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)

Bullboard Posts

Post by tdot68on Apr 14, 2011 2:28pm

405 Views

Post# 18432386

Downward Trend

With the recent downtrend, support was at around $1.40 last week, and now we have dropped below that. Charts do show however that CNE is wayyyyyy oversold, which can only mean one thing: 1) Having prices stay at this level back to healthy trading, or 2) Release of the K2 news, which will see the SP go back up to support level or beyond!! GLTA.

Bullboard Posts

How one company is disrupting PoC testing