2009-06-10-2009-05-15-2009-10-27

Acquired 23% addtl WI in Guyana PPL in Takutu Basin.

Canacol Energy Ltd., Calgary, has acquired additional working interest in the Takutu Basin petroleum prospecting license in Guyana from Groundstar Resources Ltd., Calgary, (Toronto Venture: GSA) for US$ 3.45 million in cash. Canacol acquired an additional 35% working interest, increasing its net working interest in the PPL to 90%. Groundstar's net interest is 10% which will be carried by Canacol to first commercial production. Groundstar will remain operator of the PPL through to completion of the first exploratory well.