Azabache Announces Non-Brokered Private Placement

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) announces
that it intends to proceed with a non-brokered private placement (the "Private
Placement") of up to 10,000,000 common shares in the capital of the Company (the
"Common Shares") at a price of $0.20 per share for gross proceeds of up to
$2,000,000. 


Closing of the Offering is expected to occur on or about December 7, 2012 or
such other date as the Company may determine, and is subject to certain
conditions including, but not limited to, the receipt of all necessary approvals
including the approval of the TSX Venture Exchange (the "Exchange"). The Common
Shares issued pursuant to the Offering will be subject to resale restrictions
imposed by applicable securities laws and the policies of the Exchange.


The Company intends to use the proceeds from the Private Placement for drilling
and exploration activities and other costs associated with the Company's
Colombian operations. 


This press release contains forward-looking statements. More particularly, this
press release contains statements concerning the anticipated timing for the
closing of the Offering and the expected use of proceeds of the Offering. The
forward-looking statements contained in this document are based on certain key
expectations and assumptions made by Azabache, including with respect to the
anticipated timing for closing the Offering and the expected use of proceeds of
the Offering. 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.


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


Azabache Energy Inc.
Glenn Van Doorne
Chairman
+403.966.8739
[e-mail]
www.azaenergy.com