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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 4:31pm
200 Views
Post# 19830754

RE: RE: RE: Crotch

RE: RE: RE: Crotch

On the whole - I'm bullish on CNE. My issue today isn't with the NR - it's with the idea that it's "great" news. I mentioned the silver lining of the Gacheta formation. I like the Exxon and Shell deals, yadda yadda yadda. With that being said, the devil is very often in the details. Yesterday's NR - for the time being - is net zero in terms of cash flow. How that is good news, or how it adds considerable value is beyond my simple mind's comprehension. I'm offering my opinion on the NR - I've asked for others (as I have been wrong many times before), but instead I get the old stand by "basher" claim. At the very least I'm just challenging the blind pumping, and at the end of the day - where's the harm in that. Thanks for your feedback Patagonia - I'll start looking for the forest a bit more in the future.

Bullboard Posts