News: PRE in S&P/TSX Composite IndexPacific Rubiales to be Included in S&P/TSX Composite Index
TORONTO, March 18 /CNW/ - Pacific Rubiales Energy Corp. (TSX: PRE) is pleased to announce that Standard and Poor's (S&P) has added the company to the S&P/TSX Composite Index. The change will be effective market open, Monday, March 23, 2009.
"We are pleased to be included on the large cap S&P/TSX Composite Index," said Ronald Pantin, CEO of Pacific Rubiales Energy Corp. "This inclusion highlights the tremendous progress and growth the company has achieved in a very short time. We look forward to the positive effects this will have on the stock and the increased interest and access this will bring from the investment community."
The S&P/TSX Composite Index is the headline index in Canada and premier indicator of performance for Canadian equity markets.
Pacific Rubiales is presently focused on ramping up production at its Rubiales-Piriri field to enable early pumping with the ODL pipeline, currently under construction and on schedule for completion in Q3, 2009.
Pacific Rubiales, a Canadian-based company and producer of natural gas and heavy crude oil, owns 100 percent of Meta Petroleum Corp., a Colombian oil operator which operates the Rubiales and Piriri oil fields in the Llanos Basin in association with Ecopetrol S.A., the Colombian national oil company. The company is focused on identifying opportunities primarily within the eastern Llanos Basin of Colombia as well as in other areas in Colombia and northern Peru. Pacific Rubiales has a current net production of approximately 34,000 barrels of oil equivalent per day, with working interests in 34 blocks in Colombia and Peru.