Directorate Change

Pan Andean Resources PLC
7 February 2002



Pan Andean Resources PLC announces that, in view of the upcoming general
election in Bolivia, Mauricio Gonzalez Sfeir is retiring with immediate effect
as a non-executive main board director of Pan Andean Resources PLC, the
AIM-listed oil and gas producer and explorer.  Mauricio Gonzalez Sfeir has
previously served as Energy Minister in Bolivian governments.  He continues as
an employee and President of Petrolex SA, a private Bolivian company operating
the Bolivian oil and gas exploration and production interests of the group.
Petrolex SA is a wholly owned subsidiary of Pan Andean Resources PLC.



The board of Pan Andean Resources PLC reluctantly accepted Mauricio Gonzalez
Sfeir's resignation from its main board, and looks forward to his continuing
contribution at Petrolex SA and public service in Bolivia.



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