Businessweek

Pacific Rubiales Energy Corp. engages in the exploration, development, and production of oil and natural gas activities located in the Republic of Colombia and in the Republic of Peru. In 2008, the company acquired 100% of Kappa Energy Holdings Ltd. (Kappa), an oil and gas exploration and production company. Kappa has gross acreage of 747,000 gross acres and consisting of the following blocks:Abanico25%, Chipalo 100%, Cicuco 94%, Buganviles 49.4%, Guásimo 100%, Arrendajo 32.5%, Las Quinchas 50%, Alhucema 50%, Topoyaco 50% and. Cerrito 81%. In 2008, the company acquired Pacific Stratus Energy Ltd., which holds a 100% interest in the La Creciente producing block, 90.6% interest in the Guaduas producing block, 27.3% interest in the Rio Ceibas producing block, 80% interest in the Moriche exploration block, 100% interest in the Guama exploration block, 100% interest in the Tacacho technical evaluation agreement (TEA) 50% interest in the Puli-7 exploration well, 100% SSJN-3, 50% SSJN-7, and 60% CR-1, all located in Colombia. Pacific Stratus also holds 100% interests in exploration blocks 135, 137 and 138 located in Peru. The company owns 75% interest in Rubiales Holdings Ltd., which produces heavy crude oil from its Rubiales and Piriri concessions. The Quifa is in the exploration stage of development. It also holds exploration interests in the following blocks: Jagueyes (100%), Alicante (55%), CP1 (100%), CP6 (50%), CPO1 (100%), CPO12 (40%), CPO14 (62.5%). Exploration The company has 34 exploration and production blocks: 31 in Colombia and 3 in Peru. Significant Events On January 18, 2010, Cap-Link Ventures Ltd. announced that it’s wholly owned subsidiary Petrodorado Ltd. has signed definitive agreement with Pacific Rubiales Energy Corp. (PRE) to farm-in on Moriche block- Mauritia East prospect in Colombia held by PRE. History The company was incorporated in 1985. It was formerly known as Petro Rubiales Energy Corp. and changed its name to Pacific Rubiales Energy Corp. in January 2008.