PGB Petroglobe

PetroGlobe Inc. (TSX VENTURE:PGB) ("PetroGlobe" or the "Company") announces it
has filed its interim consolidated financial statements for the three and nine
months ended September 30, 2009 and accompanying Management's Discussion and
Analysis with Canadian securities regulatory authorities.  These filings are
available for review under the Corporation's SEDAR profile at www.sedar.com.


2009 Third Quarter Highlights Include

- Tied -in and brought on stream one natural gas well 

- Successfully worked over and brought on stream one vertical Cardium oil well

- Reduced third quarter 2009 general and administrative expenses, on a per boe
basis, 58% compared to the third quarter 2008


- Subsequent to the quarter end, the Company closed two private placements for a
total of $3.3 million which will be used to fund planned Cardium oil drilling
activity and general working capital


Forward-Looking Information

This PetroGlobe Inc. news release may contain forward-looking information
relating to business strategy, geographic areas of activity, capital
expenditures, future drilling, drilling costs, production rates, cash flow,
investment payouts and other matters.  This information is based on PetroGlobe's
current expectations and assumptions as to a number of factors, including access
to capital, availability of drilling rigs, weather conditions, drilling success,
resulting reserves production, ability to tie-in production, decline rates,
commodity prices, exchange rates, interest rates and general economic and
industry conditions.  


The material assumptions applied were that PetroGlobe Inc. continues its
exploration and development focus in Alberta and Texas, sufficient cash is
available to fund capital programs, through existing cash balances and future
capital raises on acceptable terms, drilling costs are maintained at expected
levels, drilling results, reserves and production are within expectations and
there is sufficient access to transportation, processing facilities, commodity
prices and sales markets.  If those expectations and assumptions prove to be
incorrect, or factors change, then actual results could differ materially from
the forward-looking information contained in this news release.


BOEs may be misleading, particularly if used in isolation. A BOE conversion
ratio of 6 Mcf: 1bbl is based on an energy equivalency conversion method
primarily applicable at the burner tip and does not represent a value
equivalency at the wellhead.


ABOUT PETROGLOBE INC.

PetroGlobe Inc. is listed on the TSX Venture Exchange and trades under the
symbol PGB. PetroGlobe Inc. carries on business directly in Canada.  It conducts
business indirectly in the United States through PetroGlobe Energy USA Ltd. 
Major properties are in the Palo Duro basin of West Texas, Drayton Valley,
Breton, Warburg and Leduc areas of west-central Alberta.

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