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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 Aug 22, 2014 10:20am
236 Views
Post# 22868667

RE:Lets review shall we?

RE:Lets review shall we?Based on a few discussions with IR, I think they don't get it.  They are an intermediate company that acts like a junior.  They put out junior news releases and they hype things outside of news releases.  They don't get that production is king, except at YE when reserves are king.

They would also have a lot more confidence if they told us about operational problems (like why Leono dropped from 4232 bopd in May to 2881 bopd in June.  and why Pantro was not on in June and why VMM2 Liasma was not on in June.  They don't get that if you hide operational issues, investors think it is a reservoir issue.  Operational issues are short term, reservoir issues are long term. 

When companies hide info, like production and operational issues, investors lose trust.  This is highly unfortunate because CNE is doing things right on the operational side, it is their IR that needs to up it's game.
Bullboard Posts