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Canacol Energy reports test well results

Stockhouse Editorial
0 Comments| May 22, 2013

Canacol Energy (TSX: T.CNE, Stock Forum) Wednesday announced test results for the Labrador 2 well in Colombia and the Secoya 44D well in Ecuador.

The Labrador 2 well tested at a stable gross rate of 1,618 barrels of oil per day (bopd) (1,294 bopd net) before royalty on May 18, 2013, while the Secoya 44D well came on production at a gross rate of 968 bopd (242 bopd net) on May 15, 2013.

The energy producer/explorer added that for the month of April, 2013, average net corporate production before royalties was approximately 7,500 barrels of oil equivalent per day.

"For the period January through to mid May 2013 the corporation has managed to keep production basically flat without the benefit of drilling a single new development well. With the first 2 of our 9 production wells planned for 2013 coming on stream late last week, we anticipate steady and significant production growth throughout the remainder of calendar 2013, starting with the 1,500 bopd that we added late last week to our corporate total from these two wells," said Canacol President and CEO Charle Gamba.   

Tags: OIL & GAS E&P

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