PetroGlobe Announces Asset Sale

PetroGlobe Inc. (TSX VENTURE:PGB) ("PetroGlobe" or the "Company") announces it
has closed an asset sale in the Pembina area of Alberta.


The Company sold its working interest in certain wells, pipelines and land in
the Pembina area of Alberta. The sale included approximately five bbls/day of
oil production, three (2 net) wells and net 704 hectares of land for total
proceeds of $525,000.


The proceeds of the disposition will be applied to reduce indebtedness under the
Company's current credit facility.


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.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
PetroGlobe Inc.
Jason E. James
Chief Financial Officer
(403)  265-4488 ext. 234
(403)  265-9727 (FAX)
[e-mail]
www.petroglobe.com


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