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 May 02, 2013 7:39am

195 Views

Post# 21328408

RE: Update Labrador 2 Well

When things start looking very bad, better throw the shareholders a bone. Why not wait 2 weeks until testing/production results are availble? IMO, it looks like panic mode - an attempt to stop the bleeding. As with prior attempts to staunch the rapidly declining SP, I think this will have but a temporary impact. It would be nice of one of the 3 "world-class" partners would do something to lift the sagging bow of this company.

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