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Canacol Energy Ltd (Alberta) 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, VIM-21 and VIM-33 blocks located in the Lower Magdalena Valley basin in Colombia. Its 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. The Company operates over 1.5 million net acres in 11 exploration and production gas contracts in Colombia, located in the Lower & Middle Magdalena Basins. Its natural gas processing and treatment facilities consist of three plants.


TSX:CNE - Post by User

Comment by Iran150on Mar 23, 2012 3:59pm
164 Views
Post# 19711625

RE: CNE RH 10 Results = RH 16 next week imo

RE: CNE RH 10 Results = RH 16 next week imo

In days by Wed/Thursaday  Canacol Energy (cne) Rancho Hermoso # 16 results will be same as RH 10 since hundreds feet away. The RH 10 well was spud on January 4, 2011, and reached a total depth of 10,305 ft md on January 16, 2011 in the Ubaque reservoir, which was the primary producing target of the well. The well was drilled in a record time of 12 days (approx. 40% less time than the Rancho Hermoso 6, 8, and 9 wells) using advanced drilling techniques which will be applied to all future wells drilled in the field in order to lower drilling costs. Good oil and gas shows were encountered in the C7, Mirador, Los Cuervos – Barco, Guadalupe, and Ubaque reservoirs while drilling. Petrophysical analysis of the open-hole logs indicates a total of 110 ft of oil pay within the well: 12 ft of oil pay within the C7 reservoir with average porosity of 21%, 9 ft of oil pay in the Mirador reservoir with average porosity of 25%, 19 ft of pay within the Los Cuervos–Barco reservoir with average porosity of 26%, 25 ft of oil pay within the Guadalupe reservoir with average porosity of 28%, and 45 ft of oil pay within the Ubaque reservoir with average porosity of 25%..Truely say CNE will be $3 $4 stock soon 2012 Dec. Been Buy @.50's now almost 100% profit. Facts Are Facts!

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