Article in Stockwatch Market Summary for September 24, 2014
The Stockwatch Energy Report yesterday, which is e mailed to all Stockwatch subscribers, gave a very poor report on CNE. It covered the over optimistic production forecasts and the different forecast recently released to the Columbian media which is higher than the one received in in our latest summary from CNE. They also mentioned that on June 1 CNE stated that they had added 2P reserves of 1.3 million barrels of light and medium from their purchase of 10 percent of LLA 23 which is double the number shown in their reserve report. There was nothing positive in their report and this will cause more downward pressure on the stock. I hate to admit it but Practical Guy and Crotch have been right in their comments while I had still thought Charlie was optimistic but not too far off the mark. I am still in the stock but have taken off 75 percent of my position in the last week which was very painful . glta