Brownstone Ventures Inc. provide the following update on operations in Colombia.

Canaguaro Block, Llanos - Brownstone has been advised by the operator, Quetzal Energy Ltd., that an electrical submersible pump ('ESP') has been installed in the Canaguay #1 well in the Llanos Basin, Colombia, and during a short period mechanical operation test of the ESP, the well produced oil at rates in excess of 3,900 bopd. The long term production test of the Mirador zone is expected to take place in February after necessary surface equipment is installed and required approvals are received. Brownstone has a 25% working interest in the Canaguaro Block.

Block 36, LLanos - The joint venture partners have commenced the acquisition of a 110 square kilometer 3D seismic survey on January 8, 2011, over a structure previously defined by 2D seismic on Block 36 in the Llanos Basin. The survey is expected to be completed in April. Brownstone has a 20% paying interest in Block 36, which is operated by Montecz S.A., and is earning a 14% working interest.

Block 21, Llanos - The joint venture partners are preparing to conduct a 94 square kilometer 3D seismic survey on Block 21 in the Llanos Basin, with field work expected to begin in February. Brownstone has a 50% paying interest in Block 21, and is earning a 35% working interest.

Block 27, Llanos - Brownstone and its partners have completed the 220 square kilometer 3D seismic survey on Block 27 in the Llanos Basin. Brownstone has a 50% paying interest before payout, and a 34.25% working interest after payout.

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