12/2/2024 - 10:25 AM EST - Canacol Energy Ltd. : Provide the following update concerning its ongoing exploration and development drilling programs. The Kite-1 exploration well was spud on November 7 and reached a total depth of 9,316 feet measured depth. The well is located midway between the producing Palmer and Pomelo gas fields. The well encountered 102 feet true vertical depth of gross gas column within the CDO. The CDO was perforated across three zones located between 6,517 and 6,619 ft TVD and was flow tested for 24 hours with six million standard cubic feet per day for 12 hours with an average tubing head pressure of 2247 psi, eight MMscfpd for six hours with an average THP of 2200 psi and finally 10 MMscfpd for another six hours with an average THP of 2166 psi. Canacol Energy Ltd.
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