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Canacol Energy Ltd T.CNE

Alternate Symbol(s):  CNNEF

Canacol Energy Ltd. is a Canada-based natural gas exploration and production company with operations focused on Colombia. The Company’s production primarily consists of natural gas from the Esperanza, VIM-5 and VIM-21 blocks located in the Lower Magdalena Basin in Colombia. The Company’s production also included crude oil from its Rancho Hermoso block in Colombia (Colombia oil). In addition to its producing blocks, the Company also has interests in several natural gas exploration contracts in Colombia.


TSX:CNE - Post by User

Bullboard Posts
Post by oilwatcher13on Mar 27, 2018 9:55am
153 Views
Post# 27786371

CNE Earnings Very sad..!!!

CNE Earnings Very sad..!!!Maxed out line with 335 Million in Debt, Loss of 87 cents per share for the year, selling oil assets at firesale prices....  way to Go GAMBA...!!!


During the three months and year ended December 31, 2017, the Corporation has realized $1.4 million and $5 million of take-or-pay income (as described in (2) above), which is equivalent to 571 boepd and 622 boepd of gas sales, respectively, without actual delivery of the natural gas. As at December 31, 2017, the Corporation has received proceeds for crude oil and natural gas to be delivered at a later date (as described in (3) above). As at December 31, 2017, undelivered nominations resulted in a deferred income balance of $4.8 million ($4.4 million related to gas; $0.4 million related to crude oil) and has been classified as a current liability as it is expected to be settled within the next twelve months.

JMHO
Bullboard Posts