Colonia Energy Corp. Announces Written Consent of Shareholders, Appointment of New Board of Directors and Management Team and Cl

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NEWS WIRE SERVICES.


Colonia Energy Corp. ("Colonia" or the "Corporation") (TSX VENTURE:CLA) is
pleased to announce that it has received the written consent of a majority of
its shareholders to its previously announced $7.5 million non-brokered unit and
common share private placements.


Colonia also announces that the previously announced change of directors and
officers of Colonia has been completed. The board of directors of Colonia is now
comprised of Michael Erickson, William Ambrose, D.M. (Bud) MacDonald, Don Boykiw
and Stephen Mannix. The senior officers of Colonia are now comprised of Michael
Erickson as President and Chief Executive Officer, Alex Wylie as Vice-President,
Finance and Chief Financial Officer, Paul T. Codd as Vice-President Engineering
and Chief Operating Officer, and William Young as Executive Vice-President,
Exploration.


Colonia also announces that it has closed the first tranche of its non-brokered
unit private placement (the "Unit Private Placement") and common share private
placement (the "Common Share Private Placement") (collectively, the "Private
Placements"). Pursuant to the Unit Private Placement, the Corporation issued
35,464,285 units (the "Units") at a price of $0.14 per Unit for gross proceeds
of approximately $4.95 million. Each Unit is comprised of one common share
("Common Share") and one purchase warrant ("Warrant") entitling the holder to
purchase one Common Share at a price of $0.18 per Common Share for a period of
five years from today. Pursuant to the Common Share Private Placement, the
Corporation issued 15,719,527 Common Shares (the "Common Shares") at a price of
$0.14 per Common Share for gross proceeds of approximately $2.2 million. Closing
of the balance of the Private Placements, for gross proceeds of approximately
$350,000, is expected to take place on or about November 23, 2009.


All Common Shares and Units issued under the Private Placements are subject to
contractual escrow with one third of such securities released each six months
from today.


The proceeds of the Private Placements will be used for general corporate purposes. 

Note Regarding Forward Looking Statements

This document contains forward-looking statements. More particularly, this
document contains statements concerning the use of proceeds of the Private
Placements.


The forward-looking statements are based on certain key expectations and
assumptions made by Colonia, including expectations and assumptions concerning
timing of receipt of required regulatory approvals and third party consents and
the satisfaction of other conditions to the completion of the remaining portion
of the Private Placements.


Although Colonia believes that the expectations and assumptions on which the
forward-looking statements are based are reasonable, undue reliance should not
be placed on the forward-looking statements because Colonia can give no
assurance that they will prove to be correct. Since forward-looking statements
address future events and conditions, by their very nature they involve 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, risks that required regulatory and third party approvals and
consents are not obtained on terms satisfactory to the parties, the board of
directors of Colonia determines that it would be in the best interests of
Colonia to deploy the proceeds for some other purpose and risks that other
conditions to the completion of the Private Placements are not satisfied on
anticipated timelines or at all.


The forward-looking statements contained in this press release are made as of
the date hereof and Colonia 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.