Suroco Energy Inc. Announces Successful Discovery of New Pool With the Drilling of Quinde-7 Well

(NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA)

Suroco Energy Inc. (TSX VENTURE:SRN) ("Suroco" or the "Corporation") is pleased
to announce that the Quinde-7 well has tested at a stable rate of 800 barrels of
18 degree API oil per day by natural flow. Production capability from the well
is expected to be increased to approximately 1,500 barrels per day in the near
future with the installation of an electric submersible pump. Mr. Alastair Hill,
Suroco's President and Chief Executive Officer commented: "This new pool
discovery at Quinde-7 is a valuable addition to Suroco's producing asset base,
and is further proof of the extensive production and reserve potential yet to be
discovered in the Villeta N sand play in the Putumayo Basin". 


Drilling Update - Quinde Field, Suroriente Block 

The Quinde-7 well (see the Corporation's May 23, 2014 press release) has been
successfully drilled from the Quinde multi-well pad to a total depth of 11,613
feet, and a bottomhole location approximately 2.1 kilometers north-east of the
surface location. The well encountered 21 feet of high quality, oil-bearing net
pay in the Villeta N sand. Open hole logs showed no indication of an oil-water
contact in the well. The entire net pay interval was perforated, and the well
was produced by natural flow for a 20-hour period before being shut in to record
the initial reservoir pressure. Production stabilized during the flow period,
with an average rate of 800 barrels of 18 degree API oil per day (116 barrels
per day net to the Corporation after royalty) with less than 1% watercut during
the last five hours. 


This exploratory well was drilled to evaluate a seismically mapped amplitude
feature (Quinde East) that is a continuation of the Quinde West pool trend, on
the opposite side of a major structural fault. The net pay encountered at
Quinde-7 is consistent with the Corporation's pre-drill mapping of the prospect,
thus validating the previously released Suroco Internal Report (as described
below) estimate of 17.7 million barrels of undiscovered oil initially in place
and unrisked gross lease P50 prospective resource of 5.7 million barrels (0.85
million barrels net to the Corporation before royalty) in the Quinde East pool
(see the Corporation's March 24, 2014 press release). After the flow and buildup
test is complete, the Quinde-7 well will be equipped with an electric
submersible pump and is expected to commence production at an approximate rate
of 1,500 barrels of oil per day (219 barrels per day net to the Corporation
after royalty) into the existing Quinde production facilities. After completing
operations at Quinde-7, the rig will then commence drilling the Quinde-8 well
from the same surface pad. This well is an appraisal location that will evaluate
the southwestern extent of the Quinde West producing oil pool, approximately 1.8
kilometers west of the Quinde surface pad. 


Definitions

For the foregoing discussions in this press release, the following terms have
the following respective meanings:




--  "gross" refers to the Corporation's working interest (operating or non-
    operating) share before deducting of royalties and without including any
    royalty interests of the Corporation.  
    
--  "P50" refers to a "best estimate" case, which is considered to be the
    best estimate of the quantity that will actually be recovered. It is
    equally likely that the actual remaining quantities recovered will be
    greater or less than the best estimate. If probabilistic methods are
    used, there should be at least a 50 percent probability (P50) that the
    quantities actually recovered will equal or exceed the best estimate. 
    
--  "prospective resources" are those quantities of petroleum estimated, as
    of a given date, to be potentially recoverable from undiscovered
    accumulations by application of future development projects. Prospective
    resources have both an associated chance of discovery and a chance of
    development. Prospective Resources are further subdivided in accordance
    with the level of certainty associated with recoverable estimates
    assuming their discovery and development and may be subclassified based
    on project maturity. There is no certainty that any portion of the
    resources will be discovered. If discovered, there is no certainty that
    it will be commercially viable to produce any portion of the resources.
    The chance of discovery for the prospective resources in the Quinde East
    area at the time of the resource estimate was estimated to be 72%.
    Chance of development is considered to be 100% due to the fact that the
    pool can be developed from the current Quinde-2 multi-well pad, and can
    be brought on production to the existing facilities at that same
    location. 
    
--  "Suroco Internal Report" refers to the evaluation conducted by David
    Monroe, Vice-President, Engineering of Suroco, and Richard Harris,
    Manager of Geology of Suroco, both qualified reserves evaluators,
    effective March 1, 2014.  



General 

The Corporation 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. 


Forward-Looking Statements

Certain statements included in this press release constitute forward-looking
statements under applicable securities legislation. These statements relate to
future events or future performance of the Corporation. All statements other
than statements of historical fact are forward-looking statements. In some
cases, forward-looking statements can be identified by terminology such as
"may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate",
"predict", "potential", "continue", or the negative of these terms or other
comparable terminology. Forward-looking statements or information in this press
release include, but are not limited to, business strategy, priorities and
plans, expected production, the evaluation of certain prospects in which the
Corporation holds an interest, estimated number of drilling locations, expected
capital program (including its allocation), production growth, reserves growth,
receipt of necessary approvals and consents to complete the Arrangement,
expected closing time for the Arrangement, and other statements, expectations,
beliefs, goals, objectives assumptions and information about possible future
events, conditions, results of operations or performance. Readers are cautioned
not to place undue reliance on forward-looking statements, as there can be no
assurance that the plans, intentions or expectations upon which they are based
will occur. By their nature, forward-looking statements involve numerous
assumptions, known and unknown risks and uncertainties, both general and
specific, that contribute to the possibility that the predictions, estimates,
forecasts, projections and other forward-looking statements will not occur,
which may cause actual performance and results in future periods to differ
materially from any estimates or projections of future performance or results
expressed or implied by such forward-looking statements. The Corporation's
priorities disclosed herein are objectives only and their achievement cannot be
guaranteed.  


These assumptions, risks and uncertainties include, among other things,
assumptions inherent in current guidance; projected capital investment levels;
the state of the economy in general and capital markets in particular;
fluctuations in oil prices; the results of exploration and development drilling,
recompletions and related activities; changes in environmental and other
regulations; risks associated with oil and gas operations and future exploration
activities; the uncertainty of reserves and resources estimates; the uncertainty
of estimates and projections relating to production, costs and expenses; the
need to obtain required approvals from regulatory authorities; product supply
and demand; market competition; risks in conducting foreign operations (for
example, civil, political and fiscal instability and corruption); that the
Arrangement will be completed in the manner currently contemplated; and other
factors, many of which are beyond the control of the Corporation. You can find
an additional discussion of those assumptions, risks and uncertainties in
Suroco's Canadian securities filings. 


The forward-looking statements contained in this press release are made as of
the date of this press release. Except as required by law, the Corporation
disclaims any intention and assumes no obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise. Additionally, the Corporation undertakes no obligation to
comment on the expectations of, or statements made by, third parties in respect
of the matters discussed above. New factors emerge from time to time, and it is
not possible for management of the Corporation to predict all of these factors
and to assess in advance the impact of each such factor on the Corporation's
business or the extent to which any factor, or combination of factors, may cause
actual results to differ materially from those contained in any forward-looking
statement or information. The forward-looking statements contained herein are
expressly qualified by this cautionary statement. Moreover, neither the
Corporation nor any other person assumes responsibility for the accuracy and
completeness of the forward-looking statements. 


The TSX Venture Exchange Inc. has in no way passed upon the merits of the
Arrangement 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