The advertisements, which appeared in newspapers in Jamaica, Barbados and Trinidad and Tobago, were based on a communique issued by the Venezuelan Foreign Ministry in Caracas to mark the centennial anniversary of an International Tribunal Agreement between the two countries.
Playing down the implications of the advertisements, Guyana's President, Bharrat Jagdeo has said that he holds out hope for a peaceful resolution of the border controversy with Venezuela despite worrying signals coming from the Spanish-speaking country.
"Both Guyana and Venezuela have committed themselves to seeking a resolution to the controversy through the office of the Secretary General of the United Nations. Venezuela President, Hugo Chavez, on a number of occasions, has also supported this action. This is the position we have been working on and our position has not changed," he said.
Venezuela claims that following recently discovered information, disclosed by one of the original negotiators, the agreement was null and void and, consequently, reaffirms its claim to a mineral rich portion of land in Guyana's Essequibo region along the current political boundaries.
However, while claiming "nullity" and a "grave injustice" in the arbitral award that ruled to be a full and final settlement the demarcation of existing boundaries between the two nations, Venezuela has stated its commitment to a resolution within the framework of the February 1966 Geneva Agreement.
The Venezuelan Foreign Ministry's communique states that it will comply with the Agreement's outlines for dealing with border disputes and will seek a satisfactory solution within international law.
"In this regard, the Ministry expresses satisfaction with the Good Offices of the UN Secretary General, and ratifies Venezuela's determination to do all that is within its power to guarantee success.
"It considers this moment opportune to highlight the auspicious climate of understanding existing between the governments and people of Venezuela and Guyana, as expressed by Presidents Chavez and Jagdeo."
However, the Guyana Foreign Ministry has stated that, while Guyana remains committed to "good and peaceful relations" with its Spanish-speaking neighbour and it "totally and firmly rejects" any claim to its territory or that the 1899 arbitral award was null and void.
Caricom also threw its support behind Guyana at its annual Heads of Government Meeting in Trinidad last October encouraging both countries to look for a peaceful settlement of the controversy.