RNS Number:5262Q
Petrolatina Energy PLC
01 February 2007

This replaces the announcement entitled "Management Changes" that was announced
at 07.00 on Thursday 1st February 2007 under the RNS number 5160Q which showed
the incorrect contact name at the Company.  The full amended announcement is
shown below.



                             PetroLatina Energy Plc

                        ("PetroLatina" or the "Company")

                               MANAGEMENT CHANGES


PetroLatina Energy Plc (AIM: PELE), an independent oil and gas exploration,
development and production company, focused on Latin America and currently
producing approximately 500 barrels of oil per day, announces the following
management update.



Nicholas Gay, Chief Executive Officer, has advised the Company he will be
stepping down from the Executive Board to pursue other opportunities but has
agreed to remain as a Non-Executive Director, with effect from 31st January
2007.



Mark Patterson has been appointed to the Company's Board as an Executive
Director with immediate effect. Mark has over 25 years experience in the oil and
gas industry throughout the Americas, which significantly strengthens the
management team in Central and South America.



Mark is Managing Partner of Calypso Energy LLC, an independent exploration and
development company and part of the Calypso Energy group of companies he
co-founded in 2000.



Mark was previously Chief Executive Officer of Compania General de Combustibles,
one of Argentina's premier oil and gas companies with more than $620 million of
assets. During his decade of living and working in South America, he oversaw
upstream and midstream projects in Argentina, Brazil, Bolivia, Ecuador,
Guatemala, Uruguay, and Venezuela. A geophysicist by background, he holds a
Bachelors degree in Geology from the University of California and an MBA from
Houston Baptist University.  Mark is fluent in the Spanish language.



Greg Smith, Executive Chairman of PetroLatina since its IPO in January 2005, and
Jay Scott will in the interim period take on the CEO's responsibilities. Jay,
COO, has been appointed Interim President and COO of Petrolatina in order to
take on the additional responsibilities.  The Board of Directors have appointed
executive recruitment company, Spencer Stuart, which specialises in Latin
American oil & gas executives, to find a permanent replacement CEO.



Greg Smith, Chairman of PetroLatina, commented:



"Mark has a great deal of experience in South America, not only in terms of the
regional relations but also in day to day production that will be a significant
benefit to the future development and growth of PetroLatina.



"At the same time, we are sorry to see Nicholas step down from CEO and wish him
well in his future endeavours outside PetroLatina. He leaves behind a sound
operating platform and a Company that is well positioned for solid growth in
2007".



"Additionally and by way of an operational update, the initial phase of the
workover at the Serafin gas accumulation in Colombia has been completed as
expected. We now anticipate the accumulation to be somewhat larger than had
initially been expected. Production testing will now commence and we expect this
to be finalised during February 2007. This project offers immediate cash flow
and economic returns and we anticipate it to materially increase the Company's
annual cash flow from its Colombian operations. PetroLatina has a 50% interest
in the development"


                                     -ENDS-


                                                               1st February 2007


For further information, please contact:


PetroLatina Energy         Greg Smith      gcs@petrolatinaenergy.com     +44(0)2072974360
www.petrolatinaenergy.com

Pelham Public Relations    Charles Vivian  Charles.vivian@pelhampr.com   +44(0)2077436672

                           Philip Dennis   philip.dennis@pelhampr.com    +44(0)2077436363




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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