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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

Comment by dardanion Aug 31, 2016 10:10am
129 Views
Post# 25194863

RE:RE:RE:RE:RE:RE:RE:RE:Analyst targets

RE:RE:RE:RE:RE:RE:RE:RE:Analyst targetsI took my first position in CNE when thedave was boasting it would be the next PRE in Colombia. Shows you how far back that goes. I'm fully aware of all the shortcomings of Gamba but he seems to have for the time being at least turned the ship around with his gas plays. He is delivering on his gas objectives so he can't be faulted there. Parex seems to be the exception but just about all the rest of the intermediates and junior's are trading at 1/3 of their former value. If one believes oil prices will eventually rebound then that should put CNE shareholders in a good place having compelling gas sales in place from which the share price can push upwards by bringing more of their oil reserves on stream. I appreciate the reluctance of some investors to buy into the turnaround scenario for CNE. I'd be skeptical too if it wasn't for their gas sales performing and indeed growing at a remarkable pace. Until the market sentiment for oil companies improves there will be a reluctance by many investors to give these companies their proper valuations.
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