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The Globe and Mail

Canacol vice-president buys as driller boosts capital plans

On Feb. 15, Canacol Energy Ltd. vice-president Anthony Zaidi bought one million shares in the public market between the prices of 88 cents and 89 cents. He now holds 4,307,816 shares. Canacol's original plans for the calendar year included drilling 16 net wells with a high weighting of the work taking place in the Colombian Caguan and Llanos basins. The capital budget was originally set for $150-million, but has since been boosted by $10-million following a contract win earlier this month in Ecuador.

Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.

Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.

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