10:06 AM EST - Canacol Energy Ltd. : Provided the following exploration, gas and oil sales, and Corporate update. Breva 1 was spud on April 29, using the Pioneer 302 drilling rig, and reached a total depth of 7,560 feet measured depth in 13 days. The well encountered 29 ft TVD of net gas pay with average porosity of 27% within the primary Middle Porquero sandstone reservoir target. The Middle Porquero sandstone reservoir was perforated between 6365 -6422 ft MD and flowed at a final stable rate of 25 MMscfpd at a 64/64 inch choke and a flowing tubing head pressure of 910 pounds per square inch over a test period of 40 hours. Based upon this result, management has calculated an absolute open flow rate of 91 MMscfpd for the Middle Porquero sandstone reservoir in the Breva 1 well. Canacol Energy Ltd.
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