Petro Andina invites analysts, shareholders and media to attend its third quarter conference call and webcast


    CALGARY, Oct. 31 /CNW/ - Petro Andina Resources Inc. (Petro Andina or the
Company) will announce its 2007 third quarter financial and operating results
on Tuesday, November 6, 2007. Petro Andina will host a conference call and
live webcast to discuss these results on Wednesday, November 7, 2007 beginning
at 10:00 am Mountain Standard Time (12:00 pm Eastern Standard 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
Following the conclusion of the call, a link to a replay of the webcast will
also be posted on the Company's 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. The Corporation is continuing
to develop its existing reserves and to conduct appraisal and exploration
drilling on its 457,000 acre (260,000 acre net) land position in the Neuquén
basin. Petro Andina is headquartered in Calgary, Canada.

    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.

    Forward-Looking Statements

    This document contains forward-looking information that involves known
and unknown risks, uncertainties and other factors that may cause actual
results, performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by the
forward-looking information. For this purpose, any statements that are
contained herein that are not statements of historical fact may be deemed to
be forward-looking information, including Management's discussion of the
Company's plans and future operations. Without limiting the foregoing, the
words "believes," "anticipates," "plans," "intends," "will," "should,"
"expects," "projects," and similar expressions are intended to identify
forward-looking information. The associated risks include, but are not limited
to, those associated with competition, the ability to generate revenue and
exploit operating margins, capital resources, the use of certain technologies
and materials, annual impairment tests, labour relations, insurance, damage
from weather and other disasters, operating and maintenance risks and
environmental risks, new information regarding reserves, changes in demand for
and volatility of commodity prices of crude oil and natural gas, legislative,
regulatory and political changes along with other factors discussed in this
presentation. The risks outlined should not be construed as exhaustive.
Accordingly, no assurance can be given that any events anticipated by the
forward-looking statements will transpire or, if they do, what their impact on
the Company might be. Investors are cautioned not to place undue reliance on
any forward-looking information. The forward-looking statements are made as of
the date hereof, and the Company undertakes no obligation to update or revise
any forward-looking information to reflect new events or circumstances except
as required by law. The Company assumes no responsibility or liability of any
nature whatsoever for the forward-looking statements contained herein. For
more information please contact Petro Andina Resources Inc.

For further information:

For further information: Melesia Kasha, Investor Relations, Petro Andina
Resources Inc., Phone: (403) 237-1700, Fax: (403) 265-8216; Bill Hogg, Chief
Financial Officer, Petro Andina Resources Inc., Phone: (403) 237-1701, Fax:
(403) 265-8216

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