La Cortez Energy Expands Senior Technical Staff with the Appointment of Luis Eduardo Goyeneche to Production and Operations Manager

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BOGOTA, Colombia, July 25, 2011 /PRNewswire/ -- La Cortez Energy, Inc. (OTC: LCTZ), a company focused on oil and gas exploration and production in South America, is pleased to announce that Mr. Luis E. Goyeneche has joined the Company as our Production and Operations Manager effective July 13th, 2011.

Mr. Goyeneche is an experienced Reservoir Engineer with more than 25 years of oil and gas experience. Most recently, from 2008 to date, Mr. Goyeneche served as both the Operations Manager and Business Development and Procurement Manager for Columbus Energy Sucursal Colombia, a private oil and gas company backed by private equity firm First Reserve and Nabors Industries, the largest land drilling company in the world.

During his time with Columbus Energy, Mr. Goyeneche was responsible for the management of exploration and development activities in two of the company's operated blocks and two non-operated blocks in the Llanos basin. In addition to overseeing the engineering and technical responsibilities associated with these blocks, Mr. Goyeneche also successfully managed relations with governmental entities such as the Agencia Nacional de Hidrocarburos (ANH),Ministry of Mines and Energy, Environmental, and Ecopetrol.

Luis Goyeneche commented on his decision to join La Cortez in this key operational role. "My decision to join La Cortez over a number of other alternatives can be attributed to my sincere conviction that La Cortez will be an important player in the Colombian petroleum industry for years to come, and I feel that I have the ability to make a major contribution towards achieving that goal in the very near future."

Prior to joining Columbus Energy, Mr. Goyeneche was employed by Hocol, S.A. in various posts from 1986 thru 2008. Positions included Senior Reserve Engineer (1997-2001), Palermo Association Manager (2001-2007) and most recently Appraisal Manager, where he was responsible for the evaluation and development of Hocol, S.A.'s new fields. Mr. Goyeneche has a B.Sc. in Petroleum Engineering from the Universidad de America in Bogota.

Andres Gutierrez, President and CEO of La Cortez, commented on the announcement. "I am very pleased to announce the appointment of Luis Goyeneche as our Production and Operations Manager. Mr. Goyeneche will play a pivotal role in the development of La Cortez as a significant player in the South American energy sector as he brings vast experience and knowledge in the energy industry to La Cortez. In prior positions, he was responsible for overseeing a full range of operating and commercial activities associated with blocks having active drilling programs and production of more than 6,000 bopd (barrels of oil per day). With the appointment of Mr. Goyeneche, we have established well-seasoned technical team suited to identify business opportunities and see them through to fruition. Mr. Goyeneche and Mr. Lombo, our Chief Geologist, will be working hand-in-hand to establish synergies and efficient management of our corporate resources."

About La Cortez Energy, Inc.

La Cortez Energy, Inc. is an early stage oil and gas exploration and production company currently pursuing a business strategy in the energy sector in South America, with an initial focus on identifying oil and gas exploration and production opportunities in Colombia. To that end, the company has established a branch, La Cortez Energy Colombia, Inc., with offices in Bogota, Colombia, and has signed a Joint Operating Agreement for a 50% working interest in the Putumayo 4 block and a Joint Venture agreement for a 20% working interest in the Maranta block and has acquired the interests of Avante Colombia in the Rio de Oro and the Puerto Barco fields, all in Colombia.

Forward-Looking Statements:

Certain statements in this news release are forward-looking. These statements are subject to risks and uncertainties. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. There can be no assurance that the Putumayo 4, Maranta and Rio de Oro and Puerto Barco projects will be successfully developed. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company, including, but not limited to, the Company's ability to identify corporate acquisition and/or joint venture opportunities in the energy sector in Colombia, Peru and Brazil and, more generally, in Latin America, and to establish the technical and managerial infrastructure, and to raise the required capital, to take advantage of, and successfully participate in such opportunities, future economic conditions, political stability and energy prices. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission.

SOURCE La Cortez Energy, Inc.