IRADESSO QUARTERLY - BMIR - Bryan Mills Iradesso

international SnapSHotSFINDING OPPORTUNITY, ANSWERS, ENERGYListing: TSX-PMGShares outstanding: 99.4 million at June 30, 2010August 31, 2010 share price: $24.75Market capitalization: $2,460 millionCastor, Casanare Este, MapacheAntorchaBlocks 59,15, 25 & 31Corcel &GuatiquiaCOLOMBIAOrito, Las AguilasNeivaJaguar, JoropoCasimenaChiguiro Este,Chiquiro OesteRio AriariiQ SnapSHotNet debt: $12 million ($79 million debentures less $67 million working capital)Enterprise value (market cap. + net debt): $2,472 millionQ2 2010 average daily production:Crude oil and NGLs 44,203 bbls/d 100%OilGasBlock 161Block 131Block 114Block 126Block 141Natural gas 0 mmcf/d 0%Total 44,203 boe/d 100%Strategies:HIGH IMPACT EXPLORATION1.9 million acres in Colombia (100% WI), 9.4 million gross acres (5.2 million net) in PeruFocus of OperationsPROVEN SUCCESSFour consecutive years of over 100% production growthHIGH VALUE PRODUCTION BASEAverage production base of over 44,200 bopd (Q2 2010)attracting industry-leading operating netbacksEXTENSIVE, DIVERSIFIED DRILLING INVENTORYMore than 70 drillable exploration prospects over 20 exploration blocks and90 development locations— from Petrominerales August 2010 corporate presentationRecent News:August 31, 2010Petrominerales provides InterOil update - announcesintention to direct resources to other opportunitiesAugust 25, 2010Petrominerales closes US$550 million convertiblenote offeringAugust 25, 2010Petrominerales reports another record quarter with105 percent increase in productionContact:1900, 111 – 5th Avenue S.W.Calgary, Alberta T2P 3Y6tel 403.750.4400ir@petrominerales.comwww.petrominerales.comOfficersCorey Ruttan - President & CEOJohn Scott - COOKelly Sledz - CFORuben Cano - VP, Services and LogisticsAndrea Hatzinikolas - Assistant CorporateSecretary & General CounselAllen Knight - VP, New VenturesErik Lyngberg - Sr VP, ExplorationAlastair MacDonald - Corporate SecretaryTannya Morales - VP, FinanceJeff Chant - VP, Organizational PerformanceDirectorsAlastair MacDonaldKenneth McKinnonJerald OaksErnesto SarpiEnrique Umaña-ValenzuelaJohn WrightGeir YtrelandAnalyst Coverage:Bank of America/Merrill LynchBMO Nesbitt BurnsCanaccord GenuityClarus SecuritiesCormark SecuritiesDundee Capital Markets SecuritiesFirstEnergy Capital CorporationFraser MacKenzieGenuity CapitalGMP SecuritiesHaywood SecuritiesJennings CapitalMacquarie CapitalPeters & Co.Raymond JamesRBC Capital MarketsScotia CapitalTD NewcrestThomas Weisel Partners GroupUBS SecuritiesThis company snapshot has been assembled by BMIR using publicly available information. The snapshot is not endorsed by the company profiled.46BRYAN MILLS IRADESSO • i Q . BMir.coM