2010-01-14-2009-11-12

To acquire 19.24% WI in Cubiro Block in Colombia.

Alange Energy Corp., Toronto, (Toronto Venture: ALE) plans to acquire a 19.24% working interest in the Cubiro block in Colombia from privately held Columbus Energy Ltd. for C$20 million in cash. The transaction increases Alange's working interest in the developing area to 60.5% and to 70% of the overall Central Cubiro exploration area. As a result of this acquisition, Alange Energy's production from the Cubiro area will increase by nearly 50%, to 1,800 barrels of oil per day. The company expects production to reach 3,300 barrels of oil per day by the end of 2009 and to more than 6,000 barrels of oil per day by the end of 2010. Total oil reserves are expected to have increased as well. The deal is expected to close by Nov. 30.