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Canacol Energy Ltd (Alberta) 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, VIM-21 and VIM-33 blocks located in the Lower Magdalena Valley basin in Colombia. Its 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. The Company operates over 1.5 million net acres in 11 exploration and production gas contracts in Colombia, located in the Lower & Middle Magdalena Basins. Its natural gas processing and treatment facilities consist of three plants.


TSX:CNE - Post by User

Post by 1thedave2006on Nov 13, 2014 4:19pm
228 Views
Post# 23126438

Canacol Energy Cash & Cash Flow Great Assets.

Canacol Energy Cash & Cash Flow Great Assets. Canacol continues to maintain a strong cash position with cash and cash equivalents of $137.4 million available at September 30, 2014, and a further $103.7 million of restricted cash as of the same date. In October, we also announced a significant strategic financing with Apollo Investment Corporation for an additional $100 million, $50 million of which was drawn in October and the remaining $50 million remains. Canacol's BuyBack Plan of undervalued shares.

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