August 9, 2017 / 8:48 PM / 2 months ago

BRIEF-Canacol Energy enters into Sabanas Gas flowline agreement

Aug 9 (Reuters) - Canacol Energy Ltd

* Canacol Energy Ltd enters into Sabanas Gas flowline agreement

* Canacol Energy Ltd - ‍Canacol’s financial contribution to project will be almost entirely satisfied by costs incurred to date​

* Canacol Energy - $41 million Sabanas Gas flowline project will be financed through $30.5 million investment by group of private investors, $10.5 million from Canacol​

* Canacol Energy Ltd - ‍canacol’s financial contribution to project will not involve issuance of new equity or affect its current cash position​

* Canacol Energy Ltd - ‍two members of co’s board have participated in private investor financing for an aggregate amount of US $9.0 million​

* Canacol Energy Ltd ltd - has option to divest up to an additional US$3 million of its share of project, thus lowering its investment to about US$7.5 million Source text for Eikon: Further company coverage:

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