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.

TSX:CNE - Post by User

Canacol Energy Ltd

Bullboard Posts

Comment by Crotchon Apr 07, 2011 10:06am

383 Views

Post# 18398332

RE: What Is Going On?

With 2 million shares traded yesterday, and only 50,000 so far today I think it might be safe to say that what we're seeing is the dvouring of low hanging fruit.

CNe has seen some big drops, and quick recoveries in the past (when we were headed to a buck, we did a nice 30% freefall back tot he .60s).

If we close above 1.50 today, I think that'll be a positive indicator that no one really knows what the news holds.

Bullboard Posts

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