Petaquilla Minerals Ltd.
OTC Bulletin Board : PTQMF

Petaquilla Minerals Ltd.

November 10, 2006 14:00 ET

Petaquilla Minerals Ltd.: Change of Chief Financial Officer

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 10, 2006) - Michael Levy, the President of Petaquilla Minerals Ltd. ("Petaquilla" or the "Company") (TSX:PTQ)(OTCBB:PTQMF)(FWB:P7Z), announces the appointment of Tony M. Ricci C.A. as the Company's interim Chief Financial Officer, while the Company conducts a search for a full time Chief Financial Officer. Mr. Ricci is a Chartered Accountant with over 19 years of practice experience, mainly with public companies listed on Canadian and US stock exchanges. His expertise involves auditing and corporate structure advice including the structuring of subsidiaries in Latin America. Previously, he had worked as a Manager with Amec Inc. (formerly H.A. Simons Ltd.) and KPMG as a Senior Accountant. He is also currently the CFO of Norsemont Mining Inc. and has also acted as a director and officer of other TSX Venture Exchange listed companies. Mr. Ricci provides Petaquilla with extensive experience in the areas of corporate finance, acquisitions, financial reporting, corporate governance, accounting and corporate structure advice including the structuring of subsidiaries in Latin America.

The Company's former Chief Financial Officer, John S. Watt C.A., has resigned effective November 3, 2006. Mr. Watt will continue to focus on Sarbanes-Oxley compliance issues for other clients and will take a more active role in junior exploration companies. The Company wishes to thank Mr. Watt for his significant contribution in re-organizing the internal financial controls of the Company, and wishes him well in his future endeavours.

The statements contained in this news release that are not purely historical are forward-looking statements. Forward-looking statements may relate to the success of any of the Company's strategic initiatives, the Company's expectations, beliefs, growth and future prospects, and the Company's position in the market and future opportunities therein. Forward-looking statements may also include, without limitation, any express or implied statement relating to future events, industry performance, general business and economic conditions or circumstances, regulatory and legal requirements, and other matters, many of which are beyond the control of the Company. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those projected. All forward-looking statements included in this news release are based upon information available to the Company as of the date hereof and the Company does not undertake any obligations to update forward-looking statements should circumstances or management's beliefs or opinions change.

On behalf of the Board of Directors of PETAQUILLA MINERALS LTD.

Michael Levy, President and Director

No stock exchange has approved or disapproved the information contained herein.

Contact Information

  • Petaquilla Minerals Ltd.
    Michael Levy
    President and Director
    (604) 694-0021 or Toll Free: 1-877 694-0021
    (604) 694-0063 (FAX)