Canacol Energy Ltd (Alberta) T.CNE

Alternate Symbol(s): CNNEF

Energy Oil & Gas E&P

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.

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Canacol Energy Ltd (Alberta)

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Comment by Georgieboy1on Jan 19, 2010 8:41am

353 Views

Post# 16693767

RE: Oil Exploration Wave in Colombia

Thanks for the post, Junior!!! The newsletter just solidifies what we all know with CNE which is that we are only one or two NR away from the next level :

Canacol has hit two highly productive zones from the same well--3,900 bopd in one zone, and 8,400 bopd in another, in a drill hole in the Llanos Basin of Colombia, where Petroamerica and Petrominerales are drilling.

This well is a joint venture with Colombian oil company, Ecopetrol, and Canacol’s interest is 25%, so these zones would net 986 bopd and 2,100 bopd respectively to them.

Cookster, I believe that Q2 is going to be spectacular for CNE!!! George

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