Pacific Rubiales Encouraged By Arauca Drilling Results

- Pacific Rubiales Encouraged By Arauca Drilling Results

Monday, July 18, 2011
Pacific Rubiales Energy Corp.

Pacific Rubiales Energy Corp. announced today an operational update for the TORODOI-1X exploration well, the first of two exploratory wells planned for 2011 in the Arauca Block.

The TORODOI-1X well spudded on July 3, 2011 with exploration targets in Tertiary and Cretaceous sands. The well was drilled vertically and found the Tertiary Carbonera Formation at 4,534 feet Measured Depth ("MD") or 4,121 feet True Vertical Depth Sub Sea ("TVDSS"), Tertiary Mirador at 5,549 feet MD (5,136 feet TVDSS), Cretaceous Guadalupe at 5,822 feet MD (5,325 feet TVDSS) and Basement at 7,119 feet MD (6,706 feet TVDSS), reaching Total Depth ("TD") at 7,327 feet MD on July 12, 2011.

Ronald Pantin, Chief Executive Officer of Pacific Rubiales, commented: "We are very encouraged by this first success in the Arauca Block as this represents an auspicious start of the activity in this brand new oil region, setting the path for new discoveries that will enlarge our resource base and ensure the long term growth of the block."

During drilling, oil shows were detected in ditch samples located in sands correlated as Carbonera C-5 at 5,185 feet MD (4,772 feet TVDSS). Weaker oil and gas shows were also described in the Mirador and Guadalupe formations.

After running open hole wire-line logs, the petrophysical evaluation showed an oil-bearing sand interval in the Carbonera C-5 with a net pay thickness of 13 feet, 24% porosity and water saturation of 45% without an oil-water contact interpreted. On that sand, two wire-line pressure points showed a 0.357 psi / ft formation gradient, indicative of a fluid density similar to that of light to medium oil. The Mirador and Guadalupe showed water on the petrophysical evaluation, and four pressure points showed a water gradient of 0.43 psi / ft.

At C-5 level, the TORODOI-1X well is located within a four-way structural closure with an approximate area of 5,300 acres.

Management believes the geological information obtained in the TORODOI-1X well will be invaluable for the design of the planned exploration wells with Paleozoic targets. The Company is making arrangements to conduct production tests after the running of a 7" casing down to TD.

The Arauca Block is an E&P Contract executed between Pacific Stratus Energy Colombia Corp. (a wholly-owned subsidiary of the Company) and the Agencia Nacional de Hidrocarburos of Colombia ("ANH") with a sliding scale royalty, where the Company holds 100% working interest, and Free Traders Group Inc. is entitled to a 5% working interest once repayment of 5% of the exploration expenditures is made by Free Traders Group Inc. to the Company, if commercial production is obtained and subject to the ANH's approval of said transfer of interest.

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Rockhopper Encouraged by Sea Lion Appraisal Results

- Rockhopper Encouraged by Sea Lion Appraisal Results

Wednesday, June 01, 2011
Rockhopper Exploration plc

Rockhopper Exploration provided the following update on the 14/10-5 appraisal well:

• Significant reservoir package and hydrocarbon column encountered
• Wireline log analysis indicates 93.5m (306 feet) net pay in good quality reservoir
• Average porosity greater than 20%
• Average permeability of 100-200 millidarcies (mD) and up to 1,000mD
• 79m net pay in main fan complex
• 14.5m net pay in lower fan complex
• No oil water contact observed
• Rockhopper now intends to test the well

14/10-5 was drilled 600m north of the 14/10-2 discovery well to a total depth of 2,726m (drilled depth) and was the second appraisal well on the Sea Lion feature.

The well was designed to appraise the Sea Lion main fan reservoir and investigate hydrocarbon column and reservoir distribution.

The well has been highly successful, proving a very thick, high quality reservoir package and a substantial oil column. The geological prognosis once again came in very close to prediction.

The Sea Lion reservoir sands were encountered 22m updip from the 14/10-2 discovery well at a depth of 2,378m (drilled depth). A total reservoir package of 110m (360 feet) comprising one main sand and three thinner sands was encountered with a net to gross of 91% in the main sand and 25-80% in the lower sands. The gross oil column in the main Sea Lion fan is now 125m (410 feet). MDT pressures confirm oil gradients throughout all sands.

Wireline logging indicates that reservoir quality is good, with average porosity of greater than 20% and average permeabilities of 100-200mD.

79m (259 feet) of net pay has been encountered in the main fan complex with a net to gross of 91%. 14.5m (47 feet) of pay has been encountered in the lower fan complex with a net to gross of 25-80%. The lower fan was not prognosed to be well developed at this location.

64m (210ft) of conventional core was cut and recovered through the main sand.

The Company now intends to test the well. Tests will comprise both mini DST (downhole dual packer MDT) and a fully engineered drill stem test (DST). The Company intends to perform mini DST tests on both the upper and lower fans and to perform the fully engineered DST on the upper fan only. Testing operations are anticipated to take approximately a month and a further announcement will be issued once all testing operations have been completed.

Following completion of all testing operations, Rockhopper intends to drill a further appraisal well on Sea Lion located some 4.2km to the west of the 14/10-2 discovery well. This well will be located outside the Company's "low case" area and within the Company's "mid case" area for the main fan and is also intended to penetrate the lower fan in what the Company believes will prove a more optimal location.

Sam Moody, Chief Executive, commented, "This is an enormously encouraging result and is a testament to the quality of our technical team. The well test will be another key step on the road towards proving commerciality for the Sea Lion discovery."

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