Calgary, Alberta (FSCwire) - Petrodorado Energy Ltd. (“Petrodorado” or the “Company”) (TSXV-PDQ) is pleased to announce that it has divested its interest in the La Maye Block and the Moriche Block located in Colombia.

La Maye Block

Petrodorado has successfully divested its participating interest in the La Maye Block of the Lower Magdalena Valley of Colombia (the “La Maye Interest”) to a private oil and gas company. This transaction eliminates exploration commitments of at least $0.8 million (all amounts in United States dollars, unless otherwise noted) while enabling the Company to participate through a Gross Overriding Royalty of 1% that will be calculated on the La Maye Interest’s percentage (20%) of oil production resulting after applicable government royalties. 

Moriche Block

The Company has been advised by the operator of the Moriche Block, Pacific Exploration and Productions Corp. (the “Operator”), that the conditional sale of the Moriche Block that was originally executed on March 20, 2013, has been completed between the Operator and the third party purchaser.

Special Distribution

Further to its prior press releases, the Company announces that in the near future it expects to be providing further details regarding the exact amount of the return on capital distribution and the record date for the payment of same. At this point in time, the Company expects the distribution to be in excess of the previously announced estimate of CAD$0.40 per share, which is expected to be a combination of cash and common shares of Amerisur Resources PLC (“Amerisur”). Petrodorado currently holds 9,851,419 Amerisur shares. The Company expects to make the distribution sometime during the month of March. Timing of the distribution is subject to regulatory approval and the amount quoted above is subject to the trading price of the Amerisur shares and currency exchange rates. Currently, the Company is in the final phases of regulatory approval for the distribution of the Amerisur shares to Company shareholders, which is the only remaining task to achieve prior to the execution of the proposed distribution. Ultimately, if regulatory approval for the distribution of the Amerisur shares is not received or is impractically delayed, the Company’s holdings of Amerisur shares would then be marketed and sold, with the proceeds being included in the distribution to shareholders along with the other Company funds already allocated for the distribution. This alternative method of distribution of only cash after the divestiture of the Amerisur shares would still be estimated to be in excess of the previously announced estimate of CAD$0.40 per share. The Company is expecting to deliver further news regarding the return on capital distribution within the next 5 to 10 business days.

About Petrodorado Energy Ltd.

Petrodorado is primarily engaged in petroleum and natural gas exploration and development activities in Colombia. Its head office is located in Calgary, Alberta, Canada and Petrodorado’s common shares are traded on the TSXV under the trading symbol “PDQ”.

For further information, please contact:

Chris Reid, President and CEO

Lynn Chapman, VP Finance and CFO

Phone: (403) 800-9240

Email: info@petrodorado.com

Website: www.petrodorado.com

Forward Looking Statements:

This news release includes information that constitutes “forward-looking information” or “forward-looking statements”. More particularly, this news release contains statements concerning expectations regarding the timing and amount of the issuance of a special return on capital distribution, the receipt of regulatory approval for the issuance of the return of capital distribution and the overall strategic direction of the Company. The forward-looking statements contained in this document, including expectations and assumptions concerning the obtaining of the necessary regulatory approvals, currency exchange rates, the trading price of Amerisur shares and the assumptions, opinions and views of the Company or cited from third party sources, are solely opinions and forecasts which are uncertain and subject to risks. A multitude of factors can cause actual events to differ significantly from any anticipated developments and although the Company believes that the expectations represented by such forward-looking statements are reasonable, undue reliance should not be placed on the forward-looking statements because there can be no assurance that such expectations will be realized. Material risk factors include, but are not limited to: risks associated with obtaining regulatory approval of the return on capital distribution, currency exchange fluctuation, volatility of the trading price of the Amerisur shares, the risks of the oil and gas industry in general, such as operational risks in exploring for, developing and producing crude oil and natural gas, market demand and unpredictable shortages of equipment and/or labour; potential delays or changes in plans with respect to exploration or development projects or capital expenditures; fluctuations in oil and gas prices and interest rates, and reliance on industry partners.

Neither the Company nor any of its subsidiaries nor any of its officers, directors or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does any of the foregoing accept any responsibility for the future accuracy of the opinions expressed in this document or the actual occurrence of the forecasted developments.

The forward-looking statements contained in this document are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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