Mr. Jonathan Schroeder of Brownstone reports

BROWNSTONE PROVIDES UPDATE ON COLOMBIAN OPERATIONS

Brownstone Ventures Inc. and joint venture partner Quetzal Energy Ltd. have provided the following update on operations in Colombia.

Canaguaro block, Llanos

Brownstone has been advised by the operator, Quetzal Energy, that an electrical submersible pump (ESP) has been installed in the Canaguay No. 1 well in the Llanos basin, Colombia, and during a short-period mechanical operation test of the ESP, the well produced oil at rates in excess of 3,900 barrels of oil per day. The long-term production test of the Mirador zone is expected to take place in February after necessary surface equipment is installed and required approvals are received. Brownstone has a 25-per-cent working interest in the Canaguaro block.

Block 36, Llanos

The joint venture partners have commenced the acquisition of a 110-square-kilometre 3-D seismic survey on Jan. 8, 2011, over a structure previously defined by 2-D seismic on block 36 in the Llanos basin. The survey is expected to be completed in April. Brownstone has a 20-per-cent paying interest in block 36, which is operated by Montecz SA, and is earning a 14-per-cent working interest.

Block 21, Llanos

The joint venture partners are preparing to conduct a 94-square-kilometre 3-D seismic survey on block 21 in the Llanos basin, with fieldwork expected to begin in February. Brownstone has a 50-per-cent paying interest in block 21 and is earning a 35-per-cent working interest.

Block 27, Llanos

Brownstone and its partners have completed the 220-square-kilometre 3-D seismic survey on block 27 in the Llanos basin. Brownstone has a 50-per-cent paying interest before payout and a 34.25-per-cent working interest after payout. Images from the survey, along with an updated corporate presentation, can be found at Brownstone's website.

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