Azabache Energy Inc.

Azabache Energy Inc.

December 30, 2013 17:35 ET

Azabache Announces Closing of Participation Agreement for Vaca Muerta Assets and Appointment of New Director

CALGARY, ALBERTA--(Marketwired - Dec. 30, 2013) -


Azabache Energy Inc. (TSX VENTURE:AZA) ("Azabache" or the "Company") - Further to the Company's press release dated December 12, 2013, the Company is pleased to announce that it has, effective December 27, 2013, closed the Participation Agreement with RIO BRAVO COMMERCIAL ENTERPRISES INC., in respect of the Company's Vaca Muerta assets. Transfer of direct interest in such assets remains subject to the approval of the Province of Neuquén.

Azabache is also pleased to announce the appointment of Mr. Dominic Dacosta as a director of the Company subject to obtaining the TSX Venture Exchange's required approval. Mr. Dacosta has been a partner with the law firm Dacosta Ordoñez Abogados in Colombia since 2011. Mr. Dacosta is a Director of Petroleos del Mar, Latco Drilling S.A., Gasoducto Movil de Colombia S.A. E.S.P, Integral de Servicios Tecnicos S.A. and Geoespectro S.A.S. He is also the registered legal representative in Colombia of Petrolera Monterrico S.A. Mr. Dacosta holds a degree in law, studies in international law at Pontificia Universitá S. Tommaso D'Aquino and a postgraduate degree in business law from Universidad Externado de Colombia.

For further information on Azabache please visit the Company's website at

Neither the 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.

This press release contains forward-looking statements. More particularly, this press release contains statements concerning the anticipated approval of the Participation Agreement and the approval of the appointment of Company's new director. Forward-looking statements contained in this document are based on certain key expectations and assumptions made by Azabache, including with timing of receipt of the required approvals. Although Azabache believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Azabache can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks.

These include, but are not limited to, the failure to obtain necessary regulatory approvals, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price and exchange rate fluctuations. The forward-looking statements contained in this document are made as of the date hereof and Azabache undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

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