Business NewsMarketWire • Betancourt Lopez Announces Increase in Ownership Position of Pacific Rubiales Energy Corp.

Betancourt Lopez Announces Increase in Ownership Position of Pacific Rubiales Energy Corp.

Betancourt Lopez Announces Increase in Ownership Position of Pacific Rubiales Energy Corp.

PUNTA PACIFICA, PANAMA--(Marketwired - June 3, 2015) - Leopoldo Alejandro Betancourt Lopez ("Betancourt") announced today that Calborn International Limited, an affiliate of Betancourt, has acquired, by way of private agreement, 9,000,000 common shares ("Common Shares") of Pacific Rubiales Energy Corp. (the "Company"), representing approximately 2.85% of the issued and outstanding Common Shares, for an aggregate purchase price of $56,610,000 or $6.29 per Common Share.

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Betancourt Lopez Announces Increase in Ownership Position of Pacific Rubiales Energy Corp.