Arrow Share Disposition
On
Gas Sales Update
Realized contractual natural gas sales (which are gas produced, delivered, and paid for) averaged 150.4 million standard cubic feet per day (“MMscfpd”) during the first quarter of 2024.
Natural gas sales for the period of
Chontaduro 2 Encounters 88 Feet of
The Chontaduro 2 appraisal well, located on the 100 percent operated VIM21 Exploration and Production (“E&P”) contract, was spud on
The well is currently being completed within the CDO reservoir and is expected to be tied into permanent production at a rate of between 10 and 12 MMscfpd within one week.
About Canacol
Canacol is a natural gas exploration and production company with operations focused in
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur, including without limitation statements relating to estimated production rates from the Corporation's properties and intended work programs and associated timelines. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Corporation cannot assure that actual results will be consistent with these forward-looking statements. They are made as of the date hereof and are subject to change and the Corporation assumes no obligation to revise or update them to reflect new circumstances, except as required by law. Prospective investors should not place undue reliance on forward looking statements. These factors include the inherent risks involved in the exploration for and development of crude oil and natural gas properties, the uncertainties involved in interpreting drilling results and other geological and geophysical data, fluctuating energy prices, the possibility of cost overruns or unanticipated costs or delays and other uncertainties associated with the oil and gas industry. Other risk factors could include risks associated with negotiating with foreign governments as well as country risk associated with conducting international activities, and other factors, many of which are beyond the control of the Corporation.
Realized contractual gas sales is defined as gas produced and sold plus gas revenues received from nominated take or pay contracts.
For more information please contact: Investor RelationsSouth America : +571.621.1747 IR-SA@canacolenergy.com Global: +1.403.561.1648 IR-GLOBAL@canacolenergy.com
Source:
2024 GlobeNewswire, Inc., source