SRN

(NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA)

Suroco Energy Inc. (TSX VENTURE:SRN) ("Suroco" or the "Corporation") is pleased
to announce that the second appraisal well of the Cohembi field in the
Suroriente Block, Cohembi-3, has been successfully drilled and has encountered
the thickest oil pay section drilled to date in the Cohembi oil field.


Mr. Alastair Hill, the Corporation's President and Chief Executive Officer
commented: -


The Cohembi-3 results have exceeded our expectation, by encountering 23 feet of
continuous oil pay, the thickest oil pay interval in the field to date. With
this result we have so far proven up an oil column of 64 feet and have still not
observed any indication of an oil-water contact. The results of the Cohembi-2
and Cohembi-3 wells provide supporting evidence for our reservoir simulation and
material balance calculations which indicate the potential for a material
increase to the currently booked proven and probable reserves assigned to this
accumulation. Subsurface work on the Cohembi field will now focus on
assimilating the information we have gathered to progress a full field
development program, which will include further stepout drilling to locate the
field boundary and define water injection well locations for future pressure
maintenance. In addition, the Cohembi surface facilities have recently been
expanded to allow over 5,000 barrels per day of oil production. 


Cohembi-3 is the third successful well in our multi-well appraisal and
development drilling program in the Pinuna and Cohembi fields and the drilling
rig will now immediately move to the the Pinuna-4 location, where we are
targeting both the Villeta 'U' and 'T' reservoirs in an undrilled structural
feature located between the Pinuna and Frontera oil fields.


Cohembi-3 Well Results

The Cohembi-3 well was spud on April 14, 2011 and reached a total depth of 8,870
feet on April 30, 2011, and has encountered the thickest N sand oil section to
date in Cohembi. Total depth was reached in 17 days, 9 days faster than the
initial projected drilling time of 26 days. Openhole logs show that Cohembi-3
encountered 23 feet of high quality net oil pay with no indication of an
oil-water contact. Porosity in the interval is approximately 25% and
petrophysics indicates a low water saturation. The Cohembi-3 reservoir interval
represents the thickest oil pay section of the three wells in the field to date.
For comparison purposes, the Cohembi-2 well encountered 17 feet of oil pay and
is currently producing approximately 1,537 barrels of oil per day (224 barrels
of oil per day net to the Corporation after royalties) with no significant water
production. 


The Cohembi-3 well offsets the closest well, Cohembi-1, by 1.0 kilometre and
confirms the orientation and presence of an extensive reservoir fairway that
Suroco and the operator had identified prior to drilling using 3D seismic.
Cohembi-3 will now be completed and tested within the next two weeks, and then
tied in for permanent production. The production facilities at Cohembi have
recently been expanded and are now capable of handling over 5,000 barrels per
day of production (728 barrels per day net to the Corporation after royalties).


The Corporation's internally generated reservoir simulation and material balance
work indicates that the reservoir drive in the Cohembi N field is primarily
expansion of the relatively low-compressibility 19 API gravity oil, and has no
significant aquifer pressure support. The recovery factor in oil fields of this
nature benefit greatly from pressure maintenance by water injection and the
Corporation and its partner are in the process of defining a field development
plan that will target initiation of pressure maintenance by water injection in
2012. GLJ Petroleum Consultants, in its independent evaluation of the
Corporation's reserves effective December 31, 2010 have assigned reserves to the
Cohembi field on the basis of 8% recovery for total proved, 9% recovery for
total proved plus probable, and 15% recovery for total proved plus probable plus
possible reserves. 


Operations Update

Suroriente Block Production and Well Workover Program

The Corporation holds a 15.8% working interest in the Suroriente Block, where
production has averaged 930 barrels of oil per day net to the Corporation (after
royalties) for the 24 days from April 13, when the Pinuna-5 well was returned to
production, to May 5, 2011. 


Pinuna-4 Well

Upon being released from the Cohembi-3 well, the drilling rig is expected to
move immediately to the Pinuna area to a newly constructed multi-well pad to
target unrisked "prospective resources" which have been evaluated on a "best
estimate" basis to be approximately 2.3 million barrels of oil (approximately
0.4 million barrels of oil to the Corporation based upon its 15.8% working
interest and before royalties)(1) in Villeta U and T sands in an undrilled
structural feature located between the existing Pinuna production and the
Frontera field in Ecuador. The Frontera field has produced 14 million barrels of
oil from the Villeta U and T sands (independent source: IHS Energy reporting as
of April 2011). See "Definitions" section below for the definitions of
"prospective resources" and "best estimate".




(1) Evaluation of unrisked prospective resources pursuant to the evaluation 
    conducted by David Monroe, the Vice-President, Engineering of Suroco,   
    and Richard Harris, Manager of Geology of Suroco, both qualified        
    reserves evaluators, effective December 31, 2010. The prospective       
    resources estimated in that evaluation have not been risked for the     
    chance of discovery or the chance of development. There is no certainty 
    that any portion of the resources will be discovered. If discovered,    
    there is no certainty that it will be commercially viable to produce any
    portion of the resources. If a discovery is made there is no certainty  
    it will be developed or, if it is developed, there is no certainty as to
    the timing of such development. See "Definitions" section.              

                                                                            
Pinuna Field Workovers                                                      

1.  The Pinuna-5 well was returned to production on April 12, 2011 after
    reperforating all of the Villeta U perforated intervals with high
    performance charges and installing a repaired electric submersible pump.
    As of May 5, 2011 the well is producing approximately 1,453 barrels of
    oil per day (212 barrels of oil per day net to the Corporation after
    royalties) with a watercut of 40%. 
2.  A workover to repair a suspected tubing leak in the Curiquinga-1 Villeta
    T oil well (with the anticipated result of regaining approximately 80
    barrels of oil per day of production, which would mean approximately 12
    barrels of oil per day net to the Corporation after royalties),
    reperforate and retest the potentially oil-bearing Villeta Middle U sand
    (which is calculated to have 9 feet of net oil), and configure the well
    to produce selectively from either the currently producing Villeta T or
    the Villeta U has been completed. The well is expected to commence
    production within the next few weeks, and the long term producing
    configuration of the well will be decided after each zone is evaluated
    individually. 
3.  On April 30, 2011, workover operations commenced in Pinuna-2 well to
    perforate and test the oil-bearing Villeta U-Inferior sand (which is
    calculated to have 23 feet of untested net oil pay) and configure the
    well to produce selectively from either the currently producing Villeta
    T or the Villeta U, depending on test results. 



Exploration Activity in Putumayo Basin Blocks

A 3D seismic survey in the Alea 1848A Block (in which the Corporation holds a
50% working interest) has been completed, with good quality data results and is
now being interpreted in order to define several exploration leads that have
been identified on previously acquired 2D infill seismic. Once a prospect has
been matured for drilling, an exploration well is expected to be drilled in this
block in the second half of 2011. 


A 3D seismic survey in the northern part of the Suroriente Block (in which the
Corporation holds a 15.8% working interest) has been completed, with good
quality data results and is now being interpreted. The objective of the program
is to define exploration drilling opportunities along a structural trend that
includes the Quinde oil pool, where there is a suspended oil well. If results
are positive, it is anticipated that exploration and stepout drilling could
occur in this area of the Suroriente Block in late 2011. 


Exploration Activity in Llanos Basin Block

In the San Antonio Block (where the Corporation has exercised its option to
acquire a 28% working interest and which acquisition is pending approval from
the Agencia Nacional de Hidrocarburos of Colombia), surface construction work is
underway for the first and second exploration wells and, although delayed by
heavy rainfall, the two-well exploration program is expected to commence in
June. Subsurface locations have been selected based upon the recently acquired
3D seismic. 


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.


Further information about the Corporation can be found at the Corporation's
website (www.suroco.com), including an investor presentation, and under Suroco's
profile on SEDAR at www.sedar.com. Readers should note that on February 1, 2011,
Suroco filed its reports under section 2.1 of National Instrument 51-101, which
can be found for viewing by electronic means under Suroco's profile on SEDAR at
www.sedar.com).


Definitions

For the discussion of estimated prospective resources in this press release
above, the following terms have the following respective meanings:




--  "Prospective Resources" are those quantities of petroleum estimated, as
    of a given date, to be potentially recoverable from undiscovered
    accumulations by application of future development projects. Prospective
    resources have both an associated chance of discovery and a chance of
    development. Prospective Resources are further subdivided in accordance
    with the level of certainty associated with recoverable estimates
    assuming their discovery and development and may be subclassified based
    on project maturity. 
--  "Best estimate" is considered to be the best estimate of the quantity
    that will actually be recovered. It is equally likely that the actual
    remaining quantities recovered will be greater or less than the best
    estimate. If probabilistic methods are used, there should be at least a
    50 percent probability (P50) that the quantities actually recovered will
    equal or exceed the best estimate. 



Forward Looking Statements

This press release contains forward-looking statements relating to estimated
resources, the operational and exploration activities for Suroco, evaluation of
certain prospects in which the Corporation holds an interest or may acquire an
interest and other statements that are not historical facts. 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,
estimates, 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; fluctuations in oil
prices; the results of exploration and development drilling, recompletions and
related activities; the uncertainty of resources estimates; changes in
environmental and other regulations; risks associated with oil and gas
operations and future exploration activities; and other factors, many of which
are beyond the control of the Corporation. You can find an additional discussion
of those assumptions, risks and uncertainties in Suroco's Canadian securities
filings. 


The forward-looking statements contained in this press release are made as of
the date of this press release. Except as required by law, Suroco 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, Suroco undertakes no obligation to comment on the expectations of,
or statements made by, third parties in respect of the matters discussed above.

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