| Mon Dec 17, 2007 | PETROMINERALES RAMPS UP 2008 ACTIVITY LEVELS Petrominerales Ltd. (Petrominerales or the “Company”) (TSX: PMG), a 76.5% owned subsidiary of Petrobank Energy and Resources Ltd. (Petrobank) (TSX/OSLO: PBG), is pleased to announce that we are planning the Company’s largest annual capital program in 2008. We expect to be one of the most active explorers in Colombia in 2008 and are also planning an extensive development drilling program. Our 2008 plan builds on our 2007 successes and will provide the platform for continued growth in the coming years. |
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| Thu Dec 6, 2007 | PETROMINERALES TESTS OIL FROM CONGA-1 WELL Petrominerales Ltd. (Petrominerales or the “Company”) (TSX: PMG), a 76.5% owned subsidiary of Petrobank Energy and Resources Ltd.(Petrobank) (TSX/OSLO: PBG), has completed the Conga-1 exploratory well on the Las Aguilas Block in the Putumayo Basin as an oil well. The Conga-1 well was drilled to a total depth of 7,963 feet and was initially perforated and fracture stimulated in the Caballos formation. |
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| Thu Dec 6, 2007 | PETROMINERALES CLOSES US$100 MILLION CONVERTIBLE DEBT OFFERING Petrominerales Ltd. (Petrominerales or the “Company”) (TSX: PMG), a 76.6 percent owned subsidiary of Petrobank Energy and Resources Ltd. (Petrobank) (TSX/OSLO: PBG), is pleased to announce that we have raised US$100 million through our previously announced private placement of 3.375% convertible notes (the Notes) due December 2010 (the Offering). |
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| Mon Nov 26, 2007 | PETROMINERALES PRICES CONVERTIBLE DEBT OFFERING Petrominerales Ltd. (Petrominerales or the “Company”) (TSX: PMG), a 76.6 percent owned subsidiary of Petrobank Energy and Resources Ltd. (Petrobank) (TSX/OSLO: PBG), is pleased to announce pricing of the previously announced private placement of convertible notes due December 2010 (the Notes) with an offering size of US$100 million principal amount (the Offering). This amount includes the exercise of an option that Petrominerales had granted ABG Sundal Collier Norge ASA (ABG) for an additional US$20 million. The Offering is being conducted through a syndicate led by ABG and includes Haywood Securities Inc. |
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| Mon Nov 26, 2007 | PETROMINERALES LAUNCHES $100 MILLION CONVERTIBLE DEBT OFFERING Petrominerales Ltd. (Petrominerales or the “Company”) (TSX: PMG), a 76.6 percent owned subsidiary of Petrobank Energy and Resources Ltd. (Petrobank) (TSX: PBG) (OSLO: PBG), is pleased to announce we intend to make an offering (the Offering) of up to US$100 million in principal amount of convertible notes due 2010 (the Notes). The amount of the Offering includes an option in respect of up to US$20 million in principal amount of Notes that Petrominerales has granted to ABG Sundal Collier Norge ASA (ABG). The Offering is being conducted outside of Canada through a syndicate led by ABG and including Haywood Securities Inc. |
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| Mon Nov 19, 2007 | PETROMINERALES’ CORCEL-2 WELL ON PRODUCTION Petrominerales Ltd. a 76.6 percent owned subsidiary of Petrobank Energy and Resources Ltd. (TSX: PBG) (OSLO: PBG), is pleased to announce that our extended production test of the Corcel-2 well has now commenced and the well is producing at restricted rates of 4,500 barrels of oil per day (bopd) with approximately 16 percent drawdown. The productivity index calculated from this test indicates that the Mirador zone could produce at rates in excess of 10,000 barrels of fluid per day. We expect to ramp Corcel-2 production up to 8,000 barrels of fluid per day over the next few weeks with the existing electric submersible pump (ESP). |
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| Tue Nov 6, 2007 | PETROMINERALES ACHIEVES RECORD THIRD QUARTER AND PRELIMINARY CORCEL-2 TEST RESULTS Bogotá, Colombia, November 6, 2007 Petrominerales Ltd. (Petrominerales or the “Company”), a 76.6% owned subsidiary of Petrobank Energy and Resources Ltd. (Petrobank), is pleased to announce record third quarter 2007 financial and operating results fueled by an 87 percent increase in year over year production to 4,522 barrels of oil per day (bopd) and a $56.62 per barrel operating netback, a reflection of high world oil prices, our high quality assets, and Colombia’s superior fiscal regime. Production has now increased to 8,130 bopd excluding Corcel-2 production. Our Corcel-2 well was tested from the initially completed perforation intervals over a 24-hour period at rates increasing to 3,100 bopd on natural flow. |
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| Tue Oct 23, 2007 | PETROMINERALES CASES THE CORCEL-2 WELL AND THE CONGA-1 EXPLORATION WELL Petrominerales Ltd. (Petrominerales or the “Company”) (TSX:PMG), a 77% owned subsidiary of Petrobank Energy and Resources Ltd. (Petrobank) (TSX: PBG)(OSLO: PBG), announces that the Corcel-2 development well has reached total depth and has been cased as a potential oil well. |
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| Thu Sep 13, 2007 | PETROMINERALES CLOSES $61 MILLION FINANCING Petrominerales Ltd. (Petrominerales or the “Company”) (TSX: PMG), a 77.1% owned subsidiary of Petrobank Energy and Resources Ltd. (TSX: PBG) (OSLO: PBG), is pleased to announce the closing of the bought deal financing previously announced on August 22, 2007. The financing consisted of 5,060,000 common shares, including 660,000 common shares issued pursuant to the exercise in full of the Underwriters’ over-allotment option, issued at a price of $12.05 per common share (the Offering). |
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| Mon Aug 27, 2007 | PETROMINERALES PRODUCES 3,321 BOPD FROM THE CORCEL-1 WELL AND SPUDS CORCEL-2 WELL Petrominerales Ltd. (Petrominerales or the “Company”) (TSX:PMG), an 80.7% (77.2% after the issuance of 4.4 million shares, expected to close on September 13, 2007) owned subsidiary of Petrobank Energy and Resources Ltd. (Petrobank) (TSX: PBG) (OSLO: PBG), announces that our six-day test of the Corcel-1 well has been completed at restricted rates increasing progressively to a maximum of 3,321 barrels of oil per day (bopd) with 99.2 percent oil cut and approximately 12 percent drawdown. |
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| Wed Aug 22, 2007 | PETROMINERALES ANNOUNCES $53 MILLION BOUGHT DEAL FINANCING Petrominerales Ltd. (Petrominerales or the “Company”) (TSX:PMG), an 80.7% owned subsidiary of Petrobank Energy and Resources Ltd. (TSX: PBG) (OSLO: PBG), is pleased to announce that it has entered into an agreement with syndicate of investment dealers, led by Haywood Securities Inc. and including Fraser Mackenzie Ltd., TD Securities Inc., FirstEnergy Capital Corp., RBC Capital Markets., Scotia Capital Inc., and GMP Securities L.P. … |
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| Thu Aug 9, 2007 | PETROMINERALES ANNOUNCES SECOND QUARTER RESULTS Petrominerales Ltd. (Petrominerales or the “Company”), an 80.7% indirectly owned subsidiary of Petrobank Energy and Resources Ltd. (Petrobank), is pleased to announce second quarter 2007 financial and operating results… |
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| Thu Aug 2, 2007 | PETROMINERALES TESTS ADDITIONAL OIL FROM UPPER MIRADOR ZONE IN CORCEL-1 WELL Petrominerales Ltd. (Petrominerales or the “Company”) (TSX:PMG), an 80.7% owned subsidiary of Petrobank Energy and Resources Ltd. (Petrobank) (TSX: PBG) (OSLO: PBG), announces that the upper Mirador zone in the Corcel-1 exploration well has also tested oil. |
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| Thu Jul 26, 2007 | PETROMINERALES TESTS OIL FROM SECOND ZONE IN CORCEL-1 Petrominerales Ltd. (Petrominerales or the “Company”) (TSX: PMG), an 80.7% owned subsidiary of Petrobank Energy and Resources Ltd. (Petrobank) (TSX: PBG) (OSLO: PBG), announces that the second test interval in our Corcel-1 exploration well has tested at initial rates of 1,500 to 2,300 barrels per day of 28 degree API oil, with no water, from the lower Mirador interval… |
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| Thu Jul 19, 2007 | PETROMINERALES TESTS OIL FROM FIRST ZONE IN CORCEL-1 EXPLORATION WELL Petrominerales Ltd.(TSX: PMG), an 80.7% owned subsidiary of Petrobank Energy and Resources Ltd. (TSX: PBG) (OSLO: PBG), announces that our Corcel-1 exploration well has tested at initial rates of 970 to 1,200 barrels per day of 31 degree API oil, with no water, from the Guadalupe formation, (initially interpreted as the Barco formation) which corresponds to the lowermost of our three planned test intervals… |
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| Mon Jun 18, 2007 | PETROMINERALES TO CASE FIRST CORCEL EXPLORATION WELL Petrominerales Ltd. (Petrominerales or the “€œCompany”) (TSX: PMG), an 80.7% owned subsidiary of Petrobank Energy and Resources Ltd. (Petrobank) (TSX: PBG) (OSLO: PBG), announces that the Corcel-1 exploration well is being cased as a potential oil well. |
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| Wed May 23, 2007 | PETROMINERALES TO WEBCAST ANNUAL AND SPECIAL MEETING AND PROVIDES EXPLORATION UPDATE Petrominerales Ltd. (Petrominerales or the “Company”) (TSX: PMG), an 80.7% indirect subsidiary of Petrobank Energy and Resources Ltd. (Petrobank) (TSX:PBG) (OSLO:PBG), announces that the Casanare Este-1 exploration well in Colombia is to be abandoned. |
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| Tue May 8, 2007 | PETROMINERALES ANNOUNCES FIRST QUARTER RESULTS AND SUBSEQUENT PRODUCTION INCREASES Petrominerales Ltd. (Petrominerales or the “Company”), an 80.7% indirectly owned subsidiary of Petrobank Energy and Resources Ltd. (Petrobank), is pleased to announce first quarter 2007 financial and operating results. |
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| Mon Apr 2, 2007 | PETROMINERALES ANNOUNCES MAPURO-1 WELL IN COLOMBIA TO BE ABANDONED Bogotá, Colombia, April 2, 2007, Petrominerales Ltd. (Petrominerales or the “Company”), an 80.7% indirect subsidiary of Petrobank Energy and Resources Ltd. (Petrobank), announces that the Mapuro-1 well in Colombia is to be abandoned… |
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| Fri Mar 30, 2007 | PETROMINERALES FILES ANNUAL INFORMATION FORM Petrominerales Ltd. (Petrominerales or the “Company”) has today filed its Annual Information Form, which includes Petrominerales’™ reserves data and other oil and gas information for the period ended December 31, 2006 as mandated by National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities of the Canadian Securities Administrators. |
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| Fri Mar 9, 2007 | PETROMINERALES ANNOUNCES YEAR END RESULTS, RESERVE INCREASES AND INITIAL EXPLORATION SUCCESS Petrominerales Ltd. and its 80.7% majority shareholder Petrobank Energy and Resources Ltd. (TSX/Oslo: PBG) are pleased to announce strong fourth quarter and year-end financial and operating results, a 53% increase in proved plus probable reserves and initial success on our first of five exploration wells to be drilled in 2007. |
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