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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 cardman503on Apr 15, 2010 3:40pm
497 Views
Post# 16996837

RE: Dilution....

RE: Dilution....

With all the projects on the go, they knew, and we probably did or should have too, that they were going to have to raise money. I like that they waited until hitting this new higher plateau before going to the market, otherwise the dilution would have been even greater. This stock traded around or under .60 for over half of the year so far and I think they were waiting for teh ebenfit of teh shareholders. If we want organic growth through the drill, we need prospects and we need drilling budgets. I'm ok with this, but the real measure is how well they use these funds, and I am still long because I like what management is doing and the prospects they have assembled.

trade well,

cardman503

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