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.

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Canacol Energy Ltd

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Comment by Crotchon Feb 14, 2012 10:07am

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Post# 19530571

RE: RE: RE: RE: RE: RE: RE: RE: Canacol Energy Ltd

Streak, by definition is series of similar events - K2, Tamarin, and the last one with C&C - all dusters, and that IMO qualifies as a streak, and not a good one. I didn't think K2 was a bad idea - neither did the company, and most certainly the government of Guyana was quite optimistic of a successful well. CNE is so far not a successful explorer - it has shown a remarkable ability to gobble up real estate, and drill up it's existing oil fields. Lots of exploration this year (finally), so we'll see how they've evolved from their past failures.

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