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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 2new4investon Sep 18, 2012 4:40pm
256 Views
Post# 20381861

RE: Guyana Again! - bosslady

RE: Guyana Again! - bosslady

Being not familar with this particular well.  Some notes you mentioned about this well stood out.

You mentioned a miss by 293 meters and a previously unidentified fault line.

You do know what that means.   Who ever processed this seismic line that lead to the original interpretation was done incorrectly.  Somebody botched the seismic processing on this line and it can not be trusted.  The well bore doesn't lie but the seismic can if somebody does it wrong. 

Usually a mistake like this requires the seismic to be shipped out to a couple of other seismic processing companies to see if the results will be different.  And if they are different and they should be, the original seismic processor will be in trouble!   I've seen it happen before.

There could be a 2nd possiblity though.  The co-ordinates for the seismic could have been off depending on the grid system used.  This can account for approximately 200 meters.   That could have happened at either end, the seismic processor or by the interpretating geophysicist at the oil company who overlaid his/her survey on to the seismic to determine a drill location.

So you learned a little about seismic today!

Bullboard Posts