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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 12, 2012 8:30am
375 Views
Post# 20351076

RE: what's going on with this company

RE: what's going on with this company

Since CNE hasn't been very forthcoming in terms of releasing information on their drilling progress for 2012 I'd suggest contacting their PR guy for info. I don't think anyone on this board will be able to give you an update on their "planned" (and boy, do I use that term in the loosest of possible ways) wells for 2012. As far as I can tell, of the 40+ "planned", they've drilled 1 and started a second. And yes, it's September - soooooo just like 2011 I would expect the company to recduce (and by reduce I mean slash) their targets for the year.

Bullboard Posts