Mr. Edgardo Russo reports

JAGERCOR REPORTS RESULTS OF THE FIRST WELL IN CATRIEL OESTE PROJECT

Jagercor Energy Corp. has completed the drilling and completion phase of the first of three wells to be drilled at the Catriel Oeste oil concession in Rio Negro province, Argentina, which is the property of Central International Corp. Sucursal Argentina. The wells are being drilled as part of a project agreed to by Jagercor with Central pursuant to the development agreement previously announced on Aug. 7, 2014.

The first well, CIC-RN-CO.2003, was completed on Oct. 8, 2014. Production commenced immediately upon connection, with initial production of 148 barrels of crude oil per day, based on Central's production reports. The successful completion of Jagercor's first well has reached average expected production from the Catriel Oeste project, within the estimated cost of construction.

Operational highlights:

• The first well (CIC-RN-CO.2003) has been drilled to a total measured depth of 939 metres, through the whole thickness of the Quintuco formation;
• Surface production equipment, pipeline, gathering system, storage tank and measurement system have been completed;
• Production rate mentioned above refers to a 24-hour production test, measured in storage tank, with the well averaging the same rate since that time.

Pursuant to the agreement, the second well (CIC-RN-CO.2004) was spudded on Oct. 1, 2014, and reached a total measured depth of 975 metres. The completion phase of the second well started on Oct. 13, 2014. The well was drilled through the Quintuco formation at better-than-expected penetration rates with important oil and gas showings, and is located higher in the geological structure. This information, though auspicious, should still be considered preliminary in nature. The third well to be drilled under the agreement was spudded on Oct. 12, 2014, and is expected to be completed the first week of November, 2014.

Jagercor's technical team has surveyed a number of new drilling locations for the 2015 drilling campaign, given the encouraging results from the first well and production to date.

Edgardo Russo, chief executive officer of Jagercor, stated: "We are pleased with the progress made to date on both the drilling operations and the completion of the production facilities. Reaching this production at this very low cost of well construction makes us very optimistic for what's to come as well as the potential of the future projects. We feel that this marks a very significant stage in the development of our company."

We seek Safe Harbor.