Pacific Rubiales Energy Corp. announced that it has been awarded three blocks in Brazil's 11th Bid Round (the "Bid Round") organized by the Agencia Nacional do Petróleo, Gás Natural e Biocombustíveis of Brazil ("ANP"). The Company participated in the Bid Round through its wholly-owned subsidiary, Pacific Brasil Exploração e Produção de Óleo e Gás Ltda. The blocks awarded to the Company are located in the Foz do Amazonas Basin (one block) and in the Pará-Maranhão Basin (two blocks) in the northern deep water of offshore Brazil, and have a total area of approximately 2,300 km(2) gross (1,153 km(2) net). The blocks were acquired in consortiums that include as partners the companies Queiroz Galvão Exploração e Produção S.A. ("QGEP") and Premier Oil PC ("Premier"). All three blocks have an initial five year exploration phase with the option to extend the exploration phase by an additional three years.

Pacific Rubiales Energy Corp. updated on the oil discovery in the Bilby-1 exploration well, drilling on block S-M-1166, in the Santos Basin, offshore Brazil. The Bilby-1 well was drilled as part of an agreement announced by the Company on September 18, 2012, as a minimum work commitment for five offshore blocks (S-M-1101, S-M-1102, S-M-1037, S-M-1165 and S-M-1166), where the Company holds a 35% participating interest (subject to approval by Brazil's Agência Nacional do Petróleo, Gás Natural e Biocombustíveis ("ANP")). The net oil bearing reservoir based on petrophysical logs is estimated to be 70 metres (230 feet) with porosities up to 23%. The confirmed stratigraphic extent of the oil bearing reservoirs now includes interbedded sands in the Eocene, Paleocene and Maastrichtian (Late Cretaceous) age rocks. The Bilby-1 well is positioned approximately 150 metres (492 feet) down dip from the trap crest as indicated on seismic data, creating potential for additional prospectivity higher in the structure.

Pacific Rubiales Energy Corp. Presents at 8th Annual LatAm Ceo Conference, May-15-2013 . Venue: New York, New York, United States.