NEWSROOM

    TORONTO, March 23 /CNW/ - Pacific Rubiales Energy Corp. (TSX: PRE) today
announced it will file its financial statements for the financial year ending
December 31, 2008, together with its management's discussion and analysis of
financial results, on Friday, March 27. The company's senior management will
discuss the company's financial results during a conference call scheduled for
Monday, March 30, 2008, at 8:00 a.m. Eastern Daylight Time (EDT).Call-in details are as follows:

        Toronto & International: (416) 644 3414

        North America: (800) 732 9303Pacific 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. 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 a current net production of approximately 34,000
barrels of oil equivalent per day, with working interests in 34 blocks in
Colombia and Peru. Effective March 24, 2009, the company will be included on
the S&P/TSX Composite Index.

    Boe may be misleading, particularly if used in isolation. A boe
conversion ratio of 6 mcf:1 bbl is based on an energy equivalency conversion
method primarily applicable at the burner tip and does not represent a value
equivalency at the wellhead.

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