Canacol Energy Reports $150 Million Capital Program

Canacol Energy Ltd. (TSX:CNE) reported its 2012 capital program of $150 million for exploration and development in Colombia, Brazil, and Guyana.

As quoted in the press release:

The budget includes the drilling of 40 gross wells (16 net wells), which consists of 26 gross development wells and 14 gross exploration wells.

Canacol Energy’s President and CEO, Charle Gamba stated:

We expect to exit this year with approximately 14,000 net bopd and within our production guidance of 10,500 and 11,500 net average bopd for 2011.

Click here to read the Canacol Energy Ltd. (TSX:CNE) press release.