Petrominerales Resumes Operations at Orito and Las Aguilas

Petrominerales Ltd. ("Petrominerales" or the "Company") (TSX:PMG), a 76.4% owned subsidiary of Petrobank Energy and Resources Ltd. ("Petrobank") (TSX:PBG), is pleased to announce that the strike affecting our production and drilling operations at the Orito field and operations at our Las Aguilas exploration block has been lifted. Ecopetrol, the Orito field operator, has commenced the process of reactivating production from the field. It is expected that Orito production will ramp back up over the next week. We are also mobilizing personnel to the area and plan to recommence drilling and workover operations within the next few days.

Petrominerales Ltd.

Petrominerales Ltd. is a Latin American-based exploration and production company producing oil in Colombia with 17 exploration blocks covering a total of 1.9 million acres in the Llanos and Putumayo Basins of Colombia and 2.6 million acres in the Ucayali Basin of Peru. Petrominerales is 76.4% owned by Petrobank (TSX:PBG).

Forward-Looking Statements

Certain information provided in this press release constitutes forward-looking statements. The words "anticipate", "expect", "project", "estimate", "forecast" and similar expressions are intended to identify such forward-looking statements. Specifically, this press release contains forward-looking statements relating to the timing of capital projects and the results of operations. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Actual results achieved during the forecast period will vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. You can find a discussion of those risks and uncertainties in our Canadian securities filings. Such factors include, but are not limited to: general economic, market and business conditions; fluctuations in oil prices; the results of exploration and development drilling, recompletions and related activities; timing and rig availability, outcome of exploration contract negotiations; fluctuation in foreign currency exchange rates; the uncertainty of reserve estimates; changes in environmental and other regulations; risks associated with oil and gas operations; and other factors, many of which are beyond the control of the Company. There is no representation by Petrominerales that actual results achieved during the forecast period will be the same in whole or in part as those forecast. Except as may be required by applicable securities laws, Petrominerales assumes no obligation to publicly update or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or otherwise.

SOURCE: Petrominerales Ltd.

Petrominerales Ltd.
John D. Wright
President and Chief Executive Officer
(403) 750-4400 or 011 571 629 2701
Petrominerales Ltd.
Corey C. Ruttan
Vice-President Finance and Chief Financial Officer
(403) 750-4400 or 011 571 629 2701
Petrominerales Ltd.
Jack F. Scott
Executive Vice-President and Colombian Country Manager
(403) 750-4400 or 011 571 629 2701