Canacol Energy Ltd 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 and VIM-21 blocks located in the Lower Magdalena Valley basin in Colombia. The Company’s 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. It operates over 1.5 million net acres in 14 exploration and production contracts in Colombia, with 11 of these contracts focused on exploring for and developing natural gas. These blocks are all located in the Lower & Middle Magdalena Basins of Colombia.

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Canacol Energy Ltd

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Post by crackiedogon Jan 17, 2011 8:51pm

659 Views

Post# 17986948

Petrolifera getting bought out

Gran Tierra Energy Inc. (TSX:GTE) is seeking to expand its presence in South America with a US$195-million friendly takeover of Petrolifera Petroleum Ltd.

Based on Monday's stock price, the offer of 0.1241 of a Gran Tierra share for each share purchased is worth $1.03 a share — a 29 per cent premium to the market price for Petrolifera's stock (TSX:PDP).

Could be an interesting day tomorrow. I wonder of there will be any spillover effect on other Columbian juniors such as CNE?

Crackiedog

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