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CALGARY, ALBERTA--(Marketwire - March 9, 2011) -

NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Parex Resources Inc. ("Parex" or the "Company") (TSX VENTURE:PXT) announces that it filed today on SEDAR its Annual Information Form which includes the Company's oil and gas information for the year ended December 31, 2010 as mandated by National Instrument 51-101 Standards of Disclosure for Oil and GasActivities of the Canadian Securities Administrators.

Also on March 9, 2011 the Company filed its audited financial statements for the year ended December 31, 2010 and related management discussion and analysis with the Canadian Securities Regulatory Authorities.

Copies of all of the Company's 2010 year-end disclosure documents may be obtained at [ www.sedar.com ] or by contacting the Company directly.

Corporate Overview

Parex, through its direct and indirect subsidiaries, is engaged in oil and natural gas exploration, development and production in South America and the Caribbean region. Parex is conducting exploration activities on its 595,000 acre holdings in the Llanos Basin of Colombia and 223,500 acre holdings onshore Trinidad. Parex is headquartered in Calgary, Canada.

This news release does not constitute an offer to sell securities, nor is it a solicitation of an offer to buy securities, in any jurisdiction.

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.