Suroco Energy Inc. Responds to Hostile Proposal

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Suroco Energy Inc. (TSX VENTURE:SRN) ("Suroco" or the "Corporation") is
responding to the June 9, 2014 press release of Vetra Acquisition Ltd.
("Vetra"), a wholly owned subsidiary of VETRA Holding S.a.r.l., wherein it
announced an offer to acquire the issued and outstanding common shares of Suroco
at $0.60 per share. Vetra's offer and takeover bid circular was filed on
Suroco's profile on SEDAR at www.sedar.com on the evening of June 9, 2014. As
such, the Board of Directors is carefully considering the offer, with assistance
of its independent financial and legal advisors, and anticipates being in a
position to respond in a short period of time. 


Given the foregoing, Suroco urges shareholders to not deposit any common shares
to the Vetra offer, not take any other action concerning the offer from Vetra
and not complete any proxy or letter of transmittal provided by Vetra, until
shareholders have received further communication from the Board of Directors of
Suroco.


There are numerous inaccuracies in the aforementioned Vetra press release that
Suroco will address when it makes further communication to shareholders.


As Suroco announced on April 28, 2014, the Corporation has entered into an
agreement with Petroamerica Oil Corp. ("Petroamerica") to sell all of the
Corporation's issued and outstanding common shares to Petroamerica by way of a
statutory plan of arrangement under the Business Corporations Act (Alberta) (the
"Arrangement"). Pursuant to the terms of the agreement with Petroamerica,
holders of common shares of Suroco will receive 1.7627 common shares of
Petroamerica for each common share of Suroco held. Shareholders of Suroco are
urged to carefully review 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. The Information Circular and
Proxy Statement provides a detailed description of the Arrangement, as well as
detailed information regarding Suroco and Petroamerica. 


Suroco has engaged Georgeson Shareholder Communications Canada, Inc. as its
information agent and to provide proxy solicitation services.


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, the timing of Suroco's response to
Vetra's offer and other statements that are not historical facts. 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. These
assumptions, risks and uncertainties include, among other things, 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
need to obtain required approvals from regulatory authorities; product supply
and demand; market competition; political and economic conditions in the country
in which the Corporation operates; 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, Suroco 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, Suroco 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
proposed transaction 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