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Canacol Energy Ltd Provides Gas Sales and Drilling Update

Press release content from Globe Newswire. The AP news staff was not involved in its creation. Canacol Energy Ltd. Provides Gas Sales and Drilling Update Canacol Energy Ltd.May 6, 2021 GMT CALGARY, Alberta, May 06, 2021 (GLOBE NEWSWIRE) Canacol Energy Ltd. (“Canacol” or the “Corporation”) (TSX:CNE; OTCQX:CNNEF; BVC:CNEC) is pleased to provide the following information concerning its April 2021 natural gas sales and drilling program. Gas sales averaged 166 MMscfpd for April 2021 Realized contractual natural gas sales (which are gas produced, delivered, and paid for) were 166 million standard cubic feet per day (“MMscfpd”) for April 2021. Nelson 9 development well and Agua Vivas 1 exploration well

Canacol Energy Ltd To Announce First Quarter 2021 Financial Results on Thursday, May 13, 2021; Hold Conference Call on Friday, May 14, 2021

All remarks made during the conference call will be current at the time of the call and may not be updated to reflect subsequent material developments. First quarter 2021 financial results will be available through the Investor Relations section of the company’s website. A replay of the webcast will be available on our website until May 21, 2021. The transcript of the webcast will be posted on the website within five days after the call is completed. About Canacol Canacol is a natural gas exploration and production company with operations focused in Colombia. The Corporation s common stock trades on the Toronto Stock Exchange, the OTCQX in the United States of America, and the Colombia Stock Exchange under ticker symbol CNE, CNNEF, and CNE.C, respectively.

Canacol Energy Ltd Announces 5 7 TCF of Gross Mean Un-risked Prospective Conventional Natural Gas Resources in Colombia

Cautionary Statement There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources. Table Notes (1)   The GaffneyCline Report includes estimates of un‐risked prospective resources and risked prospective resources for individual prospects and leads. The aggregations of these estimates were prepared by Canacol. (2)   The Corporation aggregates probabilistically to the country level for internal portfolio management and long term planning. As required by COGEH Section 5.7, an explanation of this aggregation methodology is provided. A single distribution of prospective resources volumes on an un‐risked and risked basis was generated by means of a multiple trial Monte Carlo simulation incorporating Chance of Discovery (Geological Chance of Success (GCoS)), and Chance of Development (CoD) of all 188 prospects and leads from GaffneyCline’s audit. From

Canacol Energy Ltd Announces 5 7 TCF of Gross Mean Un-risked Prospective Conventional Natural

Press release content from Globe Newswire. The AP news staff was not involved in its creation. Canacol Energy Ltd. Announces 5.7 TCF of Gross Mean Un-risked Prospective Conventional Natural . Canacol Energy Ltd.April 21, 2021 GMT CALGARY, Alberta, April 21, 2021 (GLOBE NEWSWIRE) Canacol Energy Ltd. (“Canacol” or the “Corporation”) (TSX: CNE; OTCQX: CNNEF; BVC: CNEC) is pleased to report on the conventional natural gas prospective resources (resources other than reserves, “ROTR”) for its Esperanza, VIM‐21, VIM‐5, VIM‐19, VIM-33, VIM-44 and SSJN-7 exploration blocks located in the Lower Magdalena Valley basin, and VMM-45, VMM-47 and VMM-49 exploration blocks located in the Middle Magdalena Valley basin of Colombia. Prospective resources are based on a new independent resources audit prepared by Gaffney, Cline & Associates (“GaffneyCline”), effective December 31, 2020 (the “GaffneyCline Report”). Canacol is a natural gas focused exploration and production

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