Frontier Oil Corporation Announces Notes Offering

HOUSTON--(Business Wire)--
Frontier Oil Corporation (NYSE:FTO) announced today that it
intends to offer, subject to market conditions and other factors, up
to $200 million aggregate principal amount of senior notes due 2016 in
a registered public offering. Payment of the notes will be guaranteed
by all of Frontier's material domestic restricted subsidiaries.

The notes offering and sale will be made under Frontier's shelf
registration statement on Form S-3 filed with the Securities and
Exchange Commission on December 13, 2005. The proceeds from the notes
offering will be used for general corporate purposes.

UBS Securities LLC is the sole book-running manager for the
offering. In addition, BNP Paribas Securities Corp.; Wedbush Morgan
Securities Inc.; TD Securities (USA) LLC; Wells Fargo Securities, LLC;
Piper Jaffray & Co.; UCI Capital Markets, Inc.; Daiwa Securities
America Inc.; Capital One Southcoast, Inc.; and Natixis Bleichroeder
Inc. will serve as co-managers. The offering of the notes will be made
only by means of a prospectus and related prospectus supplement. When
available, copies of the prospectus and related prospectus supplement
may be obtained from UBS Securities LLC by submitting a request by
mail to UBS Securities LLC, Prospectus Departments, 299 Park Avenue,
New York, New York 10171, phone: (888) 827-7275 or (212) 713-2626.

Frontier operates a 120,000 barrel-per-day refinery located in El
Dorado, Kansas, and a 52,000 barrel-per-day refinery located in
Cheyenne, Wyoming, and markets its refined products principally along
the eastern slope of the Rocky Mountains and in neighboring plains
states. Information about Frontier may be found on its web site at
www.frontieroil.com.

This press release is neither an offer to sell nor a solicitation
of an offer to buy the securities described herein, nor shall there be
any sale of these securities in any jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.

This press release includes "forward-looking statements" as
defined by the Securities and Exchange Commission. Such statements are
those concerning strategic plans, expectations and objectives for
future operations. All statements, other than statements of historical
fact, included in this press release that address activities, events
or developments that the Company expects, believes or anticipates will
or may occur in the future are forward-looking statements. These
statements are based on certain assumptions made by the Company based
on its experience and perception of historical trends, current
conditions, expected future developments and other factors it believes
are appropriate in the circumstances. Such statements are subject to a
number of assumptions, risks and uncertainties, many of which are
beyond the control of the Company, any such statements are not
guarantees of future performance and actual results or developments
may differ materially from those projected in the forward-looking
statements.

Frontier Oil Corporation, Houston
Kristine Boyd, 713-688-9600 x135

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