Azabache Announces Engagement of Reservoir Engineers and Correction to Stock Option Grant

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES.


Azabache Energy Inc. ("Azabache" or the "Company") (TSX VENTURE:AZA) is pleased
to announce that it has retained Gaffney Kline & Associates of Houston, Texas to
conduct a full field resource report on the Company's Covunco Norte Sur Block,
Neuquen Province in Argentina (the "Block") and in particular the Vaca Muerta
formation. The Company expects the report to be completed in the third quarter
of 2014. This report when completed will be helpful to Management as it seeks to
commercialize the Block by means of the injection of further capital or a
suitable joint venture partner.


The Company as well advises that on June 6, 2014, it announced the issuance of
11,025,000 stock options ("Options") of the Company, which announcement was made
in error. The Company announces that pursuant to the terms of its stock option
plan, its Board of Directors has approved the granting of options to purchase an
aggregate of 7,375,000 common shares, effective June 20, 2014, at a price of
$0.13 per share to certain of its directors, officers, employees and
consultants. After the grant, the Company will have 6,934,858 options available
for issuance.


The options will all have time vesting provisions with one-third vesting on the
date of grant, and one third on each of second and third anniversaries of the
date of grant. 


For further information on Azabache please visit the Company's website at
www.azaenergy.com.


This press release contains forward-looking statements. More particularly, this
press release contains statements concerning the timing for receipt of the field
resources report and its expected purpose. The forward-looking statements
contained in this document are based on certain key expectations and assumptions
made by Azabache. 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 complete the field
resource report in a timely manner or at all, risks associated with the results
of the field resource report and its intended purpose, 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.


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 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Azabache Energy Inc.
Claudio Larotonda
President & CEO
+54.11.4893.4004
[e-mail]


Azabache Energy Inc.
Marc Bouchard
CFO
+647.409.4088
[e-mail]
www.azaenergy.com