Canacol Energy Updates on Arbitration Outcome Over Natural Gas Contracts

Canacol Energy Ltd. faces the outcome of an arbitration regarding the termination of natural gas contracts due to breaches by VP Ingenergía, impacting its operations and finances.

• Canacol Energy Ltd. was notified of an arbitration decision from the Bogotá Chamber of Commerce concerning three natural gas supply contracts terminated over VP Ingenergías breaches.
• The arbitral tribunals ruling is crucial as it addresses claims related to force majeure and may affect Canacols financial stability in United States dollar terms.
• The Vice president of VP Ingenergía had previously contested the terminations, leading to this arbitration, which highlights the ongoing tensions in the energy supply sector.