CANACOL ENERGY LTD TO COMMENCE TRADING ON THE COLOMBIAN STOCK EXCHANGE ON THURSDAY JULY 22

Canacol Energy Ltd. ("Canacol" or the "Corporation") (TSX VENTURE:CNE) is pleased to announce that it has received approval from the Bolsa de Valores de Colombia ("BVC") to be listed on the Colombian Stock Exchange commencing July 22, 2010. The Corporation will be listed under the symbol CNEC at an initial price in Colombian pesos equal to that of the Corporation's share price in Canadian dollars on the TSXV upon close on July 21, 2010. This dual listing enables the Corporation to expand its institutional and retail shareholder base into Colombia where it has the majority of its operations and where capital markets are rapidly growing.

Charle Gamba, President and CEO of the Corporation, comments "The listing in Bogota gives institutional and retail Colombian investors the ability to purchase shares of Canacol through the facilities of the BVC, allowing them to participate directly in the growth of the Corporation. The listing will enhance Canacol's presence in Colombia, become an important source of liquidity for the shares of the Corporation, and Colombia could become a future source of capital for the continued expansion of activities both inside and outside of the country."