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Canacol Talks Labrador Discovery at Llanos Basin Lease

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Canacol Talks Labrador Discovery at Llanos Basin Lease

Canacol Energy Ltd. has reported the results of its Labrador 2 well on the Labrador discovery, located on the LLA23 Exploration and Production (E&P) Contract immediately to the north of the Corporation's Rancho Hermoso field in the Llanos Basin of Colombia.

The Labrador 2 well encountered 59 feet of oil pay within the Middle and Lower Gacheta, and Ubaque reservoirs, all of which are productive to the south in the Rancho Hermoso field. The Lower Gacheta reservoir in the offsetting Agueda 1 ST well, located approximately 1 kilometer to the south, was placed on production November 30, 2012 During January 2013 the well had an average gross rate of 1,535 barrels of gross oil per day (bopd) (1,228 barrels of net oil per day for Canacol before royalty) and has produced a gross cumulative amount…

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