La Cortez Energy, Inc. announced that Emerald Energy plc (Emerald), the operator of the Maranta Block where La Cortez holds a 20% working interest, has commenced drilling operations for the Agapanto-1 exploratory well. Agapanto-1 is the third exploration well to be drilled on the Maranta Block, and is expected to fulfill the first phase of the two-phase exploration program. The Agapanto-1 well spudded on August 9, 2012, and is expected to reach a total depth of 11,500 ft. The well is being vertically drilled in order to evaluate the Villeta N, U and T sands. The Agapanto well is an exploratory well being drilled adjacent to the existing producing Mirto structure, and will be targeting the potential of the currently producing N sand (16 API), and further evaluating the potential of the U and T sands that were not properly tested in the previous wells (Mirto-1 and Mirto-2) due to both mechanical and isolation difficulties. The Maranta block is located in the foreland of the Putumayo Basin in southwest Colombia. Emerald originally signed the E&P contract with the Agencia Nacional de Hidrocarburos (ANH) on September 12, 2006. The company's original interest in the Maranta block covered an area of 90,459 acres (36,608 hectares), which was reduced to 45,230 acres after contractual relinquishment of a portion of the exploration area on August 24, 2010, a procedure that is currently being processed within ANH protocols. Final assignment of the 20% participation interest in this block is subject to final approval of the ANH.

La Cortez Energy, Inc.’s common stock will be deleted from OTC Bulletin Board (OTCBB) effective July 3, 2012, on account of its filing of form 15 to terminate registration under the 34 Act. The company will be added to NBB.

La Cortez Energy, Inc. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its common stock under the Securities Exchange Act of 1934, as amended. The par value of the company's common stock was $0.001 per share.