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Canacol Energy Ltd (Alberta) 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, VIM-21 and VIM-33 blocks located in the Lower Magdalena Valley basin in Colombia. Its production also included crude oil from its Rancho Hermoso block in Colombia (Colombia oil). It supplies approximately 17% of the country’s gas needs and more than 50% of the Caribbean Coast’s gas demand. Its gas fields which produce from the Cienaga de Oro and Porquero proven reservoirs are connected to its central Jobo gas processing and treatment facility through more than 169 kilometers of flow lines, mainly flexible steel flow lines. The Company operates over 1.5 million net acres in 11 exploration and production gas contracts in Colombia, located in the Lower & Middle Magdalena Basins. Its natural gas processing and treatment facilities consist of three plants.


TSX:CNE - Post by User

Comment by Georgieboy1on Dec 11, 2009 8:25pm
272 Views
Post# 16580063

RE: RE: Very Calculated moves here

RE: RE: Very Calculated moves hereThanks, Hiker, the interesting thing here is what I stated earlier this morning that between First Energy and Jitney, they just might keep pushing into the bid and finally into the asking price, which is exactly what happened in the last 30 mins of trading!!!  With the price oil having a set back over the past few days, CNE has held on very nicely!!  Colombia is the place to be and CNE is situated in some very very interesting property!
The major houses are positioning themselves for the next leg up and I suspect that we're going to fly past the 50's and into the 60's. Remember, Sprott had a target of .64 and Peter Lisk had a target of .74 and I'm saying that those numbers are far too conservative!!  George  btW, if and when we do get the Capella numbers, you can rest assure that this will set the stage for major eyes to be on our little hidden gem!! George BTW, Retiring Young, you might need to pay a few pennies more for CNE as it's solid above .40!!
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