TORONTO, Monday, January 7, 2008 - Pacific Stratus Energy Ltd. (TSX: PSE) announced today that ISS Canada, Canada's leading independent proxy firm and an affiliate of Institutional Shareholder Services Inc. (ISS), has recommended that Pacific Stratus securityholders vote "FOR" the proposed combination of Pacific Stratus and Petro Rubiales.
"We are very pleased that, after an independent and comprehensive review, ISS Canada has recommended that Pacific Stratus securityholders vote "FOR" the Petro Rubiales transaction," said Jose Francisco Arata, CEO of Pacific Stratus. "In our view, the ISS Canada recommendation confirms the strategic and economic benefits to be gained from this combination," added Mr. Arata.
Pacific Stratus urges securityholders to vote their BLUE, PINK or YELLOW proxy "FOR" the proposed transaction with Petro Rubiales today by signing, dating and returning their proxies. The deadline for receiving proxies is January 15, 2008 at 10:00 a.m. (EST).
The meeting of Pacific Stratus securityholders will be held at 10:00 a.m. (EST) on January 17, 2008 at The Kensington Room, Le Royal Meridien King Edward Hotel, 37 King Street East, Toronto, Ontario, Canada.
Pacific Stratus Energy is a Canadian-based oil and gas company that initiated operations in 2004. The company is focused on identifying attractive opportunities primarily within the upstream Sub Andean basins. Pacific Stratus has a current net production of 1,900 barrels of oil per day, with working interests in the Caguan, Dindal, Rio Seco, Puli B, La Creciente, Moriche, Guama and Arauca blocks in Colombia and blocks 135, 137 and 138 in Peru. The company has offices in Toronto, Caracas and Bogota. Further information is available on our website at www.pacificstratus.com.
FOR FURTHER INFORMATION
Jose Francisco Arata
Chief Executive Officer
(416) 362-7735
jfarata@pacificstratus.com
Renmark Financial Communications Inc.
Christopher Wells : cwells@renmarkfinancial.com
Melanie Lecavalier : mlecavalier@renmarkfinancial.com
Tel. : (514) 939-3989
Fax : (514) 939-3717
www.renmarkfinancial.com
