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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 Mar 30, 2012 3:20pm
327 Views
Post# 19740431

RE: Saw the News...

RE: Saw the News...Should have been almost inconsequential to the sp, given the recent slide from above a buck, but who am I to dictate what the market does. I think any investment at this point is the purest definition of a gamble. Nothing has been proven outside of their RH field (other than the heavy oil) - continuing to not find oil is becomgina problem, one which needs to be overcome within the next year, or CNE will be belly up in no time. They'll be reduced to holding real estate, but not much else. >
Bullboard Posts