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Canacol Energy Ltd CNNEF


Primary Symbol: T.CNE

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

Post by philippechampyon Aug 14, 2023 4:14pm
416 Views
Post# 35587689

Simply Wall Street

Simply Wall StreetThey issued a severe warning yesterday. You can see the result today. 

But they say " statutory earnings are expexted to nosedive to 1.69$ per share . Before this update analysts forecasted 1.69$ per share.". Going from 1.69 to 1.69 is what they call a nosedive !!! And they don't understand that net earnings are not meaningful because they include deferred income tax expenses (or recovery) depending on the foreign exchange rate.

Moreover, they say revenues are expected to decline 6.9% in 2923. But revenues after royalties and transportation (the only meaningful measurement) increased 9% for six months !

Reckless


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