Canacol Energy Ltd (Alberta) T.CNE

Alternate Symbol(s): CNNEF

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, VIM-21 and VIM-33 blocks located in the Lower Magdalena Valley basin in Colombia. Its 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. The Company operates over 1.5 million net acres in 11 exploration and production gas contracts in Colombia, located in the Lower & Middle Magdalena Basins. Its natural gas processing and treatment facilities consist of three plants.

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Canacol Energy Ltd (Alberta) > Gamba Factor Everytime!!

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Post by oilwatcher13on Mar 30, 2023 9:10am

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Post# 35368765

Gamba Factor Everytime!!

Gamba Factor strikes again with millions in one time charges, this time for re-organization costing 65 million. They always have a spin on the financials, and hints on the call to lowering the divy in the future if they can't support it... just slight hints but it is coming!

Maybe stop the spending and increasing the debt, what ever happened to the commitment to reduce the debt to equity ratio? Same old story everytime, over promise and under deliver!

Time to wake up people and ditch this clown CEO and his BOD Hibberd!

JMHO

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