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.

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Canacol Energy Ltd

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Comment by Crotchon Nov 15, 2012 9:39am

207 Views

Post# 20603436

RE: How should one read this ?

I seem to recall that Arana 1 was targeting both conventional (the 80ft of pay) and unconventional (shale/La Luna). the "completion" of which CNE speaks is the horizontal/fracking into the shale. I think they had a few thousand feet to go after they penetrated the convential zone.

As far as I know, the conventional stuff is a bonus - I don't think they expected to encounter as much as they did. I don't think you're being BS'd on these two wells.

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