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Sagres Appoints Chief Financial Officer

CALGARY, ALBERTA -- (Marketwire) -- 11/29/12 -- Sagres Energy Inc. (TSX VENTURE:SGI) welcomes Mr. Sam Yik as chief financial officer of the company. The appointment of Mr. Yik follows the resignation of Ms. Deborah Battiston as interim chief financial officer of the company. The company would like to thank Ms. Battiston for her service.

Mr. Yik is a chartered accountant with over 20 years of diversified business experience in areas of accounting, finance, corporate development, marketing, and logistics, with focus primarily in the resource sector. Mr. Yik graduated from the University of British Columbia and is a member of the Institute of Chartered Accountants of British Columbia. Mr. Yik obtained his CA designation while articling with the Vancouver office of KPMG and is also a member of the CICA's (Canadian Institute of Chartered Accountant) Small Business Advisory Group.

Mr. Yik has been directly involved in the resource industry for a number of years and has held senior financial, commercial, and operational positions with exploration and commercial production stage companies publically listed in Canada and the United States. Mr. Yik also spent 11 years with a large public petro-chemical company, where his roles served increasing responsibilities in reporting, marketing, logistics, and commercial management in an international setting.

About Sagres

Sagres Energy Inc. is a Canadian based international oil and gas exploration company with exploration assets in Colombia. The common shares of Sagres are listed for trading on the TSX Venture Exchange under the symbol "SGI".

Regulatory Statements

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the appointment or resignation of officers of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of exploration activities; regulatory risks; risks inherent in foreign operations; and other risks of the oil and gas industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

NEITHER THE 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 RELEASE.

Contacts:
Sagres Energy Inc.
Jaime Lalinde
Chief Executive Officer
(+571) 805-0240

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