Canacol Energy Ltd 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 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.

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Canacol Energy Ltd

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Comment by Crotchon Jun 12, 2012 10:05am

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Post# 20003016

RE: RE: RE: RE: RE: Hang in there

The price of oil is still in their wheelhouse, so I don't think they're all that concerned (just yet). On top of that, there seems to be a serious disconnect between the price of oil and the proce of gas - at least here in Canada. In the past the price of gas has trailed the price of oil, and there is no such correlation this year. Oil at $80, and gas at $1.25 - that is a huge gap. As far as the consumer economy goes, it's the price of gas that's the problem this summer.

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