Canacol Energy Ltd. has announced the discovery of natural gas at the Chontaduro 1 well, located onshore in Colombia. The exploration well, part of the company’s VIM21 Exploration and Production contract, was initiated on April 2, 2024, reaching a depth of 9,625 feet on April 8, 2024.

The well revealed a substantial gas reservoir within the Cienaga de Oro sandstone, with a true vertical depth of 123 feet of net gas pay and an average porosity of 21%. The gas pay was encountered over a 279 feet measured depth interval and has been connected to the Jobo gas treatment facility for processing.

Initial testing showed a production rate of 5 million cubic feet per day (MMcfd), which was subsequently increased in steps to 12 MMcfd, maintaining a stable well pressure of 2260 psi.

Following this discovery, Canacol Energy is preparing to move the drilling rig to commence the Chontaduro 2 appraisal well. This next phase aims to further assess the potential of the Cienaga de Oro reservoir in the southern extents of the Chontaduro discovery. Drilling of Chontaduro 2 is scheduled to start on April 18, 2024, and is expected to take approximately three weeks to complete.

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