The Corporation has completed the negotiation of 100 MMscfpd of new take‐or‐pay gas sales contracts with existing and new consumers on the Caribbean coast of Colombia to coincide with the additional pipeline capacity and shall be releasing details of these sales contracts shortly.
* * *
Canacol is an exploration and production company with operations focused in Colombia and Ecuador. The Corporation's common stock trades on the Toronto Stock Exchange, the OTCQX in the United States of America, and the Colombia Stock Exchange under ticker symbols CNE, CNNEF, and CNEC, respectively.
This press release contains certain forward‐looking statements within the meaning of applicable securities law.
Forward‐looking statements are frequently characterized by words such as "plan", "expect", "project",
"target", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain
events or conditions "may" or "will" occur, including without limitation statements relating to estimated
production rates from the Corporation's properties and intended work programs and associated timelines.
Forward‐looking statements are based on the opinions and estimates of management at the date the
statements are made and are subject to a variety of risks and uncertainties and other factors that could cause
actual events or results to differ materially from those projected in the forward‐looking statements. The
Corporation cannot assure that actual results will be consistent with these forward looking statements. They
are made as of the date hereof and are subject to change and the Corporation assumes no obligation to revise
or update them to reflect new circumstances, except as required by law. Information and guidance provided
herein supersedes and replaces any forward looking information provided in prior disclosures. Prospective
investors should not place undue reliance on forward looking statements. These factors include the inherent
risks involved in the exploration for and development of crude oil and natural gas properties, the uncertainties involved in interpreting drilling results and other geological and geophysical data, fluctuating energy prices, the possibility of cost overruns or unanticipated costs or delays and other uncertainties associated with the oil and gas industry. Other risk factors could include risks associated with negotiating with foreign governments as well as country risk associated with conducting international activities, and other factors, many of which are beyond the control of the Corporation. Other risks are more fully described in the Corporation's most recent Management Discussion and Analysis ("MD&A") and Annual Information Form, which are incorporated herein by reference and are filed on SEDAR at www.sedar.com. Average production figures for a given period are derived using arithmetic averaging of fluctuating historical production data for the entire period indicated and, accordingly, do not represent a constant rate of production for such period and are not an indicator of future production performance. Detailed information in respect of monthly production in the fields operated by the Corporation in Colombia is provided by the Corporation to the Ministry of Mines and Energy of Colombia and is published by the Ministry on its website; a direct link to this information is provided on the Corporation's website. References to "net" production refer to the Corporation's working‐interest production before royalties.
For further information please contact:
Investor Relations +1 (214) 235‐4798Email: IR@canacolenergy.com http://www.canacolenergy.com
Canacol Energy Ltd. published this content on 10 November 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 10 November 2016 22:04:09 UTC.
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