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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 Crotchon Dec 04, 2012 7:36am
163 Views
Post# 20678859

RE: RE: A Christmas Miracle

RE: RE: A Christmas Miracle

My post was made tongue-in-cheek. Given CNE's track record with discovering oil, this is an unexpected surprise. I'm not sure I would go as far as touting this a company maker - we have no idea what the quality of the reservoirs are. If there's nothing there in terms of reserves, than this won't do anything but add to the growing pile of disappointments being racked up by this company. It is certainly great news, relative to what we've seen from CNE this year (suffice to say, 2012 has been very bad). I am extremely interested to see how the market will take this.

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