NEWSROOM

    TORONTO, Sept. 16 /CNW/ - Pacific Rubiales Energy Corp. (TSX: PEG)
announced today that, effective the opening of the market on Wednesday,
September 17, 2008, the trading symbol for its outstanding common shares will
be changed to "PRE". At the same time, the trading symbol for its outstanding,
listed warrants will change to "PRE.WT" and the symbol for the company's
outstanding, listed convertible unsecured subordinated debentures will change
to "PRE.DB". Only the trading symbols have changed; there have been no changes
to the characteristics of any of the company's securities.

    Pacific Rubiales, a Canadian-based company and producer of natural gas
and heavy crude oil, owns 100 percent of Meta Petroleum Limited, 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
26,000 barrels of oil equivalent per day, with working interests in the
Rubiales, Piriri and Quifa concessions and the Caguan, Dindal, Rio Seco,
Puli B, La Creciente, Moriche, Guama, Arauca, Tacacho, Jagueyes, Abanico,
Alhucema, Arrendajo, Cerrito, Chipalo, Cicuco, Guasimo, Buganviles, Las
Quinchas, CP-1 and CP-6 blocks in Colombia and blocks 135, 137 and 138 in
Peru.
    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.

    %SEDAR: 00007953E