Canacol Energy Ltd (Alberta) 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, 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.

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Canacol Energy Ltd (Alberta)

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Comment by yoplaiton Mar 30, 2012 9:36am

359 Views

Post# 19737826

RE: RE: RE: RE: RE: RE: NEWS

I'm skeptical 44 Capella wells will happen this year but if this can be accomplished by year end you would increase production 44 x 200 bopd = 8800 bopd...now CNE with it's 10% participation would increase their production by 880 bopd. Crotch is a little on the optimistic side when his estimate of 1000 bopd but lets not split hairs here...Crotch is very correct on the need to find a new oil field...sooner than later. >

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