IAHL Corporation (IAHL)

[Gators12]

Canacol Energy is ratcheting up exploration at four Colombian natural gas prospects as it seeks to meet rising demand for the fuel from thermoelectric generators.

The program is targeting exploration prospects ... close to the Jobo production facility that can be commercialized very quickly, allowing [us] to build productive capacity to meet the anticipated high demand for gas associated with the upcoming El Niño phenomena," the Calgary-based company said.

Meteorologists have already confirmed the arrival of El Niño in Colombia, a weather phenomenon that could severely reduce the availability of hydroelectric power.

Hydroelectricity accounts for more than two-thirds of Colombia's installed power capacity and in times of drought the country relies on back-up plants fired by gas, coal or liquid fuels.