Petrobank Energy and Resources Ltd.
TSX : PBG.NT.A
TSX : PBG
OSLO STOCK EXCHANGE : PBGN

Petrobank Energy and Resources Ltd.

March 30, 2006 12:02 ET

Petrobank Files 2005 Year-End Disclosure Documents

CALGARY, ALBERTA--(CCNMatthews - March 30, 2006) - Petrobank Energy and Resources Ltd. (TSX:PBG) (TSX:PBG.NT.A) (TSX:OSLO:PBGN) ("Petrobank") today filed its Annual Information Form, which includes Petrobank's reserves data and other oil and gas information for the period ended December 31, 2005 as mandated by National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities of the Canadian Securities Administrators. Petrobank's 2005 annual report including its audited consolidated financial statements and accompanying notes for the period ended December 31, 2005 and related Management Discussion and Analysis have also been filed on SEDAR.

Petrobank's annual general meeting of the shareholders will be held on Tuesday, May 2, 2006 at 3:00 p.m. (Calgary time) in the Devonian Room of the Calgary Petroleum Club, 319 - 5th Avenue S.W., Calgary, Alberta.

Copies of Petrobank's 2005 disclosure documents may be obtained on Petrobank's website at www.petrobank.com, on the SEDAR website at www.sedar.com, or by emailing Petrobank at ir@petrobank.com.

Petrobank Energy and Resources Ltd. is a Calgary-based oil and natural gas exploration and production company with operations in western Canada and Colombia. The Company operates high-impact projects through three business units. The Canadian Business Unit combines conventional oil and gas operations with two higher potential coal bed methane opportunities. The Latin American Business Unit produces oil through two Incremental Production Contracts in Colombia and has new exploration contracts covering a total of 2.5 million acres in the Llanos and Putumayo Basins. The Heavy Oil Business Unit owns 38,400 acres of oil sands leases and is constructing the WHITESANDS pilot project to field-demonstrate Petrobank's patented THAI™ heavy oil recovery process. THAI™ is an evolutionary in-situ combustion technology for the recovery of bitumen and heavy oil that combines a vertical air injection well with a horizontal production well. THAI™ integrates existing proven technologies and provides the opportunity to create a step change in the development of heavy oil resources globally.

Contact Information

  • Petrobank Energy and Resources Ltd.
    John D. Wright
    President and Chief Executive Officer
    (403) 750-4400
    or
    Petrobank Energy and Resources Ltd.
    Chris J. Bloomer
    Vice-President Heavy Oil and Chief Financial Officer
    (403) 750-4400
    or
    Petrobank Energy and Resources Ltd.
    Corey C. Ruttan
    Director Corporate Finance and Investor Relations
    (403) 750-4400
    (403) 266-5794 (FAX)
    Email: ir@petrobank.com
    Website: www.petrobank.com