PetroGlobe reports record production

PetroGlobe Inc. provides the following operational update and results of its first quarter work over program.

The Corporation initiated a work over program in March 2008 following the completion of a private placement earlier in the quarter. The program involved the Corporation’s Alberta operations and included ten perforations of additional pay intervals as well as two fractionation stimulation treatments in tied-in well bores.

The work over program resulted in a 65% increase in working interest production from a February average of 860 thousand standard cubic feet per day (mcf/day) to a stabilized 1,421 mcf/day, which is a record for the Corporation. The Corporation’s working interest cost of the work program was approximately $200,000.