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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 Apr 24, 2012 10:35am
223 Views
Post# 19828310

RE: RE: C7,Mira,LosCuerB, Guad,Gacheta,Ubaque ALL

RE: RE: C7,Mira,LosCuerB, Guad,Gacheta,Ubaque ALLI have taken you off of ignore in order to reply to the utter nonsense you've been posting. The whole RH field - not just this single well - has at least 6 oil-bearing formations. That sounds great - but look at the FACTS. CNE produces primarily from one of them - and that's the Mirador. FACT. CNE netbacks from the Mirador are a little over $10. FACT. CNE doesn't produce from the other zones because the flow rates are meaningless, or not commercially viable for them. FACT. The netback from the Gacheta could be $500, and CNE still wouldn't pump from it because the Mirador production would still pay more at $10. SPECULATION. You sir, have some problems with math and common sense. The good news for you is that you probably get paid more pumping on Stockhouse, than CNE does on the RH field. Cheers. >
Bullboard Posts