Brownstone's Llanos Block 21 Operator Abandons Calacho-1 and Rocamao-1 Wells

TORONTO, ONTARIO--(Marketwired - June 10, 2013) - Brownstone Energy Inc. (TSX VENTURE:BWN)(OTCQX:BWSOF) ("Brownstone" or "the Company") has been informed by Omega Energy Colombia, the operator of the Llanos 21 block in the Llanos basin in Colombia, that it has abandoned the Calacho No. 1 and the Rocamao No. 1 wells. The wells were part of a continuous two well drilling and testing program carried out by the operator in fulfillment of the exploration requirements on the block. Completion and testing of the wells was delayed by a combination of weather conditions and blockades of industry access roads in the area by local citizens.

The C7 formation in the Calacho No. 1 well was recently tested. During the test period the C7 formation produced a total of 5857 barrels of fluid, consisting of 5669 barrels of water and 188 barrels of 35 degree API oil. The maximum fluid production rate was approximately 1450 barrels per day. The testing program was ended when the water cut reached 100%. With no further oil production, the operator made the decision to abandon the well.

The C7 formation in the Rocamao No. 1 well was also tested. The C7 formation produced 64 barrels of water in 3 hours at rates that fluctuated between 192 and 336 barrels of fluid per day. Total testing resulted in the production of 329 barrels of water with no oil produced and the decision was made by the operator to abandon the well. With no oil produced, the operator made the decision to abandon the well.

Brownstone has satisfied its financial obligations in respect of the block and following the abandonment of both the Calacho No. 1 and the Rocamao No. 1 wells, intends to terminate its remaining interest in the block.

About Brownstone

Brownstone Energy Inc. is a Canadian-based, energy focused company with direct interests in oil and gas exploration projects, including varying interests in three off-shore Israel concessions and in three Colombian blocks in the Llanos basin, as well as other oil and gas interests worldwide. By owning and managing a diversified portfolio of energy-based projects, Brownstone provides shareholders with a unique energy alternative. For additional information, please see Brownstone's website: www.brownstoneenergy.com.

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