additional funds to sustain and expand our oil and gas
exploration activities.  We  anticipate  that  we  will  require  approximately
$1,000,000  to  fund  our  continued  operations  for  the  fiscal  year  2008.
Additional  capital  will be required to effectively support the operations and
to  otherwise implement  our  overall  business  strategy.   There  can  be  no
assurance that financing will be available in amounts or on terms acceptable to
us, if  at  all.  The  inability to obtain additional capital will restrict our
ability to grow and may  reduce  our  ability  to  continue to conduct business
operations.  If we are unable to obtain additional financing, we will likely be
required to curtail our marketing and exploration plans  and possibly cease our
operations.   Any additional equity financing may involve substantial  dilution
to our then existing shareholders.

OUR INDEPENDENT  AUDITORS HAVE EXPRESSED SUBSTANTIAL DOUBT ABOUT OUR ABILITY TO
CONTINUE AS A GOING  CONCERN,  WHICH  MAY  HINDER  OUR ABILITY TO OBTAIN FUTURE
FINANCING.

      In  their  report dated April 14, 2008, our independent  auditors  stated
that our financial  statements  for  the  year  ended  December  31,  2007 were
prepared  assuming  that we would continue as a going concern.  Our ability  to
continue as a going concern  is an issue raised as a result of recurring losses
from operations and working capital  deficiency.  We continue to experience net
operating losses.  Our ability to continue as a going concern is subject to our
ability to obtain necessary funding from  outside  sources, including obtaining
additional  funding  from  the sale of our securities and  loans  from  certain
stockholders.  Our continued  net  operating  loss  increases the difficulty in
meeting such goals and there can be no assurances that  such methods will prove
successful.

WE HAVE A LIMITED OPERATING HISTORY AND IF WE ARE NOT SUCCESSFUL  IN CONTINUING
TO GROW OUR BUSINESS, THEN WE MAY HAVE TO SCALE BACK OR EVEN CEASE  OUR ONGOING
BUSINESS OPERATIONS.

      We  have no history of revenues from oil and gas operations and  have  no
significant  tangible  assets.   We  own a mineral lease valued at $10,905.  We
have yet to generate positive earnings  and  there  can be no assurance that we
will ever operate profitably.  Our company has a limited  operating history and
must  be  considered  in  the development stage.  Our success is  significantly
dependent  on a successful acquisition,  drilling,  completion  and  production
program.  Our  operations  will  be  subject  to  all the risks inherent in the
establishment of a developing enterprise and the uncertainties arising from the
absence  of  a  significant  operating history.  We may  be  unable  to  locate
recoverable  reserves  or operate  on  a  profitable  basis.   We  are  in  the
development stage and potential  investors  should be aware of the difficulties
normally encountered by enterprises in the development  stage.  If our business
plan  is  not successful, and we are not able to operate profitably,  investors
may lose some or all of their investment in our company.

<PAGE> 5


OUR INTERESTS  IN  THE  PRODUCTION SHARING CONTRACTS INVOLVE HIGHLY SPECULATIVE
EXPLORATION  OPPORTUNITIES   THAT  INVOLVE  MATERIAL  RISKS  THAT  WE  WILL  BE
UNSUCCESSFUL

      Our working interests that comprise our portfolio should be considered to
be highly speculative exploration  opportunities  that  will  involve  material
risks.   None  of  the working interests in which we have an interest have  any
proven reserves and  are  not  producing  any quantities of oil or natural gas.
Exploratory drilling activities are subject  to  many risks, including the risk
that no commercially productive reservoirs will be  encountered.   There can be
no assurance that wells drilled in any of our land portfolio in which  we  have
an interest or by any venture in which we may acquire an interest in the future
will  be  productive  or  that we will receive any return or recover all or any
portion of our investment.   Drilling  for oil and gas may involve unprofitable
efforts, not only from dry wells, but from wells that are productive but do not
produce sufficient net revenues to return  a  profit  after drilling, operating
and other costs.  The cost of drilling, completing and operating wells is often
uncertain.   Drilling operations may be curtailed, delayed  or  canceled  as  a
result of numerous  factors,  many  of which are beyond the operator's control,
including economic conditions, mechanical  problems,  title  problems,  weather
conditions,  compliance  with governmental requirements and shortages or delays
of equipment and services.   Drilling  activities  on  land in which we hold an
interest may not be successful and, if unsuccessful, such  failure  may  have a
material  adverse  effect  on  our  future  results of operations and financial
condition.

IF  WE  ARE  UNABLE  TO  SUCCESSFULLY RECRUIT QUALIFIED  MANAGERIAL  AND  FIELD
PERSONNEL HAVING EXPERIENCE  IN  OIL AND GAS EXPLORATION, WE MAY NOT BE ABLE TO
CONTINUE OUR OPERATIONS.

      In  order  to  successfully  implement   and   manage  our  business  and
acquisition plans, we will be dependent upon, among other  things, successfully
recruiting  qualified managerial and field personnel having experience  in  the
oil and gas exploration  business.   Competition  for  qualified individuals is
intense.  There can be no assurance that we will be able  to  find, attract and
retain existing employees or that we will be able to find, attract  and  retain
qualified personnel on acceptable terms.

AS OUR PROPERTIES ARE IN THE EXPLORATION AND DEVELOPMENT STAGE, THERE CAN BE NO
ASSURANCE THAT WE WILL ESTABLISH COMMERCIAL DISCOVERIES ON OUR PROPERTIES.

      Exploration  for  economic reserves of oil and gas is subject to a number
of risk factors.  Few properties  that  are  explored  are ultimately developed
into producing oil and/or gas wells.  Our properties are in the exploration and
development stage only and are without proven reserves of  oil and gas.  We may
not establish commercial discoveries on any of our properties.

THE POTENTIAL PROFITABILITY OF OIL AND GAS VENTURES DEPENDS UPON FACTORS BEYOND
THE CONTROL OF OUR COMPANY.

       The potential profitability of oil and gas properties  is dependent upon
many  factors beyond our control.  For instance, world prices and  markets  for
oil  and  gas  are  unpredictable,  highly  volatile,  potentially  subject  to
governmental  fixing,  pegging, controls, or any combination of these and other
factors, and respond to  changes  in domestic, international, political, social
and   economic  environments.   Additionally,   due   to   worldwide   economic
uncertainty,  the  availability  and  cost  of  funds  for production and other
expenses have become increasingly difficult, if not impossible, to project.  In
addition,  adverse  weather  conditions  can  also hinder drilling  operations.
These  changes  and  events may materially affect  our  financial  performance.
These factors cannot be  accurately  predicted  and  the  combination  of these
factors  may result in our company not receiving an adequate return on invested
capital.

<PAGE> 6

EVEN IF WE  ARE  ABLE  TO  DISCOVER  AND  GENERATE  A GAS WELL, THERE CAN BE NO
ASSURANCE THE WELL WILL BECOME PROFITABLE.

      We have not yet made a discovery of gas or drilled  a gas well to capture
any  gas.  Even if we are able to, a productive well may become  uneconomic  in
the event water or other deleterious substances are encountered which impair or
prevent  the  production  of  oil  and/or  gas  from  the  well.   In addition,
production from any well may be unmarketable if it is impregnated with water or
other  deleterious substances.  In addition, the marketability of oil  and  gas
which may  be  acquired  or  discovered  will  be affected by numerous factors,
including the proximity and capacity of oil and  gas  pipelines  and processing
equipment,  market  fluctuations  of  prices,  taxes,  royalties,  land tenure,
allowable production and environmental protection, all of which could result in
greater expenses than revenue generated by the well.

COMPETITION IN THE OIL AND GAS INDUSTRY IS HIGHLY COMPETITIVE AND THERE  IS  NO
ASSURANCE THAT WE WILL BE SUCCESSFUL IN ACQUIRING THE LEASES.

      The  oil  and  gas  industry  is  intensely competitive.  We compete with
numerous individuals and companies, including many major oil and gas companies,
which have substantially greater technical, financial and operational resources
and staffs.  Accordingly, there is a high  degree  of competition for desirable
oil and gas leases, suitable properties for drilling  operations  and necessary
drilling equipment, as well as for access to funds.  We cannot predict  if  the
necessary  funds  can  be  raised or that any projected work will be completed.
Our budget anticipates our acquisition  of  additional  land  the Alberta area.
This acreage may not become available or if it is available for  leasing,  that
we may not be successful in acquiring the leases.

RISKS SPECIFIC TO OUR INDUSTRY

THE  MARKETABILITY  OF  NATURAL  RESOURCES WILL BE AFFECTED BY NUMEROUS FACTORS
BEYOND OUR CONTROL WHICH MAY RESULT  IN  US NOT RECEIVING AN ADEQUATE RETURN ON
INVESTED CAPITAL TO BE PROFITABLE OR VIABLE.

      The  marketability  of  natural  resources   which  may  be  acquired  or
discovered  by  us  will be affected by numerous factors  beyond  our  control.
These factors include  market  fluctuations  in oil and gas pricing and demand,
the  proximity  and  capacity  of  natural  resource   markets  and  processing
equipment,   governmental  regulations,  land  tenure,  land  use,   regulation
concerning the  importing  and  exporting  of  oil  and  gas  and environmental
protection regulations.  The exact effect of these factors cannot be accurately
predicted, but the combination of these factors may result in us  not receiving
an adequate return on invested capital to be profitable or viable.

OIL AND GAS OPERATIONS ARE SUBJECT TO COMPREHENSIVE REGULATION WHICH  MAY CAUSE
SUBSTANTIAL  DELAYS  OR  REQUIRE CAPITAL OUTLAYS IN EXCESS OF THOSE ANTICIPATED
CAUSING AN ADVERSE EFFECT ON OUR COMPANY.

      Oil and gas operations  are  subject  to  federal,  state  and local laws
relating  to  the  protection  of  the  environment,  including laws regulating
removal  of  natural resources from the ground and the discharge  of  materials
into the environment.   Oil  and  gas  operations  are also subject to federal,
state, and local laws and regulations which seek to  maintain health and safety
standards by regulating the design and use of drilling  methods  and equipment.
Various permits from government bodies are required for drilling operations  to
be  conducted;  no  assurance  can be given that such permits will be received.
Environmental standards imposed  by  federal, state or local authorities may be
changed  and  any  such  changes  may have  material  adverse  effects  on  our
activities.  Moreover, compliance with  such  laws may cause substantial delays
or  require  capital outlays in excess of those anticipated,  thus  causing  an
adverse effect  on  us.   Additionally,  we  may  be  subject  to liability for
pollution or other environmental damages.  To date we have not been required to
spend  any  material  amount  on  compliance  with  environmental  regulations.
However, we may be required to do so in future and this may affect our  ability
to expand or maintain our operations.

<PAGE> 7

EXPLORATION  AND  PRODUCTION  ACTIVITIES  ARE  SUBJECT TO CERTAIN ENVIRONMENTAL
REGULATIONS WHICH MAY PREVENT OR DELAY THE COMMENCEMENT  OR  CONTINUANCE OF OUR
OPERATIONS.

      In  general,  our  exploration and production activities are  subject  to
certain federal, state and local laws and regulations relating to environmental
quality and pollution control.  Such laws and regulations increase the costs of
these activities and may prevent  or delay the commencement or continuance of a
given operation.  Compliance with these  laws  and  regulations  has  not had a
material   effect   on   our   operations   or  financial  condition  to  date.
Specifically,  we  are  subject  to legislation regarding  emissions  into  the
environment, water discharges and  storage and disposition of hazardous wastes.
In addition, legislation has been enacted  which  requires  well  and  facility
sites  to  be abandoned and reclaimed to the satisfaction of state authorities.
However, such  laws and regulations are frequently changed and we are unable to
predict the ultimate cost of compliance.  Generally, environmental requirements
do not appear to  affect  us any differently or to any greater or lesser extent
than other companies in the  industry.   We believe that our operations comply,
in all material respects, with all applicable  environmental  regulations.  Our
operating  partners  maintain  insurance  coverage  customary to the  industry;
however, we are not fully insured against all possible environmental risks.

EXPLORATORY DRILLING INVOLVES MANY RISKS AND WE MAY BECOME LIABLE FOR POLLUTION
OR  OTHER  LIABILITIES  WHICH  MAY  HAVE  AN ADVERSE EFFECT  ON  OUR  FINANCIAL
POSITION.

      Drilling operations generally involve  a  high  degree  of risk.  Hazards
such  as  unusual  or  unexpected  geological formations, power outages,  labor
disruptions, blow-outs, sour gas leakage, fire, inability to obtain suitable or
adequate machinery, equipment or labor,  and  other risks are involved.  We may
become subject to liability for pollution or hazards  against  which  it cannot
adequately  insure  or  which  it  may elect not to insure.  Incurring any such
liability may have a material adverse  effect  on  our  financial  position and
results from operations.

THE EXPLORATION FOR AND DEVELOPMENT OF OIL AND NATURAL GAS RESERVES  DEPENDS ON
ACCESS TO AREAS WHERE OPERATIONS ARE TO BE CONDUCTED.

      Seasonal  weather  variations,  including  freeze-up  and break-up affect
access in certain circumstances.  Natural gas is used principally  as a heating
fuel  and  for  power generation.  Accordingly, seasonal variations in  weather
patterns  affect  the   demand   for  natural  gas.   Depending  on  prevailing
conditions, the prices received for  sales  of natural gas are generally higher
in winter than summer months, while prices are  generally higher in summer than
spring  and  fall  months.  A decrease in natural gas  or  oil  prices  due  to
seasonal variations  may  have  a  material  adverse effect on our results from
operations.

RISKS RELATED TO OUR SECURITIES

OUR COMMON STOCK IS SUBJECT TO THE "PENNY STOCK"  RULES  OF  THE  SEC  AND  THE
TRADING  MARKET  IN  OUR SECURITIES IS LIMITED, WHICH MAKES TRANSACTIONS IN OUR
STOCK CUMBERSOME AND MAY REDUCE THE VALUE OF AN INVESTMENT IN OUR STOCK.

      The Securities and  Exchange  Commission  has  adopted  Rule  15g-9 which
establishes the definition of a "penny stock," for the purposes relevant to us,
as any equity security that has a market price of less than $5.00 per  share or
with  an  exercise  price  of  less  than  $5.00  per share, subject to certain
exceptions.  For any transaction involving a penny  stock,  unless  exempt, the
rules require:

         *  that  a  broker  or  dealer  approve  a  person's  account for
            transactions in penny stocks; and
         *  the  broker  or  dealer  receives  from the investor a written
            agreement  to  the  transaction,  setting forth  the  identity  and
            quantity of the penny stock to be purchased.

<PAGE> 8

      In order to approve a person's account for  transactions in penny stocks,
the broker or dealer must:

         *  obtain   financial   information  and  investment   experience
            objectives of the person; and
         *  make a reasonable determination that the transactions in penny
            stocks are suitable for that  person  and the person has sufficient
            knowledge  and experience in financial matters  to  be  capable  of
            evaluating the risks of transactions in penny stocks.

      The broker or dealer  must  also  deliver,  prior to any transaction in a
penny stock, a disclosure schedule prescribed by the Commission relating to the
penny stock market, which, in highlight form:

         *  sets forth the basis on which the  broker  or  dealer made the
            suitability determination; and
         *  that the broker or dealer received a signed, written agreement
            from the investor prior to the transaction.

      Generally,  brokers  may  be  less  willing  to  execute transactions  in
securities subject to the "penny stock" rules.  This may make it more difficult
for investors to dispose of our common stock and cause a  decline in the market
value of our stock.

      Disclosure  also  has  to be made about the risks of investing  in  penny
stocks  in  both public offerings  and  in  secondary  trading  and  about  the
commissions  payable   to   both   the   broker-dealer   and   the   registered
representative,  current  quotations  for  the  securities  and  the rights and
remedies   available   to  an  investor  in  cases  of  fraud  in  penny  stock
transactions.  Finally,  monthly  statements  have to be sent disclosing recent
price information for the penny stock held in the  account  and  information on
the limited market in penny stocks.

FUTURE SALES OF SHARES MAY ADVERSELY IMPACT THE VALUE OF OUR STOCK.

      We will seek to raise additional capital through the sale of  our  common
stock.   Future  sales  of our common stock could cause the market price of our
common stock to decline.

IF A MARKET WERE TO DEVELOP  FOR  OUR  SHARES,  THE  SHARE PRICES MAY BE HIGHLY
VOLATILE.

      The  market  prices  of  equity  securities  of  small   companies   have
experienced extreme price volatility in recent years not necessarily related to
the   individual   performance   of   specific   companies.   Factors  such  as
announcements  by  us,  or  our  competitors concerning  products,  technology,
governmental  regulatory  actions, other  events  affecting  tanning  companies
generally and general market  conditions  may  have a significant impact on the
market price of our shares and could cause it to fluctuate substantially.

POSSIBLE ISSUANCE OF ADDITIONAL SHARES MAY IMPACT THE PRICE OF OUR STOCK SHOULD
A PUBLIC TRADING MARKET EVER DEVELOP.

      Our Certificate of Incorporation authorizes  the  issuance of 100,000,000
shares of common stock.  Our Board of Directors has the power  to  issue any or
all  of  such  additional common stock without stockholder approval.  Investors
should be aware  that  any  stock  issuances might result in a reduction of the
book value or market price, if any,  of  the then outstanding common stock.  If
we  were  to  issue  additional  common  stock,   such   issuance  will  reduce
proportionate ownership and voting power of the other stockholders.   Also, any
new issuance of common stock may result in a change of control.

HISTORICAL  DEFICIENCIES  IN THE EFFECTIVENESS  OF OUR DISCLOSURE CONTROLS  AND
PROCEDURES MAY POSE A MATERIAL RISK TO INVESTORS.

      The Company has restated its Balance Sheets at fiscal year ended December
31, 2007 and its Statements  of Operations, Statements of Stockholders' Deficit
and Statement of Cash Flows as  of  and for fiscal year ended December 31, 2007
to  correct certain accounting errors.  This  change  in  presentation  of  its
financial  statements  affected some of the items within its balance sheets and
statements of cash flows for fiscal year ended December 31, 2007.

<PAGE> 9

      As  a result of the  restatement  of  our  Balance  Sheet,  Statement  of
Operations  and  Statement  of  Stockholders' Deficit and the Statement of Cash
Flows, the Company's management determined  that  there  had been a significant
deficiency in its internal control over financial reporting  as of December 31,
2007 related to the presentation of certain line items. Although  the Company's
management  believes  that  the  Company  has  corrected  its presentation  and
recording  of  these  line  items  in  its  Balance  Sheets,  its Statement  of
Operations  and  its  Statement  of  Stockholders'  Equity,  the  Company   has
determined  that  such  significant  deficiency did give rise to the level of a
material weakness in its internal control  over financial reporting. Therefore,
a material risk to investors may exist due to the fact that recent changes have
been made to its disclosure controls and procedures to address such significant
deficiencies.

      The Company has implemented additional measures as part of changes to our
internal  controls  to determine and ensure that  information  required  to  be
disclosed in reports  filed  under  the  Exchange  Act was recorded, processed,
summarized  and reported within the time periods specified  in  the  rules  and
forms including,  but  not  limited  to,  the  following:  (i) documentation of
processes, performing testing and reviewing our internal control over financial
reporting in  connection with our assessment under Section 404 of the Sarbanes-
Oxley Act; (ii) evaluation and implementation of improvements to our accounting
and management information systems; and (iii) development and implementation of
a  remediation  plan  to address any perceived deficiencies identified  in  its
internal  control over financial  reporting.  The  costs  of  these  additional
measures did  not  have  a  material  impact on the Company's future results or
operations liquidity.

      The Company's management, including its Chief Executive Officer and Chief
Financial Officer, do not expect that the  Company's  disclosure  controls  and
internal  controls  will prevent all errors and all fraud. A control system, no
matter how well conceived  and  operated,  can  provide  only  reasonable,  not
absolute,  assurance  that  the  objectives  of the control system are met. The
Company's disclosure controls and procedures are designed to provide reasonable
assurance of achieving its objectives and certifying  officers  have  concluded
that  its  disclosure  controls  and  procedures  are currently effective at  a
reasonable assurance level. See Item 8. Internal Controls and Procedures."

ITEM 2.DESCRIPTION OF PROPERTY

      We do not own or lease any real property for  corporate  office purposes.
An  office  is  maintained for the Company at the present time at 2413  Morocco
Avenue,  North Las  Vegas,  Nevada  89031.   This  office  is  provided  as  an
accommodation to the Company by the president of the Company.

OIL AND GAS PROPERTIES

      The  following  is  a  brief description of the oil and gas properties in
which Frontier held an interest  as of December 31, 2007.  In 2006, the Company
leased for a ten year lease term at  auctions the oil and gas rights on one 640
acre section from the United States Bureau of Land Management.  The property is
located in the state of Montana.

Exploratory and Development Wells Drilled

      Frontier did not participate in the drilling of any wells during the last
three fiscal years.

Miscellaneous

Frontier is not obligated to provide quantities  of  oil  or  gas in the future
under  existing  contracts or agreements.  Frontier has not filed  any  reports
containing  oil  or   gas   reserve  estimates  with  any  federal  or  foreign
governmental authority or agency within the past 12 months.

ITEM 3.LEGAL PROCEEDINGS

      We are not a party to any  pending legal proceeding or litigation, except
as described in the following paragraph.   In addition, none of our property is
the subject of a pending legal proceeding.   We  are  not  aware  of  any legal
proceedings   against   the   Company  or  our  property  contemplated  by  any
governmental authority.

      In 2006, the Company was  sued  by  a former consultant.  The Company has
settled this matter.

<PAGE> 10

ITEM 4.SUBMISSIONS OF MATTERS TO A VOTE OF SECURITY HOLDERS

      No matters were submitted to a vote of  security  holders during the last
quarter of the fiscal year ended December 31, 2007.

                                    PART II

ITEM 5.  MARKET FOR REGISTRANT'S COMMON STOCK AND RELATED STOCKHOLDER MATTERS

      Our  common  stock  is  quoted on the "Pink sheets" electronic  over-the-
counter quotation system under the symbol "FRGY".

      For the periods indicated,  the  following  table sets forth the high and
low  per  share closing prices for our common stock.   These  prices  represent
inter-dealer  quotations  without retail markup, markdown or commission and may
not necessarily represent actual transactions.

2006          		HIGH 	LOW
_____________		____	____
First Quarter 		1.50	1.02
Second Quarter		1.30	0.55
Third Quarter 		1.10	0.51
Fourth Quarter		0.65	0.15

2007
_____________
First Quarter 		0.60	0.14
Second Quarter		0.18	0.02
Third Quarter 		0.03	0.004
Fourth Quarter		0.02	0.002

HOLDERS

      As of April 1, 2008,  we  had  approximately  704  holders  of our common
stock.  The number of record holders includes beneficial owners of common stock
whose  shares  are held in the names of various security brokers, dealers,  and
registered clearing  agencies.   The  transfer  agent  of  our  common stock is
Standard  Registrar and Transfer Company, Inc., 12528 South 1840 East,  Draper,
Utah 84020.

      On October 4, 2005, the Company declared a stock dividend of one share of
common stock  for  each  forty shares of common stock outstanding.  On December
14, 2004, the Company declared  a  stock  dividend of one share of common stock
for each ten shares of common stock outstanding.  We have not declared any cash
dividends since inception, and have no present  intention  of  paying  any cash
dividends  on  our shares in the foreseeable future.  The payment of dividends,
if any, in the future,  rests  within  the discretion of our Board of Directors
and  will  depend,  among  other  things,  upon   our   earnings,  our  capital
requirements and our financial condition, as well as other relevant factors.

RECENT SALES OF UNREGISTERED SECURITIES

      During  fiscal  year  ended  December 31, 2007, to provide  capital,  the
Company sold stock in private placement offerings, issued stock in exchange for
its debts or pursuant to contractual  agreements including, but not limited to,
those as set forth below.

<PAGE> 11

     (i)  During  fiscal  year  ended  December 31, 2007, the Company issued an
aggregate of 35,970,000 shares of its common  stock  to  certain  approximately
thirty-three consultants in exchange for consulting services. Shares  of common
stock  were  issued to approximately thirteen non-United States consultants  in
reliance on Regulation  S  promulgated  under  the Securities Act and to twenty
United  States  resident  consultants in reliance on  Regulation  D,  Rule  506
thereunder. The shares of common  stock  have  not  been  registered  under the
Securities  Act  or  under any state securities laws and may not be offered  or
sold without registration  with  the  United  States  Securities  and  Exchange
Commission  or  an  applicable  exemption  from  the registration requirements.
Certain consultants executed certain consultant agreements  as  reflected below
and  acknowledged  that  the  securities  to be issued have not been registered
under  the  Securities  Act,  that they understood  the  economic  risk  of  an
investment  in  the securities, and  that  they  had  the  opportunity  to  ask
questions of and  receive  answers  from  our management concerning any and all
matters  related to acquisition of the securities.  Other  consultants  entered
into verbal agreements with the Company and acknowledged that the securities to
be issued  have  not been registered under the Securities Act. The valuation of
the shares of common  stock was determined by the closing price per share as of
the  measurement  date. Therefore,  the  Company  incurred  consulting  expense
related to the issuance  of  shares  of  $1,371,400, which is net of $11,000 in
prepaid expenses and options valued at $27,925.


   *    On January 9, 2007, the Company entered  into  that  certain consultant
   agreement  with  Crescent  Fund  LLC  ("Crescent  Fund") pursuant  to  which
   Crescent Fund agreed to provide certain investor relations  services  to the
   Company  and  the  Company  agreed to issue to Crescent Fund an aggregate of
   500,000 shares of common stock.


   *    On  January  24, 2007,  the  Company   entered into that certain verbal
   consultant agreement with Coast 2 Coast Investments  LLC ("Coast 2 Coast"),
   pursuant to which Coast 2 Coast agreed to provide certain investor relations
   services to the Company and the Company agreed to issue  to  Coast to  Coast
   an aggregate of 600,000 shares of common stock. On March 20, 2007, a further
   500,000 shares of the  Company's  common stock were issued to  Coast 2 Coast
   pursuant to contractual agreement relating  to  the  successful  results  of
   Coast 2 Coast's   services  provided  to  the  Company.   The 500,000 shares
   were subsequently cancelled and returned to treasury.


   *    On February  5,  2007,  the Company entered into that certain corporate
   consulting agreement with Sam  Aiello  ("Aiello"),  pursuant to which Aiello
   agreed to provide certain services including sourcing  of viable oil and gas
   prospects  and  properties  and  re-designing  and deploying  the  Company's
   website and current corporate marketing data and the Company agreed to issue
   to Aiello an aggregate of 400,000 shares of common stock. On May 17, 2007, a
   further 220,000 shares of the Company's common stock  were  issued to Aiello
   pursuant  to  contractual  agreement relating to the successful  results  of
   Aiello's services provided to the Company.


   *    On February 5, 2007, the  Company  entered  into that certain corporate
   consulting  agreement with Jeffrey D. Cox ("Cox"),  pursuant  to  which  Cox
   agreed to provide  certain  consulting services including sourcing of viable
   oil and gas prospects and properties  and  re-designing  and  deploying  the
   Company's  website  and  current  corporate  marketing  data and the Company
   agreed to issue to Cox an aggregate of 400,000 shares of common stock.


   *    On  March  15,  2007,  the Company entered into that certain  corporate
   consulting  agreement with Malcolm  Albert  ("Albery"),  pursuant  to  which
   Albery agreed  to  provide certain services including sourcing of viable oil
   and gas prospects and  properties,  assisting in the development of business
   plans and providing to the Company an  extensive list and the Company agreed
   to  grant  150,000 stock options valued at  $27,925  to  Albert  which  were
   subsequently  exercised  for  proceeds  of  $15,000  and issuance of 100,000
   shares of common stock.

   *    On  March  15,  2007, the Company entered into that  certain  corporate
   consulting agreement with  Larry Taylor ("Taylor"), pursuant to which Taylor
   agreed to provide certain services  including sourcing of viable oil and gas
   prospects and negotiating with Excessior  Oil,  a  private  company with tar
   sands  in Fort Murray, regarding a contractual arrangement and  the  Company
   agreed to issue to Taylor an aggregate of 200,000 shares of common stock.


   *    On  April  2,  2007,  the  Company entered into that certain consulting
   agreement with William Tyler Dillerson  ("Dillerstone"),  pursuant  to which
   Dillerstone  agreed  to  provide  certain services including web development
   services and the Company agreed to  issue  to  Dillerstone  an  aggregate of
   500,000 shares of common stock.

   *    On  May  1,  2007,  the  Company  entered  into  that certain corporate
   consulting  agreement  with  Curtiss  Parker ("Parker"), pursuant  to  which
   Parker agreed to provide certain services  including  sourcing of viable oil
   and  gas  prospects  and  properties  and  re-designing  and  deploying  the
   Company's  website  and  current  corporate  marketing data and the  Company
   agreed to issue to Parker an aggregate of 1,500,000 shares of common stock.

<PAGE> 12


   *    On  May  1,  2007,   the  Company  entered  into  that  certain  verbal
   consultant  agreement  with  Semso  Rekic ("Rekic"),   pursuant   to   which
   Rekic agreed  to provide certain investor relations services and the Company
   agreed  to issue to Rekic an aggregate of 50,000 shares of common stock.


   *    On  May  24,  2007,  the  Company  entered  into that certain corporate
   consulting  agreement  with Bart Lawrence ("Lawrence"),  pursuant  to  which
   Lawrence agreed to provide certain services including sourcing of viable oil
   and gas prospects and properties,  assisting  in the development of business
   plans and providing to the Company an extensive  client list and the Company
   agreed to issue to Lawrence an aggregate of 300,000  shares of common stock.
   On  June  11, 2007, a further 600,000 shares of the Company's  common  stock
   were issued  to  Lawrence  pursuant to contractual agreement relating to the
   successful results of Lawrence's services provided to the Company. On August
   17, 2007, a further 1,000,000  shares  of  the  Company's  common stock were
   issued  to  Lawrence  pursuant  to  contractual  agreement relating  to  the
   successful results of Lawrence's services provided to the Company.

   *    On June 1, 2007, the Company entered  into  a verbal agreement with Ken
  Raina ("Raina"), pursuant to termination of service  as  board member and the
  Company  agreed  to issue to Raina an aggregate of 200,000 shares  of  common
  stock.


   *    On June 1, 2007,  the  Company  entered  into  a  verbal agreement with
  Laurie  Bloom  ("Bloom"),  pursuant to which Bloom agreed to  provide  office
  space for the Company's use  and  the  Company  agreed  to  issue to Bloom an
  aggregate of 150,000 shares of common stock.



   *    On  June  1,  2007,  the  Company  entered  into  that  certain  verbal
   consultant agreement with Mark  Genesi  ("Genesi"), pursuant to which Genesi
   agreed  to  provide certain investor relations services  to  the Company and
   the  Company  agreed  to  issue  to Genesi an aggregate of 150,000 shares of
   common stock.


   *    On  July  30,  2007,  the Company entered into that  certain  corporate
   consulting agreement with Scott  Burnim ("Burnim"), pursuant to which Burnim
   agreed to provide certain services  including sourcing of viable oil and gas
   prospects and properties, re-designing  current corporate marketing data and
   providing to the Company an extensive client  list and the Company agreed to
   issue to Burnim an aggregate of 1,000,000 shares of common stock.


   *    On  August 8, 2007, the Company entered into  that  certain  consulting
   agreement  with  Kristin  Anez  ("Anez"),  pursuant  to which Anez agreed to
   provide certain financial advisory and consulting services  with  respect to
   matters related to the development of the Company's business plan, including
   portfolio  review, comprehensive business planning, business valuation,  aid
   in organizational  strategies,  management  consulting,  and  individualized
   financial performance optimization, and the Company agreed to issue  to Anez
   an  aggregate  of 1,000,000 shares of common stock.  On October 30, 2007,  a
   further 500,000  shares  of  the  Company's common stock were issued to Anez
   pursuant to contractual agreement relating  to  the  successful  results  of
   Anez's services provided to the Company.


   *    On  September  5, 2007, the Company entered into that certain corporate
   consulting agreement  with  Jamie  Gomez  ("Gomez"), pursuant to which Gomez
   agreed to provide certain services including  sourcing of viable oil and gas
   prospects  and  properties,  assisting  in the development  of  website  and
   current marketing data and providing to the Company an extensive client list
   and the Company agreed to issue to Gomez an aggregate of 1,000,000 shares of
   common stock.


   *    On September 5, 2007, the Company entered  into  that certain corporate
   consulting agreement with Reba Duggan ("Duggan"), pursuant  to  which Duggan
   agreed to provide certain services including sourcing of viable oil  and gas
   prospects  and  properties,  assisting  in  the  development  of website and
   current marketing data and providing to the Company an extensive client list
   and  the Company agreed to issue to Duggan an aggregate of 1,000,000  shares
   of common stock.

<PAGE> 13

   *    On  September  5, 2007, the Company entered into that certain corporate
   consulting agreement  with Scott Belazi ("Belazi"), pursuant to which Belazi
   agreed to provide certain  services including sourcing of viable oil and gas
   prospects  and properties, assisting  in  the  development  of  website  and
   current marketing data and providing to the Company an extensive client list
   and the Company  agreed  to issue to Belazi an aggregate of 1,000,000 shares
   of common stock


   *    On September 24, 2007, the Company entered into that certain consulting
   agreement with Mark Brummell ("Brummell"), pursuant to which Brummell agreed
   to provide certain advisory  and consulting services with respect to matters
   related  to  the  development of  the  Company's  business  plan,  including
   portfolio review, comprehensive  business  planning, business valuation, aid
   in  organizational  strategies,  management consulting,  and  individualized
   financial performance optimization,  and  the  Company  agreed  to  issue to
   Brummell an aggregate of 6,000,000 shares of common stock.


   *    On September 24, 2007, the Company entered into that certain consulting
   agreement with Phillip Russell ("Russell"), pursuant to which Russell agreed
   to  provide certain advisory and consulting services with respect to matters
   related  to  the  development  of  the  Company's  business  plan, including
   portfolio  review, comprehensive business planning, business valuation,  aid
   in organizational  strategies,  management  consulting,  and  individualized
   financial  performance  optimization,  and  the  Company agreed to issue  to
   Russell an aggregate of 3,000,000 shares of common stock.


   *    On October 15, 2007, the Company entered into  that  certain consulting
   agreement  with Allison Nigro ("Nigro"), pursuant to which Nigro  agreed  to
   provide certain  advisory  and  consulting  services with respect to matters
   related  to  the  development  of  the  Company's business  plan,  including
   portfolio review, comprehensive business  planning,  business valuation, aid
   in  organizational  strategies,  management  consulting, and  individualized
   financial performance optimization, and the Company agreed to issue to Nigro
   an aggregate of 1,000,000 shares of common stock.


   *    On October 15, 2007,  the  Company  entered   into  that certain verbal
   consulting agreement   with  Paul  Short ("Short"), pursuant to which  Short
   agreed  to provide certain advisory  and  consulting  services  with respect
   to matters related  to  the  development  of  the  Company's  business plan,
   including  portfolio  review,  comprehensive   business  planning,  business
   valuation,  aid in  organizational  strategies,  management  consulting, and
   individualized financial performance optimization, and the Company agreed to
   issue to Short an aggregate of 1,000,000 shares of common stock.


   *    On  October 15, 2007,  the  Company  entered  into that certain  verbal
   consulting  agreement with Roddy Duggan ("Duggan"), pursuant to which Duggan
   agreed to  provide certain advisory  and  consulting  services  with respect
   to matters related  to  the  development  of  the  Company's  business plan,
   including  portfolio  review,  comprehensive  business  planning,   business
   valuation,  aid  in  organizational  strategies,  management consulting, and
   individualized financial  performance  optimization,  and the Company agreed
   to  issue  to Duggan an aggregate of 1,000,000 shares of common stock.


   *    On October 30, 2007, the Company entered  into  that certain consulting
   agreement with Alison Burnim ("Burnim"), pursuant to which  Burnim agreed to
   provide  certain  advisory and consulting services with respect  to  matters
   related  to  the development  of  the  Company's  business  plan,  including
   portfolio review,  comprehensive  business planning, business valuation, aid
   in  organizational  strategies, management  consulting,  and  individualized
   financial performance  optimization,  and  the  Company  agreed  to issue to
   Burnim an aggregate of 1,500,000 shares of common stock.


   *    On  November 28, 2007, the Company entered into that certain consulting
   agreement with John Williams ("Williams"), pursuant to which Williams agreed
   to provide  certain advisory and consulting services with respect to matters
   related to the  development  of  the  Company's  portfolio  of  oil  and gas
   properties  and  the  Company  agreed  to  issue to Williams an aggregate of
   1,000,000 shares of common stock.


   *    On November 28, 2007, the Company entered  into that certain consulting
   agreement  with  Gil  Whyte  ("Whyte"), pursuant to which  Whyte  agreed  to
   provide certain advisory and consulting  services  with  respect  to matters
   related  to  the  development  of  the  Company's  business  plan, including
   portfolio  review, comprehensive business planning, business valuation,  aid
   in organizational  strategies,  management  consulting,  and  individualized
   financial performance optimization, and the Company agreed to issue to Whyte
   an aggregate of 2,500,000 shares of common stock.

<PAGE> 14


   *    On November 28, 2007, the Company entered into that certain  consulting
   agreement with Rick Shykora ("Shykora"), pursuant to which Skykora agreed to
   provide  certain  advisory  and  consulting services with respect to matters
   related  to  the  development  of the  Company's  business  plan,  including
   portfolio review, comprehensive  business  planning, business valuation, aid
   in  organizational  strategies,  management consulting,  and  individualized
   financial performance optimization,  and  the  Company  agreed  to  issue to
   Shykora an aggregate of 2,500,000 shares of common stock.


   *    On  December  5, 2007, the Company entered into that certain consulting
   agreement with Daniel  R.  Davison  ("Davison"),  pursuant  to which Davison
   agreed to provide certain advisory and consulting services with  respect  to
   matters related to the development of the Company's business plan, including
   portfolio  review,  comprehensive business planning, business valuation, aid
   in  organizational strategies,  management  consulting,  and  individualized
   financial  performance  optimization,  and  the  Company  agreed to issue to
   Davison an aggregate of 1,000,000 shares of common stock.


   *    On  December 5, 2007, the Company entered into that certain  consulting
   agreement  with  Peter Kolacz ("Kolacz"), pursuant to which Kolacz agreed to
   provide certain advisory  and  consulting  services  with respect to matters
   related  to  the  development  of  the  Company's  business plan,  including
   portfolio review, comprehensive business planning, business  valuation,  aid
   in  organizational  strategies,  management  consulting,  and individualized
   financial  performance  optimization,  and the Company agreed  to  issue  to
   Kolacz an aggregate of 3,000,000 shares of common stock.


   *    On December 20, 2007, the Company entered  into that certain consulting
   agreement  with Kenneth P. Bottoms ("Bottoms"), pursuant  to  which  Bottoms
   agreed to provide  certain  oil  and  gas  prospects  for the Company in oil
   industry matters and the Company agreed to issue to Bottoms  an aggregate of
   200,000 shares of common stock.


      (ii) During fiscal ear ended December 31, 2007 and including  the  shares
issued  to  Robert  Genesi,  we  issued an aggregate of 1,200,000 shares of our
common stock to certain of our officers/directors as compensation for services.
On  February 1, 2007, April 2, 2007,  June  11,  2007,  October  31,  2007  and
November  14,  2007,  an  aggregate  of  150,000,  50,000, 900,000, 100,000 and
8,900,000 shares of common stock were issued to Don  Hwang and Robert Genesi as
compensation for services rendered related to there role  as  a director of the
Company. The 8,900,000 shares of common stock were subsequently  cancelled  and
returned to treasury. See "Item __. Executive Compensation".


The  shares  of  common  stock  were  issued  to non-United States residents in
reliance on Regulation S promulgated under the  Securities  Act.  The shares of
common  stock  have  not been registered under the Securities Act or under  any
state securities laws  and may not be offered or sold without registration with
the United States Securities and Exchange Commission or an applicable exemption
from the registration requirements.  The  officers/directors  acknowledged that
the securities to be issued have not been registered under the  Securities Act,
that they understood the economic risk of an investment in the securities,  and
that  they  had  the  opportunity  to ask questions of and receive answers from
management  concerning  any  and all matters  related  to  acquisition  of  the
securities. The valuation of the  shares  of common stock was determined by the
closing  price per share as of the measurement  date.  Therefore,  the  Company
incurred compensation expense related to the issuance of shares of $90,500.00.


      (iii)  During fiscal year ended December 31, 2007, we issued an aggregate
of 100,000  shares  of  the  Company's  common  stock  to securities counsel as
compensation for services rendered. The shares of common stock were issued to a
U.S. resident in reliance on. Section 4(2) of the Securities Act. The shares of
common stock have not been registered under the Securities  Act  or  under  any
state  securities laws and may not be offered or sold without registration with
the United States Securities and Exchange Commission or an applicable exemption
from the  registration  requirements.  The securities counsel acknowledged that
the securities to be issued have not been  registered under the Securities Act,
that he understood the economic risk of an investment  in  the  securities, and
that  he  had  the  opportunity  to  ask questions of and receive answers  from
management  concerning  any  and all matters  related  to  acquisition  of  the
securities. The valuation of the  shares  of common stock was determined by the
closing  price per share as of the measurement  date.  Therefore,  the  Company
incurred a legal expense related to the issuance of shares of $27,000.00.

<PAGE> 15


      (iv)   During fiscal year ended December 31, 2007, we issued an aggregate
of 40,000 shares  of  the  Company's  Series  B  Preferred  Stock for aggregate
proceeds of $10,000. The shares of Series B Preferred Stock were  issued  to  a
non-U.S.  resident in reliance on Regulation S promulgated under the Securities
Act. The shares  of  Series B Preferred Stock have not bee registered under the
Securities Act or under  any  state  securities  laws and may not be offered or
sold  without  registration  with  the  United States Securities  and  Exchange
Commission or an applicable exemption from  the  registration requirements. The
investor acknowledged that the securities to be issued have not been registered
under the Securities Act, that he understood the economic risk of an investment
in the securities, and that he had the opportunity  to  ask  questions  of  and
receive  answers  from  management  concerning  any  and all matters related to
acquisition of the securities.

EQUITY COMPENSATION PLAN INFORMATION

      We  have two equity compensation plans, the Frontier  Energy  Corp.  2000
Stock Option  Plan  (the  "2000 Plan") and the Frontier Energy Corp. 2001 Stock
Option Plan (the "2001 Plan").  The  table set forth below presents information
relating to our equity compensation plans as of the date of this Annual Report:

<TABLE>
<CAPTION>
<S><C><C>
              		                       NUMBER OF SECURITIES                                     NUMBER OF SECURITIES
                                                TO BE ISSUED UPON            WEIGHTED-AVERAGE          REMAINING AVAILABLE FOR
                                                   EXERCISE OF              EXERCISE PRICE OF           FUTURE ISSUANCE UNDER
                                               OUTSTANDING OPTIONS,   OUTSTANDING OPTIONS, WARRANTS      EQUITY COMPENSATION
               PLAN CATEGORY                   WARRANTS AND RIGHTS              AND RIGHTS                      PLANS
_____________________________________________  ___________________    ______________________________   ________________________

Equity   compensation   plans   approved  by           115,000                      $2.33                           0
shareholders

Equity  compensation  plans not approved  by             0                            -                             0
shareholders
                                               ___________________    ______________________________   ________________________
Total:                                              20,000,000                      $0.005                          0

</TABLE>

      2000 PLAN

        In  February 2000,  the  Company's  Board  of  Directors  and  majority
shareholders authorized and approved the adoption of the 2000 Plan, under which
an aggregate  of  333,333 shares of common stock are reserved for issuance. The
exercise price for  each  option  shall  be  equal  to 100% to 110% of the fair
market  value of the common stock on the date of grant.  The  2000  Plan  shall
terminate  ten  years after its adoption  and may be terminated by the Board of
Directors on any earlier date.

        In  March   2001,   the  Company's  Board  of  Directors  and  majority
shareholders authorized and approved the adoption of the 2001 Plan, under which
an aggregate of 4,500,000 shares  of  common  stock  are reserved for issuance.
The exercise price for each option shall be no less than  100%  to  110% of the
fair market value of the common stock on the date of grant. The 2001 Plan shall
terminate  ten  years after its adoption and may be terminated by the Board  of
Directors on any earlier date.

      The purpose  of  the  2000 Plan and the 2001 Plan is to enhance our long-
term stockholder value by offering  opportunities  to  our directors, officers,
employees and eligible consultants to acquire and maintain  stock  ownership in
order  to  give these persons the opportunity to participate in our growth  and
success, and to encourage them to remain in our service.

      The 2000  Plan  and  the 2001 Plan are to be administered by our Board of
Directors or a committee appointed  by and consisting of one or more members of
the Board of Directors, which shall determine  (i)  the  persons  to be granted
Stock  Options  under  the  2000  Plan or 2001 Plan; (ii) the number of  shares
subject to each option, the exercise  price  of  each  Stock  Option; and (iii)
whether  the  Stock Option shall be exercisable at any time during  the  option
period up to ten (10) years or whether the Stock Option shall be exercisable in
installments or by vesting only.

<PAGE> 16

      In the event  an optionee ceases to be employed by or to provide services
to us for reasons other  than cause, retirement, disability or death, any Stock
Option that is vested and  held  by  such optionee generally may be exercisable
within  up to ninety (90) calendar days  after  the  effective  date  that  his
position  ceases,  and  after  such  90-day period any unexercised Stock Option
shall expire. In the event an optionee  ceases  to be employed by or to provide
services to us for reasons of retirement, disability or death, any Stock Option
that is vested and held by such optionee generally may be exercisable within up
to one-year after the effective date that his position  ceases,  and after such
one-year period, any unexercised Stock Option shall expire.

      No Stock Options granted under the Stock Option Plan will be transferable
by the optionee, and each Stock Option will be exercisable during  the lifetime
of  the  optionee  subject  to  the  option period up to ten (10) years or  the
limitations described above. Any Stock  Option  held by an optionee at the time
of his death may be exercised by his estate within one (1) year of his death or
such longer period as the Board of Directors may determine.

ITEM 6.MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

      The  following discussion of our plan of operation,  financial  condition
and results  of  operations  should  be  read in conjunction with the Company's
consolidated  financial  statements,  and  notes  thereto,  included  elsewhere
herein.  This discussion contains forward-looking statements that involve risks
and  uncertainties.   Our  actual  results  may differ  materially  from  those
anticipated in these forward-looking statements  as a result of various factors
including, but not limited to, those discussed in this Annual Report.

IN GENERAL

      Frontier Energy Corp. has recently leased  one oil lease property that we
believe is capable of producing oil revenue.  Our  ability  to  emerge from the
exploration  stage with respect to any planned principal business  activity  is
dependent upon  our  efforts  to raise additional equity financing and generate
significant revenue.




RESULTS OF OPERATION

FISCAL YEAR ENDED DECEMBER 31,  2007 COMPARED TO FISCAL YEAR ENDED DECEMBER 31,
2006.

        The net loss for the Company  for  fiscal  year ended December 31, 2007
was ($2,164,953) compared to a net loss of ($911,386)  during fiscal year ended
December  31,  2006,  an  increase  of  $1,253,567. During fiscal  years  ended
December 31, 2007 and 2006, the Company did not generate any revenue.

        During  fiscal  year ended December  31,  2007,  the  Company  incurred
operating expenses of $2,159,886  compared  to  $911,386 incurred during fiscal
year  ended  December  31,  2006, an increase of $1,248,500.  The  increase  in
operating expenses was primarily  attributable  to  the  following  items:  (i)
general and administrative of $1,505,986 (2006: $353,257); (ii) exploration and
development  of  $120,000  (2006:  $9,979); (iii) loss on impairment of mineral
claims of $40,000 (2008: $0); (iv) and  officer compensation of $493,900 (2006:
$548,150).

      Operating expenses incurred during  fiscal  year  ended December 31, 2007
compared to fiscal year ended December 31, 2006 increased  primarily due to the
recording  of  the valuation of shares issued for consultant services.  General
and administrative expenses generally include corporate overhead, financial and
administrative contracted services, marketing, and consulting costs.

      Interest expense of $5,067 (2008: $-0-) incurred during fiscal year ended
December 31, 2007  was recorded. Our net loss during fiscal year ended December
31, 2007 was ($2,164,963)  or  $0.14  per  share  compared  to  a  net  loss of
($911,386)  or $0.49 per share during fiscal year ended December 31, 2006.  The
weighted average  number  of  shares outstanding was 15,466,765 for fiscal year
ended December 31, 2007 compared  to  1,875,654  for fiscal year ended December
31, 2006.

<PAGE> 17

LIQUIDITY AND CAPITAL RESOURCES


FISCAL YEAR ENDED DECEMBER 31, 2007

      As of December 31, 2007, the Company's current  assets  were  $56,414 and
the  Company's  current liabilities were $679,675, which resulted in a  working
capital deficit of  $623,261.  As  of  December  31,  2007, current assets were
comprised  of  $15,664 in cash and $11,000 in pre-paid stock  compensation  and
$29,750 in prepaid  stock  compensation on employment agreement. As of December
31, 2007, current liabilities  were  comprised  of $424,883 in accounts payable
and accrued liabilities, $38,485 in common stock  subscribed  and  $216,307  in
loans payable.

      As  of  December  31,  2007,  the  Company's  total  assets  were $68,194
comprised of: (i) $56,414 in current assets; (ii) $875 in fixed assets  net  of
$219  accumulated  depreciation;  and  (iii)  $10,905  in  mineral  leases. The
decrease in total assets during fiscal year ended December 31, 2007 from fiscal
year  ended  December  31,  2006  was  primarily  due  to  the  pre-paid  stock
compensation.

      As  of  December  31, 2007, the Company's total liabilities were $679,675
comprised entirely of current  liabilities.  The increase in liabilities during
fiscal year ended December 31, 2007 from fiscal  year  ended  December 31, 2006
was primarily due to the increase in accounts payable and accrued liabilities.

      Stockholders' deficit increased from $647 for fiscal year  ended December
31, 2006 to ($611,481) for fiscal year ended December 31, 2007 primarily due to
the issuance of shares to the Company's consultants.


CASH FLOWS FROM OPERATING ACTIVITIES

        The  Company  has  not  generated  positive  cash  flows from operating
activities.  For fiscal year ended December 31, 2007, net cash  flows  used  in
operating activities  was  $93,750,  consisting  primarily  of  a  net  loss of
$2,164,953  adjusted  by $219 in depreciation and amortization expense, $40,000
loss  on  impairment  of  mineral   claims   and   $1,873,825  in  stock  based
compensation. Net cash flows used in operating activities  was  further changed
by $157,159 in accounts payable and accrued liabilities.

        For  fiscal  year  ended  December  31,  2006,  net cash flows used  in
operating  activities  was  $245,138, consisting primarily of  a  net  loss  of
$911,386 adjusted by $581,600  in stock based compensation. Net cash flows used
in operating activities was further  changed by $84,648 in accounts payable and
accrued liabilities.

CASH FLOWS FROM INVESTING ACTIVITIES

      For fiscal year ended December 31, 2007, net cash flows used in investing
activities was $40,000 consisting of in acquisitions of mineral leases compared
to net cash flows used in investing activities  of $11,999 consisting of $1,094
in purchase of fixed assets and $10,905 in acquisition of mineral leases.

CASH FLOWS FROM FINANCING ACTIVITIES

      The  Company  has  financed its operations primarily  from  debt  or  the
issuance of equity instruments.  For  the  fiscal year ended December 31, 2007,
net  cash flows provided from financing activities  was  $126,024  compared  to
$280,283  for  fiscal  year  ended December 31, 2006. Cash flows from financing
activities for fiscal year ended December 31, 2007 consisted of: (i) $25,000 in
proceeds  from  issuance  of  common  stock;  (ii)  $12,485  in  proceeds  from
subscriptions for common stock;  (iii) $88,985 in proceeds from borrowings from
notes  payable  offset  by ($446) in  proceeds  from  financings  from  related
parties.

<PAGE> 18

PLAN OF OPERATION

      The Company has leased  one  oil lease on property located in the western
United States and we are currently attempting  to  raise  sufficient  funds  to
exploit  this  lease and purchase other leases.  We can give no assurances that
the Company will  be  able  to  exploit  its  existing  lease  or  purchase any
additional leases.

MARKETING OF PRODUCTION

      Each  oil and gas property in which we have an interest in will  have  an
operator who  will  be  responsible  for  marketing production.  In our current
project, we are not subject to any contractual  restrictions  that require that
non-operators  such  as  us  consent to the terms and conditions of  any  sales
contract before it is entered into.

      Any non-operator who chooses  to  do  so  may  negotiate and enter into a
sales contract with third parties for the sale of its share of oil and/or gas.

LIQUIDITY AND CAPITAL RESOURCES

      We  have  not generated sufficient operating revenue  or  had  access  to
sufficient capital  to  implement  our  business plan.  Since our revenues from
operations alone are not likely to provide  sufficient  capital  to allow us to
implement our acquisition and merger plans in the near future, we must secure a
source of additional capital.

      We  currently  have  very  limited  operating funds, and we will  require
additional cash to maintain our operations  for  the next twelve months.  Based
on  the  cash we currently have, we will likely need  additional  financing  to
continue operations  beyond 2008.  We have been dependent on loans from certain
stockholders to continue  operations.   Thus,  our success is greatly dependent
upon our ability to raise additional capital.  In the event that we obtain only
modest amounts of additional capital to fund our  operations, we will be forced
to seek such additional capital or discontinue operations.

      We  believe that we will require an additional  $1,000,000  to  fund  our
currently anticipated  requirements  for  ongoing  operations  for our existing
business for the next twelve-month period.  We currently intend  to satisfy our
long-term  liquidity  requirements  from cash flow from operations and  to  the
extent such funds are insufficient, we  must  raise additional funds to sustain
operations.



VARIABLES AND TRENDS

      We  have  no  operating  history with respect  to  oil  and  natural  gas
exploration.  In the event we are  able  to  obtain  the necessary financing to
move  forward  with  our  business  plan,  we expect our expenses  to  increase
significantly  as  we  grow  our business with the  acquisition  of  additional
property or through acquisitions.  Accordingly, the comparison of the financial
data for the periods presented  may not be a meaningful indicator of our future
performance and must be considered in light of our operating history.

CRITICAL ACCOUNTING POLICIES

      We  prepare  our  financial  statements  in  conformity  with  accounting
principals generally accepted in the  United  States.  As such, we are required
to  make  certain  estimates, judgments and assumptions  that  we  believe  are
reasonable based upon  the  information  available  to us.  These estimates and
assumptions affect the reported amounts of assets and  liabilities  at the date
of  the financial statements and the reported amounts of revenues and  expenses
during  the  periods  presented.   The  significant accounting policies that we
believe are the most critical to aid in fully  understanding and evaluating our
reported financial results include the following:

<PAGE> 19

      Full Cost Method.  We utilize the full cost  method  to  account  for our
investment  in oil and gas properties.  Accordingly, all costs associated  with
acquisition,  exploration  and  development  of oil and gas reserves, including
such costs as leasehold acquisition costs, interest  costs relating to unproved
properties, geological expenditures and direct internal  costs  are capitalized
into  the  full cost pool.  As of December 31, 2007, we had no properties  with
proven reserves.   When  we  obtain  proven  oil  and gas reserves, capitalized
costs, including estimated future costs to develop  the  reserves and estimated
abandonment costs, net of salvage, will be depleted on the  units-of-production
method using estimates of proved reserves.  Investments in unproved  properties
and major development projects including capitalized interest, if any,  are not
amortized until proved reserves associated with the projects can be determined.
If  the  future  exploration of unproved properties is determined uneconomical,
the amount of such properties is added to the capitalized cost to be amortized.

      The capitalized  costs  included  in  the full cost pool are subject to a
"ceiling  test,"  which limits such costs to the  aggregate  of  the  estimated
present value, using  an  estimated  discount  rate, of the future net revenues
from proved reserves, based on current economic  and  operating  conditions and
the estimated value of unproven properties.  As at December 31, 2007,   one  of
our unproved oil and gas properties was impaired at $40,000.

      Net  operating loss carryforwards.  We have not recognized the benefit in
our financial  statements  with  respect  to  the  approximately $2,722,000 net
operating loss carryforward for federal income tax purposes  as of December 31,
2007.   This  benefit was not recognized due to the possibility  that  the  net
operating loss  carryforward  would  not  be  utilized,  for  various  reasons,
including  the  potential that we might not have sufficient profits to use  the
carryforward or that  the carryforward may be limited as a result of changes in
our equity ownership.   We intend to use this carryforward to offset our future
taxable income.  If we were  to use any of this net operating loss carryforward
to reduce our future taxable income  and  the  Internal Revenue Service were to
then successfully assert that our carryforward is  subject  to  limitation as a
result  of  certain  capital  transactions,  we  may be liable for back  taxes,
interest and, possibly, penalties prospectively.

      Impairment of Long Lived Assets.  We assess  the impairment of long-lived
assets  on  an  ongoing basis and whenever events or changes  in  circumstances
indicate that the  carrying value may not be recoverable based upon an estimate
of future undiscounted  cash  flows.  Factors we consider that could trigger an
impairment  review  include  the following:  (i)  significant  underperformance
relative to expected historical  or  projected  future  operating results; (ii)
significant  changes  in the manner of our use of the acquired  assets  or  the
strategy for our overall  business;  (iii)  significant  negative  industry  or
economic  trends;  (iv)  significant decline in our stock price for a sustained
period; and (v) our market capitalization relative to net book value.

      When we determine that the carrying value of any long-lived asset may not
be recoverable based upon  the existence of one or more of the above indicators
of impairment, we measure impairment based on the difference between an asset's
carrying value and an estimate  of  fair  value,  which may be determined based
upon  quotes  or  a  projected  discounted  cash flow, using  a  discount  rate
determined by our management to be commensurate  with  our  cost of capital and
the  risk  inherent in our current business model, and other measures  of  fair
value.

RECENT ACCOUNTING PRONOUNCEMENTS

      In  December 2004,  the  FASB  issued  Statement  No. 123R,  "Share-Based
Payment," which  requires companies to recognize in the statement of operations
all share-based payments  to  employees,  including  grants  of  employee stock
options,  based  on their fair values.  Accounting for share-based compensation
transactions using  the  intrinsic method supplemented by pro forma disclosures
will no longer be permissible.   The new statement will be effective for public
entities in the first interim period  for fiscal years beginning after June 15,
2005, and, accordingly, will be adopted  by us in the first quarter of calendar
year  2006.   The  actual impact of adoption  of  SFAS  123R  cannot  be  fully
predicted at this time because it will depend on levels of share-based payments
granted in the future.   The adoption of this new statement will have no effect
until share-based compensation is issued by the Company.

OFF BALANCE SHEET ARRANGEMENTS

      We have no off-balance  sheet  arrangements  that  have or are reasonably
likely to have a current or future effect on our financial  condition,  changes
in financial condition, revenues or expenses, results of operations, liquidity,
capital expenditures or capital resources that are material to investors.

<PAGE> 20



ITEM 7.     FINANCIAL STATEMENTS



                               TABLE OF CONTENTS

                                                                   Page No.

Report of Independent Registered Public Accounting Firm            F-1

Financial Statements

   Balance Sheets                                                  F-2

   Statements of Operations                                        F-3

   Statement of Stockholders' Deficit                              F-4

   Statements of Cash Flows                                        F-5

Notes to Financial Statements                                      F6 - F21




<PAGE> 21


            REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


To the Stockholders and Board of Directors
Frontier Energy Corp.
Las Vegas, Nevada

      We have audited the accompanying balance sheets of Frontier Energy  Corp.
as  of  December  31,  2007 and 2006, and the related statements of operations,
stockholders' deficit and cash flows for the years then ended.  These financial
statements  are  the  responsibility   of   the   Company's   management.   Our
responsibility is to express an opinion on these financial statements  based on
our audit.

      We conducted our audit in accordance with standards of the Public Company
Accounting  Oversight  Board (United States).  Those standards require that  we
plan and perform the audit  to  obtain  reasonable  assurance about whether the
consolidated financial statements are free of material  misstatement.  An audit
includes  examining,  on  a  test basis, evidence supporting  the  amounts  and
disclosures in the consolidated  financial  statements.  An audit also includes
assessing  the accounting principles used and  significant  estimates  made  by
management,  as well as evaluating the overall consolidated financial statement
presentation.   We  believe  that our audit provides a reasonable basis for our
opinion.

      In  our  opinion, the financial  statements  referred  to  above  present
fairly, in all material  respects,  the  financial  position of Frontier Energy
Corp., as of December 31, 2007 and 2006, and the results  of its operations and
cash  flows  for the years then ended in conformity with accounting  principles
generally accepted in the United States of America.

      The accompanying  financial  statements  have been prepared assuming that
the Company will continue as a going concern.  As  discussed  in  Note 2 to the
financial  statements,  the Company has suffered losses and current liabilities
exceed current assets, all  of  which raise substantial doubt about its ability
to continue as a going concern.  Management's plans in regards to these matters
are also described in Note 2.  The  financial  statements  do  not  include any
adjustments that might result from the outcome of this uncertainty.


      As  discussed  in  Note 9 to the financial statements, under the heading,
"Restatement", the Company's balance sheet, statement of operations,  statement
of stockholders' deficit and  statement  of  cash  flows as of and for the year
ended December 31, 2007, have been restated from previously  reported  amounts.
We  also  audited  the  adjustments  described  in  Note 9 that were applied to
restate  the 2007 financial statements, respectively.   In  our  opinion,  such
adjustments are appropriate and have been properly applied.


/s/ De Joya Griffith & Company, LLC
De Joya Griffith & Company, LLC
Henderson, Nevada
April 14, 2008, except for Note 9, as to which the date is June 28, 2010.


<PAGE> F-1


<TABLE>
<CAPTION>
<S><C><C>

                             FRONTIER ENERGY CORP.
                       (AN EXPLORATION STAGE ENTERPRISE)
                                BALANCE SHEETS

                                                                                          December 31,
											  ------------
                                                            			2007                   2006
                                    		                              	(restated)
										----------	       ----------
                                    ASSETS

Current assets
   Cash                                                                   	$   15,664 		$  23,390
   Prepaid stock compensation                                                       11,000                      -
   Prepaid stock compensation - related party                                       29,750                386,750
										-----------		----------
      Total current assets                                                          56,414                410,140
										-----------		----------

   Fixed assets, net of $219 accumulated depreciation                                  875                  1,094
   Mineral leases                                                                   10,905                 10,905
										-----------		----------

Total assets                                                               	$   68,194  		$ 422,139
										===========		==========

                                           LIABILITIES AND STOCKHOLDERS' DEFICIT

Current liabilities
   Accounts payable and accrued liabilities                                 	$  424,883  		$ 267,724
   Loans payable                                                                   216,307                127,322
   Common stock subscribed                                                          38,485                 26,000
   Due to related parties                                                                -                    446
										-----------		----------
      Total current liabilities                                                    679,675                421,492
										-----------		----------

      Total liabilities                                                            679,675                421,492

Stockholders' deficit

   Series A preferred stock, $0.001 par value; 1 share
      authorized, and 1 share issued and outstanding                                     -                      -
   Series B preferred stock, $0.001 par value; 130,000
      authorized; and 80,000 and 40,000 shares issued or outstanding                    80                     40
   Common stock, $0.001 par value; 100,000,000 shares
      authorized, 41,256,464 and 3,886,464 shares issued and outstanding            41,256                  3,886
   Additional paid-in capital                                                    6,497,625              4,982,210
   Accumulated deficit prior to reentering exploration stage                    (3,042,536)            (3,042,536)
   Accumulated deficit after reentering exploration stage                       (4,107,906)            (1,942,953)
										-----------		----------
      Total stockholders' deficit                                                 (611,481)                   647
										-----------		----------

Total liabilities and stockholders' deficit                                	$   68,194  		$ 422,139
										===========		==========


                See Accompanying Notes to Financial Statements


<PAGE> F-2
                             FRONTIER ENERGY CORP.
                       (AN EXPLORATION STAGE ENTERPRISE)
                           STATEMENTS OF OPERATIONS


                                                                                                Cumulative After
                                                                                                Reentering
                                                                                                Exploration
                                                     For the Years Ended                     	Stage through
                                   	December 31, 2007           	December 31, 2006       December 31, 2007
                                        (restated)                                              (restated)
					------------------		------------------	------------------

Revenue          			$         -			$        -              $          -

Operating expenses
    Officer Compensation		    493,900                        548,150          	   1,042,050
    General and administrative    	  1,505,986                        353,257            	   2,810,810
    Exploration and development             120,000                          9,979                   129,979
    Loss  on  impairment   of  mineral       40,000                              -                   120,000
    claims

					-----------			-----------		--------------
           Total operating expenses	  2,159,886                        911,386            	    4,102,839

					-----------			-----------		--------------

           Net operating loss         	 (2,159,886)                      (911,386)          	   (4,102,839)

Interest expense                              5,067                              -         	        5,067
					-----------			-----------		--------------

Net loss                       		$(2,164,953)     		$ (911,386)     	$  (4,107,906)

					===========			===========		==============

Earnings (loss) per common share  -
basic:

    Net loss -Common Stock  		$    (0.14)  	 		$    (0.49)
					===========			===========
Weighted average common shares
outstanding -
    Basic - Common Stock 	   	 15,446,765                       1,875,654
					===========			===========

                See Accompanying Notes to Financial Statements


<PAGE> F-3
                             FRONTIER ENERGY CORP.
                       (AN EXPLORATION STAGE ENTERPRISE)
                      STATEMENT OF STOCKHOLDERS' DEFICIT


                                                                                     				Accumulated	Accumulated
                                                                                       				Deficit    	Deficit
                                                                                      				Prior to     	After
                                                                                     		Additional	Reentering 	Reentering    	Total
             		Preferred A		Preferred B           	Common Stock		Paid-in		Exploration	Exploration     Stockholders'
              		Shares    Amount  	Shares    Amount	Shares    Amount	Capital     	Stage      	Stage     	Defiict
			----------------	----------------	----------------	----------	------------	------------	-------------
Balance,
December 31, 1 2003	-         -      	-      -         	    9,341      9    	2,169,462  	(3,042,536)		-     	(873,065)

Re-pricing of
stock options
from $0.20 to
$0.10 resulting in
the issuance of
an additional
400,000 shares of
common stock		-         -            	-      -         	    1,000      1   	   39,999     		-          	- 	  40,000

Shares issued
to satisfy Company
debts to its
President and
a former officer 	-         -            	-      -         	    9,575     10      	  456,951    		-         	-  	 456,961

Shares issued
for settlement of
lawsuit			-         -           	-      -         	      238      0     	    5,000      		-          	-  	   5,000

Shares issued
for compensation
of stock price
decrease     		-         -            	-      -         	      500      1   	      (20)     		-          	-           (20)

Reversal of
shares issued
in error		-         -            	-      -        	     (500)    (1)              20         	-         	-            20

Shares issued
for private
placement
memorandum		-         -            	-      -         	   10,500     11            31,490     		-          	- 	  31,500

Shares issued
for private
placement
memorandum		-         -            	-      -         	    8,750      9            26,241     		-          	- 	  26,250

Shares issued
for private
placement
memorandum             	-         -            	-      -         	    4,500      5            13,496     		-          	-	  13,500

Shares issued
to satisfy
payables to
third parties		-         -            	-      -         	    2,406      2           141,879    		-          	- 	  141,881

Net loss		-         -            	-      -         	        -      -                 -          	-	  (83,614)   	 (83,614)
			----------------	----------------	----------------	----------	------------	------------	---------


Balance,
December 31, 2004	1	  -            	-      -         	   46,310     46     	2,884,517  	(3,042,536)	  (83,614)   	(241,587)

Issuance of
shares in
exchange for
mineral
claims       		-         -            	-      -   		  246,461    246           79,754     		-          	-          80,000

Issuance of
16,250 stock
options
for
settlement of		-         -            	-      -         	        -      -   	   47,216     		-          	-          47,216
payable

Exercise of
stock options		-         -            	-      -         	   16,250     16              (16)       	-          	-          	-

Rounding for
reverse split		-         -            	-      -         	      585      -    	        -          	-          	-          	-

Issuance of
shares for
consulting
services		-         -            	-      -         	   20,000     20            19,980     		-          	-          20,000

Issuance of
shares for
finder's fee
related to
the Bindloss
Agreement		-         -            	-      -         	  500,000    500         799,500    		-          	-        800,000

Net loss		-         -            	-      -         	        -      -   	       -          	-	  (947,953)  	(947,953)
			----------------	----------------	----------------	----------	------------	------------	---------

Balance,
December 31, 2005	1         -            	-      -         	  829,606    829       3,830,950  	(3,042,536)	(1,031,567)	(242,324)

Exercise of
stock options
for loan		-         -            	-      -         	  500,000    500   	      -          	-          	-            500

Exercise of
stock options
for cash		-         -            	-      -         	  434,000    434              -          	-          	-            434

Issuance of
shares per
employment
agreements		-         -            	-      -         	  700,000    700         713,300    		-          	-   	 714,000

Compensation
paid with
254,167
shares of
common stock 		-         -            	-      -         	  108,000    108         110,392    		-          	-	 110,500

Issuance of
shares for
consulting
services		-         -            	-      -         	  375,000    375 	 103,075    		-          	-	 103,450

Issuance of
shares to
Director
containing
1,000 votes
per share		-         -            	40,000 40        	       -       -   	  40,360     		-          	-	  40,400

Issuance of
Reg S Shares 		-         -            	-      -         	  939,858    940   	  184,133    		-          	-	 185,073

Net loss		-         -            	-      -         	        -      -      	        -          	-  	  (911,386)  	(911,386)
			----------------	----------------	----------------	----------	------------	------------	---------

Balance,
December 31, 2006	1         -            	40,000 40        	3,886,464  3,886     	4,982,210  	(3,042,536)	(1,942,953)	     647

Issuance of
shares for
consulting
services		-         -            	-      -         	35,970,000 35,970    	1,346,430  		-          	- 	1,382,400

Issuance of
shares for
officer
compensation		-         -            	-      -         	1,200,000  1,200     	   89,300     		-          	-          90,500

Issuance of
shares for
legal
services		-         -            	-      -         	  100,000    100   	   26,900     		-          	-          27,000

Issuance of
150,000 stock
options for
services		-         -            	-      -         	        -      -   	   27,925     		-          	-          27,925

Issuance of
40,000
preferred
stock for
cash			-         -            	40,000 40        	        -      -   	   9,960      		-          	-          10,000

Exercise of
Options      		-         -            	-      -         	  100,000    100 	  14,900     		-          	-           15,000

Net loss		-         -            	-      -         	        -      -   	       -          	- 	(2,164,953)	(2,164,953)
			----------------	----------------	----------------	----------	------------	------------	-----------

Balance,
December 31, 2007	1         -            	80,000 80        	41,256,464 41,256	6,497,625  	(3,042,536)	(4,107,906)	  (611,481)
			================	================	=================	==========	============	============	===========


                See Accompanying Notes to Financial Statements


<PAGE> F-4

                             FRONTIER ENERGY CORP.
                       (AN EXPLORATION STAGE ENTERPRISE)
                            STATEMENTS OF CASH FLOW


                                                                                               				Cumulative After
                                                                                                			Reentering
                                                                                                			Exploration
										For the Years Ended			Stage through
                                   				December 31, 2007           	December 31, 2006       December 31, 2007
                                       				(restated)                                              (restated)
								------------------		------------------	------------------
CASH FLOWS FROM OPERATING ACTIVITIES
   Net loss                                             	$  (2,164,953)             	$   (911,386)     	$   (4,107,906)
   Adjustments to reconcile loss
      to net cash used in operating activities:
           Depreciation and amortization expense                          219                     	   -                       219
           Stock  issued  as  finders  fee  for  mineral                    -                     	   -                   800,000
           rights agreement
           Loss on impairment of mineral claims                        40,000                    	   -                   120,000
           Stock based expenses                                     1,873,825                	     581,600                 2,541,675
   Changes in operating assets and liabilities:
           Accounts payable and accrued liabilities                   157,159                	      84,648                   196,513
								--------------			--------------		---------------

   Net cash used in operating activities			      (93,750)		    	    (245,138)		      (449,499)

CASH FLOW INVESTING ACTIVITIES
   Purchase of fixed assets						    -			      (1,094)			(1,094)
   Acquisition of mineral leases				      (40,000)		             (10,905)		       (50,905)
								--------------			--------------		---------------

   Net cash used in financing activities			      (40,000)			     (11,999)		       (51,999)
								--------------			--------------		---------------
CASH FLOW FINANCING ACTIVITIES
   Proceeds from issuance of common stock			       25,000                         185,507			255,507
   Proceeds from subscriptions for common stock			       12,485                          26,000			 38,485
   Proceeds from borrowings from notes payable			       88,985                          68,105			216,512
   Proceeds from borrowings from related parties			 (446)                            671			  2,295
								--------------			--------------		---------------

   Net cash provided by financing activities			      126,024			      280,283			512,799
								--------------			--------------		---------------

NET CHANGE IN CASH						       (7,726)			       23,146			 11,301

CASH AT BEGINNING OF YEAR						23,390				  244			  4,363
								--------------			--------------		---------------

CASH AT END OF YEAR 						$       15,664                         23,390                    15,664
								===============			==============		===============

SUPPLEMENTAL INFORMATION
      Interest Paid                                   		$             -                     	   -                         -
								===============			==============		===============

      Income Taxes Paid                                     	$             -                     	   -                         -
								===============			==============		===============

Non-cash activities:
      Shares issued pursuant to farm-in agreement   		$             -                     	   -                   800,000
								===============			==============		===============
      Shares issued in settlement of accounts payable        	$	      -                     	   -                   188,096
								===============			==============		===============
      Shares issued for mineral claims                  	$ 	      -                   	   -                    80,000
								===============			==============		===============
      Shares issued for settlement of lawsuit                 	$  	      -                     	   -                     6,000
								===============			==============		===============
      Shares issued for consulting  services  treated  as
	prepaid expenses				    	$        11,000                      	   -                    11,000
								===============			==============		===============
      Shares  issued  in  settlement  of debts to related    	$             -                     	   -                   462,961
								===============			==============		===============


                See Accompanying Notes to Financial Statements


<PAGE> F-5

</TABLE>






                             FRONTIER ENERGY CORP.
                       (AN EXPLORATION STAGE ENTERPRISE)
                         NOTES TO FINANCIAL STATEMENTS
                          DECEMBER 31, 2007 AND 2006



NOTE  1  -  HISTORY AND ORGANIZATION

Re-entering Exploration Stage - As described below, the Company distributed the
assets and liabilities of the operating  segment of the Company on November 26,
2003.  Subsequent to that date, the Company  changed  from  a computer services
company to an exploration company pursuing interests in the oil  and  gas,  and
precious  metals  industry.   The  Company  has  devoted most of its efforts to
establish the new business with raising capital and acquiring mineral leases.

Organization History -  Frontier Energy Corp., (the  "Company")  was originally
incorporated  on   April   14,  1998,  according  to  the  laws  of   Colorado.
The  Company  was reincorporated   according   to   the   laws  of  Delaware on
February 17, 2000.  On February  27, 2001, World Internetworks,  Inc.  ("WINS")
entered  into  an  Agreement  and   Plan  of  Reorganization  and  Merger  (the
"Plan   of  Merger")  with  GTD Acquisition,   Inc.   ("Newco")   and  GT  Data
Corporation  ("GT  Data").  On March 20, 2001,  and  pursuant  to a Certificate
filed with the Nevada Secretary of State, the  WINS  effected a 1 for 2 reverse
split of all the outstanding  shares of its common stock, options and warrants.
Immediately  following  the  reverse   split   WINS  had   250,000,000   shares
authorized  and 355,206 shares issued and outstanding. Outstanding  options and
warrants were 11,225 and 40,750 respectively, after  the  reverse   split.   On
March   22,   2001,   the Plan of Merger became effective (the "Merger"). Under
the Merger, Newco merged  with and into GT Data, with GT Data as the  surviving
subsidiary  of  the  Company.   On   December 3, 2001, the Company changed  its
name  from  WINS  to  GT Data Corporation. Pursuant to the Plan of Merger,  all
of the 384,420 outstanding preferred B  and  common  shares  of  GT  Data  were
exchanged   for   shares   of   WINS   1 for 1 on a post-split basis and 37,500
shares   were   issued   to   Fairway  Capital  Partners,  LLC,  a  finder,  in
connection with the transaction. All of  the  outstanding  shares of Newco were
converted into shares  of GT Data as the surviving corporation,  with  WINS  as
the  sole  holder  of those  shares.  The transaction was regarded as a reverse
merger whereby GT Data  was  considered  to  be  the  accounting acquirer as it
retained control of WINS  after  the  Merger.  Pursuant  to the Plan of Merger,
certain shareholders of GT  Data   agreed   to   surrender  358,297  shares  of
common  stock  prior  to  the consummation  of  the   Merger.    Prior  to  the
merger,  the  WINS  had insignificant business  activity.  The  accounting  for
the  acquisition is identical  to  that  resulting  from a reverse acquisition,
except  goodwill or other intangible assets are  not   recorded.   Accordingly,
these financial  statements  are  the  historical financial  statements  of  GT
Data.

Up until November 2003, the Company was engaged in the sale, repair and support
service  of  in-warranty  and  out-of- warranty computer peripheral devices for
a variety  of  large  and  small brand name  manufacturers  through  its wholly
owned  subsidiary,  Technical  Services & Logistics Inc. ("TSLi").  On November
17, 2003, the  Company's  Board  of  Directors  voted  unanimously to liquidate
TSLi  through  a  General   Assignment benefiting the creditors  of  TSLi.   On
November 26, 2003, the Company consummated a General Assignment Agreement ("the
agreement") that assign all   the   assets  and liabilities of TSLi to the C.F.
Boham  Company, Inc., d.b.a. the  Hamer  Group,  of  Los  Angeles,  California.
The assignment  is essentially a liquidation  of  TSLi that was overseen by the
Hamer Group, who acted as trustee of  TSLi's  affairs  during  the  liquidation
process.

Pursuant to the terms  of  the  agreement,  the  Company  agreed to immediately
assign all of  TSLi's assets and liabilities, and forward all books and records
relating  to  TSLi,  to  the Hamer Group.  The assignment constitutes  a  grant
deed to all real  property   owned   by TSLi and effectively transfers title of
TSLi's  real property to  the  Hamer  Group.   In   addition,   the   agreement
transfers  legal title and possession  of  all  assets  and liabilities of TSLi
to the Hamer  Group  and  also  gave   the   Hamer  Group  sole  authority, and
responsibility,  to  sell  the  assets  of TSLi  and  distribute  any available
funds to the creditors of TSLi.  In effect,  the   agreement  gives  total  and
complete control of TSLi to the Hamer Group to oversee the liquidation process.
The agreement also stated that the Hamer Group shall pay itself, from the gross
proceeds of sales, collections, operations, and any   and  all other sources, a
minimum  of  thirty thousand dollars ($30,000) plus reasonable   administrative
expenses.

<PAGE> F-6


                             FRONTIER ENERGY CORP.
                       (AN EXPLORATION STAGE ENTERPRISE)
                         NOTES TO FINANCIAL STATEMENTS
                          DECEMBER 31, 2007 AND 2006

 NOTE  1  -  HISTORY AND ORGANIZATION (CONTINUED)

The agreement  also  stated that the Hamer Group is entitled to pay its agents,
and any other professionals  and individuals employed  on  its  behalf, for any
and all services and expenses  incurred  during  the   liquidation of TSLi.  In
addition,  the  Hamer Group is entitled to a 15% fee on gross  recoveries  from
collections  on preferences  or  lawsuits  and  a  reasonable  fee,   including
expenses,  for   the   collection   thereof.   In the event that an involuntary
proceeding   is  filed,  the  Hamer  Group  may  pay  its   counsel,  or  other
professionals,  out  of  liquidated  recoveries  of  TSLi's  estate.

Per  the agreement,  all  aforementioned  amounts  are  to be determined at the
sole, but reasonable, discretion of the Hamer Group, and judgment shall include
but  not  be  limited   to   monthly  administrative  charges. The Company  has
accounted for this assignment of TSLi as discontinued operations  in accordance
with   Statement   of   Financial   Accounting  Standards  ("SFAS")  No.   144.
Accordingly,   the   Company  has reflected  all  activities  related  to  TSLi
operations   as  discontinued  operations   in   the   accompanying   financial
statements.

As   a  result   of   the  discontinued  operations  of  TSLi  activities,  the
Company's  sole   activity   as   of   December   31, 2007 and 2006 is pursuing
interest in the oil and gas and precious metals industry.

On July 27, 2005, the Company authorized a name change to Frontier Energy Corp.
and  changed  the authorized shares to 100,000,000 shares  with  par  value  of
$0.001 per share.  The Company also approved a 1-for -40 reverse stock split of
its common stock.  Accordingly, the accompanying Financial Statements have been
retroactively adjusted  as  if  the  reverse  stock  split  had occurred at the
Company's inception.

The  Company  formed  FEC Holdings, Corp ("FEC"), as a Canadian  subsidiary  to
facilitate the agreement  with Angel Exploration, FEC incurred some exploration
costs, primarily connected  to  the  Angels  Exploration Fund, Inc. outlined in
Note 4.  Following the cancellation of the agreement  with  Angel  Exploration,
Frontier entered into a proposed merger negotiations with Sol-Terra Energy, Inc
After  the  termination of the Sol-Terra Energy, Inc. merger negotiations,  FEC
ceased operations in 2006.

On January 19,  2005,  the  Company  entered  into an Assignment and Assumption
Agreement ("Agreement") with a Company that holds and Option Purchase Agreement
("Contract") for purchase and sale of property in British Columbia, Canada.

In consideration for the Agreement, the Company issued 246,461 shares of common
stock  valued  at  $80,000.  As of December 31, 2005,  the  Company  had  fully
impaired the $80,000 interest.

NOTE  2  -  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Going  concern  -  The  Company incurred a net loss of approximately $2,165,000
and $911,000 for the years ended December 31, 2007 and 2006, respectively.  The
Company's liabilities exceed  its  assets  by   approximately  $623,000  as  of
December  31,  2007.  The  Company's  sole operations   have  been  limited  to
pursuing  interests  in  the  oil and gas, and precious metals industry with no
source of operating revenues.   These   factors  create substantial doubt about
the Company's ability to continue as  a  going  concern.

The  Company's  management  plans to continue  as  a  going  concern   revolves
around   its  ability  to  develop and/or acquire new business operations,   as
well  as,   raise   necessary   capital   to maintain the corporate affairs  of
the  Company.

The  ability of the Company to continue as  a  going  concern  is  dependent on
securing  additional sources of capital and the success of the Company's  plan.
The financial statements do not include any adjustments that might be necessary
if the  Company is unable to continue as a going  concern.

<PAGE> F-7


                             FRONTIER ENERGY CORP.
                       (AN EXPLORATION STAGE ENTERPRISE)
                         NOTES TO FINANCIAL STATEMENTS
                          DECEMBER 31, 2007 AND 2006

NOTE  2  -  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Use  of  estimates   -  The  preparation  of financial statements in conformity
with  accounting   principles  generally  accepted   in   the   United   States
requires management  to make estimates and assumptions that affect the reported
amounts of assets  and   liabilities   and  disclosure of contingent assets and
liabilities  at  the   date  of  the  financial  statements  and  the  reported
amounts of revenue and expenses  during  the periods presented.  Actual results
could differ from those estimates.

Property   and   equipment    -   Fixed   assets   are   stated  at  cost  less
accumulated  depreciation.   Depreciation    is  provided  principally  on  the
straight-line method over the estimated useful  lives  of the assets, which are
generally 5 to 7 years. The  amounts  of  depreciation provided  are sufficient
to charge the cost of the related  assets  to  operations  over their estimated
useful lives.  The cost of repairs  and  maintenance  is  charged to expense as
incurred.    Expenditures   for  property   betterments   and   renewals    are
capitalized.  Upon  sale  or   other disposition  of  a  depreciable  property,
cost and accumulated depreciation  are  removed   from   the  accounts  and any
gain or loss is reflected in other income.

The   Company   periodically   evaluates   whether  events  and   circumstances
have occurred  that may warrant revision of  the estimated useful life of fixed
assets  or   whether  the  remaining  balance  of   fixed   assets   should  be
evaluated for  possible   impairment.   The  Company  uses  an  estimate of the
related  undiscounted  cash  flows  over   the  remaining  life  of  the  fixed
assets in measuring their recoverability.

Comprehensive   income   -  In June 1998, the  Financial  Accounting  Standards
Board  ("FASB") issued SFAS  No.  130,  "Reporting  Comprehensive  Income"  was
issued.   SFAS  No.  130 establishes standards for the reporting and display of
comprehensive income and  its  components  in  the financial statements.  As of
December  31,  2007  and  2006,  the  Company  has   no  items  that  represent
comprehensive income and,  therefore,   has   not   included   a   schedule  of
Comprehensive  Income  in  the accompanying  financial  statements.

Income  taxes  -  The Company accounts for its income taxes in accordance  with
SFAS No.  109 "Accounting  for  Income  Taxes,"   which requires recognition of
deferred tax assets and liabilities for future  tax  consequences  attributable
to   differences   between   the  financial statement   carrying   amounts   of
existing  assets  and  liabilities  and  their respective  tax  bases  and  tax
credit  carryforwards.  Deferred tax  assets  and  liabilities   are   measured
using enacted tax rates expected to apply to taxable income  in  the  years  in
which those  temporary  differences  are expected to be recovered  or  settled.
The effect on deferred tax assets and  liabilities  of a change in tax rates is
recognized in operations in the period that includes the enactment date.

As  of  December  31,  2007,  the  Company  has  available net  operating  loss
carryovers  of  approximately $2,722,000 that will expire  in  various  periods
through 2027. Such  losses  may  not be fully deductible due to the significant
amounts of non-cash service costs.   The  Company  has  established a valuation
allowance for the full tax benefit of the operating loss  carryovers due to the
uncertainty regarding realization.




<PAGE> F-8
                             FRONTIER ENERGY CORP.
                       (AN EXPLORATION STAGE ENTERPRISE)
                         NOTES TO FINANCIAL STATEMENTS
                          DECEMBER 31, 2007 AND 2006


NOTE  2  -  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Stock-based   compensation   -   The   Company  applied  Accounting  Principles
Board ("APB")  Opinion  No.  25  through  December  31, 2005. Effective January
1,  2006,  the  Company  adopted  SFAS  123(R)  using the modified  prospective
transition  method,  which  requires  the  measurement   and   recognition   of
compensation  expense  for all share-based payment awards made to the Company's
employees and directors  including  stock  options  under  the  New  Plan.  The
Company's   financial  statements   reflect  the  effect  of  SFAS  123(R).  In
accordance with  the  modified  prospective  transition  method,  the Company's
financial  statements for prior periods have not been restated to reflect,  and
do not include,  the  impact  of  SFAS 123(R). Share-based compensation expense
recognized is based on the value of  the  portion of share-based payment awards
that  is  ultimately  expected  to  vest.  Share-based   compensation   expense
recognized  in  the  Company's  Statements  of Operations during the year ended
December 31, 2006 included compensation expense  for share-based payment awards
granted prior to, but not yet vested, as of December  31,  2006  based  on  the
grant  date fair value estimated in accordance with the pro forma provisions of
SFAS 123  and  compensation  expense for the share-based payment awards granted
subsequent to December 31, 2005 based on the grant date fair value estimated in
accordance with the provisions of SFAS 123(R). In conjunction with the adoption
of SFAS 123(R), the Company elected  to  attribute  the  value  of  share-based
compensation   to  expense  using  the  straight-line  attribution. Share-based
employee compensation  expense related to stock options was $ - and $ - for the
years ended December 31,  2007  and  2006, respectively. During the years ended
December 31, 2007, and 2006, there was  no  share-based  employee  compensation
expense related to stock options recognized under the intrinsic value method in
accordance with APB 25.


Upon  adoption  of  SFAS  123(R),  the Company elected to value its share-based
payment awards granted after January  1,  2006  using the Black-Scholes option-
pricing model, which was previously used for its pro-forma information required
under SFAS 123. The Black-Scholes model was developed for use in estimating the
fair value of traded options that have no vesting  restrictions  and  are fully
transferable.   The   Black-Scholes   model   requires  the  input  of  certain
assumptions. The Company's options have characteristics significantly different
from  those of traded options, and changes in the  assumptions  can  materially
affect the fair value estimates.

The Company  issued  2,000,000 shares for stock compensation to officers of the
Company on February 17, 2006.  The employment agreements vest the shares over a
24 month period beginning  with the date of issue.  Valuation of $2,040,000 was
based upon the weighted average  stock  price  of  $1.02 for the 5 trading days
preceding  the  issuance of the shares.   However, the  Company  cancelled  two
certificates totaling 1,300,000 shares with a value totaling $1,326,000 leaving
net  common  stock   totaling  700,000  shares  and  value  of  $714,000.   The
compensation is being  expensed on a monthly basis as the shares vest.  Payroll
taxes are being accrued  on  the  vested  shares.  The Company has recorded the
issued shares as a prepaid expense and accrued  the  vested  shares against the
prepaid  monthly.   As  of  December  31,  2007 and 2006, the Company  recorded
$357,000  and  $327,250, respectively, as an expense  related  to  the  portion
vested during those  periods, with a remaining prepaid of $29,759 and $386,750,
respectively.  The Company  also  issued shares to terminated officers totaling
108,000  shares of common stock with  a  total  value  of  $110,500  which  was
expensed in 2005.

Net  income  (loss)  per  common share - The Company computes net income (loss)
per share  in  accordance   with   SFAS   No.  128,  "Earnings  per  Share" and
SEC Staff Accounting  Bulletin  ("SAB")  No.  98.  Under the provisions of SFAS
No. 128 and SAB  No.  98,  basic  net  loss  per  share is computed by dividing
the net loss available  to  common stockholders  for the period by the weighted
average  number of  shares  of  common  stock outstanding  during  the  period.
The calculation  of  diluted  net  loss  per share gives effect to common stock
equivalents, however,  potential   common   shares   are   excluded   if  their
effect  is  antidilutive.

Reclassification   -   The   financial  statements  for  2006  reflect  certain
reclassifications,  which  have   nominal   effect  on  net  income, to conform
to classifications  in  the  current  year.




<PAGE> F-9
                             FRONTIER ENERGY CORP.
                       (AN EXPLORATION STAGE ENTERPRISE)
                         NOTES TO FINANCIAL STATEMENTS
                          DECEMBER 31, 2007 AND 2006


NOTE 3  -  NEW ACCOUNTING PRONOUNCEMENTS

In February 2007, the Financial Accounting Standards  Board issued Statement of
Financial Accounting Standards No. 159, "The Fair Value  Option  for  Financial
Assets and Financial Liabilities - Including an amendment of FASB Statement No.
115" (hereinafter "SFAS No. 159"). This statement permits entities to choose to
measure  many financial instruments and certain other items at fair value.  The
objective  is  to  improve  financial  reporting by providing entities with the
opportunity to mitigate volatility in reported  earnings  caused  by  measuring
related  assets  and  liabilities  differently  without having to apply complex
hedge accounting provisions. This statement is expected  to  expand  the use of
fair  value  measurement,  which  is  consistent  with  the  Board's  long-term
measurement objectives for accounting for financial instruments. This statement
is  effective as of the beginning of an entity's first fiscal year that  begins
after November 15, 2007, although earlier adoption is permitted. Management has
not determined  the  effect  that  adopting  this  statement  would have on the
Company's financial condition or results of operations.


SFAS  141(R)  -  In  December  2007,  the  FASB  issued  SFAS 141(R), "Business
Combinations." This Statement replaces SFAS 141, "Business  Combinations,"  and
requires an acquirer to recognize the assets acquired, the liabilities assumed,
including   those   arising  from  contractual  contingencies,  any  contingent
consideration,  and  any   noncontrolling  interest  in  the  acquiree  at  the
acquisition date, measured at  their  fair values as of that date, with limited
exceptions specified in the statement.  SFAS  141(R) also requires the acquirer
in a business combination achieved in stages (sometimes  referred  to as a step
acquisition) to recognize the identifiable assets and liabilities, as  well  as
the  noncontrolling interest in the acquiree, at the full amounts of their fair
values  (or  other  amounts  determined  in  accordance  with  SFAS 141(R)). In
addition, SFAS 141(R)'s requirement to measure the noncontrolling  interest  in
the acquiree at fair value will result in recognizing the goodwill attributable
to  the  noncontrolling  interest  in  addition  to  that  attributable  to the
acquirer.  SFAS  141(R) amends SFAS No. 109, "Accounting for Income Taxes,"  to
require the acquirer  to  recognize  changes  in the amount of its deferred tax
benefits  that  are recognizable because of a business  combination  either  in
income from continuing  operations in the period of the combination or directly
in contributed capital, depending on the circumstances.
                                      F-9
It also amends SFAS 142,  "Goodwill  and  Other  Intangible  Assets," to, among
other  things, provide guidance on the impairment testing of acquired  research
and development  intangible  assets and assets that the acquirer intends not to
use.

SFAS  141(R) applies prospectively  to  business  combinations  for  which  the
acquisition  date  is  on  or after the beginning of the first annual reporting
period beginning on or after  December 15, 2008.  Management has not determined
the effect that adopting this statement  would  have on the Company's financial
condition or results of operations.

SFAS  160  -  In  December  2007,  the  FASB issued SFAS  160,  "Noncontrolling
Interests in Consolidated Financial Statements."  SFAS  160  amends  Accounting
Research   Bulletin  51,  "Consolidated  Financial  Statements,"  to  establish
accounting and  reporting  standards  for  the  noncontrolling  interest  in  a
subsidiary  and for the deconsolidation of a subsidiary. It also clarifies that
a noncontrolling  interest  in  a  subsidiary  is  an ownership interest in the
consolidated  entity  that  should be reported as equity  in  the  consolidated
financial statements. SFAS 160  also  changes  the  way the consolidated income
statement is presented by requiring consolidated net  income  to be reported at
amounts  that  include  the  amounts  attributable to both the parent  and  the
noncontrolling  interest. It also requires  disclosure,  on  the  face  of  the
consolidated statement  of  income,  of  the amounts of consolidated net income
attributable  to  the  parent  and  to the noncontrolling  interest.  SFAS  160
requires that a parent recognize a gain or loss in net income when a subsidiary
is  deconsolidated  and  requires  expanded  disclosures  in  the  consolidated
financial  statements  that  clearly  identify   and  distinguish  between  the
interests of the parent owners and the interests of  the  noncontrolling owners
of a subsidiary. SFAS 160 is effective for fiscal periods,  and interim periods
within those fiscal years, beginning on or after December 15, 2008.  Management
has not determined the effect that adopting this statement would  have  on  the
Company's financial condition or results of operations.



<PAGE> F-10
                             FRONTIER ENERGY CORP.
                       (AN EXPLORATION STAGE ENTERPRISE)
                         NOTES TO FINANCIAL STATEMENTS
                          DECEMBER 31, 2007 AND 2006


NOTE  4  -  MINERAL RIGHTS

On  January  19,  2005,  the  Company entered into an Assignment and Assumption
Agreement ("Agreement") with a Company that holds and Option Purchase Agreement
("Contract") for purchase and sale of property in British Columbia, Canada.  In
consideration for the Agreement,  the  Company  issued  246,461 (9,858,434 pre-
split) shares of common stock valued at $80,000.   On  January   22,  2005, the
registrant acquired the 100% interest in a copper, gold and  platinum   mineral
prospect   (the  "Property").   The  Property  consists  of 20 claim  units  in
central British Columbia, Canada approximately 45 miles east of Williams  Lake.
The  Property  is  located  in  the  central Quesnel Trough  and  adjoins   the
south   border  of Imperial Metals', Mount Polley copper/gold mine.  Due to the
Company's  change  of business direction and decision to not renew the required
annual 2006 fees for  maintaining  these  claims,  the  Company has recorded an
$80,000 loss on impairment of mineral claims in 2005.

On  October  12,  2005,  the  Company  entered  into an agreement  with  Angels
Exploration  Fund,  Inc. (Angel's).  The October 12  agreement  agreed  to  pay
5,000,000 in restricted  shares  for  the  funding of test wells on property in
Alberta, Canada.  An additional 100,000 restricted  shares  are  deliverable if
the  first test well is taken to completion.  If Angel's is unable  to  provide
$1,000,000 in financing costs within 90 days of the agreement, 4,500,000 of the
shares will be cancelled.  If Angel's is unable to provide $2,000,000 within 90
days of  the  agreement, the Company will have the right to cancel 2,500,000 of
the shares.   Under  the  agreement,  the  Company  acquired  an eighty percent
working interest from Angels undivided 100 percent working interest, subject to
a 10 percent gross overriding royalty.

On  October  25,  2005, the Company and Angel's entered into an agreement  with
1097855 Alberta, Ltd.  to  drill  test  wells on property that 1097855 Alberta,
Ltd. has title interest.  Development is  to  begin  prior  to  July  30, 2006.
Under  the  agreement, the Company could earn a ninety percent working interest
from the undivided 100 percent working interest that 1097855 Alberta Ltd. owns,
subject to a  15 percent gross overriding royalty. Angel Exploration was unable
to raise the necessary  capital  to  complete  the  drilling  program  and  the
agreement  between  Angel  Exploration  and  Frontier  energy  was subsequently
cancelled.

On  March  31,  2006,  no  additional  exploration  had been performed  on  the
agreements and the Company agreed to cancel the agreements.

In  December 2006, the Company paid $10,905 to lease 640  acres  in  the  Rocky
Mountain  range  located in the state of Montana for a 10 year term.  Annually,
the mineral rights are tested for impairment.

NOTE  5  -  RELATED  PARTY  TRANSACTIONS

Due to Related Parties  - Due to related parties at December 31,  2007 and 2006
totaling  $0 and $446, respectively  consisted   of  working  capital  advances
from  the  Company's  stockholders.   The  advances  are  non-interest bearing,
unsecured and due on demand.

During  2006 the President of the company received 40,000 shares  of  Series  B
preferred  stock  for  services.   Each Series B preferred share has the voting
rights of 1,000 shares of common stock.   Valuation  of  $40,400 was based upon
the weighted average stock price of $1.01 for the 5 trading  days preceding the
issuance of the shares.


<PAGE> F-11
                             FRONTIER ENERGY CORP.
                       (AN EXPLORATION STAGE ENTERPRISE)
                         NOTES TO FINANCIAL STATEMENTS
                          DECEMBER 31, 2007 AND 2006


NOTE  6  -  INCOME  TAXES

The  Company  did  not  record  any  current or deferred income  tax  provision
or benefit  for  any  of  the  periods  presented  due to continuing net losses
and nominal  differences.

The   Company   has  provided  a  full  valuation allowance on the deferred tax
asset, consisting  primarily  of net operating  losses,  because of uncertainty
regarding its realizability.

As  of  December 31, 2007 and 2006, the Company had a net  operating loss carry
forward of approximately  $2,722,000 and $2,412,000 respectively  for   federal
income  tax  purposes  to offset future taxable  income,  if  any.  Utilization
of  the  net operating loss carry forward, which will expire in various periods
through 2026,  may  be subject to certain limitations  under Section 382 of the
Internal Revenue Code  of  1986, as amended, and  other limitations under state
and foreign tax laws.  To the extent that net operating losses of approximately
$2,700,000,  when  realized,  relate  to  stock  options   and   warrants,  the
resulting benefits will be credited to stockholders' equity.

Deferred   income   taxes   reflect    the    net   tax  effects  of  temporary
differences  between   the   carrying  amounts of assets  and  liabilities  for
financial reporting purposes and the amounts  used for income tax purposes.  As
of  December  31,  2007 and 2006 the significant components  of  the  Company's
deferred tax assets are approximately as follows:

                                                    2007          2006
						__________    ___________

  Net operating loss                   		$2,722,000    $2,412,000)

  Stock based compensation    			 4,428,000     2,573,000
						__________    ___________

                                           	$7,150,000    $4,985,000
						==========    ===========


  Deferred tax asset at 35%            		$2,500,000    $1,745,000

Valuation allowance for deferred tax assets	(2,500,000)   (1,745,000)
						__________    ___________


       Net deferred tax assets             	$      --     $       --
						==========    ===========


NOTE  7  -  STOCKHOLDERS'  EQUITY

Preferred  Stock  -

The  Company's  articles   of  incorporation authorize up to 100,000,000 shares
of $0.001 par value Common stock.  Shares  of  common stock may  be  issued  in
one   or  more  classes  or  series  at  such time as the  Board  of  Directors
determine.

During  fiscal  2000, the Board of Directors  designated  1  share  of Series A
preferred stock ("Preferred A"). Each share of Preferred A is convertible  into
common stock at a rate of $10.00 per share, subject to future  adjustments,  as
defined.   As   of  December 31, 2007, the Company has 1 share of Preferred   A
issued  and  outstanding.



<PAGE> F-12
                             FRONTIER ENERGY CORP.
                       (AN EXPLORATION STAGE ENTERPRISE)
                         NOTES TO FINANCIAL STATEMENTS
                          DECEMBER 31, 2007 AND 2006


NOTE  7  -  STOCKHOLDERS'  EQUITY (CONTINUED)

During  fiscal  2000,  the  Board of Directors had designated 130,000 shares of
Series  B 7% convertible preferred  stock  ("Preferred  B").  Each  Preferred B
share has  a  liquidation preference of $10.00 per share plus accrued dividends
and  is  convertible   at  anytime  into  such  number  of  fully paid and non-
assessable  shares  of   common  stock  as  is  determined  by dividing  $10.00
plus the amount of any accrued   and  unpaid  dividends by the conversion price
of $10.00 at the time of  conversion,   subject   to   future  adjustments,  as
defined. The Preferred B shares are  automatically converted in the event of an
effective  registration  statement  filing   or   and  affirmative  vote of the
preferred holders voting as a separate class.

On May 31, 2006, the Company issued 40,000 shares of Class B preferred stock to
the  Chairman,  Robert  Genesi  in exchange for his services.    The  preferred
shares carry voting rights of 1,000 votes per share.

During 2007, the Company issued 40,000 shares of Preferred B stock for $10,000.
As  of  December  31,  2007 and 2006,  80,000  and 40,000 shares, respectively,
of Preferred B were issued or outstanding.

Common  Stock  -

During   2004,  the  Company  issued 500 shares of its  common  stock   to  its
President   as a result of options  that  were  exercised.   The  options  were
granted as a result of options previously granted and exercised in 2003 with an
exercise price   of   $0.20.   The   Company  had  elected  to  re-price  those
previously  granted  and   exercised   options   from   $0.20   to  $0.10 which
resulted  in  the additional issuance  of  options  for  500 shares  of  common
stock.  The re-pricing and additional  issuance  of  such  options has resulted
in an expense to Company of approximately  $20,000  which  has  been  reflected
in  2005.

On July 27, 2005, the Company authorized a name change to Frontier Energy Corp.
and changed the  authorized  shares  to  100,000,000  shares  with par value of
$0.001 per share.  The Company also approved a 1-for -40 reverse stock split of
its   common  stock.   Accordingly,  the  accompanying  consolidated  Financial
Statements  have  been retroactively adjusted as if the reverse stock split had
occurred at the Company's inception.

Pursuant to the upset provision in the Angel's Agreement that was signed by the
Company on October  12,  2005, the Company cancelled 4,500,000 of the 5,000,000
shares issued to Mr. Jeffrey A. Cocks in March 2006.  The remaining shares were
accounted for by the Company as a finder's fee for the agreement.

During 2006, consultants to  the  Company  exercised options to acquire 500,000
shares of common stock at par value.  The consultants  paid for the exercise by
reducing accounts payable owed by the Company.

During   2006,  the Company issued 2,000,000 shares for stock  compensation  to
officers of the Company  on  February 17, 2006.  The employment agreements vest
the shares over a 24 month period  beginning with the date of issue.  Valuation
was based upon the weighted average stock price of $1.02 for the 5 trading days
preceding the issuance of the shares.   The compensation is being expenses on a
monthly  basis  as the shares vest.  For the  year  ended  December  31,  2006,
428,837 shares of  stock  under  the  employment  agreements have vested to the
officers, at an expense of $437,750.

On April 5, 2006, the Registrant's Board of Directors terminated the employment
contracts  of  Jeffery Cocks as the Registrant's Chief  Operating  Officer  and
Kevin Tattersall  as the Registrant's Chief Exploration Officer. The Registrant
has not appointed successors  to  either  position.   The Registrant terminated
these  contracts  as  part  of  a  re-evaluation  of  the  Registrant's  entire
management team and overhead expenses and should not be construed as a negative
judgment   on  Messrs.  Cocks  and  Tattersall.   Pursuant  to  the  agreement,
termination of employment without cause obligates the Company to pay two months
of the officers'  salaries,  totaling $8,000 to each officer.  Two certificates
for 1,300,000 shares were returned  to  the  transfer agent and cancelled.  New
certificates for the vested shares were issued by the Company upon cancellation
of the original certificates.  Each officer received new certificates of 54,000
vested shares valued at $55,250.

<PAGE> F-13


                             FRONTIER ENERGY CORP.
                       (AN EXPLORATION STAGE ENTERPRISE)
                         NOTES TO FINANCIAL STATEMENTS
                          DECEMBER 31, 2007 AND 2006

The share certificate for 700,000 shares issued to the remaining officer of the
Company  is  being  held  by  the Company.   The shares  for  the  officer  are
considered contingently issuable  shares,  and thus are included in EPS only as
they  are vested over the two year vesting period.   The  unvested  shares  are
reported  as  "Common stock issued for future services on employment agreement"
as a contra equity account on the balance sheet.

In February  2006, the Registrant commenced an offering under Regulation S (the
"Offering"), solely to non-US persons located outside of the United States.  On
April 5, 2006,  before  accepting  any subscriptions or funds from investors in
the Offering, the Registrant cancelled the Offering and requested the return of
all offering materials

On April 5, 2006, the Company issued  50,000,000 shares of common stock to Sol-
Terra Energy, Inc. in exchange for all  of  Sol-Terra's assets, which include a
substantial interest in gas-bearing property in Alberta.   The Company has held
the  stock  certificate pending valuation of the  assets  and  closing  of  the
transaction.   The  Company  will record the transaction upon completion of the
asset valuation.  Due to the Company's  possession  of  the  certificate, it is
deemed un-issued and not outstanding.  On October 16, 2006, failing  to receive
an  appraisal for the assets of Sol-Terra, the Company cancelled the 50,000,000
share certificate and terminated the April 5, 2006 agreement.

On July  6,  2006, the Registrant commenced an offering under Regulation S (the
"Offering"), solely  to  non-US  persons  located outside of the United States.
Terms of the agreement were to raise up to  $2,000,000 by sale of common shares
at a per share purchase price equal to 40% of  the  previous  day's  last trade
price,  as  traced  on  the  Other the Counter Bulletin Board.  The sales agent
received  10% of the proceeds.  Through  December  31,2006,  the  Company  sold
939,858 shares for net $185,073.

On July 28,  2006,  309,000  options  were  exercised  at  $0.001 for $309.  On
September  5,  2006,  50,000  options  were  exercised at $0.001 for  $50.   On
September 13, 2006, 75,000 options were exercised at $0.001 for $75.

During  the  year  ended December 31, 2007, consultants  to  the  Company  were
compensated with 35,970,000  shares  in exchange for consulting services valued
at $1,382,400.  The valuation of the shares was determined by the closing price
per share as of the measurement date.   The Company incurred consulting expense
related  to  the  issuance  of  shares  of  $1,371,400  net  of  prepaid  stock
compensation totaling $11,000 at December 31, 2007.

   * January  9,  2007, the Company entered  into  that  certain  consultant
   agreement  with Crescent  Fund  LLC  ("Crescent  Fund")  pursuant  to  which
   Crescent Fund  agreed  to provide certain investor relations services to the
   Company and the Company  agreed  to  issue  to Crescent Fund an aggregate of
   500,000 shares of common stock valued at $0.20 per share.


   * On January 24, 2007, the Company entered into  that verbal certain
   consultant  agreement with Coast 2 Coast Investments LLC ("Coast 2  Coast"),
   pursuant to which Coast 2 Coast agreed to provide certain investor relations
   services to   the  Company and the Company agreed to issue to Coast to Coast
   an  aggregate of  100,000  shares of common stock valued at $0.25 per share.
   On February  1, 2007,  a  further  500,000  shares  were  granted  valued at
   $0.40  per  share  On  March  20, 2007,  a  further  500,000   shares of the
   Company's common stock were issued to Coast 2 Coast pursuant to  contractual
   agreement  relating  to  the  successful   results   of   Coast   2  Coast's
   services provided to the   Company  valued  at $0.20 per share.  On June  6,
   2006,  the  500,000  shares valued at $0.40 were subsequently  cancelled and
   returned to treasury. The value of shares is presented net of canceled
   shares.

<PAGE> F-14

                             FRONTIER ENERGY CORP.
                       (AN EXPLORATION STAGE ENTERPRISE)
                         NOTES TO FINANCIAL STATEMENTS
                          DECEMBER 31, 2007 AND 2006



NOTE  7  -  STOCKHOLDERS'  EQUITY (CONTINUED)


   * On  February  5,  2007, the Company entered into that certain corporate
   consulting agreement with  Sam  Aiello  ("Aiello"), pursuant to which Aiello
   agreed to provide certain services including  sourcing of viable oil and gas
   prospects  and  properties  and  re-designing  and deploying  the  Company's
   website and current corporate marketing data and the Company agreed to issue
   to Aiello an aggregate of 400,000 shares of common stock valued at $0.40 per
   share. On May 17, 2007, a further 220,000 shares  of  the  Company's  common
   stock valued at $.08 per share were issued to Aiello pursuant to contractual
   agreement  relating  to the successful results of Aiello's services provided
   to the Company.


   * On February 5, 2007,  the  Company  entered into that certain corporate
   consulting  agreement with Jeffrey D. Cox ("Cox"),  pursuant  to  which  Cox
   agreed to provide  certain  consulting services including sourcing of viable
   oil and gas prospects and properties  and  re-designing  and  deploying  the
   Company's  website  and  current  corporate  marketing  data and the Company
   agreed to issue to Cox an aggregate of 400,000 shares of common stock valued
   at $0.40 per share.


   * On  March  15,  2007,  the Company entered into that certain  corporate
   consulting agreement with Larry  Taylor ("Taylor"), pursuant to which Taylor
   agreed to provide certain services  including sourcing of viable oil and gas
   prospects and negotiating with Excessior  Oil,  a  private  company with tar
   sands  in Fort Murray, regarding a contractual arrangement and  the  Company
   agreed to  issue  to  Taylor  an aggregate of 200,000 shares of common stock
   valued at $0.20 per share.


   * On April 2, 2007, the Company  entered  into  that  certain  consulting
   agreement  with  William Tyler Dillerson ("Dillerstone"), pursuant to  which
   Dillerstone agreed  to  provide  certain  services including web development
   services  and the Company agreed to issue to  Dillerstone  an  aggregate  of
   500,000 shares of common stock valued at $0.14 per share.


   * On May  1,  2007,  the  Company  entered  into  that  certain corporate
   consulting  agreement  with  Curtiss  Parker ("Parker"), pursuant  to  which
   Parker agreed to provide certain services  including  sourcing of viable oil
   and  gas  prospects  and  properties  and  re-designing  and  deploying  the
   Company's  website  and  current  corporate  marketing data and the  Company
   agreed to issue to Parker an aggregate of 1,500,000  shares  of common stock
   valued at $0.08 per share.


   * On  May  1,  2007,  the  Company  entered  into that certain verbal
   consultant  agreement  with  Semso Rekic ("Rekic"), pursuant to  which Rekic
   agreed  to  provide  certain   investor  relations  services and the Company
   agreed to  issue  to  Rekic  an aggregate  of  50,000 shares of common stock
   valued at $0.08 per share.


   * On  May  24, 2007, the Company  entered  into  that  certain  corporate
   consulting agreement  with  Bart  Lawrence  ("Lawrence"),  pursuant to which
   Lawrence agreed to provide certain services including sourcing of viable oil
   and gas prospects and properties, assisting in the development  of  business
   plans  and providing to the Company an extensive client list and the Company
   agreed to  issue  to Lawrence an aggregate of 300,000 shares of common stock
   valued at $0.05 per share. On June 11, 2007, a further 600,000 shares of the
   Company's common stock  valued  at  $0.05  per share were issued to Lawrence
   pursuant  to contractual agreement relating to  the  successful  results  of
   Lawrence's  services  provided to the Company. On August 17, 2007, a further
   1,000,000 shares of the  Company's  common  stock valued at $0.016 per share
   were issued to Lawrence pursuant to contractual  agreement  relating  to the
   successful results of Lawrence's services provided to the Company.


<PAGE> F-15
                             FRONTIER ENERGY CORP.
                       (AN EXPLORATION STAGE ENTERPRISE)
                         NOTES TO FINANCIAL STATEMENTS
                          DECEMBER 31, 2007 AND 2006


NOTE  7  -  STOCKHOLDERS'  EQUITY (CONTINUED)

   * On June 1, 2007, the Company entered into that certain verbal agreement
  with Ken Raina ("Raina"), pursuant to termination of service  as board member
  and  the Company agreed to issue to Raina an aggregate of 200,000  shares  of
  common stock valued at $0.08 per share.


   * On June 1, 2007, the Company entered into that certain verbal agreement
  with Laurie Bloom ("Bloom"), pursuant to which Bloom agreed to provide office
  space  for  the  Company's  use  and  the Company agreed to issue to Bloom an
  aggregate of 150,000 shares of common stock valued at $0.08 per share.


   * On  June  1,  2007, the Company entered into  that  certain  verbal
   consultant agreement with Mark  Genesi  ("Genesi"), pursuant to which Genesi
   agreed  to  provide certain investor relations services  to  the Company and
   the  Company  agreed  to issue to Genesi an aggregate of 150,000  shares  of
   common  stock valued at $0.08 per share.


   * On  July  30,  2007,  the  Company  entered into that certain corporate
   consulting agreement with Scott Burnim ("Burnim"),  pursuant to which Burnim
   agreed to provide certain services including sourcing  of viable oil and gas
   prospects and properties, re-designing current corporate  marketing data and
   providing to the Company an extensive client list and the Company  agreed to
   issue  to Burnim an aggregate of 1,000,000 shares of common stock valued  at
   $0.012 per share.


   * On  August  8,  2007,  the Company entered into that certain consulting
   agreement with Kristin Anez ("Anez"),  pursuant  to  which  Anez  agreed  to
   provide  certain  financial advisory and consulting services with respect to
   matters related to the development of the Company's business plan, including
   portfolio review, comprehensive  business  planning, business valuation, aid
   in  organizational  strategies,  management consulting,  and  individualized
   financial performance optimization,  and the Company agreed to issue to Anez
   an aggregate of 1,000,000 shares of common  stock valued at $0.01 per share.
   On October 30, 2007, a further 500,000 shares  of the Company's common stock
   valued  at  $0.01  per  share  were issued to Anez pursuant  to  contractual
   agreement relating to the successful  results of Anez's services provided to
   the Company.


   * On September 5, 2007, the Company  entered  into that certain corporate
   consulting  agreement with Jamie Gomez ("Gomez"), pursuant  to  which  Gomez
   agreed to provide  certain services including sourcing of viable oil and gas
   prospects and properties,  assisting  in  the  development  of  website  and
   current marketing data and providing to the Company an extensive client list
   and the Company agreed to issue to Gomez an aggregate of 1,000,000 shares of
   common stock valued at $0.007 per share.


   * On  September  5, 2007, the Company entered into that certain corporate
   consulting agreement  with  Reba Duggan ("Duggan"), pursuant to which Duggan
   agreed to provide certain services  including sourcing of viable oil and gas
   prospects  and  properties, assisting in  the  development  of  website  and
   current marketing data and providing to the Company an extensive client list
   and the Company agreed  to  issue to Duggan an aggregate of 1,000,000 shares
   of common stock valued at $0.007 per share.


   * On September 5, 2007, the  Company  entered into that certain corporate
   consulting agreement with Scott Belazi ("Belazi"),  pursuant to which Belazi
   agreed to provide certain services including sourcing  of viable oil and gas
   prospects  and  properties,  assisting  in  the development of  website  and
   current marketing data and providing to the Company an extensive client list
   and the Company agreed to issue to Belazi an  aggregate  of 1,000,000 shares
   of common stock valued at $0.007 per share.


<PAGE> F-16
                             FRONTIER ENERGY CORP.
                       (AN EXPLORATION STAGE ENTERPRISE)
                         NOTES TO FINANCIAL STATEMENTS
                          DECEMBER 31, 2007 AND 2006


NOTE  7  -  STOCKHOLDERS'  EQUITY (CONTINUED)

   * On September 24, 2007, the Company entered into that certain consulting
   agreement with Mark Brummell ("Brummell"), pursuant to which Brummell agreed
   to provide certain advisory and consulting services with respect  to matters
   related  to  the  development  of  the  Company's  business  plan, including
   portfolio  review, comprehensive business planning, business valuation,  aid
   in organizational  strategies,  management  consulting,  and  individualized
   financial  performance  optimization,  and  the  Company agreed to issue  to
   Brummell an aggregate of 6,000,000 shares of common  stock  valued at $0.012
   per share.


   * On September 24, 2007, the Company entered into that certain consulting
   agreement with Phillip Russell ("Russell"), pursuant to which Russell agreed
   to provide certain advisory and consulting services with respect  to matters
   related  to  the  development  of  the  Company's  business  plan, including
   portfolio  review, comprehensive business planning, business valuation,  aid
   in organizational  strategies,  management  consulting,  and  individualized
   financial  performance  optimization,  and  the  Company agreed to issue  to
   Russell an aggregate of 3,000,000 shares of common  stock  valued  at $0.012
   per share.


   * On  October  15, 2007, the Company entered into that certain consulting
   agreement with Allison  Nigro  ("Nigro"),  pursuant to which Nigro agreed to
   provide certain advisory and consulting services  with  respect  to  matters
   related  to  the  development  of  the  Company's  business  plan, including
   portfolio  review, comprehensive business planning, business valuation,  aid
   in organizational  strategies,  management  consulting,  and  individualized
   financial performance optimization, and the Company agreed to issue to Nigro
   an aggregate of 1,000,000 shares of common stock valued at $0.017 per share.


   * On  October 15, 2007, the Company entered into that certain  verbal
   consulting agreement  with  Paul  Short  ("Short"),  pursuant to which Short
   agreed to provide  certain advisory and consulting services with  respect to
   matters related  to  the  development   of  the  Company's  business   plan,
   including  portfolio  review,  comprehensive  business  planning,   business
   valuation,  aid in organizational  strategies,  management  consulting,  and
   individualized financial performance optimization, and the Company agreed to
   issue  to  Short  an aggregate of 1,000,000 shares of common stock valued at
   $0.08 per share.


   * On  October 15, 2007, the Company entered into that certain verbal
   consulting agreement  with Roddy Duggan ("Duggan"), pursuant to which Duggan
   agreed to provide certain advisory   and  consulting  services  with respect
   to matters related  to  the  development  of  the  Company's  business plan,
   including  portfolio  review,   comprehensive  business  planning,  business
   valuation,  aid in  organizational  strategies,  management  consulting, and
   individualized financial  performance  optimization,  and the Company agreed
   to  issue  to Duggan an aggregate of 1,000,000 shares of common stock valued
   at $0.08 per share.


   * On October 30, 2007, the Company entered  into  that certain consulting
   agreement  with Alison Burnim ("Burnim"), pursuant to which  Burnim agreed to
   provide   certain   advisory and consulting services with respect  to matters
   related  to   the  development   of the  Company's  business  plan, including
   portfolio  review,  comprehensive business    planning,   business valuation,
   aid    in    organizational    strategies,   management     consulting,   and
   individualized  financial  performance  optimization,  and the Company agreed
   to  issue  to  Burnim an aggregate of 1,500,000 shares of common stock valued
   at  $0.01 per share.


   * On  November 28, 2007, the Company entered into that certain consulting
   agreement with John Williams ("Williams"), pursuant to which Williams agreed
   to provide  certain advisory and consulting services with respect to matters
   related to the  development  of  the  Company's  portfolio  of  oil  and gas
   properties  and  the  Company  agreed  to  issue to Williams an aggregate of
   1,000,000 shares of common stock valued at $0.003 per share.

<PAGE> F-17

                             FRONTIER ENERGY CORP.
                       (AN EXPLORATION STAGE ENTERPRISE)
                         NOTES TO FINANCIAL STATEMENTS
                          DECEMBER 31, 2007 AND 2006

NOTE  7  -  STOCKHOLDERS'  EQUITY (CONTINUED)

   * On November 28, 2007, the Company entered  into that certain consulting
   agreement  with  Gil  Whyte  ("Whyte"), pursuant to which  Whyte  agreed  to
   provide certain advisory and consulting  services  with  respect  to matters
   related  to  the  development  of  the  Company's  business  plan, including
   portfolio  review, comprehensive business planning, business valuation,  aid
   in organizational  strategies,  management  consulting,  and  individualized
   financial performance optimization, and the Company agreed to issue to Whyte
   an aggregate of 2,500,000 shares of common stock valued at $0.003 per share.


   * On November 28, 2007, the Company entered into that certain  consulting
   agreement with Rick Shykora ("Shykora"), pursuant to which Skykora agreed to
   provide  certain  advisory  and  consulting services with respect to matters
   related  to  the  development  of the  Company's  business  plan,  including
   portfolio review, comprehensive  business  planning, business valuation, aid
   in  organizational  strategies,  management consulting,  and  individualized
   financial performance optimization,  and  the  Company  agreed  to  issue to
   Shykora  an  aggregate  of 2,500,000 shares of common stock valued at $0.003
   per share.


   * On December 5, 2007,  the  Company entered into that certain consulting
   agreement with Daniel R. Davison  ("Davison"),  pursuant  to  which  Davison
   agreed  to provide certain advisory and consulting services with respect  to
   matters related to the development of the Company's business plan, including
   portfolio  review,  comprehensive business planning, business valuation, aid
   in  organizational strategies,  management  consulting,  and  individualized
   financial  performance  optimization,  and  the  Company  agreed to issue to
   Davison  an aggregate of 1,000,000 shares of common stock valued  at  $0.004
   per share.


   * On December  5,  2007, the Company entered into that certain consulting
   agreement with Peter Kolacz  ("Kolacz"),  pursuant to which Kolacz agreed to
   provide certain advisory and consulting services  with  respect  to  matters
   related  to  the  development  of  the  Company's  business  plan, including
   portfolio  review, comprehensive business planning, business valuation,  aid
   in organizational  strategies,  management  consulting,  and  individualized
   financial  performance  optimization,  and  the  Company agreed to issue  to
   Kolacz an aggregate of 3,000,000 shares of common stock valued at $0.017 per
   share.

   * On December 20, 2007, the Company entered into  that certain consulting
   agreement  with Kenneth P. Bottoms ("Bottoms"), pursuant  to  which  Bottoms
   agreed to provide  certain  oil  and  gas  prospects  for the Company in oil
   industry matters and the Company agreed to issue to Bottoms  an aggregate of
   200,000 shares of common stock valued at $0.325 per share.

During  fiscal ear ended December 31, 2007 and including the shares  issued  to
Robert Genesi,  we  issued an aggregate of 1,200,000 shares of our common stock
to certain of our officers/directors  as compensation for services. On February
1, 2007, April 2, 2007, June 11, 2007,  October 31, 2007 and November 14, 2007,
an aggregate of 150,000 valued at $0.4 per  share,  50,000  valued at $0.14 per
share,  900,000  valued  at $0.025, and 8,900,000 shares of common  stock  were
issued to Robert Genesi as  compensation for services rendered related to there
role as a director of the Company.  On  November 14, 2007, the 8,900,000 shares
of common stock were subsequently cancelled  and  returned  to  treasury.   The
value  of  the share is presented net of canceled shares. An additional 100,000
shares of common  stock  valued  at  $0.1  were issued to Don Hwang as director
compensation.

During the year ended December 31, 2007, securities  counsel to the Company was
compensated with 100,000 shares in exchange for legal  services.  50,000 shares
were valued at $.40 per share the other 50,000 were valued  at  $0.14 per share
determined  by  the  date  the shares were granted. The Company incurred  legal
expense related to the issuance of shares of $27,000.


<PAGE> F-18
                             FRONTIER ENERGY CORP.
                       (AN EXPLORATION STAGE ENTERPRISE)
                         NOTES TO FINANCIAL STATEMENTS
                          DECEMBER 31, 2007 AND 2006


NOTE  7  -  STOCKHOLDERS'  EQUITY (CONTINUED)

On March 29, 2007, 100,000 options  granted  to  Malcolm  Albert for consulting
services were exercised at $0.15 for $15,000 in cash proceeds.

Stock  Options -

In  February  2000, the Company's Board of Directors and majority  shareholders
approved and adopted  the  Frontier  Energy Corp., fka GT Data Corporation 2000
Stock Option Plan ("the  2000  plan"). As amended, a total of 333,333 shares of
common stock are reserved for issuance  under the 2000 plan. The exercise price
for each option shall  be  equal to 100%  to  110%  of the fair market value of
the  common  stock  on  the  date  of grant, as defined. The  2000  plan  shall
terminate ten years after its adoption  by  the  Board  of  Directors  and  may
be terminated by the Board of Directors  on  any  earlier  date,  as  defined.

In   March   2001,   the   Company's   Board    of    Directors   and  majority
shareholders  approved   and   adopted the Frontier Energy Corp., fka  GT  Data
Corporation 2001 Stock Option Plan  ("the  2001  plan").  A  total of 4,500,000
shares of common stock are reserved for issuance under   the   2001   plan. The
exercise price for each option shall be no less than 100%  to 110% of the  fair
market  value of the common stock on the date of grant, as  defined.  The  2001
plan shall  terminate  ten years after its adoption by the Board  of  Directors
and  may  be  terminated   by  the Board of Directors on any earlier  date,  as
defined.

On March 15, 2007, the Company entered  into  that certain corporate consulting
agreement with Malcolm Albert ("Albery"), pursuant  to  which  Albery agreed to
provide certain services including sourcing of viable oil and gas prospects and
properties, assisting in the development of business plans and providing to the
Company an extensive list and the Company agreed to grant 150,000 stock options
valued at $27,925 to Albert.  The options granted the rights to acquire 150,000
shares  of  the Company's Common stock at $0.15 per share.  The value  of  each
option were estimated  using the Black-Scholes option pricing model on the date
of grant  using  the  following   assumptions:   (i)   no  dividend yield, (ii)
average volatility  of 336%, (iii) weighted average risk free interest rate  of
approximately   4%   and  (iv)  average expected useful life of  3  years.  The
options value resulted  in  consulting expense of $27,925.   On March 29, 2007,
100,000 options were exercised at $0.15 for $15,000.

The  following is a status of  the  stock  options  outstanding at December 31,
2007 and 2006 and  the  changes  during  the  two  years  then  ended:

<TABLE>
<CAPTION>
<S><C><C>

                                               Years Ended December  31,
					_________________________________________
 				             2007  		      2006
					     ----		      ----
				       Weighted Average		Weighted Average
                                       Options    Price      	Options    Price
				       _______   ______	     	_______    _______
Outstanding, beginning of year          65,000   $ 4.00      	  65,000   $ 4.00
    Granted                            150,000     0.15    	 934,000     0.001
    Exercised                         (100,000)    0.15   	(934,000)    0.001
    Cancelled/Forfeited                     --       --       	      --       --
				       _______   ______	     	_______    ______

Outstanding, end of year               115,000   $ 2.33     	 65,000    $ 4.00
				       =======   ======		=======    ======

Exercisable, end of year               115,000   $ 2.33    	  65,000   $ 4.00
				       =======   ======		=======    ======
Weighted average fair
    value of options granted                     $ 2.33      		   $ 4.00
				       	         ======			   ======

</TABLE>

<PAGE> F19


                             FRONTIER ENERGY CORP.
                       (AN EXPLORATION STAGE ENTERPRISE)
                         NOTES TO FINANCIAL STATEMENTS
                          DECEMBER 31, 2007 AND 2006

NOTE  7  -  STOCKHOLDERS'  EQUITY (CONTINUED)

115,000  of  the  outstanding  options  at  December  31,  2007 have an average
exercise price $2.33 per share and average remaining contractual  life  of  3.5
years.  The  115,000 and 65,000 options  were exercisable during 2007 and 2006,
respectively.

Had   compensation   costs   for   the   Company's   2003  options  granted  to
employees  been  determined  under  SFAS  123, the minimum value of each option
would have  been estimated using the Black-Scholes  option pricing model on the
date  of grant  using  the  following  assumptions:  (i)   no  dividend  yield,
(ii) average volatility  ranging from 366% to 470%, (iii) weighted average risk
free interest  rate   of  approximately  4%  and  (iv)  average expected useful
life of 3 years.

During 2004, the re-priced  options  for  10,000  (400,000 pre-split) shares of
common  stock which were issued during 2003 from $0.20  to  $0.10  (pre-reverse
stock split) per share.  As a result of this re-pricing, the Company issued the
10,000 (400,000  pre-split) shares to two individuals: (1) the President of the
Company; and (2) shareholder  of  the  Company.  The Company recorded a $40,000
expense related to this re-pricing and subsequent issuance of common stock.

Warrants - From  time to time, the Company  issues warrants pursuant to various
consulting  agreements.  There were no warrants  granted  during  fiscal  years
ended 2007 and 2006.

The  following   represents  a  summary  of  warrants outstanding for the years
ended December  31,  2007  and  2006:


<TABLE>
<CAPTION>
<S><C><C>
                                               Years Ended December  31,
					_________________________________________
 				             2007  		      2006
					     ----		      ----
				       Weighted Average		Weighted Average
                                       Warrants   Price      	Warrants    Price
				       _______   ______	     	_______    _______
Outstanding, beginning of year          2,000    $50.00      	  2,000    $50.00
    Granted                                --        --       	     --        --
    Exercised                              --        --       	     --        --
    Cancelled/Forfeited                (2,000)    50.00       	     --        --
				       _______   ______	     	_______    ______

Outstanding, end of year                   --    $   --       	 2,000	   $50.00
				       =======   ======		=======    ======

Exercisable, end of year                   --    $   --       	 2,000	   $50.00
				       =======   ======		=======    ======
</TABLE>

All of the warrants outstanding at December 31, 2006 have an exercise price  of
$50.00  per  share  and  a  weighted  average remaining contractual life of 0.5
years.  All of the warrants are expired at December 31, 2007.

NOTE  8  -  SUBSEQUENT EVENTS

In  January  2008,  the  Company issued a total  of  6,100,000  shares  to  its
directors in exchange for conversion of debt.

In  February  2008,  the  Company  issued  5,000,000  shares  in  exchange  for
conversion of debt and 1,000,000 shares for services rendered.


<PAGE> F-20
                             FRONTIER ENERGY CORP.
                       (AN EXPLORATION STAGE ENTERPRISE)
                         NOTES TO FINANCIAL STATEMENTS
                          DECEMBER 31, 2007 AND 2006


NOTE  9  -  RESTATEMENT

<TABLE>
<CAPTION>
<S><C><C>
                                                     As Originally Filed            Adjustments                 Restated
						     ___________________	    ___________			________

Cash                                                              131                    15,533                    15,664
Prepaid Stock Compensation                                          -                    11,000                    11,000
Prepaid Stock Compensation on Employment Agreement                  -                    29,750                    29,750
Mineral Leases                                                  9,814                     1,091                    10.905
Accounts Payable and Accrued Expenses                         332,458                    92,425                   424,883
Loans Payable                                                 192,322                    23,985                   216,307
Additional Paid in Capital                                  6,631,034                 (133,408)                 6,497,626

Officer Compensation Expense                                  405,000                    88,900                   493,900
General & Administrative Expense                            1,740,009                 (232,931)                 1,507,078
Exploration & Development Expense                              59,500                    60,500                   120,000
Loss on Impairment of Mineral Claim                                 -                    40,000                    40,000
EPS - Common Stock                                             ($0.14)                        -                    ($0.14)

</TABLE>

The balances above were corrected due to various accounting errors.

Cash
The  Company did not record all of the  transactions  in  December  2007.   The
adjustments correct the balance.

Prepaid Stock Compensation
The Company  did  not  properly  record  all  of  the equity transactions.  The
Company signed several consulting agreements for periods  ranging  from  3  - 6
months.   The  adjustments  correct the amortization of the consulting services
over the requisite service period.

Mineral Leases
The Company recorded amortization  of  the mineral claims over the 10 year life
of the lease.  The adjustment was to reverse  the  amortization  to correct the
balance of the mineral leases.  The Company will test the assets for impairment
annually.

Accounts Payable and Accrued Expenses
The  Company  did  not  record  all of the transactions in December 2007.   The
adjustments correct the balance.

Loans Payable
The Company did not record all of  the  transactions  in  December  2007.   The
adjustments correct the balance.

Additional Paid in Capital
The  Company  did  not  properly  record  all  of the equity transactions.  The
adjustments correct the valuation of the consulting services.

Officer Compensation Expense
The  Company  did  not  properly  record all of the equity  transactions.   The
adjustments correct the valuation of the services.

NOTE  9  -  RESTATEMENT (CONTINUED)

General & Administrative Expense
The  Company did not properly record  all  of  the  equity  transactions.   The
adjustments correct the valuation of the services.

Exploration & Development Expense
The Company  did  not  properly  record  all  of  the equity transactions.  The
adjustments correct the terms of the agreement with a consultant.

<PAGE> F-21


ITEM 8.CHANGES  IN  AND  DISAGREEMENTS  WITH  ACCOUNTANTS   ON  ACCOUNTING  AND
            FINANCIAL DISCLOSURES

      The  auditor  for  the  Company  prior to March 7, 2006, was  De  Joya  &
Company.  The Company was notified that  De  Joya & Company decided to withdraw
from  the  Public  Company  Auditing Oversight Board  and  will  no  longer  be
performing public company audits. On March 7, 2006, the Company engaged De Joya
Griffith & Company, LLC as its  independent  registered  public accounting firm
to audit  the  Company's  financial statements.  The prior auditor  De  Joya  &
Company audited the Company's  financial  statements  for the fiscal year ended
December  31, 2004 and 2003. This firm's report on these  financial  statements
was modified  as  to  uncertainty  that  the  Company  will continue as a going
concern; other than this, the accountant's report on the  financial  statements
for the period neither contained an adverse opinion or a disclaimer of opinion,
nor  was  qualified  or  modified as to uncertainty, audit scope, or accounting
principles.

ITEM 8A.    CONTROLS AND PROCEDURES

      The Company maintains  "disclosure controls and procedures," as such term
is defined in Rule 13a-15(e) under  the  Securities  Exchange  Act of 1934 (the
"Exchange  Act"), that are designed to ensure that information required  to  be
disclosed in  its  Exchange  Act reports is recorded, processed, summarized and
reported within the time periods  specified  in  the  Securities  and  Exchange
Commission  rules  and  forms,  and  that  such  information is accumulated and
communicated to our management, including our Chief Executive Officer and Chief
Financial Officer, as appropriate, to allow timely decisions regarding required
disclosure.   We  conducted  an  evaluation  (the  "Evaluation"),   under   the
supervision and  with  the participation of our Chief Executive Officer ("CEO")
and Chief Financial Officer  ("CFO"),  of  the  effectiveness of the design and
operation of our disclosure controls and procedures  ("Disclosure Controls") as
of the end of the period covered by this report pursuant  to Rule 13a-15 of the
Exchange  Act.  The  evaluation  of  the  Company's  disclosure  controls   and
procedures  included  a  review  of  the  disclosure  controls' and procedures'
objectives,  design,  implementation  and  the  effect  of  the   controls  and
procedures on the information generated for use in this report. In  the  course
of  its evaluation, management sought to identify data errors, control problems
or acts  of  fraud  and  to confirm the appropriate corrective actions, if any,
including process improvements,  were  being  undertaken.  The  Company's Chief
Executive Officer and Chief Financial Officer concluded that, as  of the end of
the  period  covered  by  this  report,  the Company's disclosure controls  and
procedures  were  not  effective  and  were not  operating  at  the  reasonable
assurance level.

      It is the Company's responsibility and that of management to identify any
deficiencies  in  internal  controls  over  financial  reporting.  The  Company
discovered certain deficiencies in its internal control over financial reports,
which  resulted  in the restatement of its Balance  Sheets  and  Statements  of
Operations, Statements  of  Stockholders' Deficit  and Statement of Cash Flows,
respectively, at December 31, 2007 to properly reflect certain transactions. As
more fully described in the Company's  Annual  Report  on  Form 10-K for fiscal
year  ended  December 31, 2007, the Company reported that it had  identified  a
significant  deficiency  in  its  internal  control  over  financial  reporting
relating to its  recording  and  valuation  of consulting and executive officer
services. The deficiency was caused by the lack  of  an  understanding  of  the
valuation  of  such  issuances  of  stock for consulting and executive services
rendered. As a result, the Company concluded  that as of December 31, 2007, its
disclosure controls and procedures were not effective  at a reasonable level of
assurance based on the evaluation of these controls and  procedures required by
Exchange Act rules 13(a)-15(e) or 15(d)-15(e).

      As  a  result of the identified significant deficiency  and  subsequently
identified errors  related  to  the  recording  and  presentation of derivative
liabilities, the Company has taken actions to enhance its internal control over
financial reporting in an effort to prevent a recurrence  of  the  errors which
led  to  the  restatement  of  its  financial  statements.  The Company's Chief
Financial  Officer  and  our  independent  public  accountants  have  performed
research  and  an  investigation to gain a more thorough understanding  of  the
nature of the errors.  As  a  result  of  this  research and investigation, the
Company has modified its reporting checklists to improve its recording.

      As a result of the restatements of our financial  statements, the Company
has determined that such significant deficiency constituted a material weakness
in  its  internal  control  over financial reporting. Because  of  management's
research and subsequent correction  of  its  presentation  and recording of the
valuation  of  issuance  of  stock for services, the Company's Chief  Executive
Officer and Chief Financial Officer  concluded  that  the Company has corrected
this significant deficiency.

<PAGE> 22

      Moreover, the Company has implemented measures as  part  of  its internal
controls  to determine and ensure that information required to be disclosed  in
reports filed  under  the  Exchange Act are recorded, processed, summarized and
reported within the time periods  specified  in  the rules and forms including,
but not limited to, the following: (i) documentation  of  processes, performing
testing  and  reviewing  its  internal  control  over  financial  reporting  in
connection  with  our  assessment under Section 404 of the Sarbanes-Oxley  Act;
(ii)  evaluation and implementation  of  improvements  to  its  accounting  and
management  information  systems; and (iii) development and implementation of a
remediation  plan to address  any  perceived  deficiencies  identified  in  its
internal control  over  financial  reporting.  The  costs  of  these additional
measures  did  not  have a material impact on its future results or  operations
liquidity.

      Other than the  changes  related to the proper recording of the valuation
of issued shares of stock for services, there were no other substantial changes
in  the Company's  internal control  over  financial  reporting  identified  in
connection  with  the evaluation required by paragraph (d) of Rule 13a-15 under
the Exchange Act with  respect  to the fiscal year ended December 31, 2007 that
have materially affected, or are  reasonably  likely  to materially affect, its
internal control over financial reporting.

      Our  management,  including  our  CEO  and CFO, do not  expect  that  our
disclosure  controls and internal controls will  prevent  all  errors  and  all
fraud. A control system, no matter how well conceived and operated, can provide
only reasonable,  not  absolute,  assurance  that the objectives of the control
system are met. The Company's disclosure controls  and  procedures are designed
to provide reasonable assurance of achieving its objectives  and its certifying
officers have concluded that the Company's disclosure controls  and  procedures
are effective at a reasonable assurance level. Further, the design of a control
system  must  reflect  the  fact  that there are resource constraints, and  the
benefits of controls must be considered relative to their costs.

      Because of the inherent limitations in all control systems, no evaluation
of  controls  can  provide  absolute assurance  that  all  control  issues  and
instances  of fraud, if any, within  our  Company  have  been  detected.  These
inherent limitations  include  the  realities that judgments in decision-making
can be faulty, and that breakdowns can  occur  because  of  a  simple  error or
mistake.  Additionally, controls can be circumvented by the individual acts  of
some persons,  by  collusion  of  two or more people, or by management or board
override of the control. The design  of any system of controls also is based in
part upon certain assumptions about the  likelihood of future events, and there
can  be  no  potential  future  conditions;  over  time,  controls  may  become
inadequate because of changes in conditions, or  the  degree of compliance with
the policies or procedures may deteriorate. Because of the inherent limitations
in a cost-effective control system, misstatements due to  error  or  fraud  may
occur and not be detected.


ITEM 8A.    OTHER INFORMATION

      None.


<PAGE> 23


                                   PART III

ITEM 9.DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

      The names of our executive officers and directors, their ages as of April
15, 2007, and the positions currently held by each are as follows:


NAME		AGE	POSITION

Robert Genesi	69 	President, Chief Executive Officer,
			Principal Financial Officer and Director

Sam Aiello	46 	Director

      The  terms of each of the directors expires at the next annual meeting of
the stockholders,  the  date  for  which  has  not  been  set  by  the Board of
Directors.  The officers serve at the pleasure of the Board of Directors.

      All  directors  hold office until the next annual meeting of stockholders
and until their successors  have  been  duly  elected and qualified.  Directors
will  be  elected  at the annual meetings to serve  for  one-year  terms.   The
Company does not know  of  any  agreements  with  respect  to  the  election of
directors.   The Company has not compensated its directors for service  on  the
Board of Directors  of  Frontier  or  any  of its subsidiaries or any committee
thereof.   Any  non-employee  director  of  Frontier  or  its  subsidiaries  is
reimbursed for expenses incurred for attendance  at  meetings  of  the Board of
Directors  and  any  committee  of  the  Board  of  Directors, although no such
committee  has  been  established.   Each  executive  officer  of  Frontier  is
appointed by and serves at the discretion of the Board of Directors.

      None of the officers or directors of Frontier is  currently an officer or
director of a company required to file reports with the Securities and Exchange
Commission, other than Frontier.

      The business experience of each of the persons listed  above  during  the
past five years is as follows:

ROBERT GENESI, DIRECTOR, CHIEF EXECUTIVE OFFICER


      Mr.   Genesi  has in excess of 25 years of operating experience in senior
and corporate level positions  with  a  variety  of  major technology firms and
holds  five  patent designs.  Mr. Genesi was a co-founder  and  served  as  the
President and  CEO  of  GTDATA Corporation, which later became Frontier Energy,
from 1998 to 2008. Mr.  Genesi  served  as the President and CEO of DAS Devices
from 1997-1998 and raised over $54,000,000  in  financings  for  the company in
addition  to  selling  the  head  manufacturing  company  to  Applied Magnetics
Corporation.  From 1993 to 1996, Mr. Genesi was the President and  CEO of Rexon
Corporation.   During  his tenure at Rexon, Mr. Genesi was able to successfully
sell the company to Legacy  -  Canada.    Mr.  Genesi  was President and COO of
 Read-Rite Corporation from 1987 to 1993.From 1986 to 1987  Mr.  Genesi  did  a
successful  turnaround  on  Tecmar a computer peripheral Co. In 1984 to 1986 Mr
Genesi  was a  member  of  the  start   up   team   and President  and  COO  of
Integrated Power Semiconductor Co in  Scotland ,    where  Mr Genesi helped the
CEO  to  raise  $56,000,000.From  1979  to 1984 Mr Genesi did a sucessful  turn
around on Silicon General as President and  COO.  Mr   Genesi worked at Sprague
Electric Co from 1962 to 1979.as a semiconductor Engineer.  Mr. Genesi has been
involved  in  many  different  areas  during his career, including  production,
finance, marketing, and human resources. Mr. Genesi is an engineer by training.


SAM AIELLO, DIRECTOR

      Mr. Sam Aiello was elected as a director  to  fill  a  vacant seat on the
Company's  Board of Directors in November 2007.  Mr. Aiello has  more  than  20
years of experience as an entrepreneur in business development and is a 13-year
veteran in the  real estate industry.  Mr. Aiello brings a wealth of experience
and  contacts with  respect  to  funding  and  adding  shareholder  value.   In
addition, Mr. Aiello has been instrumental in raising capital for many emerging
growth,  private  and  public  companies,  including  those  in the Oil and Gas
sector.

<PAGE> 24

SECTION 16(A) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE.

      Based  solely  upon  a  review  of  Forms  3  and 4 (there have  been  no
amendments) furnished to the Company during the year  ended  December  31, 2006
(no  Forms  5  having  been  furnished  with  respect to such year) and written
representations furnished to the Company as provided  in paragraph (b)(2)(i) of
Item 405 of Form 10-KSB, there are no persons who need  to  be identified under
this  Item  as  having  failed  to file on a timely basis reports  required  by
Section 16(a) of the Securities Exchange  Act  of  1934  during the most recent
fiscal  year,  except that Mr. Genesi failed to file a Form  4  and  Mr.  Huang
failed to file a Form 3.

CODE OF ETHICS

      We adopted  the  Frontier  Energy  Corp.  Code  of Ethics for the CEO and
Senior Financial Officers (the "finance code of ethics"), a code of ethics that
applies  to  our  Chief  Executive  Officer,  Chief  Operating  Officer,  Chief
Exploration Officer, Principal Financial Officer, controller  and other finance
organization employees.  A copy of the finance code of ethics may  be  obtained
from  the  Company,  free  of  charge,  upon  written  request delivered to the
Company's  Investor  Relations  Department,  c/o  Frontier Energy  Corp.,  2413
Morocco  Avenue, North Las Vegas, Nevada  89031  If  we  make  any  substantive
amendments  to  the  finance  code of ethics or grant any waiver, including any
implicit waiver, from a provision  of  the  code  to  any  of our executives or
employees, we will disclose the nature of such amendment or  waiver in a report
on Form 8-K.

ITEM 10.    EXECUTIVE COMPENSATION

      The following table shows the cash compensation paid by  us,  as  well as
certain  other  compensation  paid or accrued, during the period ended December
31, 2006 to our Chief Executive Officer.

SUMMARY COMPENSATION TABLE
					ANNUAL COMPENSATION
					-------------------
							OTHER ANNUAL
NAME AND POSITION 		YEAR	SALARY ($)	COMPENSATION ($)
-----------------		----	-----------	----------------
Robert Genesi, CEO		2007	$60,000 (1)   	$ 82,940  (2)
                  		2006	$60,000         $     --
                  		2005	$105,000        $     --
                  		2004	$105,000        $ 12,000
______________
   (1)Accrued and remains unpaid. Includes housing and car allowance.

   (2)Other compensation includes  the  valuation  of the issuance of 1,100,000
      shares of common stock at $0.0754 per share for aggregate remuneration of
      $82,940. The 8,900,000 shares of common stock  issued  to Mr. Genesi were
      subsequently cancelled and returned to treasury.


<PAGE> 25


EMPLOYMENT CONTRACTS

      On  July  17,  2006,  the  Company  entered  into an amended and  revised
employment agreement with Robert Genesi whereby Mr.  Genesi  will  serve as the
CEO  of  the Company. The term ("Term") of employment is from July 1,  2006  to
June 30, 2011,  which may be extended upon the mutual agreement of the parties.
Mr. Genesi will be  paid  an  annual  salary  of  $60,000. He will also receive
700,000 common shares of the Company which will vest  monthly  over  24 months.
The shares are also subject to a lock agreement pursuant to which none  of  the
shares may be sold prior to February 17, 2008.

DIRECTORS' COMPENSATION

      Currently  there  is  no  compensation  package  for our board.  While we
expect to create a compensation package for our board members  during  the next
12   months,   we   do   not  currently  have  any  preliminary  agreements  or
understandings with respect to such compensation packages.


ITEM 11.    SECURITY OWNERSHIP  OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND
            RELATED STOCKHOLDER MATTERS

      The following table presents  information  known  to  us, as of March 15,
2008, relating to the beneficial ownership of common stock by:

         *  each person who is known by us to be the beneficial  holder of more
         than 5% of our outstanding common stock;
         *  each of our named executive officers and directors; and
         *  our directors and executive officers as a group.

      We  believe  that  all  persons  named in the table have sole voting  and
investment power with respect to all shares  beneficially owned by them, except
as noted.

       Percentage  ownership  in  the  following  table  is based on 41,256,464
shares of common stock outstanding as of December 31, 2007.  A person is deemed
to be the beneficial owner of securities that can be acquired  by  that  person
within  60  days  from  the  date  of  this  Annual Report upon the exercise of
options, warrants or convertible securities. Each beneficial owner's percentage
ownership is determined by dividing the number  of shares beneficially owned by
that person by the base number of outstanding shares,  increased to reflect the
shares underlying options, warrants or other convertible securities included in
that  person's  holdings, but not those underlying shares  held  by  any  other
person.

				NUMBER OF
				SHARES OF COMMON 		PERCENTAGE OF SHARES
NAME OF BENEFICIAL OWNER 	STOCK BENEFICIALLY OWNED	BENEFICIALLY OWNED
-------------------------	------------------------	---------------------
Robert Genesi (1)			700,000             		1.70%

All directors and officers   		700,000		     		1.70%
(1 person)


___________
(1) The address of our officer listed in the table is in care of Frontier
    Energy Corp., 2413 Morocco Avenue, North Las Vegas, Nevada  89031

<PAGE> 26

ITEM 12.    CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

      Our President and  another former officer of the Company accepted 383,000
shares in lieu of outstanding debt totaling $456,961 during 2004.

ITEM 13.  EXHIBITS, LISTS AND REPORTS ON FORM 8-K

EXHIBITS AND FINANCIAL STATEMENTS.

(A)  Financial Statements and Schedules

     See "Index to Financial Statements"

(B)  Exhibits

EXHIBIT
NUMBER	      DESCRIPTION
-------	      -----------
10.1          Consultant  Agreement  between Frontier Energy Corp. and Crescent
              Fund LLC dated January 9, 2007.**
10.2          Corporate Consulting Agreement  between Frontier Energy Corp. and
              Sam Aiello dated February 5, 2007.**
10.3          Corporate Consulting Agreement between  Frontier Energy Corp. and
              Jeffrey D. Cox dated February 5, 2007.**
10.4          Corporate Consulting Agreement between Frontier  Energy Corp. and
              Malcolm Albert dated March 15, 2007.**
10.5          Corporate Consulting Agreement between Frontier Energy  Corp. and
              Larry Taylor dated March 15, 2007.**
10.6          Consulting  Agreement  between  Frontier Energy Corp. and William
              Tyler Dillerson dated April 2, 2007.**
10.7          Employment Agreement  dated July 15, 2006 between the Company and
              Robert Genesi.*
10.8          Corporate Consulting Agreement between  Frontier Energy Corp. and
              Bart Lawrence dated May 24, 2007.**
10.9          Corporate Consulting Agreement between Frontier  Energy Corp. and
              Bart Lawrence dated August 11, 2007.**
10.10         Corporate Consulting Agreement between Frontier Energy  Corp. and
              Scott Burnim dated July 30, 2007.**
10.11         Consulting  Agreement  between  Frontier Energy Corp. and Kristen
              Anez dated November 3, 2007.**
10.12         Corporate Consulting Agreement between  Frontier Energy Corp. and
              Jamie Gomez dated September 5, 2007.**
10.13         Corporate Consulting Agreement between Frontier  Energy Corp. and
              Reba Duggan dated September 5, 2007.**
10.14         Corporate Consulting Agreement between Frontier Energy  Corp. and
              Scott Belazi dated September 5, 2007.**
10.15         Consulting  Agreement  between  Frontier  Energy  Corp.  and Mark
              Brummell dated September 24, 2007.**
10.16         Consulting  Agreement  between  Frontier Energy Corp. and Phillip
              Russell dated September 24, 2007.**
10.17         Consulting Agreement between Frontier  Energy  Corp.  and Allison
              Nigro dated October 15, 2007.**
10.18         Consulting  Agreement  between  Frontier Energy Corp. and  Alison
              Burnim dated October 30, 2007.**
10.19         Consulting  Agreement  between Frontier  Energy  Corp.  and  John
              Williams dated November 28, 2007.**
10.20         Consulting Agreement between  Frontier Energy Corp. and Gil Whyte
              dated November 28, 2007.**
10.21         Consulting  Agreement  between Frontier  Energy  Corp.  and  Rick
              Shykora dated November 28, 2007. **
10.22         Consulting Agreement between  Frontier Energy Corp. and Daniel R.
              Davison dated December 5, 2007.**
10.23         Consulting  Agreement between Frontier  Energy  Corp.  and  Peter
              Kolacz dated December 5, 2007.**
10.24         Consulting Agreement between Frontier Energy Corp. and Kenneth P.
              Bottoms dated December 20, 2007.**
10.25         Corporate Consulting Agreement between Frontier Energy Corp. and
	      Curtiss Parker dated May 1, 2007.**

31.1          Certification of Chief  Executive Officer pursuant to Section 302
              of the Sarbanes-Oxley Act of 2002.**
32.1          Certification  of Chief Executive  Officer  and  Chief  Financial
              Officers pursuant  to  Section  906  of the Sarbanes-Oxley Act of
              2002.**
__________
* Filed with the registrant's Form 10-KSB for the year ended December 31, 2006.
**   Filed Herewith



ITEM 14.    PRINCIPAL ACCOUNTANT FEES AND SERVICES

      The  Company's  Board  of  Directors  reviews   and  approves  audit  and
permissible  non-audit  services performed by its independent  accountants,  as
well as the fees charged for such services.  In its review of non-audit service
fees and its appointment  of  De Joya, Griffith & Company, LLC as the Company's
independent  accountants,  the  Board   of  Directors  considered  whether  the
provision of such services is compatible with maintaining independence.  All of
the services provided and fees charged by  De  Joya,  Griffith and Company, LLC
were approved by the Board of Directors. The following  table presents fees for
audit services rendered by De Joya and Company and De Joya  Griffith & Company,
LLC for the audits of the our annual financial statements for  the  years ended
December  31,  2007  and  December 31, 20075, respectively and fees billed  for
other services rendered during those periods.

                     		FISCAL 2007	FISCAL 2006

Audit-Related Fees(2)		   15,000          15,000
Tax Fees(3)          		        -               -

Subtotal             		   15,000          15,000

All other Fees(4)    		      -0-             -0-

Total                		        -               -


(1)   Audit Fees - Audit fees  billed to the Company for auditing the Company's
annual financial statements and  reviewing the financial statements included in
the Company's Quarterly Reports on Form 10-QSB.

(2)   Audit-Related Fees - There were  no  other fees billed by during the last
two  fiscal  years  for  assurance and related services  that  were  reasonably
related to the performance  of  the  audit or review of the Company's financial
statements and not reported under "Audit Fees" above.

(3)   Tax Fees - There were no tax fees billed during the last two fiscal years
for professional services.

(4)   All Other Fees - There were no other  fees  billed by during the last two
fiscal years for products and services provided.

Pre-approval of Audit and Non-Audit Services of Independent Auditor

      The Board of Director's policy is to pre-approve  all audit and non-audit
services  provided  by  the independent auditors.  These services  may  include
audit services, audit-related  services, tax services and other services.  Pre-
approval is generally provided for  up  to  12  months  from  the  date of pre-
approval  and  any  pre-approval  is  detailed as to the particular service  or
category  of  services.   The  Board  of Directors  may  delegate  pre-approval
authority  to  one  or  more of its members  when  expedition  of  services  is
necessary.  The Board of  Directors  has  determined that the provision of non-
audit  services  by  De  Joya  Griffith  &  Company,  LLC  is  compatible  with
maintaining its independence.



<PAGE> 27




                                  SIGNATURES

      In  accordance  with  Section  13  or 15(d)  of  the  Exchange  Act,  the
registrant caused this report to be signed  on  its  behalf by the undersigned,
thereunto duly authorized.



                                    FRONTIER ENERGY CORP.


Dated:  July 29, 2010

                                    By:    /S/  Rick Shykora
                                    Name:  Rick Shykora
                                    Title: President,  CEO, Principal Financial
                                    Officer and Director



<PAGE> 28