Azabache Energy Inc. Announces Strategic Review Process

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


Azabache Energy Inc. ("Azabache" or the "Company") (TSX VENTURE:AZA) announces
that its Board of Directors has formalized a process to identify, examine and
consider strategic options for the Corporation with the view to enhancing
shareholder value. 


The Company is an oil and gas exploration and production company listed on the
TSX Venture Exchange with properties in Argentina and Colombia including
approximately 161,211.64 gross acres in two blocks over the Vaca Muerta shale
play in Argentina. This acreage is one of the largest independently owned
positions in this highly regarded new shale play." 


The Company has engaged Toll Cross Securities Inc. ("Toll Cross") to act as
financial advisor to the Board. Toll Cross will assist in the process of
analyzing and evaluating options for the Company.  


The Company has not set a timetable for the completion of the review process and
it does not intend to comment further regarding the review process unless a
specific transaction is approved by the Board of Directors, the review process
is concluded, or it is otherwise determined that further disclosure is
necessary.


This press release contains forward-looking statements. 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. 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.