July 8, 2015

Alfa and Harbour Energy Comment on the Termination of their Agreement to Acquire Pacific Rubiales

Monterrey, N.L. Mexico and Houston, Texas – ALFA, S.A.B. de C.V. (“ALFA”) and Harbour Energy Ltd. (“Harbour Energy”) today commented on the announcement by Pacific Rubiales Energy Corp. (TSX – PRE) (BVC – PREC) (the “Company”) that the Arrangement Agreement dated May 20, 2015 (the “Arrangement Agreement”) entered into by, inter alia, ALFA, Harbour Energy and the Company has been terminated. Consequently, their offer to acquire all of the outstanding shares of the Company (other than the ones held by Alfa), has ceased to remain in effect.
May 20, 2015

Harbour and ALFA to Acquire Pacific Rubiales

WASHINGTON, DC - Harbour Energy Ltd. ("Harbour Energy") is pleased to announce that, together with ALFA, S.A.B. de C.B. (BMV: ALFA A) (BMAD: XALFA), it has entered into a definitive agreement (the "Arrangement Agreement") with Pacific Rubiales Energy Corp. (TSX: PRE) (BVC: PREC) (the "Company") pursuant to which ALFA and Harbour Energy will acquire, through a newly-formed company (the “Purchaser”) jointly owned by each of ALFA and Harbour Energy, all of the outstanding common shares of Pacific Rubiales not already owned by ALFA (or held by the Company in treasury), for C$6.50 per share in cash (the “Transaction”). Following completion of the Transaction, ALFA and Harbour Energy will each own 50% of the Purchaser and the Purchaser will own all of the outstanding common shares of Pacific Rubiales.