Petrominerales Ltd. (“Petrominerales” or the “Company”) (TSX:PMG), a 66% owned subsidiary of Petrobank Energy and Resources Ltd. (TSX:PBG), is pleased to announce that Amarillo-1 will be cased as a potential oil well.
PETROMINERALES ACQUIRES STAKE IN INTEROIL
Petrominerales Ltd. (“Petrominerales”) (TSX:PMG), a 66% owned subsidiary of Petrobank Energy and Resources Ltd. (TSX:PBG), would like to announce that we have acquired 1,141,125 shares (“IOX Shares”) of InterOil Exploration & Production ASA (“InterOil”), representing approximately 5.2% of the outstanding shares of InterOil. The purchases of the IOX Shares were made on our behalf by ABG Sundal Collier Norge, through the facilities of the Oslo Børs Stock Exchange (“Oslo Børs”), during the period from July 14, 2010 to July 28, 2010. InterOil is an international petroleum company headquartered in Oslo, Norway, listed on the Oslo Børs under the symbol “IOX”.
PETROMINERALES PROVIDES CLARITY ON RECENT DISCLOSURES BY THE ANH RELATING TO THE OPEN ROUND COLOMBIA 2010
Petrominerales Ltd. a 66% owned subsidiary of Petrobank Energy and Resources Ltd. would like to provide clarity regarding the asterisks noted next to Petrominerales’ name in recent disclosure of the Agencia Nacional de Hidrocarburos (National Hydrocarbon Agency) (“ANH”), an agency of the Colombian government, relating to the Open Round Colombia 2010. The asterisks indicate that Block 15 and 59 awarded to Petrominerales in the 2010 Bid Round are subject to the resolution of a contractor noncompliance procedure. The non-compliance procedure relates to an interpretation difference with respect to the Corcel Block exploration contract entered into between Petrominerales and the ANH on June 2, 2005.