ISS Proxy Advisory Services Recommends Suroco Shareholders Vote in Favour of Arrangement Transaction With Petroamerica Oil Co...

(Not for dissemination in the United States of America)

Suroco Energy Inc. (TSX VENTURE:SRN) ("Suroco" or the "Corporation") reminds its
shareholders that ISS Proxy Advisory Services ("ISS") has published a report
recommending their clients vote IN FAVOUR of the previously announced
arrangement transaction with Petroamerica Oil Corp. ("Petroamerica") and that
the recently announced hostile bid by Vetra Holding S.a.r.l. (through its
wholly-owned subsidiary Vetra Acquisition Ltd.) (the "Vetra Offer") does not
appear compelling enough to warrant a change in its voting recommendation.  


In its June 9, 2014 report, ISS concluded that the proposed arrangement
transaction between Suroco and Petroamerica makes strategic sense as
Petroamerica is a much larger and well established player in the same segment
and further concluded that in light of the significant implied premium, the
favourable market reaction, and absence of significant governance concerns,
approval by Suroco shareholders of the arrangement with Petroamerica is
warranted.  


After consideration of the Vetra Offer, ISS issued an alert dated June 10, 2014,
wherein it confirmed no change in its voting recommendation IN FAVOUR of the
arrangement transaction with Petroamerica is warranted. 


ISS is a leading independent corporate governance analysis and proxy advisory
firm whose recommendations assist its clients in making choices regarding proxy
voting and transaction decisions. 


Suroco is a Calgary-based junior oil and gas company, which explores for,
develops, produces and sells crude oil, natural gas liquids and natural gas in
Colombia. The Corporation's common shares trade on the TSX Venture Exchange
under the symbol SRN. 


For more information about the proposed arrangement between Suroco and
Petroamerica, see the Corporation's Information Circular and Proxy Statement
dated May 27, 2014 that has been sent to shareholders and can be found on
Suroco's profile on SEDAR at www.sedar.com, and the Corporation's June 11, 2014
press release. 


The TSX Venture Exchange Inc. has in no way passed upon the merits of the
proposed arrangement with Petroamerica or offer from Vetra and has neither
approved nor disapproved the contents of this press release.


Neither 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: 
Suroco Energy Inc.
Alastair Hill
President and Chief Executive Officer
[phone]
[phone] (FAX)


Suroco Energy Inc.
Travis Doupe
VP Finance and Chief Financial Officer
[phone]
[phone] (FAX)
www.suroco.com