2009-08-18-2007-12-01-2008-03-01

Bought co., gaining 8.1 MMBOE net proved, 1,900 BOE/d net.

Petro Rubiales Energy Corp., Vancouver, (Toronto Venture: PEG) has completed its acquisition of Pacific Stratus Energy Ltd., Toronto, (Toronto: PSE) for C$667 million in stock and for a net deal value of approximately C$607 million. Petro Rubiales paid 9.5 shares per Pacific Status share for a total of 542 million shares. Pacific Stratus had no debt and approximately C$60 million cash on hand. Pacific Stratus becomes a subsidiary of Petro Rubiales and the combined entity is named Pacific Rubiales Energy Corp. Pacific Stratus operated in Sub-Andean basins with working interests in Caguan, Dindal, Rio Seco, Puli B, La Creciente, Moriche, Guama and Arauca blocks in Colombia and blocks 135, 137 and 138 in Peru. Net production is 1,900 barrels of oil per day. Proved net reserves are 8.1 million barrels and proved plus probable are 10.6 million barrels of oil. Combined, Pacific Rubiales has a market capitalization of approximately C$2.5 billion and produces about 30,000 barrels of oil per day. Ronald Pantin is chief executive and Jose Francisco is president. The combined board includes Serafino Iacono, co-chairman, Miguel de la Campa, co-chairman, Ronald Pantin, Jose Francisco Arata, German Efromovich and Gordon Keep. A four-person advisory board of Augusto Lopez, Miguel Rodriguez, Jose Efromovich and John Zaozirny will likely join the board when the number of seats is increased. Pacific Rubiales is the owner of Meta Petroleum Ltd., a Colombian oil and gas operator that operates the Rubiales and Piriri oil fields with Ecopetrol SA, the Colombian state-owned oil company. Endeavour Financial International Corp. was financial advisor to Petro Rubiales. GMP Securities LP was financial advisor to Pacific Stratus.