BRIEF-Canacol Energy provides production and operations update

Tue Jul 12, 2016 8:26am EDT
 
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July 12 (Reuters) - Canacol Energy Ltd

* Provides production and operations update: average cash sales of 19,521 boepd for the months of May and June 2016

* Estimates that average net before royalty oil and gas sales for 2016 will range between 16,000 and 17,000 boepd

* Estimates that average net before royalty oil and gas sales for 2016 will range between 16,000 and 17,000 boepd

* Corporation plans to spud Nispero 1 exploration well during week of July 18, 2016.

* Total realized contractual gas sales and oil sales are anticipated to total between 18,500 and 19,000 boepd from May 1 until year end

* Canacol anticipates Colombian oil production to average approximately 2,300 bopd, ecuador oil production of about 1,300 bopd in 2016

* To make no significant investments in drilling of oil production and exploration portfolios until pricing stabilizes

* Total corporate ebitdax is anticipated to be approximately $ 135 million for calendar 2016

* Estimates that average net before royalty oil and gas sales for 2016 will range between 16,000 and 17,000 boepd Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)