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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
Comment by Crotchon Nov 22, 2011 4:28pm
202 Views
Post# 19258982

RE: No insider activity?

RE: No insider activity?Tax losses for me will be limited or non-existent. All buys I made above these levels were into TFSAs, so I'll see nothing in terms of taxation one way or the other. February is my best-before-date for CNE. This deal may expidite my exit, as I think it's a wee bit smelly. I don't like the lack of disclosure on it or Capella (not that Capella represented more than a few hundred barrels of oil anyway). When I leave it'll be all at once. I've been in touch with Flick. Nothing forthcoming from the IR area other than what someone might deem "false" assurances. He has explained that a presentation will be made on Nov 29 after the deal closes. I'll take a look at it and go from there. One positive with CNE is that high percentage of institutional holdings - at least I think it's a positive - I know it's not just retailers being asked to grab their ankles without the benefit of lubricant.
Bullboard Posts