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.

TSX:CNE - Post by User

Canacol Energy Ltd (Alberta)

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Comment by akragason May 19, 2012 7:48am

312 Views

Post# 19928461

RE: CNE = Exxon, Shell, Ecopetrol, Sinochem,Sclumb

hence the question remains; why in hell has this stock dropped to an almost 52 week low given its enormous potential? It met resistance at $ 1.05 and it could not break through.

Could one of the problems be that the transportation costs are huge given that inadequate pipelines are not in place yet?

I'm personally waiting a little longer to see if indeed it keeps dropping.

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