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Gold/Mining/Energy : Petrolifera Petroleum Limited PDP.TO -- Ignore unavailable to you. Want to Upgrade?

To: Condor who wrote (61)	8/11/2008 4:28:11 PM
From: Cal Gary	Respond to of 62

Petrolifera plans drilling in Colombia and Peru 2008-08-11 14:28 ET - News Release Mr. Richard Gusella reports PETROLIFERA PETROLEUM LIMITED SECURES DRILLING RIG FOR UPCOMING COLOMBIA AND PERU DRILLING CAMPAIGNS Petrolifera Petroleum Ltd. has signed a letter of intent with Petrex SA, whereby Petrex has agreed to provide a heli-transportable drilling rig for a 24-month period from commencement of well operations in Colombia with an option for a further 12-month period. The formal contract is currently being finalized and rig mobilization is expected to begin shortly, with a view to being on location at the La Pinta prospect, situated within the Sierra Nevada I licence in the Lower Magdalena basin onshore Colombia, on or before Sept. 30, 2008. It is anticipated it will take 75 to 90 days to drill the La Pinta well. Thereafter, Petrolifera plans to drill the Brillante prospect on the same licence. After completion of the initial two-well drilling program in Colombia, Petrolifera anticipates it will mobilize the rig to Peru for the drilling of the company's first Peruvian exploratory well, currently anticipated to be drilled on block 107 in the Ucayali basin onshore Peru. We seek Safe Harbor.