Petro Andina Resources Inc. files IPO preliminary prospectus and announces appointment of Chairman


    CALGARY, April 4 /CNW/ - Petro Andina Resources Inc. (the "Corporation")
is pleased to announce that it has filed and received receipts for the
preliminary prospectus for its initial public offering of shares from the
securities regulatory authorities in each of the provinces of Alberta, British
Columbia, Saskatchewan, Manitoba, Ontario, Nova Scotia, New Brunswick, Prince
Edward Island and Newfoundland and Labrador. The offering will be carried out
by a syndicate of agents led by FirstEnergy Capital Corp. and including CIBC
World Markets Inc., Scotia Capital Inc. and Tristone Capital Inc.
    An electronic copy of the preliminary prospectus may be obtained via
    The Corporation also announced that Mr. Norman McIntyre P.Eng has been
appointed Chairman of the Board of Directors (the "Board"). Mr. McIntyre was
first elected to the Petro Andina Board in June 2005 and was subsequently
appointed Vice Chairman. Mr. McIntyre previously served as President of
Petro-Canada and is well-known in the international oil community. He
currently serves as a director of Canadian Natural Resources Limited and as
Chairman of Fortress Energy Inc., both listed on the Toronto Stock Exchange.
    Mr. McIntyre replaces Mr. Glen Russell P.Eng. While stepping aside from
the Board, Mr. Russell strongly endorsed the filing by the Corporation of a
preliminary prospectus for public listing, noting the appointment of a new
chairman was very appropriate as the Corporation is entering an exciting new
stage of its growth. Glen Russell has been associated with Petro Andina since
its incorporation in July of 2003. The Board and Management thanked Glen for
his contributions as a founder of the Corporation.

    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 is continuing its program drilling appraisal and
exploration wells on its 370,000 gross acre 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.

    Forward-Looking Statements

    Certain information set forth in this press release, including a
discussion of future plans and operations, contains forward looking statements
that involve substantial known and unknown risks and uncertainties. These
forward-looking statements are subject to numerous risks and uncertainties,
some of which are beyond management's control, including but not limited to,
the impact of general economic conditions, industry conditions, fluctuation of
commodity prices, fluctuation of exchange rates, environmental risks, industry
competition, availability of qualified personnel and management, stock market
volatility, timely and cost effective access to sufficient capital from
internal and external sources. Actual results, performance or achievement
could differ materially from those expressed in or implied by these
forward-looking statements. 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, CFO,
Petro Andina Resources Inc., Phone: (403) 237-1701, Fax: (403) 265-8216

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