Colombia

Anticipated strong growth in base production

2018 production guidance:

Forecast realized contractual gas sales which include downtime are anticipated to average between 114 and 129 million standard cubic feet per day. Oil sales are expected to average approximately 1,700 barrels of oil per day.

As of the December 2017 reserve reports, the Corporation had 14 million barrels of net 2P oil reserves and 505 billion cubic feet of net 2P natural gas reserves.

High-impact exploration portfolio that will continue to deliver growth

Canacol has built an exploration portfolio that exposes shareholders to 5 different basins in Colombia and Ecuador across 19 blocks or 3.2 million gross acres. Given Canacol's historical commercial exploration success record of 62%, the Corporation anticipates that the exploration portfolio will continue to deliver solid commercial success for many years to come, yielding continuing growth in production and cash flow.

Acreage position (gross / net) 3.2 million / 2.1 million
E&P contracts 19
2P reserves 8 million barrels of oil and 505 BCF of natural gas as of December 2017.
Please access the Gallery for photos of Canacol's assets in Colombia.

E&P contracts by basin

Asset Oil/
Gas
Type Status Gross
Acres
Net
Acres
Canacol
WI%
Significant Partner Contract
Type
Llanos Basin
1 LLA 23 Oil Conventional Production 115,592 115,592 100% ANH
2 RH Oil Conventional Production 10,238 10,238 100% Ecopetrol Ecopetrol
Total Llanos 125,830 125,830
Lower Magdalena Basin
3 VIM 5 Gas Conventional Exploration 638,502 638,502 100% ANH
4 SSJN-7 Gas Conventional Exploration 670,000 335,000 50% ANH
5 VIM 19 Gas Conventional Exploration 62,075 62,075 100% ANH
6 VIM 21 Gas Conventional Exploration 51,317 51,317 100% ANH
7 Esperanza Gas Conventional Production 33,203 33,203 100% ANH
Total Lower Mag 1,455,097 1,120,097
Magdalena Basin
8 COR 4 Oil Unconventional Exploration 189,576 189,576 100% ANH
9 COR 11 Oil Conventional Exploration 176,915 176,915 70% ANH
10 COR 39 Oil Conventional Exploration 95,111 95,111 100% ANH
11 VMM 3 Oil Unconventional Exploration 83,312 16,662 20% ConocoPhillips (80%) ANH
12 VMM 2 - shallow Oil Conventional Exploration 75,610 30,244 40% Vetra (60%) ANH
12 VMM 2 - deep Oil Unconventional Exploration 75,610 9,829 13% Vetra (87%) ANH
Total Magdelena 620,524 488,094
Caguan-Putumayo Basin
13 Sangretoro Oil Conventional Exploration 385,332 385,332 100% ANH
14 Portofino Oil Conventional Exploration 258,676 103,470 40% Pacific Rubiales (60%) ANH
15 Macaya Oil Conventional Exploration 195,255 73,221 38% Hupecol (50% operator) ANH
16 Serrania Oil Conventional Exploration 110,819 41,557 38% Hupecol (50% operator) ANH
17 Capella field (Ombu) Oil Conventional Production 56,482 5,648 10% Sinochem (90%) ANH
18 Coati Oil Conventional Exploration 61,842 12,368 20% ANH
19 Los Picachos Oil Conventional Exploration 52,772 19,790 38% Hupecol (50% operator) ANH
Total Cag-Put 1,121,178 641,386
Total Colombia 3,322,629 2,377,372

LOWER MAGDALENA BASIN, COLOMBIA
4 basins in Colombia and 1 basin in Ecuador
19 E&P contracts in Colombia and 1 contract in Ecuador