Suroco Encounters 24 Feet of Net Oil Pay at Cohembi-6 Well and Spuds Cohembi-9 Well

(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-6 appraisal well in the Suroriente Block
encountered 24 feet of net oil pay and will commence production in early March,
2013. Drilling has now commenced from the same surface pad for the Cohembi-9
well, which will be directionally drilled 1.2 kilometers south of the Cohembi-6
well.


Mr. Alastair Hill, the Corporation's President and Chief Executive Officer
commented, "The results from the Cohembi-6 well have exceeded our expectations,
as we have encountered one of the thickest net pay intervals in the field to
date. This success gives us optimism as we continue our appraisal and
development in the southwestern quadrant of the field". 


Cohembi-6 Well

The Cohembi-6 well is the first well drilled from the newly constructed
Cohembi-6 surface pad. The operator of the Suroriente Block and the Corporation
now plan to drill three additional wells from the same pad. The Cohembi-6 well
was spudded on January 20, 2013 and drilled vertically to a total depth of 8,642
feet, approximately one kilometer south-west of the Cohembi-13 well (see the
Corporation's January 7, 2013 press release). It encountered 24 feet of high
quality oil pay with no indication of an oil-water contact. The reservoir
pressure measured during open hole logging operations confirmed good
connectivity with the main Cohembi pool. The Cohembi-6 well was subsequently
completed, and produced to the drilling rig tanks for a five hour period to
recover workover fluid and confirm inflow capability. Based on openhole logs and
the brief inflow test, the Corporation expects to produce Cohembi-6 at a
stabilized rate of approximately 1200 barrels of oil per day (175 barrels of oil
per day net to the Corporation after royalty) and zero percent watercut once
flowline construction is finalized. This construction is expected to be
completed in the first week of March, 2013.


Cohembi-9 Well

The Cohembi-9 well commenced drilling on February 20, 2013 and is expected to
take approximately 25 days to drill, complete, and place on production. This
well will be drilled 1.2 kilometers to the south of the Cohembi-6 well to
further delineate the southern area, which by the Corporation's technical
analysis is expected to hold a large portion of the remaining undeveloped
reserves in the Cohembi oilfield. 


Details explaining the Corporation's activities, guidance, and 2013 drilling
program will be updated within the next few days 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, reserves 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 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 2013 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Suroco Energy Inc.
Alastair Hill
President and Chief Executive Officer
(403) 232-6784
(403) 232-6747 (FAX)


Suroco Energy Inc.
Travis Doupe
VP Finance and Chief Financial Officer
(403) 232-6784
(403) 232-6747 (FAX)
www.suroco.com
(TSXV:SRN)
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