DISSEMINATION IN THE UNITED STATES/

CALGARY, Sept. 15 /CNW/ - Petrolifera Petroleum Limited ("Petrolifera" or the "Corporation") (PDP - TSX) announces that it has closed a non-brokered private placement of 1,137,500 units ("Units") at a price of $0.88 per Unit to directors and officers of the Corporation for gross proceeds of $1,001,000 (the "Private Placement"). Each Unit consists of one common share in the capital of the Corporation (each, a "Common Share") and one-half of one Common Share purchase warrant of the Corporation (each whole Common Share purchase warrant, a "Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share (each a "Warrant Share") at an exercise price of $1.20 per Warrant Share at any time up to 5:00 pm (Calgary time) on August 28, 2011. In the event that the 20- day volume weighted average price of the Common Shares on the Toronto Stock Exchange (or such other stock exchange or quotation system on which the Common Shares are listed and where a majority of the trading volume occurs), exceeds $2.50, the Corporation may, within five business days after such an event, provide notice to the holders of Warrants ("Warrantholders") of early expiry and thereafter the Warrants will expire on the date which is 30 days after the date of the notice to the Warrantholders.

The Units offered pursuant to the Private Placement were issued on the same terms as those offered pursuant to the recent public offering (the "Public Offering") by the Corporation of 56,820,000 Units and 8,523,000 Units upon the exercise of the underwriters' over-allotment option, as previously announced on August 28, 2009 and September 4, 2009, respectively.

The net proceeds of the Private Placement will be added to the proceeds from the Public Offering and will be used to fund a portion of the Corporation's exploration capital expenditure program, primarily in Colombia during the balance of 2009 and into 2010, to reduce indebtedness relating to the Corporation's reserve-backed credit facility and for working capital.

After giving effect to the Private Placement, Petrolifera now has 121,758,510 Common Shares and 33,240,250 Warrants outstanding.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States or any other jurisdiction outside of Canada, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.