Pacific Rubiales Announces Results at La Creciente D-1 Well



    TORONTO, Feb. 4 /CNW/ - Pacific Rubiales Energy Corp. (TSV: PEG)
announced today that test results of the DST-1 indicate a production potential
of 27.7 million cubic feet per day using half inch choke. These results come
from the completion of the short production test at the La Creciente D-1
(LCD-1) well, located at Prospect D of the La Creciente Block in the Lower
Magdalena Basin of Colombia. This well was drilled to 10,711 feet True
Vertical Depth at Sub-Sea level and it represents a new discovery on a
structure independent from the existing producing "prospect A".

    
    The DST-1 test results were as follows (Interval 10,836-10,848 feet):

    ----------------------------------------
             LA CRECIENTE D-1 WELL
    ----------------------------------------
    CHOKE             WHFP         Gas Rate
    /64"               psi            mmcfd
    ----------------------------------------

    ----------------------------------------
    12               5,233              4.6
    ----------------------------------------
    16               5,107              9.0
    ----------------------------------------
    20               4,872             13.4
    ----------------------------------------
    24               4,609             17.9
    ----------------------------------------
    32(*)            3,811             27.7
    ----------------------------------------
    (*) Well Head Flowing Pressure (WHFP) and gas rate (mmcfd equals million
    cubic feet per day) estimated by extrapolation of 2nd order polynomial
    function based on real data.
    

    Commenting on these results, Ronald Pantin, Chief Executive Officer,
stated "We are very pleased with this test at Prospect D because it confirms
the gas production potential that the La Creciente block has. It has also
provided new information to reduce the uncertainty of the geological model of
this area to assist in the exploration of the other six prospects located at
La Creciente."
    The Cienaga de Oro Reservoir consists of 483 feet of well-sorted coarse
to fine grain sandstones (upper unit) and an interbedded sequence of silts,
shales and fine grain sandstones. This unit was logged by Schlumberger using
resistivity, gamma ray and density Logging While Drilling tools. The
petrophysical evaluation indicated a Gas Water Contact (GWC) at 10,131 feet
True Vertical Depth at Sub-Sea level, 32 feet below the top of the Cienaga de
Oro formation. However, the crest of the structure of prospect D is around
9860 feet True Vertical Depth at Sub-Sea level and when confronting it with
the depth of the GWC, a gas column width measuring over 272 feet is indicated.

    Pacific Rubiales, a Canadian-based company and producer of heavy crude
oil and natural gas, owns 100 percent of Meta Petroleum Limited, a Colombian
oil and gas operator which operates the Rubiales and Piriri oil fields in the
Llanos Basin in association with Ecopetrol S.A. the Colombian, state-owned oil
company. The company is focused on identifying opportunities primarily within
the eastern Llanos Basin of Colombia and the upstream Sub Andean basins.
Pacific Rubiales has a current net production of approximately 17,500 barrels
of oil equivalent per day, with working interests in the Rubiales, Piriri and
Quifa concessions and 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, Vancouver, Caracas and Bogota.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this news release.





For further information:

For further information: Mr. Ronald Pantin, Chief Executive Officer and
Director, (604) 688-9180 - or - Mr. Jose Francisco Arata, President and
Director, (416) 362-7735

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Pacific Rubiales Energy Corp.

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