Why Natural Gas In Colombia? 3 Bogota Colombia Conventional gas Colombia • South America’s oldest/most stable democracy • 3rd largest South American economy • Regulatory stability (1) Natural gas in Colombia(2) • Country´s gas…
Colombia’s Caribbean Natural Gas Supply Deficit Strong gas demand on Colombia’s Caribbean Coast • Demand ~450 MMcf/d increasing 3% / yr.(2) Terminal decline in Caribbean gas supply • For 30+ yrs., Chevron provided ~50% of gas supply…
5 Natural gas success • Acquisitions $170 MM • Capital invested $301 MM $471 MM • Value created $1.4 B(1) • ‘17 2P reserve replacement 399% Solid reserve base underpins value • Blocks/net acres 5 / 1.1 MM • Dec ‘17 2P gas…
Canacol’s Consistent Growth Solid gas portfolio • E&P contracts / net acres 5 / 1.1 MM • Take/pay fixed wellhead gas pricing $4.75/Mcf(1) • Robust operating margins ~70% Continuous production and reserves growth • Est.‘18?‘19…
To 230 MMcf/d By Jun ‘19 Jobo Station Bremen Sincelejo To Medellin Dec ’12 +18 MMcf/d • Acquired Shona Energy • 80 km pipeline ? Cerromatoso nickel mine Jun ‘16 +55-60 MMcf/d ? 73-78 MMcf/d • Promigas-funded 190 km pipeline Dec…
2019 Capital Plan ($ in MM) 9 well program: 1 2018 $119 MM well, 8 2019 wells (1) Pre-operative seismic, workover, trailing, social, and other costs # Well Classification 4Q \'18 1Q \'19 Remainder of \'19 1 Nelson-13 Development 2…
Expanding Canacol’s Gas Resource Runway (1) Represents gross mean unrisked prospective resources 9 Recent 30% increase in prospective resources (Source: Gaffney Cline & Associates resource report, effective 12.31.17) Forward plan •…
Nelson-13 Development Well Dec ’18: encountered the thickest gas reservoirs in corporate history Nelson Field A B Top CDO depth structure 500 M Penetration point B A Nelson-13 Nelson-13 10 266 ft TVD of net gas pay from 2…
Palmer-2 targeting CDO + Porquero upside SSJN 7 VIM 5 VIM 19 VIM 21 Esperanza Palmer-2 Palmer-2 Appraisal Well Spud 1Q ’19: build out productive capacity to 230 MMcf/d A B Palmer-2 Penetration point Surface pad location…
Nelson-7 Development Well Spud 1Q ’19: build out productive capacity to 230 MMcf/d Geoseismic section along Nelson-7 wellbore trajectory A Nelson-7 B Nelson 2 & 3 (“N-2, N-3”) • Drilled 2011 • Current production 13 & 15 MMcf/d •…
Acordeon 1 Exploration Well Spud 1Q/2Q ’19: Multiple follow-up locations in success case Fluid factor section along Acordeon-1 and -3 13 A B SSJN 7 VIM 5 VIM 19 VIM 21 Esperanza Acordeon-1 Acordeon-1 Acordeon-3 A B Chirimia…
US $ in MM, except CDN $/share TSX $/share (1/7/19) CDN $4.22 Fully diluted shares outstanding(1) 179 Market capitalization(2) $ 569 Net debt(3) $ 299 Enterprise value $ 868 Insider ownership 22% Capital structure As of…
Recent Corporate Finance Actions May ‘18: closed $320 MM of sr. unsecured notes (1) Fluctuating three month Libor +5.5% as of 4/26/18 TSX: CNE | BVC: CNE.C BB- B1 • Approved by TSX to purchase up to 14.1 MM shares • 10% of the…
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