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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 Dec 29, 2011 8:10am
221 Views
Post# 19356260

RE: RE: RE: RE: RE: RE: RE: $93,000,000 From RH 13

RE: RE: RE: RE: RE: RE: RE: $93,000,000 From RH 13I went back through the NRs on RH in 2010 just to confirm. If you recall, I was surprised to see tariff production so high, given that I had thought that there was rarely any tariff production mentioned in the flow results in the past. Anyway, in 2010 we saw a workover of RH 4 - all NRI production. RH 6 NR indicated that NRI was to put on long term production (co-mingling of Guadalupe and Los Cuervos). RH 7 was similar, except the BArco reservoir was to be included in production. In both RH 6 and 7, the Mirador was encountered, flow rates published - but no indication that CNE would be tapping it for production. As you mention, RH 9 was all Mirador production at 6750 (initial test flow rates). However - the quarterly results for the 3 months ended Dec 2010 don't appear to differ all that much (in terms of production ratio) from the NRs. 2700 NRI vs 5800 Tariff, whereas I have test results and workovers from RH 4, 6, 7, 8, 9 at 4170 NRI vs 6750 Tariff. I will also add that I did notice that CNE has released "Production Updates" in both 2010 and 2011 that indicate what portions of their prodction are NRI vs Tariff. Quarterly results also have this breakdown, if I recall correctly. Thanks for your insight. Much apprecaited. Yoplait - here is something interesting - if you look at the 3 months ended Mar 31, NRI was 3161, but the 3 months ended Jun 30, NRI was 3879. A decent increase in non-tariff production, but no wells were spud/tested during that 3 months. I agree that CNE should be more forthcoming about it's actual produciton numbers, or at least annouce well results after a longer period of production. Perhaps there is something we just aren't seeing...
Bullboard Posts