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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 mjh9413on May 13, 2022 2:17am
202 Views
Post# 34680399

RE:decent Q1 numbers out...

RE:decent Q1 numbers out...Ibelieve Cavengas is still a major shareholder along with Merrenstein of Fourth Sail and I have to winder what they do on the BoD when it comes to what Gamba does. I have to believe they 'urged' dividend payemnts to start.
I see 2024 appears to be start date foe medllin pipe so that is earlier than before yes/no?
Isn't the pipeline meant to have a lot of costs met by all these financings over past say 18mths but all I see is debt increasing and little to show for it in terms of development and performance. That to me is major problem with CNE under Gamba and its present Board.
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