C&C Energia Ltd.

November 26, 2010 08:39 ET

C&C Energia Provides Information Regarding Production Disruptions

CALGARY, ALBERTA--(Marketwire - Nov. 26, 2010) - C&C Energia Ltd. ("C&C Energia" or the "Corporation") (TSX:CZE) announces that the Corporation's operations and production on its Cravoviejo and Cachicamo blocks in the Department of Casanare, Colombia are currently suspended due to local civil disturbances and road blockades. Drilling and service rigs have been shut down and approximately 7,000 bopd of oil production has been shut-in.

On November 18, 2010, the local communities in the surrounding areas of Tilodirán, Quebrada Seca and Algarrobo initiated a protest and blocked key roads, including the Yopal to El Algarrobo road that is used to support oil and gas operations for various oil producers in the area. The C&C Energia operated and non-operated fields of Cravoviejo and Cachicamo, respectively, have been impacted as a result of the blockades. No sales of produced volumes have occurred since November 19 and production was shut-in as of November 20, once oil storage facilities reached maximum capacity levels.

As of November 25th the blockades in the Tilodirán and Quebrada Seca communities have been removed however blockades still remain in the Algarrobo area impeding any resumption of C&C Energia production.

In a press release issued by the Department of Casanare; the Municipality of Yopal under the Security Council, confirmed the involvement of several agencies who are working towards resolving the situation, including the departments of administrative authorities, departmental and municipal police, national army, the Security Administration Department, ("DAS"), as well as the prosecutor's office and the Office of the Ombudsman.

As part of the continuing efforts to reach resolution, the Ministry of the Interior has set up meetings with the communities, industry and government agencies for November 26 and 28.


This press release contains forward-looking information within the meaning of applicable Canadian securities laws that involves known and unknown risks and uncertainties. In particular, this press release contains forward-looking information regarding the potential resolution of the road blockades and the intentions of various parties and governmental authorities in Colombia The Corporation cautions readers to not place undue reliance on forward-looking information as by its nature, it is based on current expectations regarding future events that involve a number of assumptions, inherent risks and uncertainties, which could cause actual results to differ materially from those anticipated by C&C Energia.

Forward-looking information involves significant known and unknown risks and uncertainties. A number of factors could cause actual results to differ materially from those anticipated by C&C Energia The forward-looking information included in this news release is expressly qualified in its entirety by this cautionary statement. The forward-looking information included herein is made as of the date hereof and C&C Energia assumes no obligation to update or revise any forward-looking information to reflect new events or circumstances, except as required by law.

Contact Information

  • C&C Energia Ltd.
    Richard A. Walls
    President and Chief Executive Officer
    C&C Energia Ltd.
    Ken Hillier
    Chief Financial Officer