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 > Where does the money go Mr Gamba?

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Comment by smxmcx2on May 27, 2021 6:27pm

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Post# 33283176

RE:Where does the money go Mr Gamba?

It's simple. CNE funds revenue with all of its cash flows plus debt leaving no profit. Unbelievable that CNE pays a dividend funded by debt. Watched this shlt for 6 years. I actually made a profit here when the oil market crashed in 2014 and I averaged down and they sold after the bounce. This company going nowhere until different management takes over.

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