PetroGlobe Provides Operational Update and Well Licence

PetroGlobe Inc. (TSX VENTURE:PGB) ("PetroGlobe" or the "Company") announces
operational update on its recent Cardium horizontal light oil well in the Edson
area located in North West Pembina.


The Company recently flow tested its Cardium horizontal oil well in the Edson
area after it was discovered upon initial testing that a mechanical failure
existed immediately after the last fracture treatment port, which is the closest
to the heel of the horizontal well bore. The test period was over three days
during which the Company both flowed and swab tested the well, recovering
approximately 599 barrels of fluid during 31 hours of testing. 


The Company has set production equipment in place and will be placing the well
on pump and looks forward to updating the market on pumping rates once
established.


The Company is also pleased to announce it has licensed a second horizontal well
in the adjacent section and plans to commence drilling in the second quarter of
the year.


ABOUT PETROGLOBE INC.

PetroGlobe Inc. carries on business directly in Canada and is listed on the TSX
Venture Exchange and trades under the symbol PGB.


Forward-looking information

This news release contains forward-looking information relating to various
matters that may include capital expenditures, cash flow, earnings, future
drilling, production rates and other future events. This information is based on
PetroGlobe's current expectations and assumptions as to a number of factors,
including weather conditions, availability of drilling rigs, drilling success,
reserves and production, ability to tie-in production, commodity prices,
exchange rates, interest rates, access to capital, general economic and industry
conditions and other factors. If those expectations and assumptions prove to be
incorrect, or factors change, then actual results could differ materially from
the forward-looking information contained in this news release.