The Corporation's strategy is built on management's deep expertise in Colombia. The team is a focused group of proven natural gas and oil finders. Where others see only risk, Canacol's management has the expertise to see the potential opportunity, the ability to capitalize on it and the agility to act quickly.

History

Through bid rounds, direct negotiations, farm-ins, and select acquisitions, the Corporation secured 3 million gross acres of prospective lands across Colombia and Ecuador
Assembled exploration portfolio that management estimates to contain over 1 billion barrels of oil equivalent of net unrisked rcoverable prospective resources
From 2008 to present including produced barrels, expanded 2P oil reserves plus deemed volumes from 2 to 32 MMboe, representing a CAGR of 41%.
From 2012 to present: Including produced barrels of oil equivalent, increased 2P natural gas reserves from 17 to 72 MMboe, representing a CAGR of 44%.
Pre-tax NPV-10 multiplied from US $199 million to US $1.4 billion
63% historical exploration success (17 / 27 total exploration wells)
96% historical development success (55 / 57 total development wells)
Strong business development team that has participated in 5 bid rounds and scoped over 150 potential transactions and over 20 farm-in opportunities. Canacol closed 4 deals, chose 4 farm-ins, executed 7 strategic farm-outs. The Corporation negotiated directly with Colombia's National Hydrocarbon Authority on 4 transactions, and delivered 1 strategic joint venture in Ecuador
 

'08 Feb '08
Launched as a private company

Jun '08
Taken public on the Toronto Venture Exchange via reverse takeover

Farm-in to Ombu E&P Contract

Jul '08
Discover Capella Field (1.1 billion barrel OOIP) on the Ombu E&P Contract on the Caguan-Putumayo Basin, Colombia

Aug '08
Acquire Rancho Hermoso Field in the Llanos Basin, Colombia

'09 Oct '09
Raised CDN $40 million in equity

Dec '09
Rancho Hermoso 5 well test ~8,000 gross bopd (new pool discovery)

Increase pre-royalty net 2P reserves to 6.7 MMbls year over fiscal year

'10 May '10
Won two prospective shale oil E&P contracts (COR-11 and COR-39) in the Magdalena Basin, Colombia

Raise CDN $58 million in equity

Jul '10
Issue CDN $42 million in convertible debentures

List on the Colombia Stock Exchange

Accelerate operations at Rancho Hermoso Field and drill 5 straight successful wells with test results ranging from 5,000-19,000 gross bopd

Increase pre-royalty net 2P reserves by 21%, from 6.7 to 8.1 MMbls year over fiscal year

'11 Feb '11
Raise CDN $58 million in equity

May '11
Migrate from the TSX Venture to the Toronto Stock Exchange

Nov '11
Acquire private E&P Company Carrao Energy, which expose Canacol to repeatable growth in the Llanos Basin, Colombia (via LLA 23 E&P Contract, which is adjacent/on trend with successful Rancho Hermoso Field) and prospective shale oil exploration in the Magdalena Basin, Colombia (VMM 2, VMM 3, and Santa Isabel E&P contracts)

Dec '11
Increase pre-royalty net 2P reserves plus deemed volumes by 34%, from 8.1 to 10.9 MMbls year over fiscal year

'12 Feb '12
Enter Ecuador via joint venture with Tecpetrol, Schlumberger, and Sertecpet

Apr '12
Farm-out prospective shale oil VMM 2 E&P Contract to ExxonMobil

Oct '12
Discover Mono Araña Field (shallow plus deep shale) on VMM 2 E&P Contract

Dec '12
Discover Labrador Field on LLA 23 E&P Contract, which extends the successful Rancho Hermoso Field trend

Acquire public E&P Company Shona Energy, which expose Canacol to ~16 MMboe of long-life gas reserves and conventional heavy oil upside on 4 E&P contracts in Colombia

Increase pre-royalty net 2P reserves plus deemed volumes by 63%, from 10.9 to 17.8 MMbls year over fiscal year

'13 Feb '13
Farm-out prospective shale oil E&P Contract Santa Isabel to ConocoPhillips

Apr '13
Secure long-term US $140 million senior secured term loan with 4 syndicate banks led by Credit Suisse

May '13
LLA 23 E&P Contract: Labrador 2 well, ~59 ft of pay, test 1,618 gross bopd

Jul '13
LLA 23 E&P Contract: Labrador 3 well, ~62 ft of pay, test 1,460 gross bopd

Aug '13
Santa Isabel E&P Contract: Discover Oso Pardo

Oct '13
LLA 23 E&P Contract: Labrador 5 well, ~55 ft of pay, test 778 gross bopd

Nov '13
VMM 2 E&P Contract: Mono Araña 1 well, ~85 ft of pay, test 1,043 gross bopd from the shallow Lisama Formation

Dec '13
LLA 23 E&P Contract: Discover Leono Field, the second oil field on LLA 23 E&P Contract

LLA 23 E&P Contract: Leono 1 well, ~133 ft of pay, test 1,863 gross bopd from the Barco Formation

LLA 23 Leono 1 well, ~133 ft of pay, test 1,869 gross bopd from the Gacheta Formation

Increase pre-royalty net 2P reserves plus deemed volumes by 128%, from 17.8 to 40.6 MMboe year over fiscal year

'14 Jan '14
VMM 2 E&P Contract: Mono Araña 2 well, ~172 ft of pay

Acquire COR 4 and COR 12 E&P contracts, doubling Canacol's prospective shale oil position in the Magdalena Basin, Colombia

Feb '14
List in the United States on the OTCQX International Premier market

LLA 23 E&P Contract: Leono 2 well, ~121 ft of pay, test 1,328 gross bopd from the C7 Formation

LLA 23 Leono 2 well, ~121 ft of pay, test 3,007 gross bopd from the Barco Formation

Deliver 6,140 boepd in new gas sales contracts and 44% increase in 2P gas reserves in Lower Magdalena, Colombia

Mar '14
VMM 2 E&P Contract: Mono Araña 1 well, ~230 ft of pay in the La Luna Formation, test 590 gross bopd

Apr '14
Upsize existing senior secured term loan to US $220 million with syndicate banks led by Credit Suisse

May '14
LLA 23 E&P Contract: Discover Pantro Field, the third oil field on LLA 23 E&P Contract

LLA 23 E&P Contract: Pantro 1 well, 83 ft of pay, test 2,930 gross bopd from the Gacheta Formation and 1,038 gross bopd from the Mirador Formation.

Raise CDN $125 million in equity

Jun '14
Increase working interest in LLA 23 from 80 to 90%

LLA 23 E&P Contract: Labrador 4 well, ~111 ft of pay, test 1,848 gross bopd combined from the Gacheta and Ubaque Formations

LLA 23 E&P Contract: Leono 3 well, ~36 ft of pay, test 1,062 gross bopd from the Mirador Formation

Jul '14
Santa Isabel E&P Contract: Morsa 1 well, ~66 ft of pay, test 832 gross bopd from the Umir Formation

Aug '14
LLA 23 E&P Contract: Pantro 2 well, ~26 ft of pay, test 848 gross bopd from the C7 Formation

Santa Isabel E&P Contract: Oso Pardo 2 well, ~149 ft of pay in the Tertiary Umir and Basal Lisama Formations

Esperanza E&P Contract: Palmer 1 well, ~87 ft of pay in the Cienaga de Oro Formation

Sep '14
New Gas Sale Contract, Lifts Forecast Gas Sales to 14,560 BOEPD in 2015 in Colombia

LLA 23 E&P Contract: Tigro 1 well, ~72 ft of pay, on production 1,206 gross bopd from the Mirador Formation

Dec '14
Acquire VIM 5 and VIM 19 E&P Contracts and Clarinete Gas Discovery in the Lower Magdalena Valley of Colombia

'15 Jan '15
LLA 23 E&P Contract: Discover Maltes Field, the fourth oil field on LLA 23 E&P Contract

Test 45 MMcf/d at Clarinete 1 Gas Discovery in Colombia

Feb '15
Announce New 35 MMSCFPD 15 Year Take or Pay Gas Sales Contract

Mar '15
Announces 234 BCF (41 MMBOE) Increase in 2P Gas Reserves in Colombia

Apr '15
Enters Into US$ 200 Million Long-Term Secured Credit Agreement to Replace Existing Credit Agreement

Jul '15
Announces Receipt of Environmental Permit and Commencement of Pipeline Construction to Deliver a Net Additional 65 MMSCFPD of Gas (11,400 BOEPD) Starting December 2015

Sep '15
Close CDN $79 MM strategic investment by Cavengas Holdings S.R.L.

Sep '15
Reports 86% Increase in 2P Reserves to 80 MMboe, representing a pre-tax NPV-10 value of $1.2b

Sep '15
Clarinete-2 ST encounters 127 ft of net gas pay, confirming a substantial gas discovery at 100% operate VIM-5 block

Sep '15
Announce Strategic Investment From Cavengas Holdings

'16 Mar '16
Test 66 MMcf/d (11,579 boepd) from Oboe-1 natural gas well in Colombia

Mar '16
Increase PDP Reserves by 110% and Adds Calendar 2015 2P Reserves of 30.3 MMboe (1,013% reserves replacement)

Apr '16
Achieve 90 MMcf/d Realized Gas Sales

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