Canacol Energy Ltd. reported unaudited consolidated earnings and production results for the first quarter ended September 30, 2014. For the quarter, the company reported petroleum and natural gas revenues, net of royalties were $58,917,000 against $48,222,000 a year ago. Cash provided by operating activities was $45,618,000 or $0.42 per basic and diluted share against $19,724,000 or $0.23 per basic and diluted share a year ago. Adjusted funds from operations were $36,784,000 or $0.34 per basic and diluted share against $24,278,000 or $0.28 per basic and diluted share a year ago. Net income was $14,110,000 or $0.13 per basic and diluted share against $2,981,000or $0.03 per basic and diluted share a year ago. Capital expenditures, net were $47,522,000 against $17,408,000 a year ago.

For the quarter, the company's petroleum production, before royalties were 9,922 barrels of oil equivalent per day (boepd) compared to 6,110 barrels of oil equivalent per day for the comparable period. Natural gas production, before royalties were 3,334 barrels of oil equivalent per day (boepd) compared to 3,022 barrels of oil equivalent per day for the comparable period.

The company revised its calendar 2014 production guidance downward slightly to 12,500 boepd to 13,000 boepd.