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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
Post by Crotchon Oct 19, 2012 11:23am
318 Views
Post# 20502853

PTA and CNE

PTA and CNE

When I first got into the Colombian O&G scene a few years ago, it was based on an article in the Financial Post that was discussing Colombia as a potential investment opportunity. There were three junior O&Gs mentioned - CNE, PTA, and the third one escapes me...I chose CNE over PTA. Anyway, here we are three years later - CNE went through a decent boom, but now sits at 37 cents with 14K+ in production. PTA currently has 2500 in production and is at 27 cents and rising this morning. Their shares O/S are close, but I am shocked at what a difference market sentiment is playing . PTA is bounding higher based on the perception that there is a real possibility it can convert its potential, whereas CNE with decent production for a junior, and tons of land (not to mention big boy partners) is perceived to be unable to convert on anything. It would appear that both companies are following almost opposite histories. I still have a little faith in CNE, but it's dwindling pretty quickly. I just want some more freakin' oil. Is that asking for too much? C'mon Gambe, W the F dude.

Bullboard Posts