Pacific Rubiales Energy Corp. has resolved to submit, subject to prior approval from the Brazilian Securities Commission (CVM) and the Brazilian Stock Exchange (BM&FBOVESPA - Bolsa de Valores, Mercadorias e Futuros (BOVESPA)), as the case may be, a request for the cancelation of the Company's (i) Brazilian Depositary Receipts listed on BOVESPA under the ticker "PREB11" and registered under ISIN "BRPREBBDR001" (BDRs), each representing one common share of the Company listed on the Toronto Stock Exchange ("Common Shares"); and, consequently, (ii) registry as a foreign publicly-held company in Brazil ("Delisting").

Ronald Pantin, Chief Executive Officer of the Company, stated,"The Company remains committed to growing its business in Brazil. We have interests in eight exploration blocks in highly prospective offshore basins and expect to start drilling an appraisal well to our Kangaroo-1X oil discovery later this year."

Tags: Pacific Rubiales Energy Corp.