RE:RE:RE:RE:They hyped what was short term flush production from a They are delivering but not on the hype. Their production growth is great, but when Mr. Gamba says in December that the low end of guidance is 15000 boed, investors have great expectations.
When Mr. Gamba says that they are producing 13,800 boed in June, investors are rightly expecting 13,800 boed. According to the ANH production, June was the worst month they had for Colombian oil production in Q4. How does the worst month at 13,800 boed then add up to 12,200 boed. Then in July they add 800 bopd from two different wells and the production is 13,200 boed, investors dump the stock.
CNE is it's own worst enemy and the worst of all is Mr. Gamba. It is really easy to get confidence back. Update production EVERY month, regardless of whether it is good news or not. CNE updates production only when they think it looks good and smart investors have seen the pattern. Parex is trusted because they don't hype - they just perform.