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22.10.09

Director’s Dealing


PetroLatina Energy Plc
(“PetroLatina” or the “Company”)

Director’s Dealing

PetroLatina (AIM: PELE), the oil and gas exploration and production company focused on Latin America, was yesterday notified that on 21 October 2009, Ciro Mendez, an executive director of the Company, purchased 4,600 ordinary shares of US$0.10 each in the Company (“Ordinary Shares”) at a price of 65 pence per Ordinary Share.

Following the purchase, Mr Mendez holds 39,600 Ordinary Shares, representing approximately 0.08 per cent. of the Company’s issued ordinary share capital. In addition, Mr Mendez holds options over 250,000 Ordinary Shares, which vest over a three year period from 16 October 2009, and are immediately exercisable, in whole or in part, up to the fifth anniversary of the date of grant, at an exercise price of 44.5 pence per Ordinary Share.

Tribeca Oil and Gas, Inc., a portfolio investment company of Tribecapital Partners S.A., a Colombian private equity firm, of which Mr Mendez is an investment manager, and its related companies now hold, in aggregate, 17,022,704 Ordinary Shares, representing approximately 37.37 per cent. of the Company’s enlarged issued share capital and hold warrants over a further 1,875,260 Ordinary Shares which are automatically exercisable if, and to the extent that, any exercise of the Company’s other existing outstanding 3,482,625 warrants occurs. In addition, Tribeca Oil and Gas Financing Inc. currently holds an aggregate principal amount of US$11.165 million of convertible 12 per cent. loan notes due 2011.


Enquiries:

PetroLatina Energy Plc
Juan Carlos Rodriguez, Chief Executive Officer Tel: +57 1627 8435 / + 44 7525 009616
Pawan Sharma, Executive Vice President - Corporate Affairs Tel: +44 (0)207 766 0081

Strand Hanson Limited
Simon Raggett / Matthew Chandler Tel: +44 (0)20 7409 3494

Financial Dynamics
Ben Brewerton / Susan Quigley Tel: +44 (0)20 7831 3113


Additional Information on PetroLatina Energy Plc:
PetroLatina Energy Plc (AIM: PELE), formerly known as Taghmen Energy Plc, was founded in 2004. The Company is presently focused on Colombia after the sale of its assets in Guatemala in which it retains a 20% interest in the first three wells and a 20% working interest in future wells. In Colombia, the Company currently holds 40% and 20% interests in the Los Angeles and Santa Lucía fields on the Tisquirama licence respectively, and a 100% interest in the Doña María field. In November 2007 the Company secured the extension of the Tisquirama licence for the economic life of the fields. In April 2006 the Group acquired an interest in two exploration blocks with an 85% interest in Midas and an 80% interest in La Paloma. PetroLatina also owns the Río Zulia-Ayacucho pipeline in the prolific Catatumbo basin which transports crude oil. Present exploration/exploitation activities in this area should increase the volume of crude oil transported resulting in an increased cash flow. Further information is available on the Company’s website (www.petrolatinaenergy.com).

News Archive:

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10.09.10  Director’s Dealing
PetroLatina Energy Plc (“PetroLatina” or the “Company”) Director’s Dealing PetroLatina (AIM: PELE), the independent oil and gas exploration, development and production company focused on Latin America, was notified on 8...
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