Problem solved:
# Download : hg clone https://web2py.googlecode.com/hg/ web2py# Follow the 
instructions: 

Title : Using psycopg2 with virtualenv on UbuntuLink: 
http://www.saltycrane.com/blog/2009/07/using-psycopg2-virtualenv-ubuntu-jaunty/

Check your syntax :
# *db* = *DAL*('*postgres*://myself:mypass@127.0.0.1:5432/mydatabase')

Enjoy it!

Now, do we have to migrate web2py database and reimport it again? : 
Short tutorial to migrate web2py database - model and 
data<http://alexandremas.blogspot.com/2009/11/short-tutorial-to-migrate-web2py.html>

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