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Press release from Marketwire

Petrominerales Adjusts Fourth Quarter Ex-Dividend Date

Wednesday, December 21, 2011

Petrominerales Adjusts Fourth Quarter Ex-Dividend Date16:24 EST Wednesday, December 21, 2011CALGARY, ALBERTA--(Marketwire - Dec. 21, 2011) - Petrominerales Ltd. ("Petrominerales") (TSX:PMG) (BVC:PMGC) announces that, as a result of recent changes to applicable Colombian regulations and the schedule of trading days of the Colombian Stock Exchange ("BVC"), we have adjusted the ex-dividend date of our fourth quarter cash dividend to be December 28, 2011. Shareholders who trade their shares on the BVC will have two ex-dividend trading days in relation to our fourth quarter dividend, being December 28, 2011 and December 29, 2011. Petrominerales' dividend for the fourth quarter of 2011 will be paid on January 13, 2012 to Petrominerales shareholders of record on December 31, 2011. The fourth quarter 2011 dividend payment will be CDN$0.125 per Petrominerales share. Shareholders of record entitled to receive a dividend payment for Petrominerales shares acquired through the BVC will receive the Colombian peso equivalent of their dividend entitlement, calculated based on the US dollar to Colombian peso exchange rate on the day of the conversion, which will be published on the Sistema Integral de Información del Mercado de Valores (SIMEV) website, when available. Shareholders who acquired their shares through the BVC may experience a slight delay in the receipt of their dividend entitlement as a result of local currency exchange procedures.For more information regarding Petrominerales' dividend, please refer to our website at: http://www.petrominerales.com/investors/dividends.Petrominerales Ltd. is an international oil and gas company operating in Latin America since 2002. Today, Petrominerales is the most active exploration company and the fourth largest oil producer in Colombia. Our high quality land base and multi-year inventory of exploration opportunities provides long-term growth potential for years to come.FOR FURTHER INFORMATION PLEASE CONTACT: Corey C. RuttanPetrominerales Ltd.President and Chief Executive Officer403.920.0124011.571.629.2701ORJack F. ScottPetrominerales Ltd.Chief Operating Officer403.920.0124011.571.629.2701ORKelly D. SledzPetrominerales Ltd.Chief Financial Officer403.920.0124011.571.629.2701