Suroco Energy Inc.
TSX VENTURE : SRN

Suroco Energy Inc.

November 10, 2009 19:48 ET

Suroco Energy Inc. Commences Development Drilling Program at Its Suroriente Block in Colombia and Resumes Normal Operations

CALGARY, ALBERTA--(Marketwire - Nov. 10, 2009) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Suroco Energy Inc. (TSX VENTURE:SRN) (the "Corporation") today announces that at 9:00 am MST on Tuesday, November 10, the Corporation commenced drilling Pinuna 2, the first well of the Corporation's two well development drilling program on the Suroriente Block.

The planned total depth of the well is 9,600 ft and is expected to take 35 days to drill and log before moving to the next location. The results of this initial two well program will help to define the Corporation's 2010 development drilling program in Suroriente, which is anticipated to be in excess of three wells.

The Corporation also announces that the temporary suspension of operations announced in our October 27 news release ended on November 1 and production was restored by November 2nd in all wells, with the exception of Pinuna 1 where the Corporation is completing a workover which resumed on November 5th and is expected to be completed by the middle of the month. The temporary road strike had a minimal impact on production volumes, with approximately 10 days of normal production being shut in.

The seismic acquisition program in the Alea 1947C block also in Putumayo was not been affected by the suspension of operations and is continuing normally.

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 and Western Canada. The Corporation's common shares trade on the TSX Venture Exchange under the symbol SRN.

Forward Looking Statements

Certain information regarding the Corporation contained herein may constitute forward looking statements within the meaning of applicable securities laws. Forward looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of facts. Although the Corporation believes that the expectations reflected in such forward looking statements are reasonable, it can give no assurance that such expectations will be realized. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward looking statements. The Corporation's forward looking statements are expressly qualified in their entirety by this cautionary statement.

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

Contact Information

  • Suroco Energy Inc.
    Travis Doupe
    VP Finance and Chief Financial Officer
    (403) 232-6784
    (403) 264-7455 (FAX)
    www.suroco.com