Director's Dealing
July 31 2009 - 12:29PM
UK Regulatory
TIDMPELE
RNS Number : 7172W
Petrolatina Energy PLC
31 July 2009
31 July 2009
PetroLatina Energy Plc
("PetroLatina" or the "Company")
Director's Dealing
PetroLatina (AIM: PELE), the oil and gas exploration and production company
focused on Latin America, was today notified that on Thursday 30 July 2009, Ciro
Mendez, a non-executive director of the Company, purchased 35,000 ordinary
shares of US$0.10 each in the Company ("Ordinary Shares") at a price of 42 pence
per Ordinary Share.
Following the purchase, Mr Mendez holds 35,000 Ordinary Shares, representing
approximately 0.08 per cent. of the Company's issued ordinary share capital.
Tribeca Oil and Gas, Inc., a portfolio investment company of Tribecapital
Partners S.A., a Colombian Private Equity Firm of which Mr Mendez is an
Investment Manager, and its related companies now hold, in aggregate, 17,022,704
ordinary shares, representing approximately 37.37 per cent. of the Company's
enlarged issued share capital and warrants over a further 1,875,260 ordinary
shares which are automatically exercisable if, and to the extent that, any
exercise of the Company's other existing outstanding 3,482,625 warrants occurs.
In addition, Tribeca Oil and Gas Financing Inc. currently holds an aggregate
principal amount of US$11.165 million of convertible 12 per cent. loan notes due
2011.
Enquiries:
+-----------------------------------------------------+------------------------+
| PetroLatina Energy Plc |
+------------------------------------------------------------------------------+
| Juan Carlos Rodriguez, Chief Executive Officer | Tel: +57 1627 8435 / |
| | + 44 7525 009616 |
+-----------------------------------------------------+------------------------+
| Pawan Sharma, Executive Vice President - Corporate | Tel: +44 (0)207 956 |
| Affairs | 2821 |
+-----------------------------------------------------+------------------------+
| Strand Partners Limited |
+------------------------------------------------------------------------------+
| Simon Raggett / Matthew Chandler | Tel: +44 (0)20 7409 |
| | 3494 |
+-----------------------------------------------------+------------------------+
| Financial Dynamics |
+------------------------------------------------------------------------------+
| Ben Brewerton / Susan Quigley | Tel: +44 (0)20 7831 |
| | 3113 |
+-----------------------------------------------------+------------------------+
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 the first three
wells and a 20% working interest in future wells. In Colombia, the Company
currently holds 40% and 20% interests in the Los Angeles and Santa Lucía fields
on the Tisquirama licence respectively, and a 100% interest in the Doña María
field. 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 Río Zulia-Ayacucho pipeline in
the prolific Catatumbo basin which transports crude oil. Present
exploration/exploitation activities in this area should increase the volume of
crude oil transported resulting in an increased cash flow. Further information
is available on the Company's website (www.petrolatinaenergy.com).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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