TORONTO, Feb. 22 /CNW/ - Pacific Rubiales Energy Corp. (TSX: PEG)
announced today that Neil Woodyer has been appointed to the board of the
company, replacing Gordon Keep. Mr. Woodyer's appointment remains subject to
Mr. Woodyer is the founder and CEO of Endeavour Financial and is
responsible for managing financial advisory mandates and investment related
services. His experience in natural resource marketing and finance spans
thirty years, including Chief Executive Officer positions with Lloyds
International Trading, a subsidiary of Lloyds Bank, specializing in project
and trade finance and commodity trading and Amalgamet's group of New York and
Latin American based metal trading and mining finance companies. Mr. Woodyer
is a director or has been a director of numerous public companies, including
Coalcorp Mining Inc. and Medoro Resources Ltd. He is a Fellow of the Institute
of Chartered Accountants in England and Wales.
Mr. Keep played an integral role in the organization and development of
the company and has signed a consultancy agreement to continue to provide
support and guidance to the company as requested. The company and its board
thanks Mr. Keep for his service and commitment to the company and its
The company also announced that Dr. Sally Eyre, the Senior Vice
President, Corporate Development will be leaving the company on February 29,
2008 to join Endeavour Financial as Director, Marketing and Business
Development. The company wishes Sally well in her new position.
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
17,500 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 and Jagueyes blocks in
Colombia and blocks 135, 137 and 138 in Peru.