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.

TSX:CNE - Post by User

Canacol Energy Ltd (Alberta)

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Post by Gladtidingson Jan 24, 2011 6:51pm

438 Views

Post# 18019765

2011's capex for CNE

tells us that some US$100 million are being allocated for drilling up new production wells in the main, and exploration of prospects for heavy oil in Capella plus Guyana and Brazillian prospects. Weak hands being shaken out of their shares in this momentary downdraft in the past week will live to regret selling their shares. The big boys are grabbing those shares! Get smart!

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