Alange Energy Files Second Quarter 2009 Financial Statements of Alange, Corp. on SEDAR and Announces Change in Year End



    TORONTO, Aug. 31 /CNW/ - Alange Energy Corp. (TSXV: ALE) ("Alange Energy"
or the "Company") announced today the filing on SEDAR (www.sedar.com) of the
unaudited consolidated financial statements of Alange, Corp. for the three and
six month periods ended June 30, 2009 and 2008. Alange, Corp., a private
Panamanian corporation, was acquired by the Company on July 13, 2009 pursuant
to a reverse takeover by way of a three-corned amalgamation.
    Alange Energy also announced today that it has changed its fiscal year
end from June 30th to December 31st effective with the reporting period ending
December 31, 2009. The audited financial statements of Alange Energy, formerly
known as Cierra Pacific Ventures Ltd., for its fiscal year ended June 30, 2009
are expected to be completed and filed on SEDAR on or before October 28, 2009.
The first interim financial statements for the newly amalgamated reporting
issuer, Alange Energy, will be for the three month period ended September 30,
2009 and are expected to be filed on SEDAR on or before November 30, 2009.

    Alange Energy is a Canadian-based oil and gas exploration and production
company, with working interests in five properties in Colombia and a 31%
equity interest in Prospero Hydrocarbons Inc., a private company with working
interests in several additional properties in Colombia.

    
    Neither 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 news release
    

    %SEDAR: 00005776E




For further information:

For further information: Michael Davies, Chief Financial Officer, (416)
360-4653, ext. 224

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ALANGE ENERGY CORP.

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