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Canacol Energy Ltd (Alberta) 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, 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

Comment by Crotchon Aug 22, 2012 10:26am
137 Views
Post# 20245903

RE: Food for thought

RE: Food for thought

I don't think CNE released any financials last year until late September. Sedar seems to confirm this as well.

Also, aren't drilling rigs different in terms of their capabiility? Some can drill faster than others, and then there is the geological formations being drilled through. I do recall CNE being able to drill/log some of the RH wells within a couple of weeks because they were using someone else's super-duper drilling rig. Maybe the one being used on Portofino is powered by the souls of enslaved Colombian natives, and therefore just isn't all that fast.

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