Petrobank Energy and Resources Ltd, Calgary, Alberta. TSX : PBG., is a Calgary-based oil and natural gas exploration and production company with operations in western Canada andColombia. The Company operates high-impact projects through 3 business units.

Three Strong Business Units

Canada

• Q3 2008 – 18,365 boepd, October > 21,660 boepd
• 3P reserves 65.8 mmboe
• Plan to drill 154 net Bakken locations in 2008
• High-impact exploration
• Application of technology to large resource opportunities

Latin America : TSX:PMG, 76% owned

• Q3 2008 - 12,485 bopd, mid-November - 19,590 bopd
• 3P reserves - 51.9 mmboe
• 1.9 million exploration acres in Colombia
• 2.6 million in Peru Long-term heavy oil potential

Heavy Oil: THAI ™ A Global Technology / CAPRI™ - step change heavy oil technologies

• Up to 804 mmbbls recoverable (based on SAGD)
• Expanding Whitesands project
• 100,000 bopd May River commercial project
• Global potential

International Potential - THAI ™ A Global Technology

• Fully develop existing Whitesands lands
• Acquire and/or execute additional joint ventures
• Licensing technology to third parties
• Targeting oil sands & conventional heavy oil globally

The Canadian Business Unit is developing a solid production platform from low risk gas opportunities in central Alberta and an extensive inventory of Bakken light oil locations in southeast Saskatchewan complemented by new exploration projects and a large undeveloped land base.

The Latin American Business Unit is operated by Petrobank's 76.5% owned, TSX-listed subsidiary, Petrominerales Ltd Trading Symbol: (PMG), a Latin American-based exploration and production company producing oil from three blocks in Colombia with contracts on 13 exploration blocks covering a total of 1.5 million acres in the Llanos and Putumayo Basins.

Whitesands Project Insitu Partnership, a partnership between Petrobank and its wholly-owned subsidiary Whitesands Insitu Inc., owns 70,720 net acres of oil sands leases with an estimated 2.6 billion barrels of gross bitumen-in-place and operates the Whitesands Project which is field-demonstrating Petrobank's patented THAI™ heavy oil recovery process. THAI™ is an evolutionary in-situ combustion technology for the recovery of bitumen and heavy oil that integrates existing proven technologies and provides the opportunity to create a step change in the development of heavy oil resources globally.

The Archon Technologies Unit focuses on the development and acquisition of new technology and innovations that will capture the commercial benefits of the THAI™ and CAPRI™ technology (e.g., incremental surface upgrading, high-quality produced water, oxygen-enriched injection air, sulphur recovery, carbon dioxide capture and heat recovery). THAI™ and CAPRI™ are registered trademarks of Archon Technologies Ltd., a wholly-owned subsidiary of Petrobank.