Canacol Energy Ltd T.CNE

decent Q1 numbers out...

[downwithdotcom1]

solidly profitable...forward annual cashflow around 2.5 times but i'm sure oilwatcher will sure to weigh in..one thing that caught my eye-oil production (while small) jumped by 67% to 428 bbls/day-but how to you get a NETBACK OF ONLY $14 ??? comments??? dwdc

Operating netbacks(1)
Natural gas and LNG ($/Mcf)		3.58		3.36		7%
Colombia oil ($/bopd)		14.23		34.06		(58%)

[mjh9413]

Ibelieve Cavengas is still a major shareholder along with Merrenstein of Fourth Sail and I have to winder what they do on the BoD when it comes to what Gamba does. I have to believe they 'urged' dividend payemnts to start. I see 2024 appears to be start date foe medllin pipe so that is earlier than before yes/no? Isn't the pipeline meant to have a lot of costs met by all these

[Quintessential1]

It looks like they either use or leave a good amount in the field or inventory.

[mjh9413]

They have only US$345K in inventory but no idea if oil or gas. Prepaids, which includes medellin-related pre-construction costs plus other things. So, don't know how much out of total $13MM is for medellin but imagine it's small on counts of both what it is and versus all their new borrowings!!!

[Quintessential1]

I was referring to page 6 of the MD&A where they say they produced 428 barrels in Q1 but either used or stored 318 barrels in the field.  It also says they had 71 barrels for take or pay contracts.   Do they not have to pay royalties on the full 428 and would it not result in a very low netback for the 71 that they sold? I would also like to know how you copied and posted the

[philippechampy]

The answer is on Financials, MD&A, page 8, average benchmarks and operating expenses.