Reading between the lines...
Those contract really have a material impact on CNE. If you go read the last reserve report's assumption, you'll see that all Gas reserve of Non-nelson field were evaluated at a sell price between 4,12 to 4,92 $/MMBTU and for Nelson Field, between 4,95 $ to 5,51 $/MMBTU. And NG was accounting for 221 MM$ of the 686 MM$ (10 % BT) and doesn't take into account the new gas discovery made this year...
With those new contract and the reserve report on the verge of getting out, gaz price assumption will probably be adjust to take into account those new price and take into account palmer 1 discovery. Canacol, per their newest presentation, intending to have around half of their production coming from Gas field, this will impact their NAV in a material way.
This will be an interesting rest of september...
Later
white