The purpose of PetroLatina Energy’s ethical code is to provide a philosophical structure to underpin the work of the company and its subsidiaries at every level. It is intended to be a beacon to illuminate the future direction of PetroLatina Energy and the whole range of its activities.

This code sets out values and standards which should inspire confidence and trust both within PetroLatina Energy and in its relations with external actors, whether they be government ministries, regulatory agencies, local communities, suppliers and sub-contractors, and investors and financial markets. PetroLatina Energy's Guiding Principles embrace, complement and incorporate its Code of Ethics. There are four fundamental principles on which PetroLatina Energy's code rests:

• Respect for the law of the host country, in the conviction that the rule of law is the prerequisite for a society which functions well;

• Not to submit to bribery and corruption, and not to accept excessive gifts or entertainment which would entail an obligation to the donor;

• Support for human rights;

• A commitment to pursue sustainable development. This should protect the environment and be to the benefit of local communities.

The code is based on the values of honesty, integrity and respect for people. It presupposes that individuals working in PetroLatina Energy will never be hesitant or ashamed if their actions were exposed to public scrutiny. The ideal of responsibility which runs through the code is an individual one. Those working for PetroLatina Energy are expected to do ' the right thing.' They should exercise common sense and judgement, and appeal to their own conscience. In making a decision anyone working for PetroLatina Energy should be able to satisfy him or herself that he or she would be content if his or her actions were examined, not just by managers and colleagues but also by friends and family. PetroLatina Energy hopes and expects that third parties with whom it has business dealings will endorse and subscribe to the values and standards set out in this code.