BOGOTA, COLOMBIA–( EMWNews – March 31, 2008) – Petrominerales Ltd. (TSX:PMG) (“Petrominerales”), a 76.5% owned subsidiary of Petrobank Energy and Resources Ltd. (TSX:PBG) (OSLO:PBG) (“Petrobank”), has filed its 2007 Annual Information Form. The Annual Information Form includes Petrominerales’ reserves data and other oil and gas information for the period ended December 31, 2007 as mandated by National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities of the Canadian Securities Administrators.

Copies of Petrominerales’ 2007 Annual Information Form may be obtained from Petrominerales’ website at www.petrominerales.com, on the SEDAR website at www.sedar.com, or by emailing Petrominerales at [email protected].

2007 Annual Report

Petrominerales’ 2007 Annual Report is also now available on Petrominerales’ website at www.petrominerales.com and is in the process of being mailed to all shareholders.

Annual Meeting

The annual meeting of the shareholders of Petrominerales Ltd. will be held on Wednesday, May 21, 2008, at 10:00 am in the Millennium Meeting Room at the Radisson Royal Bogota Hotel, Calle 113 No. 7-65, Bogota, Colombia.

Petrominerales Ltd.

Petrominerales Ltd. is a Latin American-based exploration and production company producing oil in Colombia with 15 exploration blocks covering a total of 1.6 million acres in the Llanos and Putumayo Basins. Petrominerales is 76.5% owned by Petrobank (TSX:PBG) (OSLO:PBG).