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Canacol Energy Ltd 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 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

Canacol Energy Ltd
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Post by oilwatcher13on Jan 02, 2024 3:44pm
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Post# 35807641

Dividend Cut to .416 Annually - GAMBA FACTOR

Dividend Cut to .416 Annually - GAMBA FACTOR
$0.416 6.00% 0.06x $0.26 (Jan 15, 2024) Dec 28, 2023

My Scotia Trade indicates the new annual dividend is going to be reduced to .416 cents annually giving a new current yield of 6% annually....

The GAMBA FACTOR is alive and well as he continues to over promise and under deliver but he inturn makes tons of money! Shareholders always loose with the 60% dividend cut and stock price decline of 50%...

How does this clown still have a job? It's because the BOD's do not do their fuduciary duty and rubber stamp every move!

JMHO




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