09:56 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 third new development well it had planned to drill in calendar 2011. The Rancho Hermoso 13 well has been placed on permanent production from the Ubaque reservoir at a stabilized gross rate of 10,164 barrels of oil per day ("bopd") (2,541 bopd net to Canacol). The RH 13 well encountered 110 feet of net oil pay within five different reservoir intervals, which include, from top to bottom, the C7, Mirador, Los Cuervos-Barco, Guadalupe, and Ubaque. Canacol Energy Ltd.
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