Serrano Energy Ltd. Announces December 31, 2006 Reserves Evaluation

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Serrano Energy Ltd. ("Serrano") announces pursuant to National Instrument 51-101 that is has filed a summary of its independent reserve report as at December 31, 2006 on SEDAR.

Serrano has also filed its financial information and MD&A for the partial year ended December 31, 2006, all of which is available on SEDAR at www.sedar.com.

Serrano Energy Ltd. is an Alberta-based company formed to participate in heavy oil and natural gas exploration, development and acquisitions in Alberta and Saskatchewan. The Company's shares are not currently listed for trading on any stock exchange. The Company currently has 15,160,353 common shares outstanding.

FORWARD-LOOKING STATEMENTS Certain information set forth in this document, including management's assessment of Serrano's future plans and operations, contain forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond these parties' control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Serrano's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Serrano will derive therefrom. Serrano disclaims any intention or obligation to update or review any forward-looking statements, whether as a result of new information, future events or otherwise.

Note: Boe means barrel of oil equivalent on the basis of 1 boe to 6,000 cubic feet of natural gas. Boe's may be misleading, particularly if used in isolation. A boe conversion ratio of 1 boe for 6,000 cubic feet of natural gas is based on an energy equivalency conversion primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

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