10:27 AM EST, 12/02/2024 (MT Newswires) -- Canacol Energy ( CNNEF ) , a natural gas exploration company focused in Colombia, reported Monday updates on its ongoing exploration and development drilling programs.

Canacol said the Kite-1 exploration well was spud on Nov. 7, reaching a total depth of 9,316 feet measured depth (ft MD). It encountered 102 feet true vertical depth, the company added.

The Nispero-2 well was also spud on Oct. 4 and reached a total depth of 10,915 ft MD.

Canacol said it is currently drilling at the Natilla-2 exploration well and the the Pibe-1 exploration well, with results expected next week.

The company said it is currently mobilizing a drilling rig to spud the Clarinete-11 development well.

Canacol's share price was up modestly at last look to $3.88 on the TSX.

Price: 3.88, Change: +0.02, Percent Change: +0.52