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Canacol Energy Ltd
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April 2024 Corporate Presentation
| Charle Gamba | Page 10 of 11 |
May 02, 2024
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"April 2024 Corporate Presentation"
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2023 Investor Presentation 11 Continue Utilizing Best-in-Class Technology and Expertise to De-Risk Large Resource Potential Large resource base Positioned for Growth • Conveyor belt strategy to steadily drill 178 individual prospects and leads to target conversion of resources to reserves with high capital efficiency • Proved producing Tertiary Clastic Reservoirs in the Lower Magdalena Basin & exciting new play potential in Cretaceous Reservoirs in the Middle Magdalena Basin 1. Gross prospective resources for conventional natural gas report prepared by Boury Global Energy Consultants (BGEC), effective Dec 31, 2021. 2. Track record reflects gas drilling success over period 2014 through 2023. Gross Prospective Resources (Bcf) 1 Unrisked Risked Prospects / Leads Low P90 Best P50 Mean High P10 Mean Tertiary Clastic Reservoirs in LMV & MMV 160 2,533 3,098 3,221 4,012 986 Cretaceous Reservoirs in MMV 18 12,278 16,618 17,304 23,080 6,590 Aggregation Total 178 15,414 19,870 20,525 26,380 7,576 Of which: Pola-1 Prospect 1 579 1,057 1,161 1,890 470 Land (Gas): Blocks: 11 Net Acres: 1.8MM Mean Prospective Resources: Un-risked: 20.5 TCF Risked: 7.6 TCF Track record 2 Exploration/appraisal wells 35/43 (81%) Development wells 30/32 (94%) Total wells 65/75 (87%)