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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 Sep 25, 2013 6:23pm
266 Views
Post# 21767860

Production Rates.

Production Rates.From the lastest newest MD&A it is apparenrt from their news that they are drilling 2 more wells Labrador 4 and Labrador 5 in a small pool which will prabably have a total production life of 3 - 4 years with very high decline rates starting immediately. With total reserves of 5 million barrels this is a certainty. In addition, from their mapping, it appears Labrador 4 could be a dud. This is not that important since most of us are waiting for the deep wells being drilled by the majors which will decide the fate of CNE. I am very positive and am holding out for a much higher share  price. glta
Bullboard Posts