Canacol Energy Ltd. announced that Mr. Jason Bednar has been appointed the permanent Chief Financial Officer of the Corporation effective December 2, 2015. Mr. Bednar has been serving in the capacity of interim CFO of the comp any since June 1, 2015, following a leave of absence of George Gramatke. Jason Bednar is a director of the Corporation and has been the Chairman of its Audit Committee from inception until June 1, 2015.

Michael Hibberd will remain as the new Chair of the Audit Committee of the Corporation. Mr. Gramatke will remain available to the Corporation on a consulting basis, as required.