Suroco Energy Inc. Reconfirms Unanimous Director Support for Petroamerica Arrangement and Provides an Update to Shareholders - Seite 2

Suroco continues to receive indications from significant Suroco shareholders that such shareholders prefer to receive stock of the combined company, rather than be cashed out. This includes new material indications received over the past few days in favour of an option providing share ownership in a public entity which would own the combined asset base.

The Petroamerica Arrangement is scheduled to be placed before Suroco shareholders for approval at the Annual and Special Meeting of Suroco shareholders to be held at 10:00 a.m. (Calgary time) on Monday June 30, 2014, with a proxy deadline of 8:00 a.m. (Calgary time) on such date.

If you have any questions or require more information with regard to voting your shares of Suroco Energy Inc., please contact Georgeson, Toll-Free in North America at 1-888-605-7641 or outside North America, collect at 781-575-2422 or via email at [e-mail].

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, Suroco's consideration of the Vetra 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.