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Canacol Provides October Gas Sales & Share Buyback Information

Source: 11/4/2020, Location: South America

Canacol Energy Ltd. is pleased to provide the following information concerning its October 2020 gas sales and share buyback program.

Gas Sales Average 173 MMscfpd for the Month of October
Realized contractual natural gas sales (which are essentially gas produced, delivered, and paid for) for the month of October averaged approximately 173 million standard cubic feet per day ("MMscfpd"), up from approximately 168 MMscfpd reported during the month of September 2020.

Normal Course Issuer Bid
On September 10, 2020, the Corporation began actively buying its shares back for cancellation under the terms of its TSX approved Normal Course Issuer Bid and Automatic Share Purchase Program, which limits the maximum daily share purchases to 46,189 shares per day as outlined in a December 10, 2019 press release. During the period October 1 - 31, 2020, the Corporation repurchased 762,800 shares at an average price of CAD $3.47 per share.

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