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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

Comment by surfsidewayson Mar 08, 2011 10:47am
371 Views
Post# 18250781

RE: FARC

RE: FARC

Twenty-one of the 23 oil workers kidnapped on Monday in the eastern department of Vichada have been rescued by Colombia's armed forces, W Radio reports.

According to the army, one of the men managed to escape on Monday and helped the armed forces in their rescue efforts.

Defense Minister Rodrigo Rivera told media, "Within hours we managed to rescue 21 of the 22 hostages," adding confirmation that one had escaped prior to the rescue operation.

Rivera assured reporters, "All those rescued are in good health. We are still continuing with military operations and redoubling every effort to ensure that we find the missing person as soon as possible,"El Tiempo reported.

23 men who had been working for a subcontractor for the Canadian oil firm Talisman were kidnapped on Monday from their camp.

Initial reports by the army accused the FARC's 16th Front of being respnsible though the official culprits are still unknown with a Talisman spokesman refusing to accuse a group before they have examined all the information.

As soon as the men were kidnapped, the army operating in Vichada sent out a force of 1,400 men to rescue the 23, all of who are Colombian nationals.

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