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Executive Chairman Malcolm Jones and President Operations Wayne Bertrand recently executed a Joint Venture Agreement (Deed of Assignment, Joint Operating Agreement and Letter Agreement) with PetroCanada for a 10% participation in Block 22.

Petrotrin and PetroCanada sign Joint Venture Deal

The signing took place on June 20^th, 2007 at the Cara Suites Hotel at Claxton Bay. Petrotrin’s Executive Leadership team and members of PetroCanada’s top management were on hand to witness the proceedings.

Block 22 is located just north of Tobago. It is on trend with the NCMA Block and has gas potential

that ranges from 3 to 5 TCF. Petrotrin’s participation is at ‘ground floor’, which means that the Company will share all risks and rewards from the start.

PetroCanada executed a Production Sharing Contract for Block 22 with the Government of the Republic of Trinidad and Tobago in July 2005. Work on the Block is already underway. The 3D seismic survey has been completed and exploration drilling is expected to commence in the third quarter of 2007.