(NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA)

Suroco Energy Inc. (TSX VENTURE:SRN) ("Suroco" or the "Corporation") is pleased
to provide the following update on its operational activities in the Suroriente,
Alea 1848A and San Antonio Blocks in Colombia.


Pinuna-6 Well, Suroriente Block, Putumayo Basin

Drilling operations at the Pinuna-6 well have been completed. The well
encountered 41 feet of net oil pay in the primary target Villeta U sand and
additional indications of hydrocarbons in the Villeta T sand. A service rig is
now on the location and completion and testing operations focusing on evaluating
the Villeta U sand are proceeding.


Pinuna-4 Well, Suroriente Block, Putumayo Basin

As described in the Corporation's press release of August 12, 2011, operational
problems on the Pinuna-4 well related to multi-zone completion equipment has
prevented the 21 foot net pay section encountered in the Villeta U sand from
being conclusively tested to date. Once the completion operations at the
Pinuna-6 well are completed, the service rig on that well will move to Pinuna-4,
the current completion equipment will be repaired or replaced as needed and the
Villeta U and T sand perforated intervals will be evaluated.


Alea 1848A Exploration Block, Putumayo Basin

A drilling rig is currently mobilizing to drill the first exploration well in
the Alea 1848A Block. The Charapa-1 well (previously referred to as Higueron-1
by the Corporation) is expected to commence drilling in early October and will
target a structural closure defined on 3D seismic which was acquired earlier
this year. The closure is located structurally updip from a legacy well on an
adjacent structure drilled in 1988 which recovered oil on test from the Villeta
U sands. If the Charapa-1 well is successful, there is another similar
structural closure along the same trend that could provide a future drilling
location. Further information regarding the Charapa-1 well can be found on the
Corporation's website.


San Antonio Exploration Block, Llanos Basin

As explained in the Corporation's press release of September 6th, the drilling
of the Poyato Sur- 1 well, which had been planned for October, has now been
re-scheduled to commence in late November.


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. 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
operational and exploration activities for Suroco, the evaluation of certain
prospects in which the Corporation holds 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; changes in
environmental and other regulations; risks associated with oil and gas
operations and future exploration activities; the need to obtain required
approvals from regulatory authorities; 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.


(TSXV:SRN)
Graphique Historique de l'Action
De Sept 2024 à Oct 2024 Plus de graphiques de la Bourse
(TSXV:SRN)
Graphique Historique de l'Action
De Oct 2023 à Oct 2024 Plus de graphiques de la Bourse