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Canacol Energy Edges Higher After Colombia Update

Canacol Energy Ltd. (CNE.TO) has edged up 1 cent to $1.21 after announcing that it has entered into a binding term sheet, subject to the finalization of definitive Farm-in and Joint Operating Agreements, with C&C Energia Ltd. for the farm-in to a portion of the Operators working interest in the Andaquies and Coati Exploration and Production (E&P) contracts located in the Putumayo basin in Colombia. The Coati and Andaquies E&P contracts are royalty contracts governed under the terms of the Agencia Nacional de Hidrocarboros. C&C Energia Ltd. will continue to function as the Operator of both blocks.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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