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BRIEF-Canacol Energy negotiates new gas sales contracts, initiates private gas pipeline, and forecasts 130 mmscfpd of gas production exiting 2017 and 230 mmscfpd of gas production exiting 2018

Nov 23 Canacol Energy Ltd :

* Canacol Energy Ltd. negotiates new gas sales contracts, initiates private gas pipeline, and forecasts 130 mmscfpd of gas production exiting 2017 and 230 mmscfpd of gas production exiting 2018

* Canacol Energy Ltd - planning to increase current gas sales from 90 mmscpf to 130 mmscfpd in December 2017, and to 230 mmscfpd in December 2018

* Canacol Energy - new gas sales contract all commence in dec 2018, have a term of between 5 and 10 years, and are with large, established offtakers

* Canacol Energy - co negotiated 4 new take or pay gas sales contracts of 100 mmscfpd with existing & new customers located in Cartagena and Baranquilla

* Canacol Energy-special purpose vehicle anticipated to raise about US$50 million in a combination of equity and debt, outside of Canacol

* SPV's new private pipeline will consist of approximately 80 kilometers of flowlines and two compression stations Source text for Eikon: Further company coverage:

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