O'Hara Administration Co., S.A.

July 09, 2015 08:49 ET

O'Hara Comments on Alfa and Harbour Terminating Arrangement Agreement with Pacific Rubiales

PUNTA PACIFICA, PANAMA--(Marketwired - July 9, 2015) - O'Hara Administration Co., S.A. ("O'Hara" or "we") today acknowledged the decision by ALFA S.A.B. de C.V. ("ALFA") and Harbour Energy Ltd. ("Harbour") to terminate the agreement whereby they proposed to acquire all of the issued and outstanding common shares ("Common Shares") of Pacific Rubiales Energy Corp. ("Pacific Rubiales" or the "Company") for C$6.50 per share (the "Arrangement Agreement").

"We are pleased that the Arrangement Agreement was terminated," said Orlando J. Alvarado of O'Hara. "As one of the Company's largest shareholders, we look forward to engaging with various stakeholders and playing a constructive role in the Company's future."

O'Hara and its joint actors hold 62,639,710 Common Shares of Pacific Rubiales, representing approximately 19.82% of the issued and outstanding Common Shares.

Cautionary Statement Regarding Forward-Looking Information

This press release contains certain statements that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about O'Hara's future plans. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of O'Hara and information available to O'Hara as at the date hereof. O'Hara disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Contact Information

  • Investors: O'Hara Administration Co., S.A.
    Orlando J. Alvarado
    Trump Ocean Club, Punta Colon Street, BL 313, 3rd Floor
    Punta Pacifica, Panama
    +917 434 5615

    Joel Shaffer
    Longview Communications