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Canacol Energy Ltd.

10:04 AM EST - Canacol Energy Ltd. : Provided the following gas sales and drilling operations update. August Gas Sales of 178 MMscfpd. Realized contractual natural gas sales (which are gas produced, delivered, and paid for) were 178 million standard cubic feet per day for August 2023. Commencing the second week of August 2023 the Corporation experienced unusual and unexpected production capacity restrictions at some of its gas fields as a result of issues at the Jobo gas treatment facility as well as certain of its producing wells. As a result of the foregoing the Corporation has had to restrict gas deliveries under certain supply contracts dedicated to supplying non-essential gas demand, all in accordance with applicable Colombian regulations and in consultation with the relevant authorities. The Corporation is presently working on remediating this short-term disruption and expects to have production back to normal levels shortly. Canacol Energy Ltd. shares T.CNE are trading up $0.05 at $11.55.