Pacific Rubiales Discovers Oil at Quifa-7 Onshore Colombia

Pacific Rubiales has announced a new oil discovery at its Quifa-7 well, located in Prospect "H" within the Quifa Block, the Llanos Basin of Colombia. The company also provided an update on the operational activity in the block.

The Quifa-7 exploratory well found the top of the reservoir, the Carbonera basal sands, at 2,857 feet measured depth (MD), or 2,206 feet true vertical depth below sea level (TVDSS) and the oil water contact (OWC) at 2,896 feet MD or 2,245 feet TVDSS for a total oil column of 39 feet from the OWC to the crest of the structure. Preliminary petrophysical evaluation of the data from the well indicates a net pay zone of 24 feet and 30% average porosity. This result, along with the pressure and production regime measured at the Quifa-5 and Quifa-8 wells recently drilled at Prospect "E", suggests that prospects "H" and "E" are possibly connected as a single oil reservoir.

The company is now planning to test the well and to complete it as a vertical oil producer.

Operational Update

The Quifa-8 well, recently drilled as an appraisal well to the Quifa 5 discovery in Prospect "E", was perforated for commingled production-testing of two pay zones in the Carbonera basal sands at 3,048 - 3,056 and 2,978 - 2,958 feet MD. After the first four days of testing, the well showed an average production of 100 barrels per day of 13.7 degrees API oil, slightly lighter than the 12.5 degrees API oil produced in the contiguous Rubiales field. This production level is similar to those reported from other vertical oil producer wells at the Rubiales field.

Well I-9ST2, drilled in Prospect "I" in the southwest part of the Quifa Block, has a mechanical problem, and will initiate its production test after a work over, scheduled for next month. (Refer to the drill results of the I-9 ST-2 well in the same Prospect "I" in the company's press release dated July 27, 2009).

The Quifa Block is an Association Contract with Ecopetrol, S.A. in which Meta Petroleum (a wholly-owned subsidiary of Pacific Rubiales) holds a 60% working interest and Ecopetrol S.A. holds a 40% working interest.