Azabache Energy Inc. announced that the Operator of the Antares Block (in which the company has a 50% working interest) is completing the civil construction at the drilling location for the Lemaya well on the Antares Block, Colombia. This well will be drilled pursuant to the amended Farm out Agreement. The well will reach a total depth of 3,100 ft and is targeting light oil from the Caballos Formation. The drilling rig is expected to move onto the drilling location in the next few days with an anticipated spud date by August 14, 2012. Azabache continues to study cores of the recently drilled exploration well (CVOx-2) on the Covunco Norte Sur Block in Argentina. The company expects to perform a stimulation job on this well before the end of the year.