Canacol Energy Ltd CNNEF

Primary Symbol: T.CNE

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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Post by oilwatcher13on Dec 18, 2020 10:52am

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Post# 32139724

Gamba Factor Continues...!!!

So the plan is to have a new pipeline by 2024 with CNE shareholders taking all the interim debt, so 3 years with no increased gas sales and very little reduction in debt... but still drilling like crazy. As we know from experience, Gamba will over promise and under deliver and over spend.

Gamba continues to get richer but shareholders get no stock appreciation and the divy that may or may not be safe depending on the gas pricing contracts....

So where is the catalyst before 2024 to hold onto this POS... just saying...

JMHO

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