Colombia’s Largest Independent Natural Gas Producer 3 Conventional Natural Gas In Colombia 1. Focused • Conventional natural gas pure play focused in Colombia 2. Leader • Largest supplier to the Caribbean Coast and largest…
Canacol’s Special Natural Gas Operating Model 4 Canacol’s supply ~25% of Colombia gas Country gas demand ~ 1 BCF / +2-3% per yr. Gas supply, x-Canacol Declining ~12% / yr. Market Leader The largest independent natural gas producer…
Special Opportunity In Solving Colombia’s Natural Gas Supply Deficit Bogota Medellin Cartagena Barranquilla Caribbean Sea Hocol Frontera Chevron fields 60 km Canacol gas blocks Promigas line expansion Existing gas pipelines…
Average annualized natural gas sales In MMcf/d ‘12 Acquired Shona Energy • 80 km pipeline ? Cerromatoso nickel mine ‘16 Promigas-funded 190 km pipeline ‘17 Private-funded 82 km line Jobo ? Bremen • Aug ‘19 Promigas-funded 85 km line…
2019 Capital Plan $119 MM (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 (1) 8 $ in…
Industry-Leading Exploration Success Utilizing AVO 1 KM Uncalibrated 3D Calibrated 3D for AVO analysis Arandala-1 Carambolo-1 AVO extraction over Porquero formation Includes pay in ft. TVD Discovery Prospect Nuez-1 Datil-1…
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…
2019 7 wells & 3D seismic • 5 wins (Palmer-2, Nelson-7, Acordeon-1, Ocarina-1, Clarinete-4) • 1 remaining well (Arandala-1) • 155 km2 Guacharaca 3D acquisition complete 2019-2021 Acquire 3D seismic • VIM 5, VIM 19, SSJN 7 2020+…
2Q ‘19 Financial Highlights Key data Revenues $47.7 MM EBITDAX $36.8 MM +9% y/y 77% margin Funds from operations $25.6 MM Working capital surplus $47.1 MM Cash $28.7 MM 26% reduction in OPEX From $0.42 ? $0.31 / Mcf(2) 20%…
Canacol’s Financial Policy Return-focused, LT value from free cash flow • Debt reduction • Potential future dividend • Up to 14.1 MM share buyback in place Conservative financial profile • < 2.5x consolidated leverage ratio –…
US $ in MM, except CDN $/share TSX $/share (10/11/19) CDN $4.35 FD shares outstanding(1) 179 Market capitalization(2) $ 591 Net debt(3) $ 345 Enterprise value $ 936 Insider ownership 22% (1) Includes in-the-money options based on…
Natural Gas Is The Future • Natural gas is a clean, efficient and competitive energy source. Its use helps to improve air quality in cities and reduce greenhouse gas emissions. • Natural gas will lead Colombia\'s development of…
Well objective: Supported by AVO methodology, investigate presence of gas-charged reservoir sandstones in the Porquero Formation 16 Arandala-1 • Adjacent fault block to Breva-1 discovery • 3 km tie-back to Betania sub station •…
APPENDIX Managing Risks 17 Macro Risks 1. Geopolitical • Market/sector-friendly Colombia President for the next 3 yrs. 2. Regulatory • South America’s most stable democracy and regulatory framework 3. Commodity • Near zero…
APPENDIX Corporate Social Responsibility 14 Fundación Entretejiendo is born from our interest to improve the life quality of the communities in our areas of influence Projects ‘18-’19 Investment US$3.1MM 44%CNE 56% Allied 1 Gas…
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