Canacol acquires Colombia shale blocks

The Calgary-based explorer has acquired the right to an 80%interest in the COR 4 and COR 12 exploration and production contracts.

Chief executive Charle Gamba said the acquisition hadexpanded the explorer’s shale portfolio to more than half a million acres, “givingCanacol the second largest shale position in Colombia after Ecopetrol”.

Both blocks are adjacent to Canacol Energy’s COR 39 and COR 11E&P contracts and the Canadian explorer believes they are prospective for both shallow conventional oil in Guadalupe sandstones as well as deeper shale oiltargets in the thick Cretaceous Villeta - La Luna shale.

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