Canacol Energy Ltd (Alberta) T.CNE

Alternate Symbol(s): CNNEF

Energy Oil & Gas E&P

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.

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Canacol Energy Ltd (Alberta)

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Post by veronikagermanyon May 14, 2015 10:17am

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Post# 23727988

Opinions about the new $200 million Debt

Folks, what is your opinion about the recent $200 million debt? I do not like the indebted companies, see American Eagle (AMZG) filed for bankruptcy yesterday and Spyglass (SGL.T) will be the next one that will file for bankruptcy. SGL added a "Going Concern" note to the annual report.

So my question is: Can CNE make it with the new $200M DEBT?

tia

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