10:02 AM EST - Canacol Energy Ltd. : provided an update of its development drilling program at its operated Rancho Hermoso Field located in the Llanos Basin of Colombia. The Corporation has completed the drilling and casing of the first of four new development wells it plans to drill through the remainder of calendar 2011. The Rancho Hermoso 11 well has been cased and is expected to be completed and brought onto permanent production from the Ubaque reservoir within the next 2 weeks. The RH 11 well encountered 130 feet of net oil pay within six different reservoir intervals, which include, from top to bottom, the C7, Mirador, Los Cuervos-Barco, Guadalupe, Gacheta, and Ubaque. Canacol Energy Ltd.
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