In my earlier post , copied the News Release on this contract to supply gas
to Altenesol at $4.90 US per unit.
The approx. schedule for them to build the unit is approx 12 months. Depending on sales
contracts and construction this could be delayed speculatively to say 16 months.
The unit will cost approximately $60 million which is entirely Altenesol,s cost ..

Our job is only to supply the gas , and it is highly probable in 12 to 16 months time
that Canacol will forward the $13 million to participate in receiving the higher price
above $6 as per the NR.

At this time the main focus is to transfer this entity into a company where the cash flow is
mostly coming from gas . about 14,500 boepd at netbacks of about $25.90 US.

Last we heard very recently they are still on schedule to add the the first 19mmcf/day at end of december or early jan and the balance about mid february to get the total gas pay
up to 81 mmcf/day. So the ramping starts in January and continues in 2 more increments to arrive at the total supplied to the new line.(s). We have the wells to supply the gas and are waiting .

OBOE 1 is set to spud approx. Jan 16th.. and should take approx , 5 to 6 weeks to complete.which is an exploration well . If successful could add another $144 million in
net asset value. (speculatively )