The Company also announced today the appointment of Lazard Frères & Co. LLC as its financial advisor in order to assist with the negotiations, which are ongoing. The Company is not aware of any other material information that would account for the recent share price movement. About Pacific: Pacific is a Canadian public company and a leading explorer and producer of natural gas and crude oil, with operations focused in Latin America. The Company has a diversified portfolio of assets with interests in more than 85 exploration and production blocks in seven countries including Colombia, Peru, Guatemala, Brazil, Guyana, Papua New Guinea, Mexico and Belize. The Company's strategy is focused on sustainable growth in production & reserves and cash generation. Pacific Exploration & Production is committed to conducting business safely, in a socially and environmentally responsible manner.