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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� ....

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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 ....

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