Suroco Energy Inc.
TSX VENTURE : SRN

Suroco Energy Inc.

December 16, 2011 19:10 ET

Suroco Energy Inc. Announces Temporary Suspension of Operations at its Suroriente Block in Colombia

CALGARY, ALBERTA--(Marketwire - Dec. 16, 2011) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Suroco Energy Inc. (TSX VENTURE:SRN) (the "Corporation") today announces that operations in the Suroriente block in the Putumayo Basin of Colombia have been temporarily suspended.

The suspension was initiated due to civil demonstrations and illegal road transport blockages that occurred between December 11 and December 14. Following the road closures, production activity continued until available storage tanks were filled, at which point a decision was made to suspend production operations until they can safely be resumed.

The road transport blockages are no longer in place, and the Operator is now working to recommence production operations. The Corporation's drilling operations in the adjacent Alea 1848 A block were unaffected by the demonstrations.

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.

Forward Looking Statements

This press release contains forward-looking statements relating to the operational and exploration activities for the Corporation 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, estimates, 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 ability of the Operator to recommence production operations in the Suroriente block in the Putumayo Basin of Colombia; 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 the Corporation'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, the Corporation 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, the Corporation undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

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