2009-08-19-2007-11-01-2007-11-01

Bought co., gaining participation stakes in 2 blocks on 133,333 acres, potential reserves 222 MMBOE, including 20% stake in Talora Block SW of Bogotá and 16% stake in Buenavista Block NE of Bogotá.

PetroSouth Energy Corp., Houston, (OTCBB: PSEG) has acquired privately held PetroSouth Energy Corp. BVI, British Virgin Islands, in a stock transaction valued at approximately $54.5 million. PetroSouth BVI has participation stakes in two Colombian blocks on 133,333 acres with potential reserves of 222 million barrels of oil. PetroSouth has a 20% participation stake in the Talora Block southwest of Bogotá and a 16% participation stake in the Buenavista Block northeast of Bogotá.