Colombia Energy Resources, Inc. Appoints Peter Lilly as Chairman of the Audit Committee and Member of the Compensation Committee and Nominating and Corporate Governance Committee

Colombia Energy Resources, Inc. announced that the 2012 annual meeting of shareholders held on May 8, 2012. At the meeting of the Board of Directors immediately following the Annual Meeting, Peter Lilly was appointed as chairman of the Audit Committee to replace Mr. Wolff who is no longer a director of the Company. Mr. Lilly has also been appointed as a member of the Compensation Committee and the Nominating and Corporate Governance Committee.