12:20 PM EST - Canacol Energy Ltd. : provided an operations update concerning its Rancho Hermoso Field located in the Llanos Basin of Colombia. The Corporation has completed production testing of the C7 sandstone reservoir in the Rancho Hermoso 4 well, which after one week of testing flowed at an average rate of 1,786 barrels of oil per day (bpod) gross (447 bopd net) of 34 degrees API light oil. No reserves are currently attributed to the C7 reservoir, and based upon the positive test results, the Corporation is formulating a plan to develop this new productive reservoir on a field wide basis, which will involve incorporating selective recompletions of the zone into a schedule of multiple workovers going forward over the next two years. Canacol Energy Ltd.
shares T.CNE are trading even at $1.06.
