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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Post by Crotchon Nov 16, 2012 9:46am

355 Views

Post# 20608987

egads...25 cents

So CNE basically has less than a month to boost their SP in order to get SHO on board. I had previously thought that the deal was based on the 15 day average prior to the announcement, but I believe that was incorrect. It looks like it really is just 1 share plus 9 cents. I wonder if the 9 cents part of the deal will ahve the most value come mid-December. This is quite a sad state of affairs for this company now. Down 75%.

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