Santa Maria Petroleum Inc. Announces the Results of the Special Shareholders' Meeting

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S. 

Santa Maria Petroleum Inc. (The "Company") (TSX VENTURE:SMQ) announces the
voting results of our special meeting of shareholders ("AGM") held on January
22, 2014. 


The Shareholders voted to approve the sale of all or substantially all of the
assets of the Company on the terms, conditions and provisions as substantially
described in the management information circular of the Company dated December
23, 2013. The sale of the assets will be completed through a disposition of a
wholly-owned subsidiary of the Company that owns the Company's Colombian branch,
including any of its rights or obligations, any recovery or liability associated
with applicable incomes taxes and VAT and its participation interest in the
investments, income and revenues of the LLANOS 27 Project (the "Project") in the
Llanos Basin in Colombia, which disposition constitutes all or substantially all
of the assets of the Company (the "Transaction"). The Transaction is being
completed pursuant to a share purchase agreement between the Company and Global
Oil & Gas Services Ltd. ("Global") dated November 21, 2013 and amended December
18, 2013 (collectively, the "Share Purchase Agreement"). Pursuant to the Share
Purchase Agreement, Global will replace the US$1.85 million letter of credit
that has been provided by Santa Maria to the Agencia Nacional de Hidrocarburos
("ANH") in order to guarantee the operator's work commitments on the Project and
the remaining cash balance, subject to any working capital adjustments provided
for in the Share Purchase Agreement, will be released to Santa Maria. As of the
date of this press release, the letter of credit that Global arranged to replace
the letter of credit provided by Santa Maria has been accepted by the ANH. The
Company expects to conclude the transaction by February 28, 2014. 


The Transaction was previously announced by the Company in a press release dated
November 25, 2013. A copy of the press release and Share Purchase Agreement is
available on the Company's profile at www.sedar.com. 


Santa Maria has been advised by the TSX Venture Exchange that upon closing of
the transaction the common shares of Santa Maria will be moved from the Venture
Exchange to the NEX and will trade on the NEX Board. 


Cautionary Statements 

This news release may contain forward-looking information and forward-looking
statements within the meaning of applicable securities laws (together,
"forward-looking information"). The use of any of the words "expect",
"anticipate", "continue", "estimate", "believe", "plans", "intends",
"confident", "may", "objective", "ongoing", "will", "should", "project",
"should" and similar expressions are intended to identify forward-looking
information. 


The forward-looking information is based on certain key expectations and
assumptions made by Santa Maria. Although Santa Maria believes that the
expectations and assumptions on which the forward-looking information is based
are reasonable, undue reliance should not be placed on the forward-looking
information because Santa Maria can give no assurance that they will prove to be
correct. 


Since forward-looking information addresses future events and conditions, by its
very nature it involves 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 inherent risks involved in
the exploration and development of oil and gas properties, the uncertainties
involved in interpreting drilling results and other geological data,
uncertainties relating to fluctuating oil and gas prices, the possibility of
cost overruns or unanticipated costs and expenses and other factors including
unforeseen delays. Anticipated exploration and development plans relating to
Santa Maria's properties are subject to change. 


The foregoing list of assumptions, risks and uncertainties is not exhaustive.
The forward-looking information contained in this press release is made as of
the date hereof and Santa Maria 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. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Santa Maria Petroleum Inc.
Ronald MacMicken
President & Chief Executive Officer
416-943-0021
[e-mail]
www.smpetroleum.com