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 > Sales, Drilling Operations, and Share Buyback Update

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Comment by Tree2treeon Mar 10, 2022 7:35pm

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Post# 34504979

RE:Sales, Drilling Operations, and Share Buyback Update

That share buyback means a 3% decrease in the share count, which is very substantial. Fewer shares means more profit per share, even after paying interest on debt. The next thing we may see is an increase in the dividend, which is already over 6%. As long as they don't screw up so bad to lose the dividend, I have no complaints.

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