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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
Comment by Crotchon Nov 08, 2013 8:27am
84 Views
Post# 21887835

RE:RE:People get nervous very easily...

RE:RE:People get nervous very easily...Yes, I believe their financials have nothing to do with their credibility - at least not in a positive sense. They've generally been decent over the years. Yet - this stock continues to struggle.Why? One needs only to review the history of this company to recognize that CNE has consistently over-promised, and under delivered. Toss in the seemingly random pump and dumps, as well an inconsistent approach to releasing (or not) production numbers,  and you get yourself a rather negative reputation. Ever since the period of time surrounding the debacle in Guyana, CNE, in my opinion, has been victimised by its delusions of grandeur. I'm sure it'll turn around - at least I hope it does, or my low ball bid this morning may be for naught. 

Do you seriously beleive this stock is going back to the teens, let alone twenty dollar range? That'd be nice, but it's pipe dream territory at the moment. 
Bullboard Posts