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 its wholly owned subsidiary, Suroco Energy SLU, has acquired a
25% interest in the Putumayo 2 Block in Colombia (the "Block") from PetroNova
Inc.'s (TSX VENTURE:PNA) wholly owned subsidiary, PetroNova Colombia Inc.
("PetroNova"). Upon approval by the Agencia Nacional de Hidrocarburos of
Colombia, the 25% economic interest in the Block acquired from PetroNova will
convert into a full 25% undivided working interest in the Block. 


Mr. Alastair Hill, the Corporation's President and Chief Executive Officer
commented, "We are very excited to have come to this agreement with PetroNova
because we believe that the Putumayo 2 Block is located in a prospective area of
the basin for hydrocarbon charge. Within this undrilled Block there is an
excellent quality 3D seismic grid which was acquired by PetroNova in 2011 and
which confirmed the presence of several features, including a large four-way dip
closed structural feature in the northern area of the Block which will be
drilled with the first well. An added benefit to Suroco is that the southern
area of the Block contains a large structural lead, previously recognized by
both Suroco and PetroNova, which extends across the Block boundary into Suroco's
Alea 1947C Block and therefore allows us to consolidate our ownership in this
lead. In addition to pure structural plays, we believe the Block contains
potential for combined structural-stratigraphic plays similar to the Cohembi
oilfield which we are actively developing at this time. Completing this
acquisition shortly before drilling operations has allowed us to minimize the
cycle time from first investment to exploration drilling".


Suroco Energy SLU has acquired the 25% interest in the Block in exchange for:
(a) the payment to PetroNova of US$3 million, representing 25% of the back costs
for 2D and 3D seismic incurred to date on the Block, (b) the payment of
US$199,165 representing 25% of the incurred costs in preparation for the first
exploration well to be drilled on the Block, and (c) the agreement by Suroco
Energy SLU to fund the first US$6 million in costs for the first exploration
well drilled on the Block, after which PetroNova will pay the next US$3 million
in such costs, and thereafter, if applicable, the parties will pay costs on the
basis of their respective interests in the Block. 


Civil construction activities are underway and it is anticipated that the first
exploration well at the Canelo Sur 2 location will commence drilling in the
third quarter of 2013. The well is targeting multiple reservoir objectives in
the Villeta Formation and is expected to take approximately 45 days to drill,
excluding any testing and completion activity that may be required.


Fit to Strategy

The acquisition of the interest increases the Corporation's net right holdings
in the central Putumayo Basin by over 24,000 acres (approximately 97 sq kms). It
provides a near-term opportunity for exploration drilling and adds to the scope
of the Corporation's exploration portfolio. The Corporation concluded a US$21
million credit facility in March 2013 and expects to fund this drilling
opportunity with cash on hand.


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.


An updated corporate presentation setting forth details of the Corporation's
2013 program will be available shortly on the Corporation's website at
www.suroco.com.


Forward-Looking Statements

This press release contains forward-looking statements relating to operational
and exploration activities for Suroco, the evaluation of certain prospects in
which the Corporation holds an interest, estimated timing of drilling of wells,
funding of drilling, 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,
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 risk that the
conversion of the Corporation's 25% economic interest in the Block into a full
25% undivided working interest in the Block will not occur if the necessary
approvals are not obtained; 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.


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.


The TSX Venture Exchange has in no way passed on the merits of the acquisition
of the interest in the Block by the Corporation and has neither approved nor
disapproved the contents of the press release.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release. 


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


Suroco Energy Inc.
Travis Doupe
VP Finance and Chief Financial Officer of the Corporation
(403) 232-6784
(403) 232-6747 (FAX)
www.suroco.com

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