Canacol Energy Ltd 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 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

Canacol Energy Ltd

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Comment by Vanboarderon Oct 18, 2012 3:21am

227 Views

Post# 20496786

RE: RE: Shares outstanding???

Hey Zoltar123,

If you prefer we can use just the current shares outstnding then which is:

CNE= 619 million (without counting options/warrents)

SHO= 232 million (without counting options/warrents)

So really we're still talking about 851 million shares before multiplying the shares SHO shareholders will get in the deal. However, as was pointed out by others here CNE plans to do a 10-1 consolidation.

In my experiece whenever a company does this they almost ALWAYS take a SP haircut after the consolidation.

JMHO

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