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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 Jun 12, 2012 10:49am
136 Views
Post# 20003436

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

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

My wife utters those very words on a daily basis.

The US president can ask anything of anyone in the world - but that doesn't mean that people will jump when he asks them to. The US-Saudi relationship is fairly complex, and probably not as significant in terms of influence as it was a decade ago. The Saudis have openly opposed the US over geo-political issues (i.e. invading Iraq, Israel, etc) on many occasions, with little to no ramifications to their well-being.

In terms of "national security", the Saudis import more arms from the UK than they do the US (42% vs 40% as of 2009) - not by a lot, but it certainly deconstructs the idea that SA is entirely dependent on the US.

Saudi Arabia doesn't care who it does business with, as long as they get money. I believe China/Europe are the primary benefactors of Middle Eastern oil, no? At the end of the day, they (just as every other country in the world) do what is in there best interest. If the Saudis increase oil production, it's not because Obama asked them to, it's because doing so will benefit them.

@ Troyahorse - again, there is an apparent disconnect between the price of oil and the price of gas. The price of oil has dropped 20% in the last month. How much has the price of gas dropped? So when the media asks if the price of oil will determine the outcome of the US election, they're asking the wrong question.

 

Bullboard Posts