Suroco Energy Inc. Announces Closing of $13.2 Million Private Placement

(NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA)

Suroco Energy Inc. (TSX VENTURE:SRN) (the "Corporation") is pleased to announce
it has completed the previously announced non-brokered private placement (the
"Private Placement") of common shares (the "Shares"). Aggregate gross proceeds
for the Private Placement were $13,177,553 with 29,283,446 Shares being issued.


The Shares issued pursuant to this Private Placement are subject to a hold
period and may not be sold or otherwise traded on or through the facilities of
the TSX Venture Exchange or otherwise in Canada or to or for the benefit of a
Canadian resident until January 28, 2011.


The Corporation intends to use the net proceeds of the Private Placement to fund
its exploration and appraisal activities in Colombia and for general corporate
purposes.


The Corporate has paid a finder's fee in the amount of $445,360, in connection
with subscriptions of $9,375,990 under the Private Placement.


The Corporation is a Calgary-based junior oil and gas company, which explores
for, develops, produces and sells crude oil, natural gas liquids and natural gas
in Colombia and Western Canada. The Corporation's common shares trade on the TSX
Venture Exchange under the symbol SRN. 


Forward-Looking Statements

This press release contains forward-looking statements relating to the use of
funds from the Private Placement. Readers are cautioned not to place undue
reliance on forward-looking statements, as there can be no assurance that the
plans, intentions or expectations upon which they are based will occur. By their
nature, forward-looking statements involve numerous assumptions, known and
unknown risks and uncertainties, both general and specific, that contribute to
the possibility that the predictions, forecasts, projections and other
forward-looking statements will not occur, which may cause actual performance
and results in future periods to differ materially from any estimates or
projections of future performance or results expressed or implied by such
forward-looking statements. These assumptions, risks and uncertainties include,
among other things: the state of the economy in general and capital markets in
particular.


The forward-looking statements contained in this press release are made as of
the date of this press release. Except as required by law, the Corporation
disclaims any intention and assumes no obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise. Additionally, the Corporation undertakes no obligation to
comment on the expectations of, or statements made by, third parties in respect
of the matters discussed above.


This press release does not constitute and the subject matter hereof is not, an
offer for sale or a solicitation of an offer to buy, in the United States or to
any "U.S Person" (as such term is defined in Regulation S under the U.S.
Securities Act of 1933, as amended (the "1933 Act")) of any equity or other
securities of the Corporation. The securities of the Corporation to be issued in
connection with the proposed Private Placement have not been registered under
the 1933 Act and may not be offered or sold in the United States (or to a U.S.
Person) absent registration under the 1933 Act or an applicable exemption from
the registration requirements of the 1933 Act.

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