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Canacol Energy Ltd 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 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

Bullboard Posts
Post by PATAGONIAon May 02, 2013 9:23am
245 Views
Post# 21332694

Great to see their 3D seismic works

Great to see their 3D seismic works

The well came in as expected and the next well should also be OK.  Crotch is correct that it will have to be data from the majors drilling and testing  to cause a big move in the share price. The Leono propect, which could have 8 million barrels of reserves will not be drilled until late summer so until Exxon Mobil or the other majors come up with some positive results we only have quarterly reports and production data on the new one or 2 ??Labrador wells to keep up interest in the company. It is trading at a big discount to its present work but this is the case for many oil companies this year. glta.

Bullboard Posts