TORONTO, April 18 /PRNewswire-FirstCall/ – Alange Energy Corp. (TSXV: ALE) is pleased to
announce the closing of its previously announced acquisition of
additional interest in the Cubiro block pursuant to a share purchase
agreement entered into with Columbus Energy Inc. whereby the Company
has acquired:

• an additional 32.14% participating interest in Block C of the Cubiro
  Exploration and Production Contract (“E&PC”) located in the Llanos
  Basin. The Copa wells in the eastern Block C of Cubiro, where the
  Company already holds a 25% participating interest, are currently
  producing approximately 1,800 barrels of oil per day, before deduction
  of royalties, and this acquisition would increase the Company’s share
  of gross production by almost 600 barrels per day. Based on the
  evaluation of the interests of the Company in the Cubiro Block prepared
  by Petrotech Engineering Ltd. as of June 30, 2010, this acquisition is
  expected to increase Alange Energy’s share of total gross proven,
  probable and possible oil reserves by 2.0 million barrels.
• a 10% participating interest over the entire block and a 15%
  participating interest in the Yamu 1 and Mapuro/Picure 1 exploration
  prospects on the Yamu E&PC, located in the Llanos Basin. Current gross
  production from the Yamu Block is approximately 900 barrels of oil per
  day and the Company’s share would amount to approximately 90 barrels
  per day.
• overriding royalties of 4% and 3% in the A and B Sectors, respectively,
  of the Arrendajo E&PC, in which the Company holds a 35% working
  interest.

The acquisition of the interests has been effected through the
acquisition by the Company of all of the issued and outstanding shares
of Columbus’ wholly-owned subsidiary, Jaguar E&P CPR Consultants, S.A.,
for a purchase price of US$ 25 million.  The purchase price was funded
by the Company’s existing cash balances. These funds will be
replenished upon the closing of the previously announced senior secured
notes and warrants financing (the “Offering”) of the Company with gross
proceeds of approximately CA$ 27 million. The Offering is expected to
close on or around April 26, 2011.

About Alange Energy Corp.

Alange Energy is a Canadian-based oil and gas exploration and production
company, with working interests in 12 properties in four basins in
Colombia. Further information can be obtained by visiting our website
at www.alangeenergy.com.

All monetary amounts in U.S. dollars unless otherwise stated. The term
“gross” in reference to production and reserves represents amounts
before the deduction of royalties. This news release contains certain
“forward-looking statements” and “forward-looking information” under
applicable Canadian securities laws concerning the business, operations
and financial performance and condition of Alange Energy Corp. (“Alange
Energy”). Forward-looking statements and forward-looking information
include, but are not limited to, statements with respect to estimated
production and reserve life of the various oil and gas projects of
Alange Energy; the estimation of oil and gas reserves; the realization
of oil and gas reserve estimates; the timing and amount of estimated
future production; costs of production; success of exploration
activities; and currency exchange rate fluctuations. Except for
statements of historical fact relating to the company, certain
information contained herein constitutes forward-looking statements.
Forward-looking statements are frequently characterized by words such
as “plan,” “expect,” “project,” “intend,” “believe,” “anticipate”,
“estimate” and other similar words, or statements that certain events
or conditions “may” or “will” occur. Forward-looking statements are
based on the opinions and estimates of management at the date the
statements are made, and are based on a number of assumptions and
subject to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from those
projected in the forward-looking statements. Many of these assumptions
are based on factors and events that are not within the control of
Alange Energy and there is no assurance they will prove to be correct.
Factors that could cause actual results to vary materially from results
anticipated by such forward-looking statements include changes in
market conditions, risks relating to international operations,
fluctuating oil and gas prices and currency exchange rates, changes in
project parameters, the possibility of project cost overruns or
unanticipated costs and expenses, labour disputes and other risks of
the oil and gas industry, failure of plant, equipment or processes to
operate as anticipated. Although Alange Energy has attempted to
identify important factors that could cause actual actions, events or
results to differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events or
results not to be anticipated, estimated or intended. There can be no
assurance that forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Alange Energy undertakes no obligation
to update forward-looking statements if circumstances or management’s
estimates or opinions should change except as required by applicable
securities laws. The reader is cautioned not to place undue reliance on
forward-looking statements.

Statements concerning oil and gas reserve estimates may also be deemed
to constitute forward-looking statements to the extent they involve
estimates of the oil and gas that will be encountered if the property
is developed. Boe may be misleading, particularly if used in isolation.
A boe conversion ratio of 6 mcf:1 bbl is based on an energy equivalency
conversion method primarily applicable at the burner tip and does not
represent a value equivalency at the wellhead. Estimated values of
future net revenue disclosed do not represent fair market value.

Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this news
release.

SOURCE Alange Energy Corp.