TORONTO, Jan. 7 /CNW/ - Pacific Stratus Energy Ltd. (TSX: PSE) announced
today that ISS Canada, Canada's leading independent proxy firm and an
affiliate of Institutional Shareholder Services Inc. (ISS), has recommended
that Pacific Stratus securityholders vote "FOR" the proposed combination of
Pacific Stratus and Petro Rubiales.
"We are very pleased that, after an independent and comprehensive review,
ISS Canada has recommended that Pacific Stratus securityholders vote "FOR" the
Petro Rubiales transaction," said Jose Francisco Arata, CEO of Pacific
Stratus. "In our view, the ISS Canada recommendation confirms the strategic
and economic benefits to be gained from this combination," added Mr. Arata.
Pacific Stratus urges securityholders to vote their BLUE, PINK or YELLOW
proxy "FOR" the proposed transaction with Petro Rubiales today by signing,
dating and returning their proxies. The deadline for receiving proxies is
January 15, 2008 at 10:00 a.m. (EST).
The meeting of Pacific Stratus securityholders will be held at 10:00
a.m. (EST) on January 17, 2008 at The Kensington Room, Le Royal Meridien King
Edward Hotel, 37 King Street East, Toronto, Ontario, Canada.
Pacific Stratus Energy is a Canadian-based oil and gas company that
initiated operations in 2004. The company is focused on identifying attractive
opportunities primarily within the upstream Sub Andean basins. Pacific Stratus
has a current net production of 1,900 barrels of oil per day, with working
interests in the Caguan, Dindal, Rio Seco, Puli B, La Creciente, Moriche,
Guama and Arauca blocks in Colombia and blocks 135, 137 and 138 in Peru. The
company has offices in Toronto, Caracas and Bogota. Further information is
available on our website at www.pacificstratus.com.
For further information:
For further information: Jose Francisco Arata, Chief Executive Officer,
(416) 362-7735, firstname.lastname@example.org