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 > one for five

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Comment by cyber37on Mar 15, 2023 12:32pm

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Post# 35340141

RE:one for five

It is not obvious if that (5:1 consolidation) was the reason since transaction fees for more expensive stocks are higher so this could be just a wash.
As for the declining CNE share price, company must show progress in their pipeline development. News releases about re-financing are all good & dandy but do bagger all to show real & tangible company growth. It is even more important now to show some progress in light of the SVB fiasco where banking systems and markets around the world are stressed & is more and more difficult to raise additional capital. Get that pipe finished!
G37

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