Colombia

E&P contracts by basin

  Asset Oil/
Gas
Type Status Gross
Acres
Net
Acres
Canacol
WI%
Significant
Partner
Contract
Type
Llanos Basin
1 RH Oil Conventional Production 10,238 10,238 100% Ecopetrol Ecopetrol
Total Llanos     10,238 10,238      
Lower Magdalena Basin
2 VIM-5 Gas Conventional Exploration 638,502 638,502 100%   ANH
3 VIM-19 Gas Conventional Exploration 62,075 62,075 100%   ANH
4 VIM-21 Gas Conventional Exploration 51,107 51,107 100%   ANH
5 VIM-33 Gas Conventional Exploration 155,310 155,310 100%   ANH
6 Esperanza Gas Conventional Production 33,203 33,203 100%   ANH
7 SSJN-7 Gas Conventional Exploration 670,226 335,113 50% OGNC (50%) ANH
Total Lower Magdalena Valley     1,610,423 1,275,310      
Middle Magdalena Basin
8 VMM-2  Oil Unconventional Exploration 73,056 14,611 20% ConocoPhillips (80%) ANH
9 VMM-3 Oil Unconventional Exploration 83,311 16,662 20% ConocoPhillips (80%) ANH
10 VMM-45 Gas Conventional Exploration 12,422 12,422 100%   ANH
11 VMM-49 Gas Conventional Exploration 148,244 148,244 100%   ANH
Total Middle Magdelena Valley     317,033 191,939      
Total Colombia     1,937,694 1,477,487      

RESULTS AWARD AUCTION DEC, 2019 - ANH

We have successfully secured a 100% operated working interest in three new conventional gas exploration contracts in the recent bid round (Proceso Permanente de Asignación de Areas Ciclo 2) administered by Colombia's hydrocarbon regulatory authority, the Agencia Nacional de Hidrocarburos.

Canacol was awarded conventional exploration contract VIM 33 (155,310 acres, 62,852 hectares) in the Lower Magdalena Valley basin, and conventional exploration contracts VMM 45 (12,422 acres, 5,027 hectares) and VMM 49 (148,244 acres, 59,992 hectares) in the Middle Magdalena Valley basin. On a net acreage basis, these conventional exploration contracts increase the Corporation's land position for conventional natural gas in Colombia by 29 % from 1.1 mm net acres to 1.4 mm net acres.