La Cortez Energy Inc. announced the operational update in Maranta Block. Emerald Energy Plc., the operator of the Maranta Block where La Cortez will hold a 20% working interest, reached the intended total depth of 11,578 ft on the Mirto-1 exploration well, with oil and gas shows recorded across the four target reservoirs. Flow testing operations were completed in the Villeta U and N sands in the Mirto-1 well. As previously indicated, The Villeta U sand interval produced an average oil rate of 731 barrels per day of 32.5 degree API (American Petroleum Institute) crude. The N sand, the upper most of the four sands tested in this well, produced oil of 15 degree API at an average rate of 247 barrels per day over a 48 hour period, with an average water cut of 64%. The well was completed with an Electric Submersible Pump (ESP) at 7,043 feet. The drilling rig was released on October 4th, 2009. The Maranta block covers an extension of 36,608 hectares in the foreland of the Putumayo Basin in Southwest Colombia, which has over the past several years been a region of significant new oil discoveries. The Putumayo 4 Block covers an area of 126,845 acres (51,333 hectares) located in the Putumayo Basin in southern Colombia and has over 1,200 Km of pre-existing 2D seismic, which is being reprocessed with expected completion by the end of November 2009. During this initial stage, the company and Petronorte have taken the necessary steps to obtain a preliminary status of environmental issues and to identify the number and location of communities and indigenous populations in the block in order to expedite the permitting and licensing processes. Under the terms of the E&P Contract, the company will acquire an additional 103 Km of 2D seismic in the first half of 2010, and expect to drill an exploratory well by the 2nd half of 2010. The E&P Contract will consist of two, three-year exploration phases and a twenty-four year production phase.

La Cortez Energy, Inc. provided an operational update. The company stated that La Cortez Energy Colombia, Inc. has entered into a joint operating agreement with Petroleos del Norte S.A. The company stated that it is looking for acquisition opportunities. Andres Gutierrez, President and CEO of La Cortez said: “We are very pleased with the progress of our operations in Colombia, especially with the successful results of our 1st exploratory well Mirto-1. We completed our third successful capital raise in eighteen months in September of this year, and these proceeds are expected to be sufficient to fund our near term operating commitments. It is expect that potential revenues from the Mirto#1 well to cover our working capital needs and any additional funds will be used primarily for the development of other growth opportunities, such as corporate and asset acquisitions, in addition to farm-in and other joint venture opportunities that are currently being evaluated in what is a very active transaction pipeline. We are very enthusiastic about our working relationship with Sinochem, our new partner in the Maranta Block. In regards to Putumayo-4, we fully expect to confirm our preliminary evaluation of the block prospectively and to further determine our drillable options through new seismic acquisition.”

La Cortez Energy Inc. announce the operational update: Emerald Energy plc the operator of the Maranta Block where La Cortez will hold a 20% working interest, reached the intended total depth of 11,578 ft on the Mirto-1 exploration well, with oil and gas shows recorded across the four target reservoirs. Three of the four potentially hydrocarbon bearing intervals have been flow tested with one (the Villeta U sand interval) flowing at a material initial oil rate. The fourth interval (the Villeta N sand interval) is currently being tested. The Caballos formation interval was flow tested with only formation water recovered at an average rate of 112 barrels per day. The Villeta T sand interval was also flow tested with an average oil rate of 8 barrels per day with a very high water production (water cut of 97%). The Villeta U sand interval (encountered at a depth of 11,030 feet) produced an average oil rate of 731 barrels per day of 32.5o API crude over a 48 hour period with a low average water production (water cut of 26%). An interval of 20 feet at the top of the sand was flow tested through a 128/64 inch choke, under artificial lift using a jet pump. The Villeta N sand interval (encountered at 10,405 feet deep) is planned to be flow tested after the flow testing operations are completed on the Villeta U sand.