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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 practicalguyon Feb 27, 2014 3:06pm
136 Views
Post# 22260243

RE:RE:RE:RE:Share price retreating

RE:RE:RE:RE:Share price retreatingI think they were starting the testing in early January.  They had to cement off the Liasma, which would take a few weeks and would bring you to about Christmas time, as long as they had no problems. 

They had 2 or 3 different intervals to test.  The shale well is a science well, so I expect them to do a flow and bulidup on each interval independently, and then do a commingled test of all the intervals together. This is likely a 2 to 3 month job, so I would expect something between mid and end of March.

They are trying to learn about the reservoir, not race a test out to the market.  I am long in CNE, so I would love to see a shale test ASAP, but I understand the need to do things properly.  I the mean time, I am sitting back and enjoying the success on the conventional side.  They should be between 13 and 14 mboed for the last part of Feb.  Then it will be two Liasma tests, hopefully by the end of March and the Pantro test by the end of April. 
Bullboard Posts