Putting our Principles into Practice: Some Examples

We believe that not only do we set high standards in our approach to our business but that we put our words into practice.

Since its inception and commencement of operations, PetroLatina has worked closely with local communities. The Company is concerned with poverty in the areas where it operates. It has carried out programmes which make a contribution to the alleviation of the problem and the improvement of the quality of life in these communities.

Work and Direct Investment in the community

PetroLatina believes that the local community should share in the benefit that its operations provide. Both in Guatemala and Colombia, emphasis has been given to the employment of local staff. Expatriate staff are kept to the lowest possible level. In Colombia all of the field staff are local. So far as possible, services and equipment are sourced from the local communities. This benefits local businesses. In Guatemala, prior to the disposal in 2007, a new restaurant was set up, hotel refurbishments were carried out as a result of our presence, and an extension of carpentry and construction businesses due to our operations in the town of Fray la Batholomé de Las Casas, Guatemala. In the Tortugas/Atzam licence area our operations provided jobs where employment opportunities are few. The injection of funds through salaries and corporate purchases sustains businesses in the local communities in which we operate.

Training of local staff

Local personnel receive training both in the more specialised roles in oil field operations, drilling services and seismic operations, and more standard jobs such as the construction of modular camp units, furniture construction, plumbing, carpentry and proper environmental management. These skills are transferable into other business and companies and so provide a sustainable level of development within the communities we operate.

Schools in Las Casas, Guatemala

PetroLatina carried out a survey of all public schools in the Las Casas area to determine what the schools lacked and what was of importance to the children’s needs. In the Las Casas area, with over 6,000 school children, not a single teacher was trained in basic first aid. Responding to this need, PetroLatina established a beginner’s first aid program. During 2005, over 120 school teachers were given basic first aid and artificial ventilation training.

Local community in Las Casa, Guatemala

PetroLatina has built a basketball court in the town centre to help strengthen community relationships.

Colombia

The Company is currently reviewing operations to identify where it can make similar contributions to the areas in which it now operates.

.