Colombia’s largest independent natural gas producer Targeting 65% increase in production to 215 MMcf/d by mid-Jul ‘19 Current potential to produce up to 330 MMcf/d with existing wells/facilities Contract for new 100 MMcf/d pipeline to…
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 • Country´s gas…
Colombia’s Natural Gas Supply Deficit Strong gas demand on Colombia’s Caribbean Coast • Demand ~450 MMcf/d increasing 3% / yr.(3) Terminal decline in Caribbean gas supply • For 30+ yrs., Chevron provided ~50% of gas supply • Times…
Discovered 481 BCF Since Inception 78 114 365 409 505 559 \'13 \'14 \'15 \'16 \'17 \'18 In BCF 2P reserves in BCF +11% History of Canacol’s 2P reserves +232% 2P reserves replacement ratio • 2P reserves increased 11% to 559 BCF…
Canacol’s Growth (1) As of 1Q 2019. Represents realized gas contracts, net of transportation costs (2) As of 1Q 2019 6 76 85 106 112 115 119 122 130 179 215 325 Sep \'17 Dec \'17 Mar \'18 Jun \'18 Sep \'18 Dec \'18 Mar \'19…
Infrastructure To Support Superior Gas Sales Growth Jobo Station Bremen Sincelejo To Medellin Caribbean Sea 16 70 81 113 179 325 \'12 \'16 \'17 \'18 \'19e \'22e 215 Average annualized natural gas sales Jul ‘19e ‘12 Acquired…
2019 Capital Plan $119 MM 2019 focus (1) Pre-operative seismic, workover, trailing, social, and other costs 3D seismic $16 Other $23 Facilities expansion & equipment $30 6 exploration & appraisal + 2 development wells $50…
Expanding Canacol’s Gas Resource Runway Canacol-gas \'12 - \'13 \'14 - \'16 \'17 - \'18 CAGR Blocks 2 4 5 14% Net acres (in 000s) 85 725 1,100 44% Gross resources (in TCF)(1) 0.1 2.0 2.6 59% Prospects & leads 7 44 140 49% History of…
June ‘19: Acordeon 1 Exploration Well Flow Tests 33 MMcf/d Ocarina 1 spud on June 11 SSJN 7 VIM 5 VIM 19 VIM 21 Esperanza Acordeon 1 Ocarina 1 1 KM Acordeon 1 Ocarina 1 LCC: -7675’ TVDSS Top gas-sand depth structure map…
Forward Plan Leasehold Map 2019 8 wells • 3 wins (Palmer-2, Nelson-7, Acordeon-1) • 5 remaining wells 2019-2021 Acquire 3D seismic • VIM 5, VIM 19, SSJN 7 2020+ Exploratory drilling on new 3D seismic Forward Plan Promigas lines…
Drill Pandereta Appraisal Well In in 3Q ‘19 Pandereta-5 • Depth 10,900 ft. MD • D&A cost $3.8 MM • Tie-in to Jobo plant via new Pandereta-Jobo 8” flow line Well objective: Investigate presence of gas charged reservoir sandstones…
Drill Porro Norte-1 Exploration Well in 4Q ‘19 Well objective: Investigate presence of gas charged reservoir limestones and sandstones supported by AVO methodology Porro Norte-1 • Four way faulted anticline defined on 2D seismic •…
US $ in MM, except CDN $/share TSX $/share (7/4/19) CDN $4.40 Fully diluted shares outstanding(1) 179 Market capitalization(2) $ 596 Net debt(3) $ 343 Enterprise value $ 939 Insider ownership 22% Capital structure As of 3/31/2019…
TSX-Approved Normal Course Issuer Bid TSX: CNE | BVC: CNE.C BB- B1 • The Corporation believes its market price does not reflect its underlying value 15 Shares authorized to repurchase up to 14.1 MM % of public float 10% Max share…
Outlook June Promigas pipeline expansion • +80 MMcf/d of new transportation capacity • ? gas sales to ~215 MMcf/d Execute drilling program throughout 2019 • Drilling Ocarina-1 • Potential significant reserve add Execute definitive…
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