PetroGlobe Announces Update on Red Earth Well

PetroGlobe Inc. (TSX VENTURE:PGB) ("PetroGlobe" or the "Company") announces
initial production from its horizontal test well on the Company's Red Earth
farmin lands. 


The well was placed on pump on November 20, 2012 and has been recovering load
fluid and oil. During its first month of production in December 2012 it averaged
approximately 150 bbls/day of fluid, with a 73 percent water cut resulting in 40
bbls/day of oil. The well has recovered all of its frac load fluid and is
currently producing approximately 63 bbls/day of fluid with a 74 percent water
cut. PetroGlobe's after earning working interest in the well is 25 percent.


The farmor has until February 6, 2013 to elect to drill a second well to earn
the balance of PetroGlobe's land at Red Earth.


ABOUT PETROGLOBE INC.

PetroGlobe is a Calgary, Alberta based public company, engaged in the
exploration, development and production of petroleum and natural gas in Canada.
PetroGlobe's focus is on high working interest, company-operated properties in
Alberta, including Pembina Cardium light oil, Pembina Edmonton Sands natural
gas, Red Earth Slave Point light oil and Sawtooth oil in the Grand Forks/Taber
area of southern Alberta. PetroGlobe's common shares are listed on the TSX
Venture Exchange and trade under the symbol PGB.


FOR FURTHER INFORMATION PLEASE CONTACT: 
PetroGlobe Inc.
Jason E. James
Chief Financial Officer
[phone] ext. 234
[phone] (FAX)
[e-mail]
www.petroglobe.com


PetroGlobe Inc.
Bill Powers
Interim Chief Executive Officer
[phone]