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 Cohembi-4 appraisal well was tested with an initial rate of
1706 barrels of oil per day (249 barrels of oil per day net to the Corporation
after royalty). The Corporation also confirms the exercise of 13,285,000 common
share purchase warrants (the "Warrants").


Cohembi-4 Well 

The Cohembi-4 well was tested into lease tanks with a variable speed electric
submersible pump on July 10, 2012. The well was pumped for 14 hours, then was
shut in for a pressure build up test to obtain an accurate initial reservoir
pressure. The rate during the final three hours was equivalent to 1706 barrels
of oil per day (249 barrels of oil per day net to the Corporation after royalty)
with a declining watercut of 5%. The Corporation interprets the initial water
production to be recovery of workover fluid or filtrate used during drilling and
completion operations. A flowline to the Cohembi producing facility is expected
to be in place within the next few weeks to allow continuous production from
Cohembi-4. The drilling rig is now being moved to spud the Cohembi-11 well from
the same Cohembi-4 surface pad, with a targeted bottomhole location
approximately 1.2 kilometers west of Cohembi-4. 


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


Exercise of Warrants 

As announced in Suroco's press release of July 9, 2009, the Corporation had
completed a private placement of equity units, which equity units were comprised
of common shares and Warrants. The Warrants had an exercise price of $0.35 per
share and expired on July 9, 2012. The Corporation is pleased to announce that
13,285,000 Warrants have been exercised for total proceeds of $4,649,750, with
10,260,000 of such Warrants being exercised during 2012. 


The Corporation's 2012 capital program is expected to be funded from internally
generated cashflow and existing working capital. In addition to the recent
exercise of the warrants, the Corporation has an unused bank facility of
approximately US$4.7 million with a Colombian bank. 


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, estimated number of
drilling locations, expected capital program (including its allocation),
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; 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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