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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Post by jewel1on May 01, 2011 1:48am

553 Views

Post# 18513545

Price Is Dropping as Drilling Time Is Closer?

I find it a little surprising that the share price has been dropping as we have gotten closer to actual drilling. What catalysts if any will raise the share price? It seems to not have a lot of liquidity and does not seem to be widely covered. I expected the share price to rise, not fall, as we got closer to drilling, which I understand is expected to begin in approximately the middle of May.

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