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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

Post by oilwatcher13on Dec 15, 2023 10:57am
247 Views
Post# 35786657

Dividend Lowering and Tax Loss Selling...!!!

Dividend Lowering and Tax Loss Selling...!!!Normally, you would have heard from the management by now on the divy, but as everyone knows CNE has been downgraded by Moody's and is being reviewed by a firm for a class action lawsuit. Divy is going to be lowered or canceled and the share price will take another hit and they are going to come out and say they are focusing on lowering the debt. Same as they said last year but didn't do it as per usual for this lack of management group.

Now they start again in Bolivia, and the only people making any money are the management, as they pay themselves very very well. This company has been an absolute joke for the last 10 years and has never lived up to their promises, that's why no analyst covers thisa dog anymore. CNE has burned all the bridges....period!

JMHO
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