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Laredo Petroleum, Inc. Announces Selection of Ambassador Francis Rooney and Donald D. Wolf to Board of Managers

Tulsa, Oklahoma, February 23, 2010 - Laredo Petroleum, LLC, an independent oil and gas exploration and production company formed in partnership with private equity investment firm Warburg Pincus, announced today that its Board of Managers has elected Ambassador Francis Rooney, former American Ambassador to the Holy See and Donald D. Wolf, Chairman of Quantum Resources, LLC, to serve as new independent managers on the Laredo Board.

Ambassador Rooney served as United States Ambassador to the Holy See from 2005 to 2008. He serves on the Board of Advisors for the Panama Canal Authority, Republic of Panama. He is a Trustee of The Center for the Presidency and is a member of the Council of American Ambassadors, both in Washington D.C. He is a director of Helmerich and Payne, Inc. (NYSE) and VETRA Energy Group based in Bogota, Columbia. He also serves on the Advisory Council for the School of Architecture of the University of Notre Dame and is a member of the Board of Visitors for the University of Oklahoma's International programs. In 2006, he was granted an honorary degree from the University of Notre Dame. He received his Juris Doctorate degree from Georgetown University in 1975 and graduated from Georgetown University Law Center in 1978. He is a member of the District of Columbia and Texas Bars.

Donald Wolf is Chairman of Quantum Resources Management, LLC, a private partnership which acquires and operates producing oil and gas properties. He also serves on the Board of Managers of Ute Energy, an affiliate of Quantum Resources, LLC. He is past Chairman/CEO of Westport Resources Corporation, President/COO of UMC Corporation and President/CEO of General Atlantic Resources. Mr. Wolf is currently Vice-Chairman and Director of Aspect Resources Corporation, a Director of Mark West Energy Partners, LP and a Director of Enduring Resources, LLC. Mr. Wolf is a past Director of the Independent Petroleum Association of Mountain States (IPAMS) and a recipient of "Wildcatter of the Year" honors by that association.

Randy A. Foutch, Laredo's Chairman, said "Ambassador Rooney and Mr. Wolf bring significant experience and expertise to our Board, and we are pleased and honored that they have joined our team."

About Laredo
Laredo Petroleum, LLC is an exploration and production company with headquarters in Tulsa, Oklahoma.  Laredo's strategy is to explore for hydrocarbons, make strategic acquisitions and participate in drilling joint ventures having upside potential in targeted areas of the Mid-Continent and Permian Basin Regions of the United States.  For more information, please visit www.laredopetro.com. 

Warburg Pincus
Warburg Pincus is a leading global private equity firm.  The firm has more than $30 billion in assets under management. Its active portfolio of more than 110 companies is highly diversified by stage, sector and geography. Warburg Pincus is a growth investor and an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 12 private equity funds which have invested more than $35 billion in approximately 600 companies in more than 30 countries. The firm has offices in Beijing, Frankfurt, Hong Kong, London, Mumbai, New York, San Francisco, São Paulo, Shanghai and Tokyo. For more information, please visit www.warburgpincus.com.

Mark Womble
Chief Financial Officer, Laredo Petroleum