Platino Energy Corp. Announces Spudding of the Coati-1 Exploration Well on the Coati Block in the Southern Putumayo Basin of ...

Platino Energy Corp. ("Platino" or the "Company") (TSX VENTURE:PZE) is pleased
to announce the spud of its first exploration well on the Coati Block in the
Southern Putumayo Basin of Colombia. The planned total depth ("TD") of the well
is approximately 10,500 feet with the primary target being the Caballos
Formation with secondary targets in the shallower Villeta sandstones. The
planned drilling time to reach TD is expected to be approximately 45 days using
a 1,500 HP electric top-drive Pioneer rig. Once TD is reached, the Company plans
to conduct an extensive test program on multiple zones. It is expected that
results from the well will be released in Q3 2013. 


According to Dr. Tomas Villamil, President & CEO of Platino, "The Coati-1 well
is targeting what we believe to be the largest prospect within the Platino
portfolio, and one of the most significant conventional exploration targets in
Colombia this year."


Platino currently holds a 100% working interest in the Coati Block(1) with its
interest reducing to 80% once its partner, Canacol Energy Ltd., earns a 20%
interest pursuant to an amended farm-in agreement announced in May 2013.


About Platino Energy

Platino is a Calgary, Alberta headquartered resource company engaged in the
exploration for, and the acquisition, development and production of hydrocarbons
in Colombia.


For further information please refer to Platino's website at www.platinoenergy.com.

(1) Interest in the Coati Block is a result of the spin-off of certain
exploration assets formerly belonging to C&C Energia Ltd. to Platino. Platino is
pursuing regulatory approval to be recognized as operator of record of the
block.


Advisory Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of
applicable securities laws. The use of any of the words "will", "believe",
"expected", "intends" and similar expressions is intended to identify
forward-looking information concerning the Company's future operations and
performance, including its drilling plans for the Coati-1 well and exploration
plans for the Company's Coati block.


The forward-looking information in this news release is based on certain key
expectations and assumptions made by Platino, including assumptions as to: the
timing and progress of work relating to Platino's Coati-1 well and the Coati
block; Platino's geological and engineering estimates; taxes; the geography of
the areas in which Platino will conduct exploration and development activities;
the sufficiency of budgeted capital expenditures in carrying out planned
activities; the accuracy of testing results and seismic data; and the accuracy
of resource estimates and the general continuance of current or, where
applicable, assumed operational, regulatory and industry condition. Although
Platino believes that the expectations and assumptions on which such
forward-looking information is based are reasonable, undue reliance should not
be placed on the forward-looking information because Platino can give no
assurance that it will prove to be correct.


The forward-looking information in this news release is subject to known and
unknown risks and uncertainties and other factors which may cause actual results
to differ materially from those expressed or implied in the forward-looking
information. Such risks, uncertainties and factors include, among others: the
inability to secure necessary regulatory or other third party approvals; the
nature of the exploration and development activities on Platino's assets;
difficulties encountered during the exploration for, delineation, development
and production of oil. As a result of the foregoing, readers should not place
undue reliance on the forward-looking information contained in this news
release. Readers are cautioned that the foregoing list of factors is not
exhaustive. Additional information on these and other factors that could affect
the operations or financial results of Platino are included in the Listing
Application (Form 2B) of Platino filed with the TSX-V, which has been filed with
applicable securities regulatory authorities and may be accessed through the
SEDAR website www.sedar.com.


The forward-looking information contained in this news release is made as of the
date hereof and Platino undertakes no obligation to update publicly or revise
any forward-looking information, whether as a result of new information, future
events or otherwise, unless so required by applicable securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Platino Energy Corp.
Tomas Villamil
President & Chief Executive Officer
Bogota
[phone]


Platino Energy Corp.
Tyler Rimbey
Vice President, Business Development
Calgary
[phone]
www.platinoenergy.com