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, 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.

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Canacol Energy Ltd (Alberta)

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Comment by robt1234on Jun 24, 2015 4:09pm

103 Views

Post# 23865057

RE:RE:RE:RE:RE:RE:RE:RE:Reality check.....

The likelihood is that you are right about Jan start of the delivery, That will mean someone has to buy the gas from somewhere and deliver it to the utility. That someone is CNE. But it might be Promigas if CNE has done their infrastructure on time. And whether or not that can happen might depend on whether or not they pay $13 million to Altenesol and other factors which should be laid out in a cash flow projection. Do you not agree? I don't know if Venezuela can export natgas - they were importing it up to now. The possibility exists that CNE has no money to get what they want done - and if it means drawing down more Apollo funds it carries a high interest rate. Don't tell COOT that, he is only concerned about cash in,

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