Colombia Stock Exchange Welcomes Canacol Energy, July 22, 2010

Canacol Energy is an international oil production and exploration company with operations located onshore in Colombia, Guyana, and Brazil.  Canacol has interests in 25 exploration and production contracts that consist of a stable set of proven oil producing assets and a very large exploration inventory of conventional oil prospects.  From its inception in 2008, the Corporation has assembled an exploration portfolio that exposes shareholders to over 9 billion barrels of  net unrisked conventional oil in place.  The Corporation has made two significant conventional oil discoveries in Colombia to date, the Capella heavy oil discovery in 2008, and the Rancho Hermoso new pool discovery in 2009.  The Capella discovery, currently under appraisal by the Corporation and its partner, ranks as the largest oil discovery made in Colombia in over 25 years.

Canacol's strategy is to drill up its low risk producing assets in Colombia to increase production and cash flow, and to execute a significant conventional oil exploration program between 2010 and 2012 to test over 9 billion barrels of net unrisked conventional oil in place.  Canacol is a qualified operator in both Colombia and Brazil, which enables the Corporation to participate as operator in regularly scheduled exploration and marginal field bid rounds, and directly negotiate exploration contracts with government entities.

The Corporation's common stock trades on the TSX Venture Exchange and the Colombia Stock Exchange under ticker symbol CNE and CNEC, respectively.