May 20, 2015
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.