Petrodorado Files Financial Results and Management Discussion & Analysis for the Second Quarter Of 2012

Petrodorado Files Financial Results and Management Discussion & Analysis for the Second Quarter Of 2012

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR
DISTRIBUTION TO U.S. WIRE SERVICES


Calgary, Alberta CANADA, August 23, 2012 /FSC/ - Petrodorado Energy Ltd. (PDQ - TSX Venture), has filed its interim Financial Results and Management Discussion & Analysis for the three and six months ended June 30, 2012.


Financial Statements

Highlights include:

- As at June 30, 2012, the Company has $49.2 million funds available to be used in exploration activities and general operations by way of cash and cash equivalents, short-term investments, and restricted cash.

- Subsequent to quarter end, the Company executed an agreement with the operator of Peru Blocks 135 and 138 to divest its 45% beneficial interest for a sum of $15.2 million.

-***-

$ (U.S. dollars)         Period ended June 30, Period ended June 30,
                                 2012                  2011
--------------------------------------------------------------------
Working Capital                     33,825,669            35,835,451
--------------------------------------------------------------------
Exploration and                     62,752,934            59,697,822
  Evaluation Assets
--------------------------------------------------------------------
Total Assets                       116,219,690           117,484,383
--------------------------------------------------------------------
Funds used in                      (1,938,935)           (1,551,342)
  Operations
  (six months)
--------------------------------------------------------------------
Funds used in                      (1,349,069)             (754,709)
  Operations
  (three months)
--------------------------------------------------------------------
Net Income (Loss)                  (2,125,391)           (8,110,673)
  (six months)
--------------------------------------------------------------------
Net Income (Loss)                      486,532           (2,636,055)
  (three months)
--------------------------------------------------------------------
Net Income (Loss)                       (0.00)                (0.02)
  per Share, basic and
  diluted (six months)
--------------------------------------------------------------------
Net Income (Loss)                         0.00                (0.01)
  per Share, basic and
  diluted (three months)
--------------------------------------------------------------------

-****-

All amounts expressed above are in US dollars.
Complete reports and statements are available on SEDAR at http://www.sedar.com and on the Company website http://www.petrodorado.com.


About Petrodorado Energy Ltd.

Petrodorado is primarily engaged in petroleum and natural gas exploration and development activities in Colombia, Peru and Paraguay. Its head office is located in Calgary, Alberta, Canada and Petrodorado's common shares are traded on the TSXV under the trading symbol "PDQ".

For further information, please contact:

Krishna Vathyam, President and CEO
Chris Reid, VP of Finance and CFO
(403) 930-7544
Email: info@petrodorado.com
Website: http://www.petrodorado.com

Neither the 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.

To view this press release as a webpage, please click on the following link:
http://www.fscwire.com/pr/petrodoradoaug232012.htm




Source: Petrodorado Energy Ltd. (TSX-V: PDQ) http://www.petrodorado.com
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