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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 28, 2011 12:35pm
310 Views
Post# 19271403

RE: Re: Capella

RE: Re: CapellaTo echo yoplait - it would have been nice to hear from CNE on the issue though.

Yes, oil output is less than 1000 bb - but when they were touting 28 wells there for 2011, and then at the drop of a hat it switches to "appraising" current production, you'd think we'd get a reason why for the about face.

Anyway, the province that Capella is in is a traditional hotbed of FARC activity. I suspect there'll be other issues with them down the road, but at least now the military and local officials have stepped in to increase security along the tanker-route. On top of that, I believe Emerald might be sponsoring some sort of social assistance program for a local community orgnaization.

We should be getting RH 13 results within a couple of weeks (that's my assumption), and there should be results from the other appraisal wells coming in to.

Flick has said a new presentation is coming tomorrow. I'd really like to see Carrao get explained in more detail - a lot more detail for that matter.
Bullboard Posts