Court order sanction Scheme

Pan Andean Resources plc

Court order sanction Scheme

Pan Andean Resources plc ('the Company') announces that, at a hearing held today, the High Court sanctioned the Scheme in relation to the recommended proposals for the acquisition of Pan Andean by Petrominerales Ltd. (including the demerger of the North American and Bolivian interests of the Company).

The Scheme is conditional on the delivery of an office copy of the Court Order sanctioning the Scheme being registered with the Registrar of Companies in England and Wales. This is expected to be on 14 April 2010. The cancellation of admission of Pan Andean Shares to trading on AIM will take effect at 7.00 a.m. on 15 April 2010.

Capitalised terms used in this announcement have the meanings given to them in the Scheme Document.