C&C Energia's management views the Proposed Arrangement as beneficial for C&C Energia and its shareholders. "This transaction not only crystalizes the value of the producing assets that we have developed over the last five years at very attractive metrics, but also retains our shareholders' exposure to some exciting high potential exploration opportunities" said Randy McLeod, President and CEO of C&C Energia. "We plan to move forward with our existing drilling plans for 2013 and the new company's balance sheet remains strong enough to be opportunistic in capturing additional exploration and production assets. In addition, C&C Energia's shareholders, through their ownership in Pacific Rubiales, will have access to a larger exploration and production portfolio and increased share liquidity."CANACOL ENERGY BUYOUT TARGET, AS C & ENERGIAIS BOUGHT BY PACIFIC RUBIALES a Partner of Canacol Energy in Heavy Oil Basin!.....

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