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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

Comment by oilwatcher13on Feb 21, 2022 3:19pm
242 Views
Post# 34448309

RE:Sales, Drilling Operations, and Share Buyback Update

RE:Sales, Drilling Operations, and Share Buyback UpdateGAMBA FACTOR STRIKES AGAIN

With the newly negotiated 500 Million in debt at 5.75%, do you think that stock buybacks with these funds makes much sense. Gamba will have the new cash spent in no time, with no accountability to his previously stated reduction of debt ratio ... over promise and under deliver is his motto...

JMHO
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