C&C Energia Ltd. provide an operations update on its current activities in Colombia.

In the past 60 days the Corporation completed the drilling of five wells (three exploratory tests, and two development wells) in the Llanos Basin.

On the Cravoviejo block (100% working interest) an exploratory well was drilled and completed at Saimiri-1 on the west side of the block approximately 3.5 km northeast of the Zopilote field. Saimiri-1 was drilled to 10,267 measured depth and completed in the Gacheta Formation over the interval 9,852 feet to 9,865 feet. Saimiri-1 was placed into production on June 2, 2012 at a rate of approximately 300 bopd of 24° API oil. In the Zopilote field, the Zopilote-8 well was drilled and completed in the Gacheta Formation and is expected to be placed on production over the next five to seven days. The pre-production test rates were 285 bopd of 17° API oil. Zopilote-11 recently reached total depth of 9,131 feet and has been cased to total depth and is currently being completed and tested in the Gacheta Formation.

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