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Canacol Energy Ltd 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 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.


TSX:CNE - Post by User

Bullboard Posts
Comment by oilwatcher13on Jul 09, 2018 3:47pm
91 Views
Post# 28289504

RE:RE:RE:RE:Gamba and Hibberd will Ignore Voting results...!!! Very Sad

RE:RE:RE:RE:Gamba and Hibberd will Ignore Voting results...!!! Very SadThere is a great deal of community unrest in Columbia thus the environmental approvals are taking longer with more consultation and community input. Ultimately, I believe that the twin line will be approved but over a delayed timeframe.... thus Gamba over promising and under delivering with respect to his dates and estimated revenue.... for exit 2018...

Gamba continues to raise cash and prolong debt at 320 million dollars... with no desire to repay or pay down debt... this continues to be a downward pressure on the stock price along with his lack of trust and transparency.... no analyst will trust him at this point....

So why is he hoarding his cash and not paying down some debt...??? 2019 more drilling and another pipeline maybe.... who knows for sure.... always over promise and under deliver... GAMBA FACTOR

JMHO
Bullboard Posts