RNS Number:0957T
Petrolatina Energy PLC
25 April 2008

25 April 2008

                             PetroLatina Energy Plc

                        ("PetroLatina" or the "Company")



                                Financing Update

                        Proposed $25 million investment



PetroLatina, the oil and gas exploration and production company focused on
Colombia, with interests in Guatemala, announces that it has entered into a
non-binding agreement with Tribecapital Partners S.A. ("Tribeca"), a Colombian
Private Equity Firm. Under the agreement, Tribeca has agreed to invest US$25
million in PetroLatina at a premium to the current share price for the
development of the Company's promising exploration prospects and producing
assets in Colombia. The agreement is subject to the satisfaction of a number of
conditions precedent, including completion of Tribeca's legal and technical due
diligence and execution of a definitive investment agreement. Further
announcements regarding this proposed investment will be released in due course.



Greg Smith, Chairman of PetroLatina, commented:



"This will represent a major investment in the Company. We believe that it
recognises the true value of the Company, and will enable PetroLatina to enter
the second phase of its development programme in Colombia, increase cash flow
dramatically, and help develop and commercialise the Company's reserves."



Enquiries:


PetroLatina Energy Plc
Greg Smith                   Executive Chairman                                     Tel: +44 (0)207 808 4851
Pawan Sharma                 Executive Vice President - Corporate Affairs           Tel: +44 (0)207 808 4851


Strand Partners Limited
Simon Raggett                                                                        Tel: +44 (0)20 7409 3494
Matthew Chandler                                                                     Tel: +44 (0)20 7409 3494


Financial Dynamics
Ben Brewerton                                                                        Tel: +44 (0)20 7831 3113
Susan Quigley





Additional Information on PetroLatina Energy Plc

PetroLatina Energy Plc (AIM: PELE), formerly known as Taghmen Energy Plc, was
founded in 2004. The Company is presently focused on Colombia after the sale of
its assets in Guatemala in which it retains a 20% interest in three wells to be
drilled in the near future. In Colombia, the Company holds 40% and 20% interests
in the Los Angeles and Santa Lucia fields on the Tisquirama licence,
respectively, and a 100% interest in the Dona Maria field which together
provided a daily production of approximately 450 barrels per day in the first
six months of 2007. In November 2007 the Company secured the extension of the
Tisquirama licence for the economic life of the fields. In April 2006 the Group
acquired an interest in two exploration blocks with an 85% interest in Midas and
an 80% interest in La Paloma. PetroLatina also owns the Rio Zulia-Ayacucho
pipeline in the prolific Catatumbo basin which transports crude oil. Present
exploration/exploitation activities in this area should increase the volume of
the crude oil resulting in an increased cash flow. Further information is
available on the Company's website (www.petrolatinaenergy.com).



About Tribecapital Partners S.A.

Tribeca Fund I, FCP, is a Colombian private equity fund managed by Tribecapital
Partners S.A. The fund has total investment commitments of US$135 million, from
multilateral investors and institutional investors in Colombia such as pension
and severance pay funds. Further information is available on Tribeca's website
(www.tribeca.com.co).




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