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Canacol Energy Ltd (Alberta)
Suite 2000, 215-Calgary9 Ave, SW
Phone: (403) 561-1648p:403 561-1648 CALGARY, AB  T2P 1K3  Canada Ticker: CNECNE
Filed for Protection from its Creditors under the Companies' Creditors Arrangement Act (Canada) on 11/18/2025
On 11/18/2025, the Court of King's Bench of Alberta (the "Court") issued an Order pursuant to the Companies' Creditors Arrangement Act ("CCAA") providing Protection from their Creditors for Canacol Energy Ltd. and its subsidiaries 2654044 Alberta Ltd., Canacol Energy ULC, 2498003 Alberta ULC, Cantana Energy GmbH, CNE Oil & Gas S.R.L., Canacol Energy Colombia S.A.S., Shona Holding GmbH, CNE Energy S.A.S., and CNE Oil & Gas S.A.S. The Court appointed KPMG Inc. as the CCAA Monitor of the Applicants.
Concurrent with its CCAA filing, Canacol Energy Ltd filed a Chapter 15 Bankruptcy Petition (case #25-12572) on 11/18/2025 in the U.S. Bankruptcy Court for the Southern District of New York (Manhattan) to gain the recognition and protection of the US Court for its foreign proceedings.
Business Summary
Canacol Energy Ltd. is a natural gas exploration and production company producing approximately 17% of the country’s domestic natural gas supply. The Company and its subsidiaries are primarily engaged in natural gas exploration and development activities in Colombia. The Company’s production primarily consists of natural gas from the Esperanza, VIM-5, VIM-21 and VIM-33 blocks located in the Lower Magdalena Valley basin in Colombia. Its production also included crude oil from its Rancho Hermoso block in Colombia (Colombia oil). Its gas fields are produced from the Cienaga de Oro and Porquero reservoirs that are connected to its central Jobo gas processing and treatment facility through more than 169 kilometers of flow lines, mainly flexible steel flow lines. It has three gas processing and treatment facilities. It operates over 1.9 million net acres in 10 exploration and production gas contracts in Colombia, located in the Lower & Middle Magdalena Basins.

Scores and Ratings
FRISK®
Score		 Z''
Score		 PAYCE®
Score		 DBT
Index		 Moody's
Rating		 Fitch
Rating		 DBRS
Rating
YesYes-YesYes--

Financials, News and Filings
Latest
Statement		 Last
Audit
News		 SEC
Filings		 Bankruptcy
Filings		 Suit &
Judgment
Filings		 Tax
Lien
Filings
9/30/202512/31/2024Yes-Yes--

Industries
SIC Code Description
1311 Crude petroleum and natural gas

Officers and Directors

Title
Name
Age		 Title
Date		 Start
Date
Non-Executive Independent Chairman of the Board Michael J.Hibberd 69 1/1/2021 10/30/2008
President, Chief Executive Officer, Director CharleGamba 60 10/30/2008 10/30/2008
Chief Financial Officer JasonBednar 4/29/2016 10/30/2008
9 additional Officers and Directors records available in full report.

Subsidiaries
Business Name Address City State/Province Country
CNE Oil & Gas S.A.S. C11 113 No. 7-45 Bogota Colombia
CNE Oil & Gas S.R.L. Punta Pacifica, Edificio PH Oceania Business Plaza Ciudad de Panama Panama
Shona Holding GmbH Pilatusstrasse 41 Luzern Switzerland
5 additional Subsidiary records available in full report.

Business Names
Business Name
2498003 Alberta ULC
2654044 Alberta Ltd.,
3B6A
20 additional Business Names available in full report.

General Information
Number of Employees: 423 (As of 12/31/2024)
Outstanding Shares: 34,120,000 (As of 9/30/2025)
Stock Exchange: TSE


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Saturday, December 6, 2025