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

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Comment by Crotchon Apr 11, 2011 10:41am

451 Views

Post# 18413156

RE: Mind vs Gut

Tough call either way. The decline since 1.87 is completely baffling to me. There has been plenty of positive news for CNE since last fall (big production numbers for RH, expanded E&P for 2011, big spike in oil price) but none of that seems to mean a wink to the SP - quite the opposite in fact. For a company that's pumping 10K bbl a day you'd figure this thing is worth far more than $1.35. The cash flow they're generating with oil at $110+ must be incredible - I think that's a full 25% higher than their guidance!

I suspect there are a few pension plans in Colombia not all that happy either.

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