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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 Sep 05, 2012 1:25pm
380 Views
Post# 20320332

RE: Sept 4th has come and Gone

RE: Sept 4th has come and Gone

I got nothing for you, and neither does CNE apparently! Not even an updated presentation...as far as direction goes - the last time CNE was this low was when I first bought in! That was 3 years ago, right around the same time, so my analysis: gone south is an understatement. Achote has no oil - that should be pretty clear by now. In the past, I would sit around hoping for a shred of news - now I'd settle for an updated presentation. Flick - or whoever is pulling his strings - has certainl dropped the ball in terms of communication. The fact that it's now been 5 months since we've had any drilling results - again that's 5 months! - tells me that CNE has lost focus, and basically can't tell it's own poohole from a hole in the ground. With that rant over, there is (or there was) some hope for the end of this year. October/Novemebr seem to be pretty good to CNE. My hope is that we see another decent bounce, and then I'l be out for good. lol.

Bullboard Posts