03:28 PM EST - Canacol Energy : announced its calendar 2012 capital program of $150 million U.S. for exploration and development activities in Colombia, Brazil, and Guyana. The budget includes the drilling of 40 gross wells (16 net wells), which consists of 26 gross development wells and 14 gross exploration wells. The budget also includes the acquisition of 740 kilometres ("km") and 361 square km of 2D and 3D seismic respectively and the expansion of facilities at Canacol's operated Rancho Hermoso field. In total, the Corporation plans to spend $88 million U.S. for exploration programs in Colombia, Brazil, and Guyana and $62 million U.S. for production programs in Colombia in 2012. The budget meets the Corporation's exploration drilling and seismic acquisition work program commitments for 2012. Canacol Energy
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