O'Hara Administration Co., S.A.

May 19, 2015 19:49 ET

O'Hara Announces Opposition to Proposed Acquisition of Pacific Rubiales by ALFA and Harbour Energy

PUNTA PACIFICA, PANAMA--(Marketwired - May 19, 2015) - O'Hara Administration Co., S.A. ("O'Hara") announced today that it and persons acting jointly or in concert with it do not support the proposed acquisition by ALFA, S.A.B. de C.V. and Harbour Energy Ltd. of the outstanding common shares of Pacific Rubiales Energy Corp. ("Pacific Rubiales") and intend to oppose the acquisition.

O'Hara and its joint actors (as named in a press release dated May 7, 2015 issued by O'Hara and now including Cinainvest Holdings SA) own approximately 19.50% of the issued and outstanding common shares of Pacific Rubiales.

In opposing the proposed acquisition, O'Hara may take any and all actions it considers advisable, including acquiring additional common shares of Pacific Rubiales, communicating with other shareholders, soliciting proxies and retaining its own financial, legal and proxy solicitation advisors. While O'Hara has no current intention of proposing its own transaction, it may reconsider doing so if circumstances change.

O'Hara and its joint actors will review their options and share ownership position as circumstances continue to evolve and taking into account market conditions and other relevant factors in the future.

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