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Feb 14, 2012

Company Announcement: Pacific Rubiales Announces Appointment of Directors

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Pacific Rubiales Announces Appointment of Directors (0.04 MB)

TORONTO, Feb. 13, 2012 /CNW/ - Pacific Rubiales Energy Corp. (TSX: PRE; BVC: PREC; BOVESPA: PREB) is pleased to announce the appointment of Messrs. Dennis Mills and Francisco Solé to the board of directors of the Company, effective February 13, 2012, subject to regulatory approval. Mr. Mills will chair the Company's Audit Committee and will also join the Company's Corporate Governance and Nominating Committee, while Mr. Solé will be joining the Company's Compensation and Human Resources Committee. Messrs. Mills and Solé have been appointed to the board to replace Messrs. Donald Ford and John Zaozirny, each of whom is retiring from the board of directors at this time.

Mr. Mills was Vice Chairman and Chief Executive Officer of MI Developments Inc. from 2004 to 2011, and a Vice-President at Magna International from 1984 to 1987. Mr. Mills served as a Member of Parliament in Canada's federal parliament from 1988 to 2004. While a Member of Parliament, Mr. Mills was Parliamentary Secretary to the Minister of Industry from 1993 to 1996, the Parliamentary Secretary to the Minister of Consumer and Corporate Affairs from 1993 to 1995 and the Chair of the Committee studying the Industry of Sport in Canada. Mr. Mills was the Senior Policy Advisor to the Cabinet Committee on Communications (1980-1984), Advisor to the Minister of Energy (1980-1981), Senior Advisor to the Minister of Multiculturalism (1980), and Senior Communications Advisor to the Prime Minister of Canada, The Right Honourable Pierre Elliott Trudeau (1980-1984).

Mr. Solé has served Grupo Planeta, a Colombian publishing and media company in various capacities since 1989, most recently as Grupo Planeta Corporate President of the Andean Area, Vice-President of El Tiempo Publishing House and President of Channel 3 Television of Colombia. Mr. Solé has also been a member of the Board of Directors for CEET TV, El Tiempo Publishing House and Editorial Planeta Colombia during this time. From 1985-1989 he was General Director and Director of Administration at the oil refining company East of Spain Lubricants (LUDESA), in Spain. He has also been Department Head, Accountant and Section Chief in the department of cost accounting at Novartis, a chemical and pharmaceutical company.

Stated Ronald Pantin, Chief Executive Officer of Pacific Rubiales: "We are very pleased to welcome Mr. Dennis Mills and Mr. Francisco Solé to our board of directors and look forward to the value and experience they will bring to the board. At the same time, we wish to thank Mr. Donald Ford and Mr. John Zaozirny for the service, insight and experience they provided Pacific Rubiales."

Pacific Rubiales, a Canadian-based company and producer of natural gas and heavy crude oil, owns 100 percent of Meta Petroleum Corp., a Colombian oil operator which operates the Rubiales and Piriri oil fields in the Llanos Basin in association with Ecopetrol, S.A., the Colombian national oil company, and 100 percent of Pacific Stratus Energy Corp. which operates the La Creciente natural gas field. The Company is focused on identifying opportunities primarily within the eastern Llanos Basin of Colombia as well as in other areas in Colombia and northern Peru. Pacific Rubiales has working interests in 46 blocks in Colombia, Peru and Guatemala.

The Company's common shares trade on the Toronto Stock Exchange and La Bolsa de Valores de Colombia and as Brazilian Depositary Receipts on Brazil's Bolsa de Valores Mercadorias e Futuros under the ticker symbols PRE, PREC, and PREB, respectively.


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