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-8 appraisal well in the Suroriente Block has been
placed on production. The Corporation also announces an average monthly
production rate of 1,117 barrels of oil per day net after royalty in August.


Mr. Alastair Hill, the Corporation's President and Chief Executive Officer
commented, "Cohembi-8 is the fifth successful well we have brought on stream
this year, maintaining a 100% success rate. Through this drilling we have
extended the proven oil-bearing area and have confirmed a vertical oil column in
excess of 150 feet, with no oil-water contact encountered. 


Prior to Cohembi-8 coming on stream, crude oil production has averaged 1,117
barrels of oil per day net to the Corporation after royalty in August and 987
barrels per day in July. Importantly we have been able to add several new sales
points in the Upper Magdalena area, which reduces our reliance on the
Trans-Andean ("OTA") pipeline, which has seen numerous disruptions this year. At
the present time we have the ability to sell approximately half of the crude
volume from the Suroriente Block on pipelines outside of the Putumayo Basin."


Cohembi-8 Well

The Cohembi-8 well is the third successful well drilled from this surface pad
and drilling will now focus on the central and southern areas of the Cohembi
accumulation where at least five wells are planned. The Cohembi-8 well was
spudded on August 12, 2012 and drilled directionally to the southeast from the
Cohembi-4 surface pad. The Cohembi-8 well reached a total depth of 9,390 feet
(8,696 feet true vertical depth), and encountered 13 feet of oil pay with no
indication of an oil-water contact. The well has recently been completed and has
commenced production at lower than expected rates, fluctuating around an average
of approximately 150 barrels of oil per day (22 barrels of oil per day net to
the Corporation after royalty). Further testing and analysis is underway to
determine whether the well productivity can be improved through a workover or
well stimulation treatment.


Operations Update

The drilling rig will now move to the Cohembi-2 multi-well pad, where two wells
will be drilled in order to fully develop the area around the Cohembi-1 well,
which is scheduled for conversion to water injection in October of 2012, thereby
commencing the first stage of what will ultimately become a field-wide pressure
maintenance scheme. This scheme is intended to increase and optimize the amount
of oil which can be recovered from the original oil in place. Modeling and
simulation results indicate that a recovery factor of 25-40% can be expected
with a successful pressure maintenance scheme. Later this year the rig will
commence drilling southern area delineation wells from the planned multi-well
pad at Cohembi-6.


Production Update

For the month of August production from the Suroriente Block has averaged 1,117
barrels per day net to the Corporation after royalty and 987 barrels per day net
to the Corporation after royalty for the month of July. The Corporation has not
been affected by production disruptions since mid-August, due to the arrangement
of alternative shipping routes to the OTA pipeline and a reduction in OTA
pipeline disruptions. For the ten days of production prior to the start-up of
the Cohembi-8 well, Suroriente Block production averaged 1,243 barrels of oil
per day net to the Corporation after royalty. 


Further details explaining the Corporation's activities and 2012 drilling
program are contained in an updated 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 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, the ability of the Corporation to sell its crude volume 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 transportation 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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