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

Petrobank Energy and Resources Ltd.

March 20, 2007 22:59 ET

Petrobank Files Annual Information Form

CALGARY, ALBERTA--(CCNMatthews - March 20, 2007) - Petrobank Energy and Resources Ltd. ("Petrobank") (TSX:PBG)(OSLO:PBG) has today filed its Annual Information Form, which includes Petrobank's reserves data and other oil and gas information for the period ended December 31, 2006 as mandated by National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities of the Canadian Securities Administrators.

Copies of Petrobank's 2006 Annual Information Form 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.

Petrobank 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 is developing a solid production platform from low risk gas opportunities in central Alberta along with light oil resource plays in southeast Saskatchewan, complemented by new exploration projects and a large undeveloped land base. The Latin American Business Unit is operated by Petrobank's 80.7% owned, TSX-listed subsidiary, Petrominerales Ltd. (trading symbol: PMG), which produces oil through two Incremental Production Contracts in Colombia and has exploration contracts covering 1.5 million acres in the Llanos and Putumayo Basins. The Heavy Oil Business Unit is operated by Petrobank's 84% owned subsidiary, WHITESANDS Insitu Ltd. ("WHITESANDS"). WHITESANDS owns 39,680 acres of oil sands leases with an estimated 2.6 billion barrels of gross bitumen-in-place and operates the WHITESANDS project, which is field-demonstrating 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 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 Ruttan
    Vice-President Finance
    (403) 750-4400
    (403) 266-5794 (FAX)
    Email: ir@petrobank.com
    Website: www.petrobank.com