Canacol Energy's Acordeon 1 Tests 33 MMSCFPD at Significant New Gas Discovery

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Jun 11, 2019
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CALGARY, Alberta, June 11, 2019 (GLOBE NEWSWIRE) -- Canacol Energy Ltd. ("Canacol" or the "Corporation") (TSX:CNE; OTCQX:CNNEF; BVC:CNEC) is pleased to provide the results of the Acordeon 1 exploration well located on its 100% operated VIM 5 block in the Lower Magdalena Valley Basin of Colombia. Given the magnitude of this new discovery the Corporation is altering its previously announced 2019 drilling program and has spud the Ocarina 1 well in order to prove up its reserve potential. Additionally, Promigas S.A. has received all regulatory approvals, including approvals of the two modifications to the Jobo to Majaguas pipeline segment, required to complete the construction of the pipeline expansion. The Corporation estimates that the 80 million standard cubic feet (“MMscfpd”) of new pipeline capacity will be on stream by mid-July 2019, lifting Canacol’s gas sales to approximately 215 MMscfpd.