PetroLatina Energy Exploration and Production in Latin America

1. PetroLatina EnergyExploration and Production in Latin America Oil Barrel 22nd February 2007

2. 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.

3. 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

4. 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.

5. 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.

6. Corporate

7. Shares & Shareholding • Ordinary Shares $0.10 – 114,007,122 • Diluted – 150,648,601 Options - 1,322,000 Warrants - 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%

8. 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)

9. 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

10. Colombia

11. Location Map

12. Rio Zulia – Ayacucho Pipeline • 183Km long, 10” dia. • Two pumping stations • 25,000bopd capacity • 2006 average 3,176 bopd throughput

13. 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

14. Colombian Producing Reserves Table does not include Serafin gas reserves

15. 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

16. Los Angeles Field

17. Los Angeles Tank Farm

18. Santa Lucia Field

19. 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.

20. 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)

21. 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%

22. Guatemala

23. 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

24. PetroLatina’s Guatemalan Licences Licence 6-93 Las Casas Tortugas Area 7-2005

25. 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

26. Licence 6-93 Leads & Prospects HUAPAC Drilled / Encountered Hydrocarbons Drilled / P&A LAS CASAS Leads / Prospects

27. Refurbished Service Rig

28. 3X Drilling Rig

29. Drilling at 3X

30. 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

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

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

33. Marketing Options XAN Field Rublesanto Tortugas Lincence 7-2005 Licence 6-93 Las Casas Piedras Negras

34. Work Programme & Financial

35. Colombian Work Programme

36. Guatemalan Work Programme & Review 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.

37. 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

38. Market Data • Listing AIM • EPIC PELE • Nomad Seymour Pierce • Public Relations Pelham PR • Current share price 28.5 pence (16/02/07)

39. 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.

40. Additional Information

41. Guatemalan Fiscal Regime

42. 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

43. 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%