Suroco Energy Inc. Announces Withdrawal of Award of Putumayo 12 Block in Colombia

Suroco Energy Inc. (TSXV:SRN) announced that the National Agency of Hydrocarbons of Colombia has published a revision to its previously announced award of the Putumayo 12 Block to a consortium in which the Corporation, indirectly through its wholly owned subsidiary Suroco Energy Colombia, was to participate as operator with a 50% working interest.

The press release is quoted as saying:

On August 6, 2010, the ANH announced, in its ‘definitive list for awarding of the blocks’, that it was awarding the Putumayo 12 Block to the Consortium. Subsequent to that announcement, an appeal was made contesting this award by a third party who had also bid on the Block. The ANH has apparently approved that appeal and has announced a revision resulting in the Block being awarded to that third party. The ANH has convened a public meeting for interested parties on October 8, 2010 to provide clarifications for the revisions, which representatives of the Corporation will attend.

Click here to access the entire press release

Click here to access Suroco Energy Inc. Corporate Site