UPDATE 1-Pacific Rubiales says discovers more oil on Quifa Block

UPDATE 1-Pacific Rubiales says discovers more oil on Quifa Block 10:23 EDT Tuesday, October 13, 2009

* Finds more oil on Quifa Block in Colombia * Plans additional drilling campaign in 2009

Oct 13 (Reuters) - Canadian oil and natural gas producer Pacific Rubiales Energy Corp said it discovered more oil on the Quifa Block, located in the Llanos Basin of Colombia.

As a result, an additional drilling campaign, including three exploratory wells, will be executed during 2009 in the Quifa Block, the company said.

The Quifa Block is an exploratory block in which Meta Petroleum, a unit of Pacific Rubiales, holds a 60 percent working interest and Colombia's state-owned oil company Ecopetrol SA holds the remaining 40 percent.

Shares of Pacific Rubiales were up 19 Canadian cents at C$13.28 Tuesday morning on the Toronto Stock Exchange. (Reporting by R. Manikandan in Bangalore; Editing by Deepak Kannan)