Canacol Energy Ltd (Alberta) T.CNE

Alternate Symbol(s): CNNEF

Energy Oil & Gas E&P

Canacol Energy Ltd. is a Canada-based natural gas exploration and production company with operations focused on Colombia. The Company’s production primarily consists of natural gas from the Esperanza, VIM-5, VIM-21 and VIM-33 blocks located in the Lower Magdalena Valley basin in Colombia. Its production also included crude oil from its Rancho Hermoso block in Colombia (Colombia oil). It supplies approximately 17% of the country’s gas needs and more than 50% of the Caribbean Coast’s gas demand. Its gas fields which produce from the Cienaga de Oro and Porquero proven reservoirs are connected to its central Jobo gas processing and treatment facility through more than 169 kilometers of flow lines, mainly flexible steel flow lines. The Company operates over 1.5 million net acres in 11 exploration and production gas contracts in Colombia, located in the Lower & Middle Magdalena Basins. Its natural gas processing and treatment facilities consist of three plants.

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Canacol Energy Ltd (Alberta)

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Post by I1thedave2oo6on Sep 24, 2015 1:32pm

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Post# 24132313

Canacol Clarinete 2 hits Massive Gas 127 Feet Clarinete Big

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Charle Gamba, President and CEO of the Corporation, stated: "Despite fiscal 2015 having proven to be a challenging year from a world oil price perspective, the Corporation managed to increase proved plus probable reserves and deemed volumes, grow production, refinance its debt facility to defer repayment until calendar yea\ I'm also pleased to report that the Clarinete-2 ST appraisal well has encountered 127 feet of net gas pay within the main Cienaga de Oro reservoir target, confirming a significant gas discovery at Clarinete.

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