Exploration & Production | Reserves
Canacol Reports Reserve Evaluation
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Canacol Energy Ltd. has announced the results from an independent resources evaluation of the Corporation's Santa Isabel, VMM 2, and VMM 3 blocks, effective June 30, 2014.
For the prospective deep Cretaceous interval, specifically the La Luna and the Tablazo Formations, in each of the three blocks, the Corporation has 30% working interest in Santa Isabel, 20% working interest in VMM 2, and 20% undivided interest in VMM 3 subject to fulfillment of certain conditions. The three blocks in aggregate consist of 260,000 and 62,000 gross and net acres respectively in the Middle Magdalena Basin, Colombia.
The Corporation engaged DeGolyer & MacNaughton Canada Ltd. to prepare an independent prospective resources report. D&M provided low, best, high, and mean estimates of unrisked resources on a…
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