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.

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Canacol Energy Ltd (Alberta)

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Comment by Crotchon Aug 28, 2012 7:43am

283 Views

Post# 20267729

RE: Llanos 27 block

In order to get at that oil, CNE actually needs to get a rig on site! 4 months left in the year, and we've had results on 3(?) of the 40+ wells (not to mention the dozen or so workovers) the company had "planned" to drill? On top of that we've had a 25% jump in the last two days, with it looking to go higher today, and there's no indication as to why. I doubt the FARC talks are having an impact, as they are just in the reach-out-and-touch-someone phase.

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