Published: July 15, 2011

PetroGlobe Announces Filing of Interim Financial Statements

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PetroGlobe Inc. (TSX VENTURE:PGB) ("PetroGlobe" or the "Company") announces it has filed its interim consolidated financial statements for the three months ended March 31, 2011 and accompanying Management's Discussion and Analysis with Canadian securities regulatory authorities. These filings are available for review under the Corporation's SEDAR profile at www.sedar.com.

The Company will be seeking revocation of the cease trade orders and expects to receive the revocation orders shortly thereafter.

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