Canacol Q1 2017 Results, Narrow Gate Returns 41%Canacol Reports Q1 2017 Results
Pembina Pipeline to host Investor Day on May 16, 2017
Narrow Gate Returns 41% vs. Benchmark of 8% To subscribe to our free, no ad, investment blog/portfolio, please go to
https://narrowgateinvesting.com/index.php/subscribe/ Canacol Q1 2017 Highlights - Canacol achieved contractual sales volumes of 18,043 boepd, a 61% increase from the same period in 2016
- Gas Exploration – Canahuate exploration well was completed and tested at 28.4 MMscfpd
- Oil Exploration – Mono Capuchino well was completed and tested 1,013 bopd of heavy oil
- Canacol’s $255M BNP Senior Secured Term Loan and Apollo Notes was replaced with a $265M senior secured term loan with a syndicate of banks. Principal repayments are deferred until March 2019 when its gas production is scheduled to increase to 230 MMscfpd
- Work on SPV private pipeline is advancing and is on schedule for December 2017 production. Construction of the pipeline is expected to commence September 2017. Canacol is in the final stages of evaluating three financing proposals for this pipeline and anticipates finalizing terms with the preferred option by the end of May 2017. Completion of this pipeline would increase Canacol’s natural gas productive capacity from 90MMscfpd to 130MMscfpd.
Our view is that Canacol’s operations are performing as expected, close to its productive capacity. Further upside to the stock price would likely come from continued exploration success, further definitive progress on the financing/permitting/construction of the SPV pipeline, and completion of the pipeline construction in Q4 2017.
Pembina Pipeline Investor Day – May 16, 2017 Pembina is hosting its annual investor day in Toronto on May 16, 2017. This year’s investor day will be particularly interesting with the recent announcement of Pembina’s acquisition of Veresen Inc. (TSX:VSN).
Narrow Gate Investing Performance Update – May 12, 2017 
*Benchmark Indices appropriately chosen between TSX, S&P500, NASDAQ depending on stock.