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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

Post by cardman503on Feb 14, 2011 7:18am
449 Views
Post# 18127373

Inegma

Inegma19,000 bopd gross, 4975 net  good netbacks and the price flatlines much as it did after the previous NR with drilling success- crazy! Someone said the market already had this success built into the price, but if that is the case, why was it trading as high as $1.90 last year? (I realize the buying frenzy after the SA listing inflated the price) CNE has had a lot of success with the bit that has been ignored by the market. I have been in for over 18 months and have done well, but these last couple of months have been counter intuitive to what you would think would happen, don't you think? While $11 could be a realistic target, the timeline of it happening this year isn't.  I still think this play offers significant upside and I plan on being here as the market corrects on this company.
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