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 Jul 28, 2010 9:16am

326 Views

Post# 17302607

RE: GREAT NEWS!!!

Dudes, CNE is doing everything right to engage the interest of existing shareholders and to get new investors salivating over what to come!!! A job well done by mgmt which is why I selected this gem in the first place!

Look at what Charle has siad here in this NR....

Charle Gamba, President and CEO of Canacol, stated "We are very pleased with the results of the RH 6 well, the first of 5 development wells we plan to drill at Rancho Hermoso in 2010. The 115 feet of net oil pay encountered makes it the best well drilled in the 26 year history of the field, and bodes very well for the remainder of the drilling program we have planned for this year at Rancho Hermoso in order to achieve our production targets for year end."

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