Announcement • Mar 30
Canacol Energy Ltd. Announces Resignation of Peter Laurinaitis as Independent Director Canacol Energy Ltd. announced that, on March 26, 2026, the Court of King’s Bench of Alberta granted an order in the Company’s ongoing restructuring proceedings under the Companies’ Creditors Arrangement Act (Canada) approving the engagement of Breakpoint Advisory Partners LLC as Chief Restructuring Officer of the Company. Breakpoint will oversee and direct at the management level all Company strategic, transactional, and operational matters in connection with the Company’s restructuring. Breakpoint will provide direct input and advice to the Board of Directors of Canacol. These services will be provided through Breakpoint personnel including Mr. Peter Laurinaitis, Mr. Jeffrey Stein and Mr. Joe Turner. Mr. Laurinaitis was an independent director of Canacol. Mr. Laurinaitis disclosed his interest in Breakpoint and abstained from voting on Breakpoint's appointment as Chief Restructuring Officer. Following the Chief Restructuring Officer appointment, Mr. Laurinaitis has resigned as an independent director from the Board. Breakpoint and Mr. Laurinaitis will continue to attend Board and special committee meetings to assist and support the Board during the Company’s restructuring efforts. Peter Laurinaitis is an experienced financial advisor and investment banker with 30 years of transactional experience in financial restructuring, capital raising, mergers & acquisitions, special situations, and corporate turnarounds. Mr. Laurinaitis currently serves as a Managing Partner of Breakpoint Partners LLC, a restructuring and special situations advisory firm. Previously and over the last 24 years, Mr. Laurinaitis served as a Partner in both the Restructuring and Special Situations Group of PJT Partners and the Restructuring Group at Blackstone. Mr. Laurinaitis also served as a CPA and turnaround consultant in the Corporate Restructuring Group of Arthur Andersen. Announcement • Nov 28
Canacol Energy Ltd. Announces Results of Degolyer and Macnaughton Audit of Proved Gas Reserves Canacol Energy Ltd. announced that DeGolyer and MacNaughton has performed an audit of the extent and value of the estimated proved developed producing, proved developed, and total proved gas reserves of certain properties located in the Esperanza, VIM-5, and VIM-21 Blocks in Colombia in which Canacol holds an interest. Canacol has represented that the estimated reserves attributable to the reviewed properties were prepared by BGEC in accordance with the definitions of Canadian National Instrument 51-101. Announcement • Aug 08
Canacol Energy Ltd Announces Resignation of William Satterfield as Senior Vice President of Exploration, Effective August 7, 2025 Canacol Energy Ltd. announced that Mr. William Satterfield, Senior Vice President of Exploration, tendered his resignation effective August 7, 2025. Announcement • Aug 01
Canacol Energy Ltd to Report Q2, 2025 Results on Aug 07, 2025 Canacol Energy Ltd announced that they will report Q2, 2025 results After-Market on Aug 07, 2025 Announcement • Jul 14
Canacol Energy Ltd. Provides Exploration Drilling Update Canacol Energy Ltd. provided the following update concerning its current drilling activities and results. Natilla-2 ST3 reached a total depth of 15,616 feet true vertical depth ("ft TVD") near the base of the Porquero Formation ("Porquero"), the planned intermediate casing point of the well situated just above the underlying Cienega de Oro ("CDO") sandstone primary target. The well encountered the same over pressured gas charged sandstones that were present in Natilla ST 1 and 2. After drilling to the intermediate casing depth of 15,750 feet measured depth ("ft MD") without issues, a hole cleaning trip was conducted prior to running casing. During the hole cleaning trip, increased well bore instability and pressures were encountered that ultimately resulted in temporarily abandoning the well. The rig has been released as a forward plan is being prepared to evaluate options for re-entering the current well or drilling a new Natilla-3 well targeting the gas charged sandstones encountered in the various sidetracks of the Natilla-2 well. The new drilling plan will incorporate drilling techniques to address the difficulty in running production liner across the over pressured gas charged sands encountered in the Porquero, and once addressed, continuing to deepen the well to the primary CDO sandstone reservoir target. Borbon-1 exploration well was spud on June 13, 2025, and reached a total depth of 10,751 ft MD on June 22, 2025. The well encountered 157 ft TVD of gas pay with an average porosity of 18 % within the primary CDO sandstone reservoirs target. Zamia-1 exploration well was Spud on May 24, 2025, and reached a Total depth of 11,454 ft MD on June 4, 2025. The well encountered 32 ft TVD of gas pay With an average porosity of 22% within the primary CDO sand stone reservoir target. The well was cased and completed and will be brought on production in early August 2025 once the flowline connecting the Sucre Norte platform has been tied into the Jobo gas processing facility. Initial production from the well is anticipated to be 8 to 10 MMscfpd based on the performance of offsetting CDO producing wells. Palomino-1 exploration well is expected to spud within the next week and is targeting gas charged sands of the CDO reservoir in a prospect located approximately 2 kilometers to the south of the Borbon discovery. The Corporation anticipates that the well will take approximately 3 weeks to drill and complete. If successful, the well will be brought onto production via the flowline connecting the SucRE Norte platform to the Jobo gas processing facility; The Fresa-4 well was spud on June 30, 2025, and is targeting gas charged sandstones within the CDO reservoirs located approximately 1 kilometer up dip and to the northwest of the recently drilled Fresa 3 appraisal well, which is producing approximately 10 MMscfpd. The Corporation anticipates that The Corporation anticipates that the Well will take approximately 3 weeks to drilling, after which it will be brought onto production immediately via the existing connection between the platform and the Jobo gas processing facility.; Fresa-4 Appraisal Well (VIM-21 Exploration and Exploitation Contract, 100% Working Interest); The Fresa-4 well were spud on June 30, 2020, and is targeting gas charged sands within the CDO reservoirs locatedapproximately 1 kilometer up dip and To the northwest of the recently drilledFresa 3 appraisal well, which are producing approximately 10 MMscfPD. The Corporation anticipates that, after which it will be bringing onto production immediately via the existing connections between the platform and the jobo gas processing facility. Announcement • Apr 29
Canacol Energy Ltd to Report Q1, 2025 Results on May 08, 2025 Canacol Energy Ltd announced that they will report Q1, 2025 results After-Market on May 08, 2025 Announcement • Apr 21
Canacol Energy Ltd, Annual General Meeting, Jun 23, 2025 Canacol Energy Ltd, Annual General Meeting, Jun 23, 2025. Location: bogota Colombia Announcement • Mar 05
Canacol Energy Ltd to Report Q4, 2024 Results on Mar 20, 2025 Canacol Energy Ltd announced that they will report Q4, 2024 results After-Market on Mar 20, 2025 Announcement • Feb 24
Canacol Energy Ltd Provides Gas Sales Guidance for the Year 2025 Canacol Energy Ltd. provided gas sales guidance for the year 2025. For the period, the company expects total gas sales volume to be in range of 146 MMcfpd to 159 MMcfpd. Announcement • Jan 28
Canacol Energy Ltd Provides Drill Update Canacol Energy Ltd. provided drill update: Natilla-2 ST1 Exploration Well (SSJN-7 Exploration and Production contract 100% Working Interest): Natilla-2 ST1 reached a total depth of 15,050 feet true vertical depth ("ft TVD") near the base of the Porquero Formation, the planned intermediate casing point of the well situated just above the underlying Cienaga de Oro ("CDO") sandstone primary target. Drilling through the Porquero took longer than anticipated due to high pressures and wellbore issues. The well encountered an approximately 550 ft TVD gross section of interbedded sandstone and shales within the Porquero with good reservoir quality as indicated by sonic and resistivity logs collected while drilling. Formation pressures across this section of the Porquero ranged from 12,500 13,500 psi based on the PWD (Pressure While Drilling) tool, indicating gas at very high pressure, and very high mud weights of up to 18.8 pounds per gallon while drilling were required to prevent the influx of gas into the wellbore. Despite the heavy mud weights used while drilling through this section of the Porquero, total measured gas confirmed that the sandstones are gas charged. Casing is currently being run to isolate the Porquero prior to continuing to drill to the primary Cienaga de Oro target to a total planned depth of 16,510 ft TVD. Upon completion of drilling, open hole and cased hole logs will be run across both the CDO and Porquero respectively, and production tests will subsequently be conducted across any potential gas producing intervals. Lulo-3 Appraisal Well (Esperanza Exploration and Exploitation Contract, 100% Working Interest) The Lulo-3 appraisal well was spud on January 19, 2025, and reached a total depth of 8,209 ft MD on January 24, 2025. The well encountered 101 ft TVD of gas pay within the primary CDO sandstone reservoir target. The well is currently being cased and completed and will be placed on production the first week of February 2025. Clarinete 11 Development Well (VIM5 Exploration and Production Contract 100% Working Interest) The Clarinete 11 development well was spud on December 21 2025 and reached a total depth of 8,695 ft MD on January 1, 2025. The well encountered approximately 205 ft TVD of net gas pay within the CDO sandstone reservoir and was placed on production at approximately 6 MMscfpd., Siku-2 Appraisal Well (VIM-5 Exploration and Production Contract 100% Working Interest) The Siku-2 appraisal well was spud on January 26, 2025, and is targeting an extension of the Siku gas field discovered by the Corporation in 2020. The well is targeting gas charged CDO reservoir sandstones within a part of the field located approximately 500 meters to the southeast of the Siku-1 discovery well. The Corporation anticipates that the well will be drilled, completed and tied in within 3 weeks. Pibe-2 Appraisal Well (VIM-21 Exploration and Exploitation Contract 100% Working Interest) The Pibe-2 appraisal well was spud on December 19, 2024, and reached a total depth of 9,392 ft TVD. Non commercial gas was encountered within the CDO reservoir and the well was subsequently abandoned. Announcement • Dec 20
Canacol Energy Ltd. Provides Drilling Update Canacol Energy Ltd. provided the following update concerning its ongoing exploration and development drilling programs. Pibe-1 Exploration Well (VIM-21 Exploration and Exploitation Contract 100% Operated Interest): The Pibe-1 exploration well was spud on November 23, 2024, and reached a total depth of 11,000 feet measured depth (“ft MD”). The well is located approximately 4 kilometers to the north of the recent Chontaduro-1 discovery. The well encountered 1,044 feet true vertical depth (“ft TVD”) of gross gas column within the Cienaga de Oro (“CDO”) sandstone reservoir. The CDO was perforated across one zone located between and 7,424 ft and 7433 ft TVD and was flow tested at 3.8 million standard cubic feet per day (“MMscfpd”) for 3.7 hours with an average tubing head pressure (“THP”) of 2701 psi, and subsequently 5.1 MMscfpd for 41.5 hours with an average THP of 2628 psi. The well was placed on permanent production on December 13, 2024, and is currently flowing at a rate of 5.5 MMscfpd. Natilla-2 Exploration Well (SSJN-7 Exploration and Production Contract 100% Operated Interest): The Natilla-2 exploration well was spud on November 2, 2024, and is targeting a large natural gas prospect with primary and secondary targets within the CDO and overlying Middle Porquero Formations respectively. The well has reached a depth of 13,631 ft MD within the mid Porquero Formation, where drilling difficulties were encountered. The current operation is tripping out of the hole to change the configuration of the bottom hole assembly and then resume drilling to the main targets within the next week. Go Forward Drilling Program for Remainder of 2024: The Corporation has spud the Pibe-2 appraisal well located on the VIM-21 Exploration and Exploitation Contract (100% operated working interest) from the existing Pibe-1 drilling platform. The Corporation anticipates results within the next 3 weeks. The Corporation anticipates spudding the Clarinete-11 development well located on the VIM-5 Exploration and Production Contract (100% Operated Working Interest) within the next 2 days. The well is targeting gas bearing sandstones of the CDO reservoir with results expected prior to year end. Announcement • Dec 02
Canacol Energy Ltd. Provides Drilling Update Canacol Energy Ltd. provided the following update concerning its ongoing exploration and development drilling programs. Kite-1 Exploration Well (Esperanza Exploration and Exploitation Contract 100% Operated Interest) The Kite-1 exploration well was spud on November 7, 2024 and reached a total depth of 9,316 feet measured depth . The well is located midway between the producing Palmer and Pomelo gas fields. The well encountered 102 feet true vertical depth of gross gas column within the CDO. The CDO was perforated across three zones located between 6,517 and 6,619 ft TVD and was flow tested for 24 hours with 6 million standard cubic feet per day for 12 hours with an average tubing head pressure of 2247 psi, 8 MMscfpd for 6 hours with an average THP of 2200 psi and finally 10 MMscfpd for another 6 hours with an average THP of 2166 psi. The well was then shut in for 24 hours for a build up and placed on permanent production on November 26, 2024 and is currently flowing at a rate of 10.5 MMscfpd. Nispero-2 Appraisal Well (Esperanza Exploration and Exploitation Contract 100% Operated Interest) The Nispero-2 well was spud on October 4, 2024 and reached a total depth of 10,915 ft MD. The well encountered a gross gas column of 625 ft TVD within the CDO reservoir. The CDO was perforated across two zones located between 7,925 and 8,001 ft TVD and was put on production on November 13, 2024. The well is currently flowing at a rate of approximately 9.5 MMscfpd. Natilla-2 Exploration Well (SSJN 7 Exploration and Production Contract 100% Operated Interest) The Natilla-2 exploration well was spud on November 2, 2024 and is targeting a large natural gas prospect with primary and secondary targets within the CDO and overlying Middle Porquero Formations respectively. The well is currently drilling at a depth of 10,405 ft MD within the Upper Porquero Formation. The Corporation anticipates that the well will take approximately 3 more weeks to drill to total depth of approximately 16,600 ft MD. Pibe-1 Exploration Well (VIM 21 Exploration and Production Contract 100% Operated Interest) The Corporation is currently drilling the Pibe-1 exploration well, which spud on November 23, 2024, and is located approximately 4 kilometers to the north of the recent Chontaduro-1 discovery on the VIM 21 E&P contract. The well is targeting potential gas bearing sandstones within the CDO reservoir and is currently drilling ahead to a programed total depth of approximately 11,000 ft MD. Announcement • Oct 24
Canacol Energy Ltd to Report Q3, 2024 Results on Nov 07, 2024 Canacol Energy Ltd announced that they will report Q3, 2024 results After-Market on Nov 07, 2024 Announcement • Jul 31
Canacol Energy Ltd to Report Q2, 2024 Results on Aug 08, 2024 Canacol Energy Ltd announced that they will report Q2, 2024 results After-Market on Aug 08, 2024 Announcement • Jun 28
Canacol Energy Ltd Appoints Silvestre Tovar Leopardi to the Board of Directors Canacol Energy Ltd. at its annual general meeting held on June 27, 2024, approved the appointment of Silvestre Tovar Leopardi to the Board of Directors. Announcement • Apr 28
Canacol Energy Ltd to Report Q1, 2024 Results on May 09, 2024 Canacol Energy Ltd announced that they will report Q1, 2024 results After-Market on May 09, 2024 Announcement • Apr 20
Canacol Energy Ltd, Annual General Meeting, Jun 27, 2024 Canacol Energy Ltd, Annual General Meeting, Jun 27, 2024. Announcement • Apr 19
Canacol Energy Ltd. Announces New Gas Discovery At Chontaduro 1 Canacol Energy Ltd. provided the information concerning the new Chontaduro 1 gas discovery. Chontaduro 1 encounters 123 feet of net gas pay The Chontaduro 1 exploration well, located on the 100% operated VIM21 Exploration and Production ("E&P") contract, was spud on April 2, 2024, and reached a total depth of 9,625 feet measured depth ("ft MD") on April 8, 2024. The well encountered 123 feet true vertical depth of net gas pay with average porosity of 21% within the primary Cienaga de Oro ("CDO") sandstone reservoir. The CDO reservoir was perforated over a 279 ft MD Interval and the well tied into the Jobo gas treatment facility. The well started at a production rate of 5 million standard cubic feet per day ("MMscfpd") for 2 hours at a choke 29/128" and a THP of 2290 psi. The rate was increased to 8 MMscfpd for another 2 hours with the choke at 30/128. The rate was increased increments of 1 MMscfpd over a period of 5 hours and the choke until it reached 12 MMscfpd. The choke at the final rate was 36/128" and a THP of 2260 psi. The well continues to produce at a rate of 12 MMscfpd over the past 29 hours with a stabilized THP of 2260 psi. The Corporation is currently skidding the rig to drill the Chontaduro 2 appraisal well, targeting the CDO sandstone reservoir in the southern part of the Chontaduro discovery. Chontaduro 2 will spud on April 18, 2024, and will take approximately 3 weeks to drill and complete. Announcement • Mar 28
Canacol Energy Ltd. Announces New Gas Discovery at Pomelo 1 Canacol Energy Ltd. provided the following information concerning the new Pomelo 1 gas discovery. The Pomelo 1 exploration well, located on the 100% operated VIM-21 Exploration and Production ("E&P") contract, was spud on February 19, 2024 and reached a total depth of 12,276 feet measured depth on March 3, 2024. The well encountered 96 feet true vertical depth of net gas pay with average porosity of 21% within the primary Cienaga de Oro ("CDO") sandstone reservoir. The CDO reservoir was perforated over a 48-foot Interval and was tied into the existing flowline to the Betania station. The well is producing with a downhole gauge into the Jobo gas treatment facility. The well started at a production rate of 4 million standard cubic feet per day ("MMscpd") for 6 hours at a choke 21/128". The rate was subsequently increased to 6 MMscfd and 8 MMscfpd for 6 hours and 24 hours respectively. The well was tested at a rate of up to 10 MMscfpd at choke of 30/128", and is now producing into the Jobo gas treatment plant at a controlled rate of 8 MMscpd. The Corporation is currently mobilizing the rig to drill the Chontaduro 1 exploration well located approximately 3 kilometers to the north of Pomelo discovery. The Chontaduro 1 well is targeting the CDO sandstone reservoir, with a secondary uphole target within the Porquero sandstone reservoir, both of which are productive in the area. Chontaduro 1 will spud prior to the first week of April 2024, and will take approximately 3 weeks to drill and complete. Announcement • Mar 13
Canacol Energy Ltd to Report Q4, 2023 Results on Mar 21, 2024 Canacol Energy Ltd announced that they will report Q4, 2023 results After-Market on Mar 21, 2024 Announcement • Feb 05
Canacol Energy Ltd Provides Production Guidance for the Year 2024 Canacol Energy Ltd. provided production guidance for the year 2024. For the year, the company expected natural gas sales volume to be between 160 MMscfpd to 177 MMscfpd. Announcement • Jan 09
Canacol Energy Ltd. Provides Drilling Update Canacol Energy Ltd. provides following drilling update. Near Term Drilling Program: The Corporation anticipates spudding the Clarinete 10 development well by the third week of January 2024, and anticipates that it will take approximately 3 weeks to drill and tie into permanent production. Announcement • Nov 08
Canacol Energy Ltd. Provides Gas Sales and Drilling Update Canacol Energy Ltd. provided the following gas sales and drilling operations update. October Gas Sales of 170 MMscfpd Realized contractual natural gas sales (which are gas produced, delivered, and paid for) were 170 million standard cubic feet per day for October 2023. As previously announced, commencing the second week of August 2023 the Corporation experienced unusual and unexpected production capacity restrictions at some of its gas fields as a result of issues at the Jobo gas treatment facility as well as certain of its producing wells. As a result of the foregoing the Corporation has had to restrict gas deliveries under certain supply contracts dedicated to supplying non-essential gas demand, all in accordance with applicable Colombian regulations and in consultation with the relevant authorities. The Corporation has since executed a number of successful remedial measures and is finalizing other ones in order to bring production back to normal levels by the end of November. The Corporation continues to expect that it will be able to make up lost sales volumes by year end and meet its average production and financial targets and therefore reiterates that it does not expect this situation to have a material impact on its overall operations and results for the year. Near Term Drilling Program: The Corporation completed the drilling of the Pandereta 9 and Nelson 15 development wells, which encountered 134 and 138 feet true vertical depth of net gas pay within the main Cienaga de Oro sandstone target. The wells are currently being tied into the Jobo gas treatment facility and will both be on production within one week. The Corporation anticipates spudding the Pandereta 10 development well within one week, which will be followed by the Clarinete 10 development well to be completed prior to the end of 2023. Announcement • Oct 31
Canacol Energy Ltd to Report Q3, 2023 Results on Nov 09, 2023 Canacol Energy Ltd announced that they will report Q3, 2023 results After-Market on Nov 09, 2023 Announcement • Oct 20
Canacol Energy Ltd Announces Board Changes Canacol Energy Ltd. announces the resignation of Mr. Juan Argento and announce that Ms. Valentina Garbarini has been appointed to the Board of Directors as his replacement. Mr. Argento has served on the Board of Directors since February 2021, originally as a nominee of one of the Corporation's principal shareholders. During his tenure as a member of the Board of Directors, Mr. Argento has greatly contributed to the stewardship of the Corporation through his insightful advice and extensive capital markets experience. The Corporation thanks him for his years of service and dedication. As a replacement for Mr. Argento, pursuant to its right to do so, the same shareholder nominated Ms. Garbarini. The Corporation has accepted the nomination of and has appointed Ms. Garbarini to the Board of Directors of the Corporation. Ms. Garbarini has more than 10 years of experience as director of the Family Office of the Cisneros Blavia family, leading the finance and legal affairs departments internationally and focused on the areas of energy, telecommunications and social responsibility. She is also a board member of corporation Digitel, a telecommunications company in Venezuela. She was a board member of the Universidad Iberoamericana in Bogotá, ambassador of the Sino PLPE Federation in Macao, of Fundación Unidos en Red and of GEN Global. Valentina graduated cum laude from Bentley University, in Boston, Massachusetts, in Business Management, Marketing and International Studies. Announcement • Oct 11
Canacol Energy Ltd. Provides Drilling Update Canacol Energy Ltd. announced that the Corporation completed the drilling of the Aguas Vivas 4 development well on September 16, 2023, encountering 357 feet true vertical depth (‘ft TVD’) of net gas pay within the main Cienaga de Oro sandstone (‘CDO’) target. The well was tied into permanent production and has been on production since September 26, 2023. The Corporation completed the drilling of the Clarinete 9 development well on October 5, 2023. The well encountered 236 ft TVD of net gas pay within the CDO sandstone reservoir and is currently being cased and completed prior to tying into the permanent production facility by October 24, 2023. The Corporation completed the drilling of the Fresa 2 appraisal well targeting sandstones of the upper CDO sandstone reservoir that are productive in the offsetting Fresa 1 exploration well drilled in 2021. Fresa 2 encountered 10 ft TVD of net gas pay within the upper CDO target. The Corporation is scheduling to complete and tie in the Fresa 2 well in November 2023. The Corporation is currently drilling the Pandereta 9 and Nelson 15 development wells, both targeting infill drilling locations within the respective producing fields. The Corporation plans to have both wells tied in and on production prior to the end of October 2023. Announcement • Sep 15
Canacol Energy Ltd. Declares Dividend, Payable on October 16, 2023 Canacol Energy Ltd. announced that it has declared a dividend of CAD 0.26 per share, payable on October 16, 2023, to shareholders of record at the close of business on September 29, 2023. This dividend qualifies as an 'eligible dividend' for Canadian income tax purposes. The declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors. Dividends on shares traded on the Toronto Stock Exchange will be paid in Canadian Dollars (“CAD”) on October 16, 2023. Announcement • Sep 06
Canacol Energy Ltd Provides Drilling Update Canacol Energy Ltd. announced that The Corporation spud the Cereza 1 exploration well on August 9, 2023 and reached a TD of 7,650 feet measured depth on August 20, 2023. The well encountered noncommercial quantities of gas within the Cienaga de Oro sandstone reservoir and was plugged and abandoned. The Corporation is currently drilling the Fresa 2 appraisal well targeting sandstones of the CDO reservoir that are productive in the offsetting Fresa 1 exploration well drilled in 2021. The Corporation anticipates completing the drilling of the well within the next two weeks. Two drilling rigs are currently being mobilized to drill the Agua Vivas 4 and Pandereta 9 development wells, with expected spud dates of the second week of September 2023 and the first week of October 2023 respectively. Both are infill development wells, and each will take approximately 4 weeks to drill and complete. The Corporation is focusing on infill development drilling and workover opportunities to meet anticipated high gas demand during the El Niño season which is anticipated to start in fourth quarter 2023. The company will return to exploration drilling prior to year end. Announcement • Aug 04
Canacol Energy Ltd. Provides Drilling Update Canacol Energy Ltd. provide the following drilling operations update. Canacol’s near field exploration program includes the successful Lulo discovery, as well as the Piña Norte, Cereza, and Mafaldine prospects. The program is targeting exploration prospects within the proven Cienaga de Oro sandstone reservoirs located close to the Jobo production facility that can be commercialized very quickly, allowing the Corporation to build productive capacity in order to meet the anticipated high demand for gas associated with the upcoming El Niño phenomena. The Corporation spud the Piña Norte 1 exploration well located on its 100% operated VIM21 Exploration and Production contract on June 26, 2023. The well is located approximately 500 meters to the west of the Jobo production facility. The well encountered an over pressured zone in a very shallow reservoir and due to drilling difficulties had to be plugged and abandoned. The twin offset Piña Norte 2 exploration well was spud on July 18, 2023 and is currently drilling ahead. The Corporation anticipates completing the well within the next two weeks. Upon completion of the Piña Norte 2 well, the drilling rig will be mobilized to drill the Mafaldine exploration well, also located on the VIM 21 E&P contract, and situated approximately 1.5 kilometers to the northwest of the Jobo production facility. A second rig is being mobilized to drill the Cereza 1 exploration well also located on its 100% operated VIM 21 E&P contract. The well is located approximately 500 meters to the north of the Jobo production facility. The well is anticipated to spud the second week of August 2023, and is targeting gas charged sands of the Cienaga de Oro reservoir. The well will take approximately 4 weeks to drill and complete. A third rig is being mobilized to drill the Aguas Vivas 4 development well which is also located on its 100% operated VIM 21 E&P contract. The well is anticipated to spud the third week of August 2023 and is targeting the CDO reservoir within the Aguas Vivas field. Announcement • Jul 29
Canacol Energy Ltd to Report Q2, 2023 Results on Aug 10, 2023 Canacol Energy Ltd announced that they will report Q2, 2023 results at 4:00 PM, US Eastern Standard Time on Aug 10, 2023 Announcement • Jul 06
Canacol Energy Ltd. Provides Gas Sales and Drilling Update Canacol Energy Ltd. provided the following gas sales and operations update. June Gas Sales of 186 MMscfpd: Realized contractual natural gas sales (which are gas produced, delivered, and paid for) were 186 million standard cubic feet per day for June 2023. Lulo 2 – Tests 24 MMscfpd: As announced on June 6, 2023, the Lulo 2 appraisal well, located on the 100 percent operated VIM21 Exploration and Production (“E&P”) contract, encountered 230 feet true vertical depth of net gas pay with average porosity of 20 percent within the primary Cienega de Oro (“CDO”) sandstone reservoir. The Lulo 2 well was tied into permanent production and flow tested 24 MMscfpd. Chimela 1 – Basal Lisama tests 353 BOPD: As announced on January 23, 2023, the Chimela 1 exploration well, located on the 100% operated VMM45 E&P contract located in the Middle Magdalena Basin, encountered 85 feet of net oil and gas pay within the Tertiary aged Basal Lisama sandstone reservoir. The Basal Lisama sandstone reservoir was perforated in various intervals between 13,625 and 13,694 feet measured depth and tested with a jet pump for 62 hours at an average rate of 353 barrels of oil per day (“bopd”) of 23.6 degree API oil. The average water cut during this flow period varied between 2-3% and constant THP (Tubing Head Pressure) of 40 psi was maintained. The well is currently shut in for a build-up period of 20 days. Once the pressure data has been collected, a development plan will be formulated and executed to rapidly commercialize the Chimela discovery. Chimela is located approximately 7 kilometers from the Acordionero field operated by Gran Tierra Energy. The Acordionero field produces approximately 18,600 bopd from the same reservoirs that have proven productive at Chimela. Near term drilling plans – Piña Norte, Cereza, and Malfadine near field exploration wells: Canacol’s near field exploration program includes the successful Lulo discovery, as well as the Piña Norte, Cereza, and Malfadine prospects. The program is targeting exploration prospects located close to the Jobo production facility that can be commercialized very quickly, allowing the Corporation to build productive capacity in order to meet the anticipated high demand for gas associated with the upcoming El Niño phenomena. The Corporation spud the Piña Norte 1 exploration well on its 100% operated VIM21 E&P Contract on June 26, 2023. The well is located approximately 500 meters to the west of the Jobo gas treatment facility and is targeting gas charged reservoirs in the CDO sandstone identical to those encountered at the nearby Lulo discovery. The Corporation anticipates that well will be drilled, completed, and tied into production within the next 3 weeks. If successful, the Corporation will drill the Piña Norte 2 appraisal well immediately upon completion of the Piña Norte 1 well. The Corporation plans to spud the Cereza 1 exploration well, located on its 100% operated VIM21 E&P contract, in early August. The well is located approximately 500 meters to the north of the Jobo production facility, and it also targeting gas charged sandstones of the CDO reservoir. The well will take approximately 3 weeks to drill, complete, and tie into production. If successful, the Corporation will immediately drill the Cereza 2 appraisal well. The Malfadine 1 exploration well will be the next well to be drilled in the nearfield exploration program, which is located approximately 1.5 kilometers to the northwest of the Jobo production facility. Malfadine 1 is also targeting gas charged reservoirs within the CDO sandstone and will take 3 weeks to drill and complete. If successful, the Corporation will immediately drill the Malfadine 2 and 3 appraisal wells. Announcement • Jun 21
Canacol Energy Ltd. Declares Dividend, Payable on July 17, 2023 Canacol Energy Ltd. announced that it has declared a dividend of CAD 0.26 per share, payable on July 17, 2023, to shareholders of record at the close of business on June 30, 2023. This dividend qualifies as an 'eligible dividend' for Canadian income tax purposes. The declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors. Dividends on shares traded on the Toronto Stock Exchange (“TSX”) will be paid in Canadian Dollars (“CAD”) on July 17, 2023. Announcement • Jun 07
Canacol Energy Ltd. Encounters 230 Feet of Net Gas Pay in Lulo 2 Well Canacol Energy Ltd. provided the information concerning the Lulo 2 well. The Lulo 2 appraisal well, located on the 100% operated VIM21 Exploration and Production (E&P) contract, reached total depth of 7,112 feet measured depth on June 1, 2023. The well encountered 230 feet true vertical depth of net gas pay with average porosity of 20% within the primary Cienaga de Oro (CDO) sandstone reservoir. The Corporation is preparing to case and complete the well and will then tie it directly into permanent production via the Jobo gas treatment facility located only fifty meters from the Lulo drilling platform. Near term drilling plans: After completion of the Lulo 2 well the Corporation will mobilize the rig to commence drilling of the Piña Norte 1 exploration well, located approximately 300 meters to the southwest of the Jobo production facility. Piña Norte 1 is also located on the 100% operated VIM21 E&P contract. The Piña Norte prospect, like Lulo, is one of 5 exploration prospects targeting the Middle and Lower CDO sandstone reservoir at depths of approximately 9,000 feet located within very close proximity to the Corporations main production facilities at Jobo. If successful, as is the case for Lulo, these near field exploration prospects can each provide new commercial production within weeks of discovery. The Corporation expects results from Piña Norte 1 by mid-July 2023. Piña Norte 1 will be followed by the drilling of the Cereza 1 exploration well located approximately 1 kilometer to the north of the Jobo production facilities. The Corporation is currently drilling the Clarinete 8 development well located on its 100% operated VIM5 Exploration and Exploitation Contract. Clarinete 8 is expected to be completed and tied into permanent production by the end of June 2023. Canacol’s current drilling program is focused on adding extra natural gas production capacity that will be available to consumers ahead of the El Niño season in the second half of 2023 when gas demand is anticipated to be high. Announcement • May 25
Canacol Energy Ltd. Provides Information Concerning New Lulo 1 Gas Discovery and Near Term Drilling Plans Canacol Energy Ltd. provided the following information concerning the new Lulo 1 gas discovery and near term drilling plans. Lulo 1 tests 22 MMscfpd: As announced on May 3, 2023, the Lulo 1 exploration well, located on the 100% operated VIM21 Exploration and Production (E&P) contract, encountered 207 feet of net gas pay within the Cienaga de Oro (CDO) sandstone reservoir. Lulo 1 was permanently tied in and production tested through the Jobo gas processing facilities located 50 meters away at an average rate of approximately 17 million standard cubic feet per day (MMscfpd) for 7 days. The well was tested at various rates ranging from 3.9 MMscfpd to 22.2 MMscfpd with the choke varying between 19/128 and 39/128 inches and a final tubing head pressure of 2,042 psi at the rate of 22.2 MMscfpd, and is currently producing at a controlled rate of approximately 17 MMscfpd. Lulo 2 drilling ahead: The Corporation commenced drilling of the Lulo 2 appraisal well on May 17, 2023, with the well anticipated to be completed and placed on production by the end of May 2023. It is anticipated that should Lulo 2 prove successful, the Lulo discovery, announced on May 3, 2023, will be capable of producing at a total rate of between 30 and 40 MMscfpd by early June 2023. Near term exploration plans: Upon completion of the Lulo 2 well, the Corporation will mobilize the rig to commence drilling of the Piña Norte 1 exploration well, located approximately 300 meters to the southwest of the Jobo production facility. The Piña Norte prospect, like Lulo, is one of 5 exploration prospects identified within the middle to lower CDO sandstone reservoir within very close proximity to the Corporations main production facilities at Jobo. If successful, as is the case for Lulo, these near field exploration prospects can each provide new commercial production within weeks of discovery. The Corporation expects results from Piña Norte 1 by mid July, 2023, following which the Corporation plans to drill the Cereza 1 exploration well located approximately 1 kilometer to the north of the Jobo production facility. Canacol's near term drilling focus is to increase productive capacity ahead of the upcoming El Niño season to ensure the adequate supply of natural gas to the Caribbean market. Announcement • Jan 24
Canacol Energy Ltd Announces Discoveries At Dividivi 1, Saxofon 1, and Chimela 1 Canacol Energy Ltd. provided details on the following three discoveries, as well as information concerning its near term drilling programs. Saxofon 1 - Encounters 338 feet of gross gas pay within the Porquero and CDO reservoirs: The Corporation commenced the drilling of the Saxofon 1 exploration well on December 2, 2022 on its 100% operated VIM5 Exploration and Production ("E&P") contract located in the Lower Magdalena Basin. The well reached a total depth of 9,416 feet measured depth ("ft md") on January 7, 2023 and encountered a gross gas column of 290 feet true vertical depth ("ft tvd") within the Porquero sandstone reservoir between depths of 4,385 and 4,675 ft md, and a gross gas column of 48 ft tvd within the primary Cienaga de Oro ("CDO") sandstone reservoir between 7,560 and 7,608 ft md. The gas bearing reservoirs encountered within the Porquero sandstone display average porosity of 26 %, while those within the CDO sandstone display average porosity of 16 %. The well is currently being cased, and the Corporation is planning to mobilize a workover rig to complete and test the CDO. The development plan for Saxofon will include the drilling of additional appraisal and development wells once a new 3D seismic survey has been acquired over that area of the block in late 2023. The Corporation will provide production test results when they become available. Dividivi 1 - Encounters 89 feet of gross gas pay within the CDO and Cicuco reservoirs: The Corporation commenced the drilling of the Dividivi 1 exploration well on December 20, 2022 on its 100% operated VIM33 E&P contract located in the Lower Magdalena Basin. The well reached a total depth of 4,692 ft md on January 2, 2023 and encountered a gross gas column of 89 ft tvd within the primary CDO sandstone and Cicuco limestone reservoirs between depths of 2,184 and 2,273 ft md. The gas bearing reservoirs have average porosity of 27 %. The Corporation is currently executing a flow test of the well in order to formulate a commercial development plan for the discovery. The discovery is located approximately 35 kilometers to the west of the TGI gas pipeline which currently has approximately 260 MMscfpd of spare transportation capacity into the interior of Colombia. The Corporation will provide production test results when they become available. Chimela 1 - Encounters 85 feet of net oil and gas pay within the Lisama reservoir: The Corporation commenced the drilling of the Chimela 1 exploration well on November 13, 2022 on its 100% operated VMM45 E&P contract located in the Middle Magdalena Basin. The well reached a total depth of 14,101 ft md on December 16, 2022, and encountered multiple zones of oil and gas pay within the primary Upper Lisama and Basal Lisama sandstone reservoirs between depths of 12,410 and 13,694 ft md. The oil bearing reservoirs encountered within the Basal Lisama were encountered between 13,004 and 13,694 ft md with individual oil filled sands between 8 and 20 ft tvd in thickness, with average porosity of 14 %. The gas bearing reservoir within the Upper Lisama is 9 ft tvd thick, with an average porosity of 10 %. The Corporation is currently demobilizing the drilling rig and is preparing to mobilize a workover rig to complete and production test the well and will provide results when they become available. Natilla 1 – Sidetracking: The Corporation spud the Natilla 1 exploration well located on its 50% operated working interest SSJN 7 E&P contract on December 1, 2022. Natilla 1 is targeting gas bearing sandstones within the CDO and Porquero sandstone reservoirs. The well drilled to a depth of 11,848 ft md within the Porquero sandstone interval, the secondary target of the well, prior to encountering drilling related problems. The well is currently being sidetracked and the Corporation anticipates to reach planned total depth of 16,609 ft MD within the primary CDO sandstone target within 6 weeks. Near term drilling program: The Corporation plans to spud the Lulo 1 exploration well located on its 100% working operated interest Esperanza Exploration and Exploitation contract in mid March 2023. The Lulo 1 well is located less than 1 kilometer to the east of the Jobo production facility and is targeting gas bearing sandstones of the CDO sandstone reservoir. The well is anticipated to take 4 weeks to drill and complete. Announcement • Mar 20
Canacol Energy Ltd. Declares Dividend, Payable on April 15, 2021 Canacol Energy Ltd. announced that it has declared a dividend of CAD 0.052 per share, payable on April 15, 2021, to shareholders of record at the close of business on March 31, 2020. The ex-dividend date for all shareholders is March 30, 2021. This dividend qualifies as an 'eligible dividend' for Canadian income tax purposes. The declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors. Dividends on shares traded on the Toronto Stock Exchange will be paid in Canadian Dollars on April 15, 2021. Announcement • Mar 06
Canacol Energy Ltd to Report Fiscal Year 2020 Results on Mar 18, 2021 Canacol Energy Ltd announced that they will report fiscal year 2020 results on Mar 18, 2021 Announcement • Mar 04
Canacol Energy Ltd. Provides February 2021 Drilling Update Canacol Energy Ltd. announced to provide its February 2021 drilling program. The Flauta 1 exploration well which completed drilling in February 2021 did not encounter commercial gas and has been plugged and abandoned. The Oboe 2 development well has been completed as a successful gas producer and is being tied into the Jobo gas processing facility. The rigs are currently being mobilized to drill the Cañahuate 4 development well and the Milano 1 exploration well, both of which are anticipated to spud the second week of March 2021. Each will take approximately 5 weeks to drill and test. Announcement • Feb 13
Canacol Energy Ltd. Appoints Juan Argento to Board of Directors Canacol Energy Ltd. announced that Mr. Juan Argento has been appointed to the Board of Directors. Announcement • Feb 04
Canacol Energy Ltd. Provides Drilling Update Canacol Energy Ltd. announced to provide the following information concerning its January 2021 natural gas sales, drilling program, and credit rating. Realized contractual natural gas sales (which are gas produced, delivered, and paid for) were 177 million standard cubic feet per day for January 2021. The Corporation spud the Flauta 1 exploration well and the Oboe 2 development well in January 2021. Both wells are targeting gas within the Cienega de Oro ("CDO") sandstone reservoir. Upon completion of the drilling and testing of the two wells, the Corporation will mobilize the rigs to drill the Cañahuate 4 development well and Siku 1 exploration well, both targeting gas within the CDO sandstone reservoir. On January 19, 2020, Fitch Ratings affirmed Canacol Energy Ltd.'s Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at 'BB-', and the Corporations senior unsecured notes at 'BB-'/'RR4'. The Rating Outlook has been revised to Positive from Stable. The Fitch Ratings report noted the following key rating drivers as factors for the rating and outlook revision to Positive: Contracted revenues, noting Canacol's long-term, take-or-pay contractual structure at fixed prices with strong credit quality off-takers significantly lowers the company's business risk as this mitigates exposure to price and volumes risk. Predictable cash flow generation. Strong capital structure. Growing production profile. Regional importance, noting Canacol is a key gas producer and supplier for the highly dependent Caribbean coast of Colombia. Announcement • Dec 01
Canacol Energy Ltd Executes New Ship or Pay Gas Transportation Agreements Canacol Energy Ltd. announced that the Corporation and Promigas S.A. E.S.P. have executed a series of new ship or pay agreements to transport gas from Canacol's fields located in the departments of Cordoba and Sucre to Cartagena and Barranquilla using existing gas transportation networks. The new agreements enter into effect on December 1, 2020 and will average approximately 100 million standard cubic feet per day over a 10-year period. Despite the lengthy delays caused by Promigas to fulfill its contractual obligations related to the expansion of their Jobo to Cartagena and Barranquilla pipeline networks, Canacol has agreed to enter into these new and revised ship or pay agreements to guarantee the energy security of Colombia. Canacol's primary mission is to guarantee the supply of natural gas to consumers, and given the tight supply demand fundamentals of the market it is important that pipeline projects are delivered on time. Announcement • Nov 12
Canacol Energy Ltd. Announces Director Oswaldo Cisneros Has Passed Away Canacol Energy Ltd. announced that Mr. Oswaldo Cisneros, non-executive director of Canacol since 2015, has passed away. Mr. Charle Gamba, President, CEO and Executive Board Member for Canacol. The Board of Directors, the executive management team, and the employees of Canacol express their sincere condolences to Mr. Cisneros' family during this difficult time. Announcement • Jul 30
Canacol Energy Ltd to Report Q2, 2020 Results on Aug 13, 2020 Canacol Energy Ltd announced that they will report Q2, 2020 results at 5:00 PM, Eastern Standard Time on Aug 13, 2020 
