Canacol Energy Ltd 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

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Comment by dallytaylor24on Aug 18, 2015 2:18pm

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Post# 24028603

RE:RE:RE:RE:Risk Canacol will be offside on debt covenant

I don't believe those figures for one second...I'd rather waite and see this quarter and next quarters financials and with the oil price establishing new lows each day I'm pretty sure there is almost no chance they will come close to $45 million in EBITDA in any quarter before the pipeline is built despite increased gas sales.

I would take the under on Canacol generating $45 million in EBITDA over the 6 month period of July to December.

Talk is cheap and this managment team has no credibility, they still try promoting their LNG deal that they know is dead.

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