SRN

(NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA)

Suroco Energy Inc. (TSX VENTURE:SRN) ("Suroco" or the "Corporation") announces
that the Charapa-1 exploration well in the Alea 1848A Block in Colombia has
completed drilling and testing and is now in the process of being abandoned.


The Charapa-1 well spudded on October 2, 2011, targeting a structure mapped on
3D seismic with multiple potential hydrocarbon zones in Cretaceous aged
formations. Total depth was reached in this vertical well bore at 10,546 feet
and multiple crude oil and natural gas shows were encountered while drilling
through the Villeta Formation. Log analysis confirmed the presence of oil in the
Villeta U sand with additional potential hydrocarbons in the Villeta N sand. The
Charapa-1 well was cased, and testing commenced on December 1, 2011. The Villeta
U sand was tested using a hydraulic pump, and recovered formation water at a
gross rate of approximately 1600 barrels of water per day and 1% 24 API gravity
crude oil. The Villeta U sand was then isolated with a bridge plug, and the
Villeta N sand was perforated and swabbed with no significant inflow.


On a post-drilling basis, information gained from the well will now allow a more
accurate depth mapping solution to be made over the Charapa and other structures
in the block.


Based upon the occurrence of strong oil and gas shows observed whilst drilling
the Charapa-1 well in conjunction with multiple reservoir intervals and several
other mapped structures in the block the Corporation has elected to proceed into
the next phase of the exploration agreement, which will require the drilling of
an exploration well prior to the end of 2012.


Operational Update

The drilling unit that has been used to drill the Charapa-1 well will remain on
location while civil operations proceed for continuation of the multi-well
development drilling program in the Corporations' Cohembi oil field, in the
Suroriente Block.


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 the Corporation 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, abandonment of wells 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; product supply and demand; market
competition; political and economic conditions in the country in which the
Corporation operates; 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 the Corporation'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, 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.

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