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Altenesol LNG Colombia S.A.S and Canacol Energy LTD Execute the Contract to Supply Natural Gas for Nataly 1



Altenesol LNG Colombia S.A.S and Canacol Energy LTD Execute the Contract to
Supply Natural Gas for Nataly 1

ORLANDO, Fla., Feb. 13, 2013 (GLOBE NEWSWIRE) -- IAHL Corporation (Other
OTC:IAHL) is pleased to announce that further negotiations of a previously
announced letter of intent on October 10, 2012, between its wholly-owned
 subsidiary, Altenesol Colombia S.A.S. ("Altenesol"), and Geoproduction Oil
and Gas Company of Colombia ("Geoproduction"), a wholly-owned subsidiary of
Canacol Energy LTD (Canacol), (TSX:CNE) (BVC:CNEC) has resulted in a signed 15
year natural gas supply contract for the Nataly 1 LNG project in Colombia. The
contract is for the supply of 17 million cubic feet per day (MMCFD) of natural
gas at a price of US$4.90 per MCF agreed to by both parties with an annual
price escalation of 2% commencing in the second year of production under the
contract.

The contract is subject to the fulfillment of a number of conditions
precedents, which are in process, by both Altenesol and Geoproduction.  The
principal ones are converting existing customer LOIs to take or pay
contracts, finalizing project funding, having the Nataly 1 LNG plant
operational within the guidelines of the agreement as well as Geoproduction's
planned drilling activities on the basis of the 3D seismic results and the
certification of additional reserves at the La Esperanza block.  

"We are excited about working with Canacol in this history making contract
which will be the longest gas contract in Colombia.  This is a major milestone
for our project which is the first of several more to come over the next
quarter.  We were able to leverage the deep experience of our Board Member,
Stuart Jara, in negotiating complex long term supply contracts to ensure we
secured a beneficial and bankable agreement," said Nelson De La Nuez, CEO of
IAHL.

"As a member of the board, it was my pleasure to take the lead in the
negotiations of the contract, working with the Altenesol team to draft and
finalize the deal. This agreement is an important milestone in the delivery
and establishment of the vision created by the CEO and the Board," said Stuart
Jara, IAHL Board of Director.

Altenesol Colombia SAS's project will generate over US$70 million in average
annual revenues through its subsidiaries (Altenesol LNG Colombia, SAS;
TransCryogen LNG Colombia, SAS and Altenesol Regasification Systems, SAS)
which will produce LNG at the Nataly 1 plant, transport the LNG to our
customers and re-gasify the LNG at each customer's location.  Over the 15 year
term of the project, the natural gas purchased from this contract with Canacol
will generate in excess of US$1 billion.   "Future plans include four
additional LNG Plants in Colombia within the next 7 years after the completed
construction of Nataly 1," advised Nelson De La Nuez, CEO of IAHL.

IAHL is also pleased to announce that Altenesol has signed a contract to
purchase 91 acres (37 hectares) of land adjacent to the Canacol well site
(Jobo Station). The proximity to the source minimizes logistical costs and
provides room for the expansion of the Nataly 1 LNG plant as well as extra
space for vehicle transit, storage and maintenance. This also helps build
Altenesol's plans to become a major player in the energy sector, bringing less
expensive and cleaner fuel to areas in and out of Colombia.

This press release does not constitute an offer of any securities for
sale. This press release contains certain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934. Certain information included in this
press release constitutes forward-looking information under applicable
securities legislation. 

Such forward-looking information is provided for the purpose of providing
information about management's current expectations and plans relating to the
future. Readers are cautioned that reliance on such information may not be
appropriate for other purposes, such as making investment decisions. 
Forward-looking information is based on a number of factors and assumptions
which have been used to develop such information but which may prove to be
incorrect.  Although IAHL believes that the expectations reflected in such
forward-looking information is reasonable, undue reliance should not be placed
on forward-looking information because IAHL can give no assurance that such
expectations will prove to be correct.

In addition to other factors and assumptions which may be identified in this
press release, assumptions have been made regarding and are implicit in, among
other things: the ability of IAHL to complete transactions described in this
press release, the timely receipt of any required regulatory approvals,
anticipated expenses, cash flow and capital expenditures, and economic
conditions. 

Readers are cautioned that the foregoing list is not exhaustive of all factors
and assumptions which have been used. IAHL undertakes no obligation to update
forward-looking statements if circumstances or management's estimates or
opinions should change, unless required by law. Actual results could differ
materially from those currently anticipated due to a number of factors and
risks.

These include, but are not limited to, risks associated with the oil and gas
industry in general (e.g., operational risks in development and production;
delays or changes in plans with respect to  development projects or capital
expenditures; the uncertainty of estimates and projections relating to
production, costs and expenses, and health, safety and environmental risks),
commodity price and exchange rate fluctuations and uncertainties resulting
from potential delays or changes in plans with respect to the development of
the project or capital expenditures.
 

CONTACT: Info@altenesol.com
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