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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

Comment by jmlguyon Nov 23, 2012 7:06pm
281 Views
Post# 20638350

RE: RE: RE: RE: RE: Time for a drilling update...C

RE: RE: RE: RE: RE: Time for a drilling update...C

Received all my voting materials/proxy in today's mail and have mixed emotions....1st I think management is honestly trying to improve bottom line, but then, can't rectify their attempts at shareprice improvement with the 1 for 10 reverse split. 98% of reverse splits cause a loss of shareholder equity or decline in share value due to holders dumping before the reverse takes place, and natural historical decline immediately after the reverse takes place. Thus a lose/lose scenario for us. Our sole redemption will be a positive release in drilling results. That said, my breakeven is 40 cents a share on 30,000 shs. Happy hopeful New year!

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