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UPDATE: Pacific Rubiales Down Nearly 3% Despite 55% Increase in Prospective Resources in its Exploration Blocks

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Pacific Rubiales Energy Corp. (PRE.TO) announced the results of an independent resource assessment for certain of the company's exploration blocks in Colombia, Peru, Brazil, Guyana, Guatemala and Papua New Guinea.

The 2012 Resource Report shows that the best case estimate of total gross Prospective Resources attributed to the company has grown to 4.3 Bboe from 2.8 Bboe in 2011, a 55% increase. The best case estimate of total gross Contingent Resources has grown to 168 MMboe from just 4 MMboe booked in 2011.

PRE was down nearly 3% to $20.45, trading close to 52-week low $19.15.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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