Pacific Rubiales Energy Announces Additional Exploration Success at Quifa
Block and Updates on Production Tests

TORONTO, Sept. 21 /CNW/ - Pacific Rubiales Energy Corp. (TSX: PRE) announced today another oil discovery at its Quifa-9 well, drilled as an appraisal well on Prospect "D", at the Quifa Block, located in the Llanos Basin of Colombia.

Quifa-9 Well

The Quifa-9 well found the top of the reservoir, the Carbonera basal sands at 2,970 feet measured depth (MD), or 2,304 feet true vertical depth at sub-sea level (TVDSS) and the oil - water contact (OWC) at 2,999 feet MD, or 2,333 feet TVDSS. The petrophysical evaluation of the well indicates a net pay zone of 17 feet with porosities over 32%. The Quifa-9 was drilled as an appraisal well on prospect "D", at 10 kilometers from the discovery well Rub-147 drilled during the last quarter of 2008 (refer to press release dated October 2, 2008). This well extends the discovery of Prospect "D" to the west and confirms approximately 10,000 acres (more than 40 km2) for the whole prospect as well as an hydrocarbon column of more than 100 feet measured from the crest of the structure to the average OWC, with net pays ranging from 17 to 35 feet. The company is now planning to test the well and complete it as a vertical hole producer.

This is the fifth consecutive successful well that the Company has drilled in the Quifa Block in its attempt to confirm the extension of the Rubiales field to the southwest. The discovery in Quifa 9, along with the other four wells, Quifa-5 and Quifa-8 on prospect "E", Quifa-I-9 on prospect "I"; and Quifa-7 on prospect "H", will allow for the incorporation of more than 15,000 acres of new reserves with the same characteristics of the Rubiales field.

The Company is now preparing the necessary documentation to request the commerciality for the whole southwestern Quifa area. Also, the company is well advanced in designing an aggressive drilling campaign to develop these discoveries in the short term. It is important to note that the production at Quifa will benefit from the sliding royalties scale instituted in Colombia which is dependent on production levels and crude quality, and will result in a lower level of royalties as compared with the Rubiales Block.

Update of production tests on wells Quifa-5, Quifa-7 and Quifa-8.

The table below summarizes the most recent average production for Quifa-5, Quifa-7 and Quifa-8. Quifa-I-9 test results are still pending for a mechanical condition to be solved at the well bore.

    
    -------------------------------------------------------------------------
    Well                     Production period       Average bopd
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    Quifa-5                  5 months                169
    -------------------------------------------------------------------------
    Quifa-7                  7 days                  154
    -------------------------------------------------------------------------
    Quifa-8                  16 days                 178
    -------------------------------------------------------------------------
    

All these wells have been tested with the restrictions on the flow rate due to the limitations of transporting the oil to the central production facilities located in the Rubiales Field and the ODL pipeline.

The Quifa Block is an exploratory block in which Meta Petroleum (a wholly-owned subsidiary of Pacific Rubiales) holds a 60% working interest and Ecopetrol S.A. holds a 40% working interest.

Pacific Rubiales, a Canadian-based company and producer of natural gas and heavy crude oil, owns 100 percent of Meta Petroleum Corp., a Colombian oil operator which operates the Quifa block in the Llanos Basin in association with Ecopetrol S.A., the Colombian national oil company. The company is focused on identifying opportunities primarily within the eastern Llanos Basin of Colombia as well as in other areas in Colombia and northern Peru. Pacific Rubiales has a current net production of approximately 38,000 barrels of oil equivalent per day, with working interests in 32 blocks in Colombia and Peru.

Boe may be misleading, particularly if used in isolation. A boe conversion ratio of 6 mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

Cautionary Note Concerning Forward-Looking Statements

This press release contains forward-looking statements. All statements, other than statements of historical fact, that address activities, events or developments that the company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding estimates and/or assumptions in respect of production, revenue, cash flow and costs, reserve and resource estimates, potential resources and reserves and the company's exploration and development plans and objectives) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the company based on information currently available to the company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: uncertainty of estimates of capital and operating costs, production estimates and estimated economic return; the possibility that actual circumstances will differ from the estimates and assumptions; failure to establish estimated resources or reserves; fluctuations in petroleum prices and currency exchange rates; inflation; changes in equity markets; political developments in Colombia or Peru; changes to regulations affecting the company's activities; uncertainties relating to the availability and costs of financing needed in the future; the uncertainties involved in interpreting drilling results and other geological data; and the other risks disclosed under the heading "Risk Factors" and elsewhere in the company's annual information form dated April 1, 2009 filed on SEDAR at www.sedar.com. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

%SEDAR: 00007953E

SOURCE Pacific Rubiales Energy Corp.

For further information: For further information: Mr. Ronald Pantin, Chief Executive Officer and Director; Mr. Jose Francisco Arata, President and Director, (416) 362-7735; Ms. Belinda Labatte, (647) 428-7035

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Pacific Rubiales Energy Corp.

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