TORONTO, June 25, 2013 /PRNewswire/ - Pacific Rubiales Energy Corp. (TSX: PRE; BVC: PREC; BOVESPA: PREB) announced today that while it is a general policy not to comment on market or media rumours, the Company would like to formally respond to completely untrue media reports published in Colombia.
Recent articles, reported in various Colombian newspapers, claim that Pacific Rubiales is involved in a politically motivated plot against the Venezuelan government. The allegations are absurd and have no factual basis. Pacific Rubiales categorically denies these reports and any involvement in these untrue allegations.
Pacific Rubiales is a Canadian incorporated and publicly listed company and as such holds itself to the highest standards of corporate governance. The Company, which has oil and gas operations and development properties in Colombia, Peru, Brazil, Guatemala, Guyana and Papua New Guinea, is focused on providing value to its various stakeholders and conducts all of its activities in a sustainable and socially responsible manner.
Pacific Rubiales, a Canadian company and producer of natural gas and crude oil, owns 100% of Meta Petroleum Corp., which operates the Rubiales, Piriri and Quifa heavy oil fields in the Llanos Basin, and 100% of Pacific Stratus Energy Colombia Corp., which operates the La Creciente natural gas field in the northwestern area of Colombia. Pacific Rubiales has also acquired 100% of PetroMagdalena Energy Corp., which owns light oil assets in Colombia, and 100% of C&C Energia Ltd., which owns light oil assets in the Llanos Basin. In addition, the Company has a diversified portfolio of assets beyond Colombia, which includes producing and exploration assets in Peru, Guatemala, Brazil, Guyana and Papua New Guinea.
The Company's common shares trade on the Toronto Stock Exchange and La Bolsa de Valores de Colombia and as Brazilian Depositary Receipts on Brazil's Bolsa de Valores Mercadorias e Futuros under the ticker symbols PRE, PREC, and PREB, respectively.
SOURCE Pacific Rubiales Energy Corp.