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Canacol Adds Second Rig, Drill Another Appraisal Well on VMM-2 Block
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Canacol Energy Ltd. has reported its financial results for the three months and year ended June 30, 2014.
Charle Gamba, President and CEO of the Corporation, commented: "Fiscal Q4 2014 was another successful quarter for the Corporation as we continued the two-year trend in steadily increasing production, revenues and netbacks over the previous quarter and the comparative prior year period. From a cash generation standpoint, the Corporation generated $23.4 million of adjusted funds from operations in fiscal Q4 2014, inclusive of outflows of $10.6 million related to non-recurring settlements. Without such outflows, adjusted funds from operations were $34.0 million on a pro forma basis, the highest in Canacol's history. Our average corporate operating netback has increased steadily over…
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