For those of you who would like to take advantage of our Luck O' the Irish SALE but prefer not to make payments online, you are welcome to send us a check or money order in the amount of $114.12 for a 3-year AD-FREE Premium Service Bundle or $190.20 for a 5-year Bundle. Make checks or money orders payable in US funds to "Investor Village" and send to: Investor Village, P.O. Box 2958, Marrero, LA 70073.
As many of you know, we operate on the honor system around here. So, in closing out our Luck O' the Irish SALE, we wanted to advise those of you who plan to pay by check or money order that you can send a PM to Admin informing us of your intention. We will then upgrade your account for 7 days, allowing you to enjoy our ad-free premium service now and giving you a reasonable amount of time to get your payment in.
CALGARY, Alberta, March 07, 2018 (GLOBE NEWSWIRE) -- Further to its news release dated December 19, 2017, Canacol Energy Ltd. ("Canacol" or the "Corporation") (TSX:CNE) (OTCQX:CNNEF) (BVC:CNEC) is pleased to announce that it has closed on the sale of its 25% interest in Servicios Libertador S.L., the holding company of Pardaliservices S.A., which is the joint venture company that operates the 15-year incremental production contract awarded by the national oil company of Ecuador for the Libertador and Atacapi mature fields in Northern Ecuador. Canacol has received US $30.4 million of the US $36.4 million purchase price, with the final US $6 million scheduled for payment in June 2019 per the sales agreement. Additionally, as part of the transaction, Canacol also received a reimbursement of US $5.58 million in respect of a cash call it paid to the joint venture in late 2017.
Also, as recently announced, Canacol has collected all US $30.5 million of investment from the group of private investors relating to the Sabanas flowline. The Corporation currently has approximately US $74 million of cash, along with US $13 million of restricted cash, and remains well funded as it moves toward its goal of 230 million standard cubic feet of gas per day (“MMSCFPD”) of natural gas production exiting 2018, via the new Promigas SA pipeline expansion.