posted by Sarah on .
What is the significance of this and what are the consquences. I don't understand the world of economics. Maybe a little help to get started. Thank you.
Canacol Energy, an oil firm listed in Toronto and Bogota has a goal to increase its output to 35,000 barrels of crude oil per day by the year 2015. This company currently has operations and projects in Colombia, Brazil, and Guyana. They currently produce 5,700 barrels of oil per day and will increase output to 7,000 barrels per day by the end of the year. Canacol has a 10% working interest in the oil-rich Capella field. This is Colombia's largest oil discovery ever in more than twenty five years. About 95% of Canacol's oil production comes from Colombia. Gamba is in Chile introducing Canacol to local investors. Also Chilean, Colombian, and Peruvian stock exchanges integrate to create Latin America's largest stock exchange in terms of companies listed and the second largest by market capitalization. Gamba is looking to expand institutional support and increase the number of cross border investments.