11:10 AM EST - Canacol Energy Ltd. : Provided the following update concerning its Aguas Vivas 1 exploration well and the near term appraisal drilling program. The Corporation also provides information on its dividend program. The Aguas Vivas 1 exploration well encountered 412 feet true vertical depth of net gas pay within the Cienaga de Oro sandstone reservoir, the thickest net gas pay ever encountered by the Corporation in its history. The CDO sandstone reservoir was perforated across an interval of 145 ft TVD and drill stem tested. The well flowed at a final rate of 35.5 million standard cubic feet per day (“MMscfpd”) with a flowing wellhead pressure of 1013 psi and no water after a 22 hour test period. The average flow rate achieved during the recorded test period was 17.2 MMscfpd. The well has been tied into the Jobo gas treatment facility and is on permanent production. Canacol Energy Ltd.
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