Targeting ~65% Increase In Production To ~215 MMcf/d By June 2019 February 2019
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 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 • Times…
Discovered 468 BCF In 5-years Reserve reports as of 12/31/17 and 7/31/18 (1) Pre-tax NPV-10 for Canacol’s 2P gas reserves as of 12/31/17 (2) Represents gross mean unrisked resources from a resource report prepared by Boury Global…
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(2) • Operating netback $3.75/Mcf • Robust operating margins ~79% Continuous production and…
Cartagena Barranquilla Cerro Matos0 10 km Canacol gas blocks Pipeline expansion Existing gas pipelines Infrastructure To Support Superior Sales Growth Jobo Station Bremen Sincelejo To Medellin 2012 ? 16 MMcf/d • Acquired…
$119 MM well, 8 2019 wells (1) Pre-operative seismic, workover, trailing, social, and other costs # Well Classification 4Q \'18 1Q \'19 Remainder of \'19 1 Nelson-13 Development 2 Palmer-2 Appraisal 3 Nelson-7 Development 4…
Expanding Canacol’s Gas Resource Runway (1) Represents gross mean unrisked prospective resources 9 Recent 30% increase in prospective resources (Source: Gaffney Cline & Associates resource report, effective 12.31.17) Forward plan •…
Nelson-13 Development Well Dec ’18: encountered the thickest gas reservoirs in corporate history Nelson Field A B Top CDO depth structure 500 M Penetration point B A Nelson-13 Nelson-13 10 266 ft TVD of net gas pay from 2…
Palmer-2 Appraisal Well Spud 1Q ’19: build out productive capacity to 230 MMcf/d A B Palmer-2 Penetration point Surface pad location Palmer Field Palmer-1 Drilled Jul ’14 Current production 10 MMcf/d Cumulative production 9…
Nelson-7 spud 1Q ’19 targeting Cienaga de Oro SSJN 7 VIM 5 VIM 19 VIM 21 Esperanza Nelson-7 Nelson-7 Development Well Spud 1Q ’19: build out productive capacity to 230 MMcf/d Geoseismic section along Nelson-7 wellbore trajectory…
Acordeon 1 Exploration Well Spud 1Q/2Q ’19: Multiple follow-up locations in success case Fluid factor section along Acordeon-1 and -3 13 A B SSJN 7 VIM 5 VIM 19 VIM 21 Esperanza Acordeon-1 Acordeon-1 Acordeon-3 A B Chirimia…
Financial Summary Strong projected growth in EBITDA US$ in MM (1) Includes in-the-money options based on CDN $4.37/share price (2) Converted from CDN ? USD exchange rate (0.76) as of 2/6/19 (3) As of 9/30/18 TSX: CNE | BVC: CNE.C…
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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