CALGARY, ALBERTA--(Marketwire - Feb. 9, 2012) - Sagres Energy Inc. (TSX VENTURE:SGI) ("Sagres" or the "Company") announced the results of an independent evaluation of the reserves and resource potential of the El Triunfo Block (the "Block") located in the Llanos Basin, Colombia. The terms under which Sagres would acquire its interests in the Block (the "El Triunfo Acquisition") are disclosed in Sagres' news release of December 5, 2011.

El Triunfo Block, Llanos Basin, Colombia

The Block is comprised of 25,205 gross acres in the oil-rich Llanos Basin in the Department of Casanare, Colombia. The Block contains an undeveloped historical discovery well, La Cabana-1, that was drilled in 1984, on the flank of the 3D seismically defined San Sebastian prospect, and tested 736 bopd with water from the Mirador Formation and 338 bopd with no water from the Gacheta Formation. The well was not put on production due to mechanical reasons. There has been no commercial production on the Block to date. Additionally there are several other undrilled prospects that have been identified on 3D seismic.

The evaluation

The reserves and resource information set forth below is based upon an evaluation by PetroTech Engineering Ltd. ("PetroTech") with an effective date of October 31, 2011 contained in PetroTech's report. The information below summarizes the crude oil reserves and resources and net present values of future net revenue for these reserves and resources using forecast prices and escalated costs and after the deduction of capital costs and royalties and both before and after the deduction of taxes.

Reserves

The following table sets forth Sagres' expected gross and net share of proved and probable undeveloped reserves attributed to the La Cabana discovery only and net share of the present worth of future net cash flows from such discovery (assuming completion of the El Triunfo Acquisition), both before and after the deduction of income tax discounted at 0, 5, 10, 15 and 20% expressed in United States dollars:

		Light and Medium Oil						Heavy Oil
Reserve Category		100% (Mbbl)		Gross (Mbbl)		Net (Mbbl)		100% (Mbbl)		Gross (Mbbl)		Net (Mbbl)
Proved Undeveloped		282		211		194		380		285		262
Total Proved		282		211		194		380		285		262
Probable		244		183		168		329		247		227
Total Proved Plus Probable		526		394		362		709		532		489

		Before Tax
		Net Present Value(1) (M$)
Reserve Category		0%		5%		10%		15%			20%
Proved Undeveloped		5,590		2,339		156		(1,324	)		(2,335	)
Total Proved		5,590		2,339		156		(1,324	)		(2,335	)
Probable		21,247		16,452		13,033		10,539			8,674
Total Proved Plus Probable		26,847		18,790		13,190		9,125			6,339

		After Tax
		Net Present Value(1)(2)(3) (M$)
Reserve Category		0%		5%		10%		15%			20%
Proved Undeveloped		5,863		2,911		902		(480	)		(1,441	)
Total Proved		5,863		2,911		902		(480	)		(1,441	)
Probable		14,410		11,157		8,841		7,150			5,886
Total Proved Plus Probable		20,273		14,068		9,744		6,670			4,445

Notes:
(1)	The estimated net present values do not represent a fair market value.
(2)	The after tax cash flows were conducted as follows: (i) tax incentive program for 2011 and 2012 - deduction of 30% of the investment capital towards corporate income tax reduction, the tax program stops at the end of 2012; (ii) the 3% tax on equity is calculated based on the higher value between 3% of the fiscal equity in the previous year and the results of the year; the fiscal equity is the total assets value less the liabilities, both based on the previous year; the results of the year are equal to income less costs, expenses, depreciations, depletion and amortization of the year; (iii) the estimated G&A costs at $2.00 per barrel; (iv) in the Sale and Purchase Agreement, the Company is to pay $2.5 million towards outstanding debts and this amount is credited as an investment; (v) depreciation, depletion and amortization allowances (average rate of 13.3%) for the assets using of the straight line method of 7.5 years; and (vi) Colombian corporation tax rates of 33% for 2011 onwards.
(3)	The after tax net present value of the properties here reflects the tax burden on the properties on a standalone basis. It does not consider the business -entity level tax situation or tax planning. It does not provide an estimate of the value at the level of the business entity, which may be significantly different. The financial statements and the management's discussion and analysis of the Company should be consulted for information at the level of the business entity.
(4)	Additions may not add up due to rounding.

The October 31, 2011 oil price closed at $84.23 per barrel for the West Texas Intermediate (WTI) crude oil and at $106.09 per barrel for the Brent crude oil (Brent). In the last ten months of 2011, the Vasconia (Colombian export) crude oil price is usually between the WTI and the Brent. All future commodity prices of crude oil were taken from NYMEX on the last day of trading in October 2011. The forecast Vasconia prices are based on the NYMEX's WTI and Brent futures on the average of the monthly settlement prices to 2016 and then escalated at 2% per year thereafter, as set out below:

Time Period Forecast		West Texas Intermediate Light Crude Oil ($/bbl)		Brent Crude Oil 38° API ($/bbl)		Vasconia 25° API Crude Oil ($/bbl)
2011		93.19		107.95		100.57
2012		92.48		106.53		99.51
2013		91.07		102.12		96.60
2014		90.13		97.80		93.96
2015		89.93		94.49		92.21
2016		90.07		92.25		91.16
2017		91.87		94.10		92.98

Prospective Resources

Included in the Report were estimates of unrisked prospective resources attributed to the additional mapped prospects on the Block and net present worth of future net cash flows from such properties before deduction of income tax discounted at 0, 5, 10, 15 and 20%, all with cash flows in U.S. Dollars and based on the forecast prices described above:

		Light and Medium Crude Oil						Heavy Oil						Before Tax Net Present Value(1) (M$)
Estimate		100% (Mbbl)		Gross (Mbbl)		Net (Mbbl)		100% (Mbbl)		Gross (Mbbl)		Net (Mbbl)		0%		5%		10%		15%		20%
Best(1)		335		251		231		2,194		1,646		1,514		37,992		29,013		22,266		17,126		13,157
High(2)		958		719		661		5,552		4,164		3,831		167,251		127,550		99,142		78,309		62,683

Notes:
(1)	The range of certainty attributed to a best estimate is that it is equally likely that the actual remaining quantities recovered will be greater or less than the best estimate. If probabilistic methods are used, there should be at least 50 percent probability that the quantities actually recovered will equal or exceed the best estimate.
(2)	The range of certainty attributed to a high estimate is that it is unlikely that the actual remaining quantities recovered will exceed the high estimate. If probabilistic methods are used, there should be at least a 10 percent probability that the quantities actually recovered will equal or exceed the high estimate.
(3)	The prospective resources in the low estimate of the Blocks are uneconomic and therefore not included.
(4)	Additions may not add up due to rounding.

Such resources are "prospective" resources and are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects. Prospective resources have both an associated chance of discovery and a chance of certainty associated with the recoverable estimates, assuming their discovery and development, and may be sub-classified based on project maturity.

The chance of commerciality of different categories of recoverable resources varies. For prospective resources, it is expected that not all exploration projects will result in discoveries. The chance that an exploration project will result in the discovery of petroleum is referred to as the "chance of discovery". Thus, for an undiscovered accumulation, the chance of commerciality is the product of two risk components - the chance of discovery and the chance of development. There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources.

About Sagres

Sagres Energy Inc. is a Canadian based international oil and gas exploration company with an exploration portfolio in Colombia, Guyana and Jamaica. The common shares of Sagres are listed for trading on the TSX Venture Exchange under the symbol "SGI".

Regulatory Statements

This news release contains forward-looking information relating to the Company's growth and related strategy, reserves and resource estimates, the El Triunfo Acquisition, planned development and exploration activities on the properties in which the Company has interests, and other statements that are not historical facts. Such forward-looking information is subject to important risks, uncertainties and assumptions. The results or events predicated in this forward-looking information may differ materially from actual results or events. As a result, you are cautioned not to place undue reliance on these forward-looking information.

Forward-looking information is based on certain factors and assumptions regarding, among other things, the impact of increasing competition; the general stability of the economic and political environments in which the Company operates or owns interests; the completion of the acquisition of the Block; the timely receipt of any required regulatory approvals; the ability of the Company to obtain qualified staff, equipment and services in a timely and cost efficient manner; drilling results; the ability of the operator of the projects which the Company has an interest in to operate the field in a safe, efficient and effective manner; the ability of the Company to obtain financing on acceptable terms; field production rates and decline rates; the ability to replace and expand oil and natural gas reserves through acquisition, development of exploration; the timing and costs of pipeline, storage and facility construction and expansion and the ability of the Company to secure adequate product transportation; future oil and natural gas prices; currency, exchange and interest rates; the regulatory framework regarding royalties, taxes and environmental matters in the jurisdictions in which the Company operates; and the ability of the Company to successfully market its oil and natural gas products, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Forward looking-information is subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what is currently expected. These factors include risks associated with instability of the economic and political environments in which the Company operates or owns interests, oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, incorrect assessment of the value of acquisitions, failure to realize the anticipated benefits of acquisitions, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, reliance on key personnel, regulatory risks and delays, including risks relating to the acquisition of necessary licenses and permits, environmental risks and insurance risks.

The estimates of reserves and resources in this news release constitute forward-looking information which are subject to certain risks and uncertainties, including those associated with the drilling and completion of future wells, limited available geological data and uncertainties regarding the actual production characteristics of, and recovery efficiencies associated with, the reservoirs, all of which are being assumed. As estimates, there is no guarantee that the estimated reserves or resources will be recovered or produced. Actual reserves and resources may be greater than or less than the estimates provided in this presentation.

You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, the Company is under no obligation and does not undertake to update this information at any particular time, except as required by law.