Petrolifera to webcast Corporate Presentation at its Annual Meeting of
Shareholders

CALGARY, May 4 /CNW/ - Petrolifera Petroleum Limited (PDP - TSX) announces that it will be webcasting the Corporate Presentation which is scheduled at its Annual Meeting of Shareholders being held at 3:00 PM on Wednesday, May 5, 2010 in the Devonian Room at The Calgary Petroleum Club in Calgary. The Corporation's presentation will be made by Mr. Gary Wine, President and Chief Operating Officer, who will be introduced by Mr. Richard A. Gusella, Executive Chairman. The presentation will be webcast by CNW Group and will commence at approximately 3:20 PM MDT on Wednesday, May 5, 2010.

To listen to and view the presentation, please follow the link to the webcast on Petrolifera's website at www.petrolifera.ca or on CNW at http://www.newswire.ca/en/webcast/viewEvent.cgi?eventID=3015540.

The new slide presentation, entitled "2010 Spring Investors Presentation" will be also posted on Petrolifera's website at 3:00 PM on May 5, 2009 and will be accessible at www.petrolifera.ca; click on "Investor Information", then "Presentations".

Petrolifera Petroleum Limited is a Calgary-based crude oil, natural gas and natural gas liquids exploration, development and production company with interests in eleven concessions or licenses in Argentina, Colombia and Peru.

For further information: Petrolifera Petroleum Limited, R. A. Gusella, Executive Chairman, [phone] Or Gary D. Wine, President and Chief Operating Officer, [phone] Or Kristen J. Bibby, Vice President Finance and Chief Financial Officer, [phone], [email protected], www.petrolifera.ca