Page 14 - LatAmOil Week 36 2021

LatAmOil NEWS IN BRIEF LatAmOil

COMPANIES

Challenger Energy awarded

STOW-TT certification

Challenger Energy, the Caribbean and Atlan-
tic margin focused oil and gas company, with
production, appraisal, development, and explo-
ration assets across the region, has advised that
it has been awarded STOW-TT certification in
Trinidad and Tobago.
STOW-TT stands for “Safe to Work in Trin-
idad & Tobago.” STOW certification provides
a standardised HSE requirement and an inde-
pendent system for certifying operators and
contractors with respect to Health, Safety and
Environmental requirements. Heritage Petro-
leum Company Limited is a signatory of the
STOW Charter and requires all contractors/
operators conducting work on their behalf to
become STOW certified.
Following an extensive programme of work gas produced, delivered, and paid for) were 186 About Canacol: Canacol is a natural gas
and preparation over the last 12 months, the mcf (5.267 mcm) per day for August 2021. exploration and production company with
Company has been awarded a two-year certi- Aguas Vivas 3 appraisal well encountered 378 operations focused in Colombia. The Corpora-
fication effective August 5, 2021, the maximum feet (115.2 metres) true vertical depth of net gas tion’s common stock trades on the Toronto Stock
time achievable under STOW rules. pay:The Aguas Vivas 3 appraisal well was spud Exchange, the OTCQX in the United States of
CEO Eytan Uliel commented: “An essential on August 11, 2021 and reached a total depth America, and the Colombia Stock Exchange
part of the social licence to operate in Trinidad of 8,000 feet (2,440 metres) measured depth under ticker symbol CNE, CNNEF, and CNE.C,
and Tobago is to achieve STOW accreditation, on August 17, 2021. The well encountered 378 respectively.
which demonstrates an operator’s commitment feet (115.2 metres) true vertical depth (TVD) Canacol Energy, September 2 2021
to its people, vendors, contractors, regulatory of net gas pay with an average porosity of 22%
authorities, and the local communities in which within the Cienega de Oro (CDO) sandstone Canacol Energy announces
it operates. When we took over operating of reservoir, the primary target. The Aguas Vivas 2
our assets in Trinidad in August 2020, we noted and 3 appraisal results confirm a significant gas execution of strategic long
that the prior operators had never successfully accumulation at Aguas Vivas. The Corporation
achieved STOW certification, and we deter- will now integrate these drilling results with the term take or pay gas sales
mined to do so as a matter of priority. We are existing 3D seismic to better define the extent
thus enormously proud of this achievement, of the accumulation at Aguas Vivas and define contract with EPM
which represents the culmination of more than additional development locations for future
12 months of work by our in-country team, drilling. Canacol Energy is pleased to announce the exe-
and provides strong validation for our commit- Upon the completion and tie in to production cution of a new long term take or pay gas sales
ment to and operating presence in Trinidad and of the Aguas Vivas 3 well, the Corporation will contract with Empresas Publicas de Medellin
Tobago.” mobilise the rig to drill the San Marcos explora- ESP (EPM), and provides an update on the pipe-
Challenger Energy, September 6 2021 tion well, which will target gas within the CDO line project associated with the sales contract.
sandstone reservoir. The Corporation antici- Charle Gamba, President and CEO of Cana-
pates that the well will take approximately four col, commented: “The sales contract we signed
UPSTREAM weeks to drill and complete. with EPM marks a strategic step in growing
Normal course issuer bid: On May 25, 2021, Canacol´s gas sales and diversifying our client
Canacol Energy publishes the Corporation began actively buying its base via a new pipeline that will connect our gas
shares back for cancellation under the terms of fields to the interior sales market of Colombia.
gas sales and appraisal its Toronto Stock Exchange-approved normal This project marks our entry into this large gas
course issuer bid and automatic share purchase demand market, which accounts for approxi-
results for Aguas Vivas 3 programme, which limits the maximum daily mately 60% of Colombia´s growing natural gas
share purchases to 60,132 shares per day as demand.
Canacol Energy is pleased to provide the fol- outlined in a December 21, 2020, press release. “The new pipeline will allow Canacol to sell
lowing information concerning its August 2021 During the period August 1 to August 31, 2021, up to 100mn cubic feet [2.8mn cubic metres] per
natural gas sales, drilling programme, and share the Corporation repurchased 713,700 shares at day into the interior market, with an option to
buy-back. an average price of $3.10 per share. Since May expand the pipeline transportation capacity to
Gas sales averaged 186mn cubic feet 25 2021 the Corporation has repurchased a total 200 mcf [5.7mcm] per day, thus making Canacol
(5.267mn cubic metres) per day for August 2021: of 2.7737mn shares at an average price of $3.26 an important supplier of gas to both the Carib-
Realised contractual natural gas sales (which are per share. bean coast and interior markets of Colombia.

P14 www. NEWSBASE .com Week 36 09•September•2021