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 bionicjoeon Jun 16, 2019 11:08am

125 Views

Post# 29830143

RE:RE:NEWS - Big discovery tested 33 MMscfpd

Until the market actually sees a wow 'em financial quarter it will not be convinced CNE has successfully made the transistion to a profitable gas play. Most investors don't understand that Colombian gas prices demand a much higher dollar than North American natural gas but they do know a profitable quarter when they see one. It's all about the money. Just show the market more of latest gas finds and convince investors that you are paying down debt, not adding to it, and the sp will respond.

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