PAL Parallel Mining Corp

Canacol Energy Ltd. ("Canacol" or the "Corporation")
(TSX:CNE)(BVC:CNEC)(OTCQX:CNNEF) is pleased to announce that its common shares
have been approved for trading in the United States on the OTCQX International
Premier. This segment of the OTCQX marketplace is reserved for the highest
quality international companies seeking liquidity in the U.S. capital markets. 


Canacol's shares will begin trading today under the symbol CNNEF. The
Corporation will continue to trade on the Toronto Stock Exchange and the
Colombia Stock Exchange under its existing symbols CNE and CNEC, respectively.


Charle Gamba, President and CEO of Canacol, commented "The Corporation is
delivering strong production and reserves growth from its operations in Colombia
and Ecuador, and is participating in a large shale oil exploration program
alongside our partners ConocoPhillips, ExxonMobil, and Shell in Colombia.
Trading on the OTCQX International Premier will create greater visibility with
U.S investors and facilitate the Company's opportunity in the global capital
markets.  The new listing will complement our presence on the Toronto Stock
Exchange and the Colombia Stock Exchange while facilitating and enhancing global
trading in Canacol's common shares, especially in the US market."


Trading on the OTCQX International Premier does not involve the issuance of new
common shares of the Corporation or any other securities or derivatives. The
common shares of the Corporation that are currently issued and outstanding, and
trading on the Toronto Stock Exchange, can be traded through the Colombia Stock
Exchange and the OTCQX International Premier.


Merriman Capital Inc. is serving as the Corporation's Principal American Liaison
("PAL") on OTCQX International Premier, and will be responsible for providing
guidance on OTCQX requirements.


OTCQX is the largest market for international companies, representing more than
330 companies with an aggregate market capitalization of $1.7 trillion. The
OTCQX International Premier is an elite segment of the OTCQX marketplace,
designated for the highest quality international companies seeking a U.S.
listing. These companies include Adidas, Canadian Oil Sands, Gazprom, Repsol,
Volkswagen, Wal-Mart Mexico, and Yamaha


Canacol Energy Ltd. is an oil and gas exploration and production company with
operations focused in Colombia and Ecuador. The Corporation has interests in 25
exploration and production contracts representing 1.6 million net acres. The
portfolio is well diversified, from proven oil and gas producing assets to a
large exploration drilling inventory of conventional and unconventional
prospective oil and gas resource. Canacol's world-class operating partners
include ConocoPhillips, ExxonMobil, Pacific Rubiales, Shell, and Sinochem.
Public information can be found at the Corporation's website
www.canacolenergy.com and the Corporation's public filings at www.sedar.com.


This press release contains certain forward-looking statements within the
meaning of applicable securities law.  Forward-looking statements are frequently
characterized by words such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate" and other similar words, or statements that certain
events or conditions "may" or "will" occur, including without limitation
statements relating to estimated production rates from the Corporation's
properties and intended work programs, and timing for completion of the
transaction and anticipated benefits results from the transaction described in
this press release. Forward-looking statements are based on the opinions and
estimates of management at the date the statements are made and are subject to a
variety of risks and uncertainties and other factors that could cause actual
events or results to differ materially from those projected in the
forward-looking statements.  The Corporation cannot assure that actual results
will be consistent with these forward looking statements.  They are made as of
the date hereof and are subject to change and the Corporation assumes no
obligation to revise or update them to reflect new circumstances, except as
required by law.  Prospective investors should not place undue reliance on
forward looking statements. These factors include the inherent risks involved in
the exploration for and development of crude oil and natural gas properties, the
uncertainties involved in interpreting drilling results and other geological and
geophysical data, fluctuating energy prices, the possibility of cost overruns or
unanticipated costs or delays and other uncertainties associated with the oil
and gas industry.  Other risk factors could include risks associated with
negotiating with foreign governments as well as country risk associated with
conducting international activities, and other factors, many of which are beyond
the control of the Corporation.  


Forward-looking information is based on current expectations, estimates and
projections that involve a number of risks and uncertainties, which could cause
actual results to differ materially from those anticipated by Canacol and
described in the forward-looking information. The material risk factors
affecting Canacol and its business are contained in Canacol's Annual Information
Form, which is available under Canacol's issuer profile on Sedar
(www.sedar.com).


The forward-looking information contained in this press release is made as of
the date hereof and Canacol undertakes no obligation to update publicly or
revise any forward-looking information, whether as a result of new information,
future events or otherwise, unless required by applicable securities laws. The
forward-looking information contained in this press release is expressly
qualified by this cautionary statement.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Canacol Energy Ltd.
Investor Relations
888.352.0555
info@canacolenergy.com
www.canacolenergy.com

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