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 31, 2010 7:57pm

486 Views

Post# 17313424

RE: RE: RE: RE: RE: where do these turkeys come fr

Wisewun, I missed this on CNN, will have to watch for it! It will be interesting to watch how this will affect the price of oil in general. If anything, it'll push the demand for oil up as the threat of war will mean the disruption of oil available hence, the old supply and demand rule from Economics 101!!
It'll be interesting to see on Monday in regards to the price of oil as that will surely push it to the $90 range but will push it to $80 in a jippy! Both countries are big oil producers!!
As for CNE (and the rest of the oil companies there), it'll push the price up! so, we'll see! Nobody wants to see WAR!! (But, it'll push us up to $1.40 much faster than we all anticipated!)

Thoughts here welcomed. George

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