Suroco Energy Inc. announce that its wholly owned subsidiary, Suroco Energy SLU, has completed the acquisition of a 50% interest in the Putumayo-7 Block in Colombia (the "PUT-7 Block") from Petrocaribbean Resources Ltd. (PCR). Upon approval by the Agencia Nacional de Hidrocarburos of Colombia (the "ANH"), the Corporation's 50% economic interest in the PUT-7 Block will convert into a full 50% undivided working interest.

On May 6, 2014, the Corporation entered into a definitive agreement (the "Agreement") with PCR and PetroGranada Colombia Limited (PGC) to acquire a 50% interest in the Putumayo-7 Block in Colombia (the "PUT-7 Block") from PCR.

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