Petrolifera to Test La Pinta-1, Extends Bid Deadline for Argentinean Ops

Petrolifera Petroleum Ltd.

Petrolifera Petroleum announced that testing of its La Pinta No.1 well on the Sierra Nevada License in Colombia is anticipated to commence on June 6, 2009. It is expected that the complete testing program will require between seven and ten days, after which the rig will be released from the La Pinta No.1 location. Results will be communicated by way of press release when they are conclusive and testing is completed.

The company also announced that at the request of a number of interested parties, the deadline for submission of bids related to the potential purchase of Petrolifera's Argentinean operations has been extended until July 10, 2009.

Petrolifera is a Calgary-based crude oil, natural gas liquids and natural gas producer engaged in exploration and exploitation activity in Argentina, Colombia and Peru. The company is a large land holder in all three jurisdictions and anticipates an active and aggressive exploratory drilling program, primarily in Colombia and Peru, in the next several years. Petrolifera has announced its intention to embark on a divestiture of its Argentinean interests, to focus on its other areas of operation.