PetroLatina CEO Resigns

PetroLatina has appointed Juan Carlos Rodriguez (46), currently President of the Company's Columbian subsidiary Petroleos del Norte ("PDN"), as Interim Chief Executive Officer with immediate effect. He will be joined on the Board by James Joseph May (58) who has agreed to join the Company as a Non-Executive Director.

Juan Carlos has been President of PDN for several years and is an experienced oil and gas operator supported by an operational team of more than 40 people. He is also highly respected within the business community in Columbia.

James May's appointment will give the Company a full-time UK resident Board member.

Rudolph Berends has resigned today as a Director of the Company effective immediately. Rudolph has also stepped down from his position as President and Chief Executive Officer with immediate effect. At the same time, James Guiang has resigned as a Non-executive Director.