Canacol Energy Tests Trombon-1 Discovery at 26 mmscfpd

Tuesday 18 October 2016

Offsetting the Nispero 1 gas discovery that Canacol announced in late August 2016, the Trombon 1 exploration well was spud on the Esperanza E&P contract on September 13, 2016. The well reached total depth of 10,360 feet measured depth (“ft. md”)in sixteen days. The well encountered 26 ft. md (21feettrue vertical depth) of net gas pay with average porosity of 22% within the primary Cienaga de Oro (“CDO”) reservoir target. The CDO reservoir interval was perforated between 8,328 to 8,354 ft. md and flowed at a final stabilized rate of 26 million cubic feet per day (“MMscfpd”) of dry gas with no water. Trombon 1 tested with a flowing tubing head pressure of 2,254 pounds per square inch over a 36‐ hourtest period. The Corporation finished completion of the Trombon 1 well for permanent production via the Nispero to Jobo flow line. Trombon 1 will tie into the Corporation’s operated Jobo production facility.

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