/NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
CALGARY, March 11 /CNW/ - Petro Andina Resources Inc. (Petro Andina or
the Company) will announce its 2007 year end financial and operating results
on Thursday, March 13, 2008. Petro Andina will host a conference call and live
webcast to discuss these results on Friday, March 14, 2008 beginning at 10:30
am Mountain Daylight Time (12:30 pm Eastern Daylight Time). Media, analysts or
any other interested parties wishing to participate in the call can access it
by calling 403-537-9608 or 1-800-952-4972 (toll free in North America). No
access codes are required.
The live audio webcast of the conference call will be available through
Windows Media Player by following the link posted under the Investor
Relations, Events section of the Company's website at www.petroandina.com.
Following the conclusion of the call, a link to a replay of the webcast will
also be posted on the Company's website.
The Company also announces that Wayne Foo, President and CEO, will
present at the following investor conference:
FirstEnergy East Coast Canadian Energy Conference - New York
Date: Friday, March 14, 2008
Time: 9:08 a.m. Mountain Daylight Time (11:08 a.m. Eastern Daylight Time)
We invite you to visit our website at www.petroandina.com to listen to a
live webcast of Mr. Foo's East Coast Canadian Energy Conference presentation.
The webcast will be archived under the Investor's section of the website.
About Petro Andina Resources Inc.
Petro Andina is engaged in the exploration for and development and
production of oil and natural gas in Argentina and, to a lesser extent, in
Canada. The Corporation has also recently announced the execution of a Joint
Venture Agreement allowing Petro Andina to explore blocks in Trinidad and
Tobago. The Corporation is continuing to develop its existing reserves and to
conduct appraisal and exploration drilling on its 529,000 acre (297,000 acre
net) land position in the Neuquén basin. Petro Andina is headquartered in
This news release does not constitute an offer to sell securities, nor is
it a solicitation of an offer to buy securities, in any jurisdiction. All
sales will be made through registered securities dealers in jurisdictions
where the offering has been qualified for distribution. The securities offered
are not, and will not be, registered under the securities laws of the United
States of America, nor any state thereof and may not be sold in the United
States of America absent registration in the United States or the availability
of an exemption from such registration.
The Toronto Stock Exchange has not received and does not accept
responsibility for the adequacy or accuracy of this news release.
Certain statements regarding Petro Andina Resources Inc. including
management's assessment of future plans and operations, may constitute
forward-looking statements under applicable securities laws and necessarily
involve known and unknown risks and uncertainties, most of which are beyond
Petro Andina's control. These risks may cause actual financial and operating
results, performance, levels of activity and achievements to differ materially
from those expressed in, or implied by, such forward-looking statements.
Such risks and uncertainties include, but are not limited to: the impact
of general economic conditions in Canada and Argentina; industry conditions
including changes in laws and regulations including adoption of new
environmental laws and regulations, and changes in how they are interpreted
and enforced, both in Canada and Argentina; competition; the lack of
availability of qualified personnel; fluctuations in commodity prices; the
results of exploration and development drilling and related activities;
imprecision in reserve estimates; the production and growth potential of Petro
Andina's assets; fluctuations in foreign exchange or interest rates; the
ability to access sufficient capital from internal and external sources; and
obtaining required approvals of regulatory authorities, both in Canada and
Argentina. Many of these risk factors are discussed in further detail in the
Corporation's short form prospectus dated February 29, 2008 on file with
Canadian securities commissions. Readers are also referred to the risk factors
described in other documents that Petro Andina files from time to time with
securities regulatory authorities.
Accordingly, Petro Andina gives no assurance nor makes any
representations or warranty that the expectations conveyed by the
forward-looking statements will prove to be correct and actual results may
differ materially from those anticipated in the forward looking statements.
Petro Andina undertakes no obligation to publicly update or revise any
For further information:
For further information: Melesia Kasha, Investor Relations, Petro Andina
Resources Inc., Phone: (403) 237-1700, Fax: (403) 265-8216; William R.A. Hogg,
Vice President, Finance and Chief Financial Officer, Petro Andina Resources
Inc., Phone: (403) 237-1701, Fax: (403) 265-8216