SRN

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Suroco Energy Inc. (TSX VENTURE:SRN) ("Suroco" or the "Corporation") announces
the following operational updates on its activities in Colombia. 


Lapa-1 Exploration Well, San Antonio Block

The Lapa-1 exploration well in the San Antonio Block in Colombia commenced
drilling on February 9, 2012 and reached total depth of 2,493 meters on February
23, 2012. The well encountered minor oil and gas shows in the well-developed
Mirador, Gacheta and Une Formations. Log evaluation and side wall cores
subsequently confirmed that these zones do not contain moveable hydrocarbons and
the well has been abandoned. The net well cost to the Corporation, for its 28%
economic interest in the Lapa-1 well, was limited to US$0.5 million pursuant a
turnkey agreement between the Corporation and its partners in the San Antonio
Block. The gross cost of the well is anticipated to be approximately US$6.2
million including civil works and lease construction.


Operational Update, Suroriente Block

Production from the Suroriente Block in the Putumayo Basin, where the
Corporation holds a 15.8% working interest, averaged 6,354 barrels of oil per
day (926 barrels of oil per day net to the Corporation after royalty) during the
month of February. Received pricing from recent oil sales has varied between
US$99 to US$105 per barrel.


Cohembi Oilfield Drilling Preparations: Civil work and surface pad preparations
are now largely completed and drilling operations at the Cohembi-5 well are
anticipated to commence in mid March. This will be the first of approximately
six appraisal/stepout wells to be drilled in the Cohembi oilfield during 2012.
The Cohembi-4 multi-well surface pad is progressing in order for it to receive
the drilling rig immediately after the Cohembi-5 well is drilled and completed.
The objectives of the Cohembi drilling program were previously explained in the
Corporation's press release of February 24, 2012 which also announced the
year-end reserves information.


Curiquinga-1 Well On Production:  Following a workover and installation of a
hydraulic rod pump unit, the Curiquinga-1 well was placed on production on
February 25, 2012. The well, which previously produced from the Villeta T
reservoir, has been converted to a Villeta U producer. On test production the
well has been producing at approximately 50 barrels per day of 15 degree API oil
(approximately 8 barrels of oil per day net to the Corporation after royalty).
The oil gravity in this particular well is more economically suited to a rod
pump production method.


Quillacinga Field Water Handling Facility: Construction work is underway to
install a water injection facility at the Quillacinga oilfield. Under new
Colombian regulations, the produced water is required to be disposed of by
sub-surface injection. The Corporation expects to be able to handle all the
produced water by injection into the non-producing Quillacinga-1 wellbore, which
has obviated the requirement to drill a dedicated water injection well. In the
future it is conceivable that this produced water may be injected into the
nearby Cohembi oilfield to assist in pressure maintenance of that oilfield. 


Further details explaining the Corporation's activities and 2012 drilling
program are contained in a presentation on the Corporation's website at
www.suroco.com.


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, among
others, the operational and exploration activities for Suroco, the evaluation of
certain prospects in which the Corporation holds an interest, the estimated
gross costs of the Lapa-1 exploration well in the San Antonio Block, estimated
number of drilling locations, expected timing of commencement of drilling,
expected capital program (including its allocation), the ability to dispose of
produced water, production growth, 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; product supply and demand; market
competition; political and economic conditions in the country in which the
Corporation operates; the risk that the conversion of the Corporation's 28%
economic interest in the San Antonio Block into a full 28% undivided working
interest in the San Antonio Block will not occur if the necessary approvals are
not obtained; 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. 


Readers should also note that even if the 2012 drilling program as proposed by
Suroco is successful, there are many factors that could result in production
levels being less than anticipated or targeted, including without limitation,
greater than anticipated declines in existing production due to poor reservoir
performance, mechanical failures or inability to access production facilities,
among other factors.


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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