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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

Post by jmlguyon Oct 16, 2012 9:47am
334 Views
Post# 20487911

Down 10%

Down 10%

If/when reversesplit activates, price will dro another 10%. Reerse splits mean downward spial in 95% of cases. Only way this baby flis is if more oil/gas is pumped, unimpeded, and  at higher net prices. I could work out ok for common sh. holdrs  few years down the road, butsee it performing like BPZ, a gem in the rough in an area of political instability...Peru much worse than Colombia, though.    

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