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PetroLatina EnergyExploration and Production

in Latin AmericaOil Barrel 22nd February 2007

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Forward Looking Statement

Certain statements contained in this document constitute “forward-looking statements”. Such forward-looking statements involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of the relevant entities, or the results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These forward-looking statements are based on numerous assumptions regarding the Company’s present and future business strategy and the environment in which the Company will operate in the future. There can be no assurance that the results and events contemplated by the forward-looking statements in this document, will, in fact, occur. The Company undertakes no obligation publicly to release the result of any revisions to any forward-looking statements in this presentation that may occur due to any change in the Company’s expectations or to reflect events or circumstances after the date of this presentation. All subsequent written or oral forward-looking statements attributable to the Company, or persons acting on behalf of the Company, are expressly qualified in their entirety by the cautionary statements contained throughout this presentation. As a result of these risks, uncertainties and assumptions, a prospective investor should not place undue reliance on these forward-looking statements.

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Aims and Goals

• To build an independent oil and gas company in Latin America

• Provide strong growth returns to shareholders

• To do so in a socially aware fashion ensuring:– Protection of the environment – Development of the local employees

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Highlights

• Company Listed on London Stock Exchange on 14th January 2005.

• Operations established in Guatemala on 6-93 licence.

• Completed one well and two work-overs on the Las Casas structure, two of which confirmed producible oil.

• Acquired Licence 7-2005 (Tortugas/Atzam) in 2005 Guatemalan licencing round.

• Obtained significant interests in two exploration licences in Colombia.

• Acquired Petroleos del Norte (“PDN”), a Colombian producing oil and gas company.

• Tested Serafin Gas well at 14 million cubic feet per day in February 2007.

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Where we are today

• Two producing licences and five exploration licences in Colombia and two licences in Guatemala

• Proved, probable and possible reserves of approx. 40 million barrels, with a further 120 million barrels of potential.

• Current production of approximately 500 barrels a day (“bopd”), which could rise to 1,500 bopd with secondary development of Colombian Fields

• Serafin well #1 tests at 14 million cubic feet a day. Commercial gas sales at end 2nd Quarter 2007.

• Ownership of the strategic Rio Zulia – Ayucucho Pipeline:– 2006 Revenue $1.6 million.

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Corporate

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Shares & Shareholding

• Ordinary Shares $0.10 – 114,007,122• Diluted – 150,648,601

Options - 1,322,000Warrants - 35,319,479

• Major Shareholders:

– Directors & Senior Management 17.76%– Rab Capital 14.34%– Artemis Investment Management 7.89%– Continental Capital 5.20%– Chasm Lake Management 4.93%– Millenium Global Natural Resources 4.63%– Fidelity International / FMR Corp 3.99%

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Management Team

• Chairman and CEO - Greg Smith

• President and COO – Jay Scott– (Previously Chief Operating Officer, Arawak Energy & Bitech

Petroleum)

• Chief Financial Officer – Ian Refault– (Formerly Commercial Director, PetroKazakhstan (Downstream

Marketing) & VP Finance / CFO, Bitech Petroleum)

• Chief Geologist – Kevin Dean– (Previously Chief Geologist Arawak Energy & Bitech Petroleum,

Geologist at Mobil)

• Executive Director – Mark Patterson– (Managing Partner of Calypso Energy & formerly CEO Compania

General de Combustibles Argentina)

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Management track record

• Key members of the Team have:– Worked together– A history of generating strong returns to shareholders

(PetroKazakhstan, Arawak and Bitech)

• Successful record in:– Running international E&P companies– Public companies listed on the London, New York and

Toronto stock exchanges– Discovering oil fields– Developing oil and gas fields

• The team also has extensive experience in debt and equity fund raising

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Colombia

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Location Map

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•183Km long, 10” dia.

•Two pumping stations

•25,000bopd capacity

•2006 average 3,176 bopd

throughput

Rio Zulia – Ayacucho Pipeline

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PDN Assets

• Tisquirama Licence– Los Angeles field – 50% interest– Santa Lucia field – 25% interest

• Lebrija Licence– Dona Maria field – 100% interest

• Three technical evaluation licences

• 100% ownership of the Rio Zulia – Ayacucho pipeline with 25,000 bopd capacity

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Colombian Producing Reserves

Millions of stock tank barrels

Gross P1

Gross P1+P2

Gross P1+P2+

P3

Net P1 Net P1+P2

Net P1+P2

+P3

Los Angeles

3.678 4.665 6.640 1.839 2.332 3.320

Santa Lucia

2.593 17.363 39.514 0.648 4.341 9.878

Dona Maria

0.266 0.266 0.266 0.266 0.266 0.266

Total 6.537 22.294 46.420 2.753 6.939 13.464

Table does not include Serafin gas reserves

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Crude Quality and Pricing

• Santa Lucia crude is:– 18° API– Priced against WTI– Pricing formula = (WTI*0.95)-$6.85

• Los Angeles crude is:– 13° API– Priced against fuel oil 1– Pricing formula = (Fuel Oil 1*0.84)-$1.30– December 2006 discount to WTI-$30

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Los Angeles Field

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Los Angeles Tank Farm

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Santa Lucia Field

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Serafina Gas Well & Pipeline Tie-in

• Completed work-over gas well on Tisquirama licence.

• Initial test flow at 14 mmcf / day

• High gas demand in Colombia ($2.50 - $3.0 mcf)

• 3.5km tie-in to nearby gas pipeline.

• Investment $0.6 million (net to interest).

• Potential payback – 2 - 3 months.

• Fast cash generator.

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Colombian Exploration Licences

• Midas– 70% interest– Operator– 6 year work programme– First year new and reprocessing of 2D seismic ($1.5 million)– Potential based on leads – 90 million barrels (net 63 million)

• La Paloma– 65% interest– Non - Operator– 4 year work programme– First year new and reprocessing of 2D seismic ($1.0 million)– Potential based on reprocessed seismic – 90 million barrels (net

58.5 million)

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Colombian Fiscal Position

• PDN– Royalty 20%– Ecopetrol back in right

• Exploration licences– Sliding scale of royalty 5 to 25%– No EcoPetrol back in right

• Corporate Tax – 35%

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Guatemala

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Guatemala - unexploited opportunity

• Under explored region with high potential

• Proximity and similarity in the geology to Mexico

• Trends in which major Mexican discoveries (e.g. Nazareth Field) have been found extend into Guatemala

• Positive and encouraging political and economic environment

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PetroLatina’s Guatemalan Licences

Licence 6-93Las Casas

TortugasArea 7-2005

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6-93 Licence

• Location – Peten Basin

• Area – 323,000 acres

• Term – 25 years from October 1993

• Reconfirmed production at Las Casas.

• Las Casas 1x - produced at 80 bopd

• Las Casas 3x - encountered oil. Swab test produced oil.

• Still to test Huapac potential and additional nine leads

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Licence 6-93 Leads & Prospects

Area Size (acres)

Potential recoverable reserves (mmbbls)

Las Casas 6,500 17.57

Huapac 4,900 3.1

Leads & Prospects

7 Areas Average of 4,900 each

2-5 each

2 Areas 13,000 & 26,000

3-10 each

HUAPACHUAPAC

LAS CASASLAS CASAS

Drilled / Encountered Hydrocarbons

Drilled / P&A

Leads / Prospects

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Refurbished Service Rig

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3X Drilling Rig

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Drilling at 3X

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Tortugas – Licence 7 -2005

• Location – Peten Basin

• Area – 77,718 acres

• Term – 25 years from September 2005

• 13 wells drilled on the licence of which 8 encountered hydrocarbons

• Two main areas of interest Tortugas salt dome and Atzam

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Guatemalan Reseves

Millions of stock tank barrels

Proved Proved & Probable

Proved, Probable &

Possible

Las Casas 0.096 1.156 17.657

Huapac 3.310

Tortugas * 0.309 0.596 3.872

Total 0.405 1.752 24.839

* This does not include Atzam which is estimated to be between 5 and 16 million barrels of potential reserves

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Fiscal regime

• Guatemala– Royalty based on API of crude– Profit share, sliding scale linked to production– Cost recovery = 100%– Corporate Income tax at 31%

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Marketing Options

Licence 6-93Las Casas

TortugasLincence 7-2005

XAN Field

Piedras Negras

Rublesanto

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Work Programme & Financial

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Colombian Work ProgrammeQ1 2007 Q2 2007 Q3 2007 Q4 2007

PDN Assets

Serafin Development

Tisquirama Licence Extension

TEA’s – Review of TEA Potential

Acquire new seismic on retained TEA’s

Tisquirama Secondary Development

Midas & La Paloma

Seismic Acquisition

Well Studies

Geochemical Survey

Prospect evaluation

Acquire new 3D seismic – La Paloma

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Guatemalan Work Programme & Review

Q1 2007 Q2 2007 Q3 2007 Q4 2007

6-93

Geological/Geophysical/Engineering Review

A7-2005

Atzam 2 remedial work plan

1. Licence 6-93 requires an ongoing detailed technical review to better understand sub-surface geology.

2. Atzam 2 well – strong reservoir pressure but damage to well casing and cement require further work plan & engineering analysis.

3. Force majeure filed on Tortugas area of A7-2007 licence pending MEM resolving land access issues with Municipality of Coban.

4. Office and field costs reduced to absolute minimum.

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PDN 2005 Financial Results

• Turnover – US $7.2 million

• Earnings – US $0.9 million

• Operating Cash flow – US $3.2 million

PDN 2006 Financial Forecast (Post acquisition)

• Turnover – US $ 4.3 million

• Earnings – US $ 1.3 million

• Operating Cash flow – US $ 1.9 million

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Market Data• Listing AIM

• EPIC PELE

• Nomad Seymour Pierce

• Public Relations Pelham PR

• Current share price 28.5 pence (16/02/07)

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PetroLatina Energy Plc

• New E& P Company with Latin American focus.

• Strong management team with extensive oil & gas and international experience, together with track record of running public companies.

• Acquired strong position in Colombia & Guatemala is an under-explored but potentially prolific oil and gas region.

• Have current oil production which can be rapidly increased through secondary development in Colombia.

• Colombian gas commercial production at end 2nd Quarter 2007

• Total 3P and potential reserves are approximately 160 million barrels.

• Well positioned for future growth, both organically and through acquisitions.

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Additional Information

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Guatemalan Fiscal Regime

Licence 6-93 7-2005

Royalty 20% for 30° API +/- 1% per degree API change

20% for 30° API +/- 1% per degree API change

Estimated royalty Rate

29 to 30%

Minimum Government take

<15,000 bopd = 40%

<20,000 bopd = 30.07%

Maximum Government Take

>75,000 bopd = 75%

>90,000 bopd = 72%

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Guatemalan Fiscal RegimeCost Recovery• Cost recovery statements required to be approved

• Only costs related to the defined zone of commercial production are allowed

• Once allowed, approved cost recovery is fully deductible in period approved

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Guatemalan - Corporate Income Tax

• Levied against a company’s profits

• Capital expenditure is 100% allowable in year that it is incurred

• One third of profit share is deductible

• Tax rate is 31%