An anonymous director reports

CANACOL ENERGY LTD. PROVIDES GAS SALES AND DRILLING UPDATE

Canacol Energy Ltd. has provided an update on gas sales and drilling operations.

December gas sales of 160 MMscfpd (million standard cubic feet per day)

Realized contractual natural gas sales (which are gas produced, delivered and paid for) averaged 166 MMscfpd for the period of Dec. 1 to Dec. 20. Beginning Dec. 21, 2023, the corporation performed two scheduled routine maintenance procedures on its Jobo processing plant, which interrupted production levels until Jan. 2, 2024, a period where gas demand is typically low due to the holidays. As such, December realized contractual natural sales averaged 160 MMscfpd.

Near-term drilling program

The corporation anticipates spudding the Clarinete 10 development well by the third week of January, 2024, and anticipates that it will take approximately three weeks to drill and tie into permanent production.

About Canacol Energy Ltd.

Canacol is a natural gas exploration and production company with operations focused in Colombia.

We seek Safe Harbor.