Suroco Energy Inc.
TSX VENTURE : SRN

Suroco Energy Inc.

May 25, 2010 10:00 ET

Suroco Energy Inc. Announces Lifting of Trading Halt

CALGARY, ALBERTA--(Marketwire - May 25, 2010) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Suroco Energy Inc. (TSX VENTURE:SRN) (the "Corporation") is pleased to announce that the trading halt relating to its common shares is to be lifted prior to the opening of markets on May 26, 2010 and that the common shares of the Corporation are expected to resume trading on the TSX Venture Exchange (the "Exchange") on that day.

Trading in the common shares of the Corporation have been halted since April 20, 2010 in accordance with the policies of the Exchange when the Corporation entered into a binding letter of intent for the arm's length merger (the "Proposed Transaction") of the Corporation and Winchester Oil & Gas S.A. Please refer to the Corporation's press releases of April 22, 2010, April 30, 2010, May 4, 2010 and May 21, 2010 for more information about the Proposed Transaction.

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.

The TSX Venture Exchange has in no way passed on the merits of the Proposed Transaction and has neither approved nor disapproved the contents of the press release.Completion of the Proposed Transaction is subject to a number of conditions, including Exchange acceptance and disinterested shareholder approval. The Proposed Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Proposed Transaction will be completed as proposed or at all. Trading in the securities of the Corporation should be considered highly speculative.

Investors are cautioned that, except as disclosed in a disclosure document to be prepared in connection with the Proposed Transaction, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon.

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.

Contact Information

  • Suroco Energy Inc.
    Alastair Hill
    President and Chief Executive Officer of the Corporation
    (403) 232-6784
    or
    Suroco Energy Inc.
    Travis Doupe
    VP Finance and Chief Financial Officer of the Corporation
    (403) 232-6784