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Canacol Energy Ltd 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 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

Bullboard Posts
Post by Crotchon Jun 14, 2011 8:10am
563 Views
Post# 18711236

Management's hands...

Management's hands......must be getting sore from sitting on them for so long. I'm getting a little antsy at the lack of anything material since the K2 fiasco. 2 months - no drilling news? What are they doing? They have 6 months to drill 40+ wells, and we've yet to hear a peep about the actual schedule let alone confirmation that a single one of those has been spud. I'm with Yoplait - where's the beef!?! It's hard for anyone to buy into Gamba's declaration that 2011 would be very exciting for shareholders (keeping in mind that my definition of "exciting" might be very different than his). I'm still in this for the long haul, but it's hard to maintain a position in this stock given it's lackluster performance over the last 7 months. Oh well...
Bullboard Posts